Today on Stockhouse
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Paulson responsible for crushing confidence, says Jason Schwarz.
Dow/Gold ratio's the most important long-term chart for investors, explains Steven Saville.
From Saj Karsan: Jacked up on LoJack stock.
Even mall Santas have been getting pink slips, says Olivier Garret of Casey Research.
Buzz on the Boards stopped in on the Research In Motion (TSX: T.RIM, Stock Forum) and the Nexen (TSX: T.NXY, Stock Forum) Bullboard.
Top Bullboards post: “Not so sure that we have seen the worst of this crisis as of yet. The market seems to be trading very cautiously and in addition we are nearing the end of the year tax loss selling. Don't think for a minute that the market doesn't have a few losses to cover off. Those selling now have 30 days and then they can buy their shares back and this pressure may make them even cheaper by that time…” – From dudediligent on the Teck Cominco (TSX: T.TCK.B, Stock Forum) Bullboard.
Top Bullboard: Nexen (TSX: T.NXY, Stock Forum) ended the day as the most posted Bullboard on Stockhouse Wednesday.
Top blog:mikerodger wrote about the current situation in Canadian politics in today’s blog post.
For news about small stocks that made big moves in Wednesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Both households and businesses are deleveraging rapidly, just as banks have done over the past year, and the pull-back is sharply impacting spending and output as gauged by the sentiment indicators," analysts at Action Economics told MarketWatch, regarding the Institute for Supply Management index.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Comtech Telecommunications (NASDAQ: CMTL) |
Q1 |
$0.58 vs. $0.54 |
|
| Guess (NYSE: GES) |
Q3 |
$0.63 vs. $0.62 |
|
| Layne Christensen (NASDAQ: LAYN) |
Q3 |
$0.66 vs. $0.59 |
|
| Toll Brothers (NYSE: TOL) |
Q4 |
-$0.47 vs. -$0.52 |
|
| Williams-Sonoma (NYSE: WSM) |
Q3 |
-$0.12 vs. $0.25 |
|
| Wind River Systems (NASDAQ: WIND) |
Q3 |
$0.09 vs. $0.08 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian Imperial Bank of Commerce (TSX: T.CM) |
Q4 |
US $1.28 vs. $2.23 |
|
| Toronto Dominion Bank (TSX: T.TD) |
Q4 |
US $1.01 vs. $1.37 |
|
After-Hours News
Aeropostale (NYSE: ARO)
After Wednesday's close, Clothing retailer Aeropostale, reported results for the third quarter including a 31% increase in diluted earnings per share to 63 cents per share, compared to net earnings of 48 cents per share in the third quarter of 2007. Net income increased 18% to $42.6 million, compared to net income of $36.0 million in the same period last year. Total net sales increased 17% in Q3 to $482.0 million, from $412.6 million in the same quarter last year.
Tundra Semiconductor (TSX: T.TUN)
The technology company reported financial results for the second quarter of fiscal 2009 after market close Tuesday, including revenue of $18.2 million, up 2% from the same quarter last year. Earnings were $2.4 million or 12 cents a share, compared to $0.9 million or five cents a share in Q3 2008.
Today In The Markets
Rising financials limit losses on TSX; N.Y. surges on mixed data
|
| DJIA |
8,591.69 |
172.60 |
 |
|
| NASDAQ |
1,492.38 |
42.58 |
|
|
| S&P500 |
870.74 |
21.93 |
|
|
| S&P/TSX |
8,296.96 |
-30.85 |
 |
|
| S&P/TSX Venture |
712.08 |
-19.02 |
|
|
TORONTO, NEW YORK (CP) - The Toronto stock market closed slightly lower Wednesday as a burst in financial stocks helped offset lower energy and base metal stocks.
Toronto's S&P/TSX composite index lost 30.85 points to 8,296.96 but well off early lows as financial stocks improved ahead of a slew of earnings coming out Thursday and Friday.
In New York, markets closed sharply higher after investors weighed projections of big job losses and some decent retail news.
New York's Dow Jones industrial average moved up 172.6 points to 8,591.69, while the Nasdaq composite index climbed 42.58 points to 1,492.38. The S&P 500 rose 21.93 points to 870.74.
Please click here for the complete U.S. and Canadian market summaries.