Today on Stockhouse
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Investors should make a fortune in this high voltage market, says Andrew Mickey.
Brian Hunt of The Growth Stock Wire looks at two simple tools of successful traders.
Financials catch a bid, notes Mike Paulenoff.
Dr. Steve Sjuggerud of DailyWealth discusses how you can buy like Warren Buffett.
Buzz on the Boards stopped by the PharmaGap (TSX:V.GAP, Stock Forum) and Ecometals (TSX: V.EC, Stock Forum) Bullboards.
Top Bullboards post: “People don't know how bad the situation really is for the economy and in this case the gas industry. It don't matter whether the numbers are below estimates for this week? So any kinda build over 60 and worse if we start to see builds of above 70 its going down hard. Look at the macro picture and stop falling in love with non sense. Things won't change anytime soon for gas and that’s what I'm seeing. Biggest problem over supplied market and no way to move it around via pipelines. I still feel $2.00 gas isn't out of the question.” – From Rocket101 on the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum) Bullboard.
Top Bullboard: The Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum) Bullboard boasted the most posts on Thursday, as some Stockhouse members shared their thoughts on the latest inventory numbers.
Top blog: caldernet’s $100,000 Goal blog had the most comments on 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
"The decline in retail sales is quite startling to say the least. The cash for clunkers program was expected to have had quite an effect on retail sales [but] motor vehicle and parts rose only 2.4%; expectations had looked for a gain more than double. Sales at auto and other motor vehicle dealers were up just 2.8%, a healthy gain to be certain but far less than many economists expected," Dan Greenhaus, chief economic strategist, Miller Tabak & Co. told MarketWatch.
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Abercrombie & Fitch (NYSE: ANF) |
Q2 |
-$0.07 vs. $0.87 |
|
| Hydrogenics Corp. (NASDAQ: HYGS) |
Q2 |
-$0.03 vs. -$0.05 |
|
| JCPenney (NYSE: JCP) |
Q2 |
-$0.01 vs. $0.52 |
|
| Nexxus Lighting (NASDAQ: NEXS) |
Q2 |
-$0.13 vs. -$0.18 |
|
| VanceInfo Technologies (NYSE: VIT) |
Q2 |
$0.11 vs. $0.09 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Aurizon Mines (TSX: T.ARZ) |
Q2 |
US$0.05 vs. N/A |
|
| FNX Mining (TSX: T.FNX) |
Q2 |
N/A vs. $0.13 |
|
Today In The Markets
Stock markets close higher despite downbeat American retail, jobs data
|
| DJIA |
9,398.19 |
+36.58 |
 |
|
| NASDAQ |
2,009.35 |
+10.63 |
|
|
| S&P500 |
1,012.73 |
+6.92 |
|
|
| S&P/TSX |
10,825.56 |
+165.69 |
|
|
| S&P/TSX Venture |
1,200.50 |
+14.48 |
|
|
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TORONTO, NEW YORK (CP) - The Toronto stock market closed sharply higher as commodity and financials stocks bounded ahead in the wake of an improved take on the economy by the U.S. Federal Reserve.
The S&P/TSX composite index ran ahead 165.69 points to 10,825.56 after the U.S. central bank said Wednesday at the end of its two-day meeting that the economy appears to be "leveling out" rather than shrinking at a slower rate. The Canadian dollar was off 0.05 of a cent to 91.83 cents US and the TSX Venture Exchange climbed 14.48 points to 1,200.5.
The Dow Jones industrial average was 36.58 points higher to 9,398.19. The Nasdaq composite index gained 10.63 points to 2,009.35, while the S&P 500 index was up 6.92 points to 1,012.73.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Blockbuster (NYSE: BBI)
After Thursday’s close, the DVD-rental chain posted an adjusted second-quarter loss of 19 cents a share, missing the Wall Street loss estimate of 12 cents a share. Revenue fell to $1.02 billion from $1.3 billion last year. Analysts expected $1.11 billion in revenue. Blockbuster's net loss narrowed to $39.7 million, or 21 cents a share, from $44.7 million, or 23 cents a share, in the year-ago period.
Innergex Renewable Energy (TSX: T.INE)
The developer, owner and operator of renewable power generating facilities, after Thursday’s closing bell, reported second-quarter revenue of $7.5 million, up from $2.4 million a year ago. Net earnings for the quarter were $8.4 million, or 36 cents a share, compared with $1.3 million, or six cents a share, during the same period last year.