Today on Stockhouse
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Jim Rogers says buy these stocks, according to Andrew Mickey.
Downside put buyers in GE, says Jud Pyle.
Dr. Joe Duarte explains that short selling ETFs can be useful.
Danny Deadlock discusses two resource stock picks grossly discounted to cash.
Diamond Offshore Drilling digs deeper into the rough, notes Schaeffer’s Research.
Buzz on the Boards took a look at the Western Canadian Coal Corp. (TSX: WTN, Stock Forum) Bullboard and the Potash One (TSX: T.KCL, Stock Forum) Bullboard.
Top Bullboards post:“The catalysts that will drive oil down further continue to grow. More jobs lost, more companies ready to go out of business. Credit still very tight... housing starts are right in the toilet with lots of room to continue dropping. $25 oil might be over pessimistic but it has been said by commodities traders interviewed. $35 should be easy enough... HOD could hit way higher than $32.25 in a week…There is just NOTHING to help the price of oil get optimistic[sic]…– From mikerosoft666 on the Horizons BetaPro NYMEX Crude Oil Bear Plus ETF(TSX: T.HOD, Stock Forum) Bullboard.
Top Bullboard:The Western Canadian Coal Corp. (TSX: WTN, Stock Forum) Bullboard was one of the most posted boards of the day.
Top blog:GambitX discussed “The Case for Pacific Lottery” on the Gambit's Gambles blog Thursday.
For news about small stocks that made big moves in Thursday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"I think we're going to be bouncing between 7,500 and 9,000 (on the Dow) for the next couple of quarters," Roy Williams, chief executive of Prestige Wealth Management Group told the Associated Press.
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| GATX Corporation (NYSE: GMT) |
Q4 |
$0.58 vs. $0.62 |
|
| General Electric (NYSE: GE) |
Q4 |
$0.37 vs. $0.68 |
|
| Harley-Davidson (NYSE: HOG) |
Q4 |
$0.57 vs. $0.78 |
|
| United Community Banks (NASDAQ: UCBI) |
Q4 |
-$0.98 vs. $0.09 |
|
| Webster Financial Corp. (NYSE: WBS) |
Q4 |
-$0.58 vs. -$0.08 |
|
| Xerox (NYSE: XRX) |
Q4 |
$0.34 vs. $0.41 |
|
Today In The Markets
Stocks close sharply lower on bank concerns, Microsoft miss on earnings
|
| DJIA |
8,122.80 |
-105.30 |
 |
|
| NASDAQ |
1,465.49 |
-41.58 |
|
|
| S&P500 |
827.50 |
-12.74 |
|
|
| S&P/TSX |
8,486.56 |
-271.33 |
|
|
| S&P/TSX Venture |
850.21 |
-1.34 |
|
|
TORONTO, NEW YORK (CP) - Stock markets closed sharply lower Thursday as investors continued to sell off bank stocks amid a surprise announcement from Microsoft Corp. that quarterly earnings missed estimates and that it will cut 5,000 jobs.
Toronto's S&P/TSX composite index closed down 271.33 points to 8,486.56, more than wiping out Wednesday's 253-point gain. The TSX Venture Exchange dipped 1.34 points to 850.21.
New York's Dow Jones industrial average fell 105.3 points to 8,122.8 after rising 279 points yesterday. The Nasdaq composite index fell 41.58 points to 1,465.49 after Apple Inc. said growing iPod sales outside the U.S. prodded its holiday-quarter profit up two per cent to US$1.61 billion. Apple shares were ahead $5.53 to US$88.36. The S&P 500 index lost 12.74 points to 827.5 amid other signs of tech sector weakness.
Toronto's S&P/TSX composite index tumbled 336.55 points to 8,504.93. The TSX Venture Exchange moved down 16.27 points to 856.68.
Please click here for current U.S. and Canadian market summaries.
After-Hours News
Google Inc. (NASDAQ: GOOG)
After Thursday's close, the search giant posted fourth-quarter net income that fell sharply to $382 million, or $1.21 a share, from $1.2 billion, or $3.79 a share, in the same period a year earlier. Net revenue rose to $4.2 billion. Excluding special items, Google said earnings for the period were $5.10 a share. Analysts expected earnings excluding special items of $4.95 a share for the quarter, and $4.1 billion in net revenue.
Donner Metals (TSX: V.DON)
The junior miner, after Thursday's closing bell, reported that a resource calculation conforming to NI43-101 standards has been received from Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc), operator for the Bracemac-McLeod discovery located six kilometres southeast of Xstrata's operating Matagami Mill Complex in Quebec. Indicated resources are currently calculated at 3,648,000 tonnes grading 11.09% zinc, 1.55% copper, 31.34 g/t silver and 0.48 g/t gold, with additional inferred resources of 528,000 tonnes grading 1.25% zinc, 1.79% copper, 11.51 g/t silver and 0.18 g/t gold.