Today on Stockhouse
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Dan Ferris of DailyWealth discusses what you should do if stocks fall farther from here.
Bullish put sellers in J.C. Penney, Costco Wholesale, says Jud Pyle.
It doesn't pay to fall asleep in a recovery, explains Clif Droke.
What will it take for gold to overcome $1000, asks Boris Sobolev.
The surge continues for shares of Ticker Trax Planetary Prospect BioCryst (BCRX), which hit a new 52-week high on Tuesday.
Buzz on the Boards looked in on the Great Western Minerals Group (TSX: V.GWG, Stock Forum) Bullboard.
Top Bullboards post: “While TSX could go to 10800, I'm sticking with 10500 -10600 zone before pull. Min retrace is 10000. I favor a retest of 9500 before 10800+. Really tough being short when the market shakes off bad news nearly everyday. I still favor a push much lower although I'm wondering what kind of bad news would need to get longs to bail. Market will have to go without me if it wants to go higher from here.” – From Silverstar3 on the Horizons BetaPro S&P TSX 60 Bear Plus ETF (TSX: T.HXD, Stock Forum) Bullboard.
Top Bullboard: Nuvo Research (TSX: T.NRI, Stock Forum) had Tuesday’s most posted Bullboard.
Top blog: jerrio78’s blog post entitled: “Bio Techs topping the charts” had the most comments on Tuesday.
For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"That low bar that has been set makes it easier for companies like Caterpillar Inc. and Deere & Co. to beat expectations," Art Hogan, chief market strategist, Jefferies & Co. told MarketWatch.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Delta Airlines (NYSE: DAL) |
Q2 |
-$0.29 vs. $0.35 |
|
| eBay (NASDAQ: EBAY) |
Q2 |
$0.36 vs. $0.43 |
|
| Eli Lilly (NYSE: LLY) |
Q2 |
$1.02 vs. $0.99 |
|
| GlaxoSmithKline (NYSE: GSK) |
Q2 |
N/A vs. $1.06 |
|
| Morgan Stanley (NYSE: MS) |
Q2 |
-$0.49 vs. $0.95 |
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Husky Energy (TSX: T.HSE) |
Q2 |
N/A vs. $1.61 |
|
| Suncor Energy (TSX: T.SU) |
Q2 |
US$0.29 vs. $0.87 |
|
| Teck Resources (TSX: T.TCK.B) |
Q2 |
US$0.38 vs. $1.13 |
|
Today In The Markets
TSX closes lower after six winning sessions; Caterpillar earns help send N.Y. up
|
| DJIA |
8,915.94 |
+67.79 |
 |
|
| NASDAQ |
1,916.20 |
+6.91 |
|
|
| S&P500 |
954.58 |
+3.45 |
|
|
| S&P/TSX |
10,515.32 |
-25.39 |
 |
|
| S&P/TSX Venture |
1,114.64 |
-3.45 |
|
|
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TORONTO, NEW YORK (CP) - The Toronto stock market closed lower despite another series of positive earnings reports and optimistic outlooks.
The S&P/TSX composite index broke a six-session winning streak, falling 25.39 points to 10,515.32. The drop came after the main index jumped almost 800 points in recent days, riding a wave of higher oil prices and earnings reports that raised confidence that the economy is improving.
The TSX Venture Exchange slipped 3.45 points to 1,114.64.
New York markets extended gains as the Dow Jones industrials climbed 67.79 points to 8,915.94.
The Nasdaq composite rose 6.91 points to 1,916.2 while the S&P 500 index was up 3.45 points to 954.58.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Starbucks (NASDAQ: SBUX)
After Tuesday’s market close, the coffee chain reported its third quarter fiscal 2009 results, including net revenues of $2.4 billion, compared to $2.6 billion in Q308, resulting primarily from a 5% decline in comparable store sales. Net earnings in Q309 totaled $151.5 million, compared to a net loss of $6.7 million in Q308, and diluted EPS for Q309 was 20 cents, compared to a one cent loss in Q308.
West Fraser Timber Co. (TSX: T.WFT)
The Vancouver-based company reported its second quarter numbers after Tuesday’s close, including a loss of $39 million or 91 cents per share on sales of $667 million in Q2 and a loss of $122 million or $2.85 per share, on sales of $1.3 billion for the first half of the year.