Today on Stockhouse
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Thom Calandra writes about some miners who are digging the Ghana gold rush.
While Jeff Clark of Growth Stock Wire believes oil's next big move could come as soon as this week.
Top Bullboards post: “What percent of a solar panel manufactured in Germany containing PV cells made in a German plant owned and operated by a wholly owned subsidiary qualifies Arise, a Canadian corporation? This component and the Canadian labor content should be more than enough to qualify of exceed the initial 40 % content restriction” wrote otsenre, in part.
Top Bullboard: The Vast Exploration (TSX: V.VST) board received the most posts and the third-most reads on a day its shares slipped 8%.
Top blog: Boot1posted an article that points to the possibility of manipulation in the silver market on The Lunar Metal blog.
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
"We know what the (housing) data looked like with the economy on life support," said Stephen Wood, chief market strategist at Russell Investments, in an interview with Associated Press. "What the market is beginning to price is what will the data look like when the Federal Reserve starts withdrawing that life support and that is not nearly as clear."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| AZZ incorporated (NYSE: AZZ) |
Q2 |
$0.69 vs. $0.92 |
|
| KB Home (NYSE: KBH) |
Q3 |
$ - 0.58 vs. $ - 1.87 |
|
| Park Electrochemical (NYSE: PKE) |
Q2 |
$0.18 vs. $0.37 |
|
| Qualstar (NASDAQ: QBAK) |
Q4 |
$ - 0.06 vs. $ - 0.01 |
|
| Sutor Technology Group (NASDAQ: SUTR) |
Q4 |
$0.10 vs. $0.26 |
|
Today In The Markets
Stocks slip
|
| DJIA |
9,707.44 |
-41.11 |
 |
|
| NASDAQ |
2,107.61 |
-23.81 |
|
|
| S&P500 |
1,050.78 |
-10.09 |
|
|
| S&P/TSX |
11,285.76 |
-231.78 |
|
|
| S&P/TSX Venture |
1,256.36 |
-21.49 |
|
|
(Toronto & New York) - The Toronto stock market tumbled almost two per cent in Thursday afternoon trading as rising crude supplies sent prices sharply lower and investors were disappointed at a surprising decline in U.S. home sales.
The S&P/TSX composite index tumbled 231 points to 11,285.8.
New York markets had started off positive after data showed the number of newly laid off workers seeking unemployment benefits fell by 21,000 last week. Economists had been expecting a slight uptick in initial unemployment insurance claims.
But those gains evaporated after home resales dipped unexpectedly last month after four straight gains, a sign the housing market recovery remains fragile.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Research in Motion (NASDAQ: RIMM) / (TSX: T.RIM)
Following its second quarter earnings report and third quarter outlook, shares of the BlackBerry maker tumbled in afterhours trading. The company reported that its second quarter earnings slipped 4% compared with the year before period after it paid a charge of $112.8 million to settle a patent dispute with Visto Corp. The company earned 83 cents per share for the second quarter, against year ago earnings of 86 cents per share. Revenue climbed 37% to $3.53 billion. Analysts had expected earnings of $1 per share on revenue of $3.62 billion. Q3 forecasts were also below expectations. The company said it would report revenue between $3.6 billion and $3.85 billion with earnings between $1 and $1.08 per share. Analysts were expecting revenue of $3.92 billion with earnings of $1.05 per share.
McDonald’s (NYSE:MC)
The fast food giant announced late on Thursday that it would boost its quarterly stock dividend by 10% to 55 cents per share.
Heroux-Devtek (TSX: T.HRX)
The maker of aerospace products announced today that it had signed a memorandum of understanding with Boeing (NYSE: BA) to make landing gear for the H-47F Chinook heavy lift helicopter.