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Stockhouse @ the Bell: Bond prices, GM drive stocks lower

Stockhouse Editorial
0 Comments| May 27, 2009

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Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.

Time to return to a gold standard? asks Steven Saville.

Why the best moves for gold stocks have yet to come, explains Dr. Steve Sjuggerud, of DailyWealth.

Jud Pyle looks at bullish options activity in UnitedHealth Group.

Silver poised to accelerate, says Mike Paulenoff.

Jeff Clark discusses a safe way to profit from a short squeeze.

For more articles on gold and silver, please visit the Stockhouse gold & silver feature supplement: https://www.stockhousefeatures.com/gold-and-silver/

Buzz on the Boards looked in on the Zarlink Semiconductor (TSX: T.ZL, Stock Forum) and Connacher Oil and Gas (TSX: T.CLL, Stock Forum) Bullboards.

Top Bullboards post: In a post entitled“Oil inflation hedge” on the Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (TSX: T.HOD, Stock Forum) Bullboard,bravekind said:
“I heard an analyst make this point today and I agree. It is now acting as black gold with an expectation of future prices higher due to inflationary pressures. This will turn around when the markets fall and the dollar strengthens. Looks like in order to wring the optimism out of this market you'd have to stuff it in your washing machine and put it on the spin cycle. Perhaps the markets are also reacting to the inflationary pressures. Better to own a piece of a company then a paper currency that returns 2%.”

Top Bullboard: The most posted Bullboard, with over 160 posts, was Uranium One (TSX: T.UUU, Stock Forum).

Top blog: The three blogs with the most reads Wednesday were Maysteeler23's Thoughts, Notes From a Cyber Trader and Markus Giel -Ufermann Investments-Investing during a recession.

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

"While consumer confidence looking forward is improving, the reality is the economy is still very weak," Alan Gayle, senior investment strategist at RidgeWorth Capital Management told the Associated Press.

Selected expected U.S. earnings releases for Thursday
(Consensus Estimates vs. Last Year)
Arctic Cat Inc. (NASDAQ: ACAT) Q4 -$0.89 vs. $0.02
Costco Wholesale Corporation (NASDAQ: COST) Q3 $0.53 vs. $0.67
H.J. Heinz Company (NYSE: HNZ) Q4 $0.55 vs. $0.61
J. Crew Group (NYSE: JCG) Q1 $0.10 vs. $0.48
Novell, Inc. (NASDAQ: NOVL) Q2 $0.06 vs. $0.06
Perry Ellis International (NASDAQ: PERY) Q1 $0.23 vs. $0.60

Selected expected Canadian earnings releases for Thursday
(Consensus Estimates vs. Last Year)
Bank of Nova Scotia (TSX: T.BNS) Q2 N/A vs. $0.97
Canadian Imperial Bank of Commerce (TSX: T.CM) Q2 $1.24 vs. $1.62
National Bank of Canada (TSX: T.IMG) Q2 N/A vs. $1.00
Toronto Dominion Bank (TSX: T.TD) Q2 $1.01 vs. $1.31

Today In The Markets

Slumping U.S. Treasury bond prices send stock markets lower

DJIA 8,300.02 -173.47 Click to enlarge
NASDAQ 1,731.08 -19.35 Click to enlarge
S&P500 893.06 -17.27 Click to enlarge
S&P/TSX 10,142.16 -143.74 Click to enlarge
S&P/TSX Venture 1,092.99 -4.17 Click to enlarge

Click to enlargeFind out how to get this data on your BlackBerry

TORONTO, NEW YORK (CP) - Stock markets closed sharply lower on interest rate worries and the increased likelihood that General Motors will end up filing for creditor protection after bondholders rejected a debt-for-stock swap.

Toronto's S&P/TSX composite index moved 143.74 points lower to 10,142.16, led by falling financials. The Canadian dollar declined 0.13 of a cent to 89.33 cents US.

The Dow Jones industrial average dropped 173.47 points to 8,300.02 and the Nasdaq composite index declined 19.35 to 1,731.08.

Please click here for the current U.S. and Canadian market summaries.

After-Hours News

TiVo Inc. (NASDAQ: TIVO)
After Wednesday’s close, the provider of video recording services said it lost $4.13 million, or four cents a share, in its fiscal first quarter, down from a $3.6 million profit in the year-ago period. Revenues fell to $48.5 million from $54.9 million. Analysts expected a loss of five cents a share on service and technology revenues of $48.6 million.

St Andrew Goldfields (TSX: T.SAS)
The junior miner, after Wednesday’s closing bell, reported final assay results from the recently completed 10,300 metre surface core drilling program at its Hislop Project, located east of Timmins, Ontario, which included nine metres of 17.70 g/t gold.



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