Today on Stockhouse
StockHouse will not publish @ the Bell on December 25, 26 and January 1. Stockhouse wishes you and your loved ones a very happy holiday and a Happy New Year.
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Bailout glitters with gold, says Nicholas Jones.
Sy Harding explains why this recession won't be that severe.
Six investments mistakes you're probably making - Part One, from Peter Leeds.
Gold & precious metal stocks: 2009 could be a great year, notes Boris Sobolev.
Buzz on the Boards stopped in on the Mooncor Oil & Gas Corp. (TSX: T.MOO, Stock Forum) and Douglas Lake Minerals (OTC: BB: DLKM, Stock Forum Bullboards.
Top Bullboards post: “The entire northern hemisphere is enduring the coldest winter in over 50 years and the price for the two most common sources of heat, oil and natural gas are dropping? Isn't it wonderful when you can have a pretend market for commodities where you can trade paper and make huge profits without ever having to actually deliver the goods that you sold? One day soon people are actually going to want some heating oil or natural gas, not the paper variety but the real thing. When that day arrives I sure wouldn't want to be one of the guys who agreed to sell it to them for a pittance of what they will be willing to pay when they can't actually find any. At these prices, exploration will cease. Better stock up on woolies and water bottles.” – From Wellsitteron the Connacher Oil & Gas (TSX: T.CLL, Stock Forum) Bullboard.
Top Bullboard: Oilexco (TSX: T.OIL, Stock Forum) started the week as the most posted Bullboard on Stockhouse.
Top blog:littleguy123 discusses “re-defaults” and what needs to be done to fix the U.S. housing market on the Outside the Market blog Monday.
For news about small stocks that made big moves in Monday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"A truncated week is going to make it tough to generate any firm takeaways from trading," Craig Peckham, equity trading strategist at Jefferies & Co. told the Associated Press. "I would expect to see sleepy volumes and a lot of people protecting positions going into year end."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| American Greetings Corp. (NYSE: AM) |
Q3 |
$0.52 vs. $0.53 |
|
| FSI International (NASDAQ: FSII) |
Q1 |
-$0.15 vs. $-0.07 |
|
| Micron Technology (NYSE: MU) |
Q1 |
-$0.43 vs. -$0.34 |
|
After-Hours News
Red Hat (NYSE: RHT)
After Monday's close, the Linux software provider posted third-quarter net income of $24.3 million, or 12 cents per share, compared to earnings of $20.3 million, or 10 cents per share, for the same period last year. Excluding stock-based compensation and other charges, the company said it would have earned $48.4 million, or 24 cents a share. Revenue rose 22% to $165.3 million. Analysts expected earnings of 18 cents a share on revenue of $166.4 million.
Gildan Activewear (TSX: T.GIL)
The supplier of activewear, after Monday's closing bell, announced that President and CEO Glenn J. Chamandy has advised the company that, between December 16, 2008 and December 22, 2008, he purchased an additional 1,000,800 shares at prices ranging from CDN$11.15 to $11.69, bringing his total holdings to 8,453,600 shares, or approximately 7.0% of Gildan's total common shares outstanding.
Today In The Markets
TSX faces oil price pessimism while Toyota slashes its earnings forecast
|
| DJIA |
8,519.69 |
-59.42 |
 |
|
| NASDAQ |
1,532.35 |
-31.97 |
|
|
| S&P500 |
871.63 |
-16.25 |
|
|
| S&P/TSX |
8,249.53 |
-302.47 |
|
|
| S&P/TSX Venture |
692.02 |
-7.02 |
|
|
TORONTO, NEW YORK (CP) - Another wave of bad economic sentiment wore through the Toronto stock market Monday as oil prices fell and Japanese auto giant Toyota Motor Corp. projected its first-ever full-year operating loss.
Toronto's S&P/TSX composite index fell 302.47 points to 8,249.53, and the Canadian dollar moved higher at 82.03 cents US, up 0.26 of a cent. The TSX Venture Exchange was down 7.02 points to 692.02.
On Wall Street, the Dow Jones industrials lost 59.42 points to 8,519.69. The Nasdaq composite index fell 31.97 points to 1,532.35 and the S&P 500 slid 16.25 points to 871.63.
Please click here for the complete U.S. and Canadian market summaries.