Today on Stockhouse
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From The Gold Report: Depressed resource stocks among best buys, says Adrian Day.
Can Qualcomm's quarterly earnings win over more bulls? asks Schaeffer's Research.
Goldman Sachs calls trading spikes, according to Jud Pyle.
Full of haggis, miner spills his guts, in today’s ThomWatch by Thom Calandra.
Companies thriving in the "Great Disruption", says Andrew Mickey.
Buzz on the Boards took a look at the Angiotech (TSX: T.ANP, Stock Forum) and IAMGOLD Corporation (TSX: T.IMG, Stock Forum) Bullboards.
Top Bullboards post:“Some of us looked to junior explorers as 4x leverage to the move in bullion we expected, and for a time we saw money flows and good stock action. I now think that's the wrong way to approach these. They are illiquid and take time to develop. Until goodies are proved, and ore is poured, we are guessing day to day what the PV of future mined goodies may be. 40 cents is just as good as 2 bucks, and neither means a thing. This could go up and down, and those aren't signals to get in or out, imo. If this works, an entire district of goodies will propel this like a rocket. If it doesn't, you have minimum, probably a 1 mil oz 43-101 coming out, making the shares very cheap [sic].” – From yellowbob on the Animas Resources (TSX: V.ANI, Stock Forum) Bullboard.
Top Bullboard: Trade Winds Ventures (TSX: V.TWD, Stock Forum) had one of the most posted Bullboards of the day.
Top blog:littleguy123 provided readers with one of the “Best of Outside the Market” posts on his 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
"It seems like we've gotten through the financial crisis. Now we're dealing with global synchronized recession," Brian Battle, vice president of trading at Performance Trust Capital Partners in Chicago, told the Associated Press.
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Chevron (NYSE: CVX) |
Q4 |
$1.81 vs. $2.25 |
|
| ExxonMobil Corporation (NYSE: XOM) |
Q4 |
$1.45 vs. $2.13 |
|
| Gannett (NYSE: GCI) |
Q4 |
$0.81 vs. $1.28 |
|
| Honda Motor Co. (NYSE: HMC) |
Q3 |
N/A vs. $0.67 |
|
| Honeywell (NYSE: HON) |
Q4 |
$0.97 vs. $0.91 |
|
| Procter & Gamble (NYSE: PG) |
Q2 |
$1.58 vs. $0.98 |
|
Today In The Markets
Financials, oils push TSX lower; earnings, economic data sends N.Y. tumbling
|
| DJIA |
8,149.01 |
-226.44 |
 |
|
| NASDAQ |
1,507.84 |
-50.50 |
|
|
| S&P500 |
845.14 |
-28.95 |
|
|
| S&P/TSX |
8,762.76 |
-143.47 |
|
|
| S&P/TSX Venture |
880.54 |
+10.62 |
 |
|
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TORONTO, NEW YORK (CP) - The Toronto stock market snapped a four-session positive streak as investors took profits from a sharp runup in financials and energy stocks slipped amid lower oil prices.
Toronto's S&P/TSX composite index dropped 143.47 points to 8,762.76 after running ahead five per cent since last Thursday. The TSX Venture Exchange added 10.62 points to 880.54.
The Dow Jones industrial average lost 226.44 points to 8,149.01 as U.S. factory orders for big-ticket goods fell in December and sales of new homes plunged to the slowest monthly pace on record. The Nasdaq composite index shed 50.5 points to 1,507.84 while the S&P 500 index gave back 28.95 points to 845.14.
Please click here for current U.S. and Canadian market summaries.
After-Hours News
Amazon.com (NASDAQ: AMZN)
After Thursday's close, the online retailer said its fourth-quarter earnings rose to $225 million, or 52 cents a share, compared with $207 million, or 48 cents a share, in the year-ago period. Revenue increased 18% to $6.7 billion. Analysts expected earnings of 40 cents a share on revenue of $6.48 billion. Amazon shares surged more than 10% in after-hours trading.
Cinch Energy (TSX: T.CNH)
The oil and gas explorer/producer, after Thursday's closing bell, provided an update on its drilling activities in the Dawson Area of British Columbia. Cinch achieved its 2008 production projections averaging approximately 2500 boepd during the fourth quarter of 2008, which resulted in average production of over 2000 boepd for the year. This is a 50% increase over the 1340 boepd of production in 2007, and will be the fifth consecutive quarter of increased production. The company also anticipates increasing its production during the first quarter of 2009 when the Dawson 6-6 (85% working interest) Wabamun well commences production at an estimated rate of 5 mmcf/d.