Today on Stockhouse
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Jeff Clark of Casey Research wonders what would happen if everyone in the world wanted one ounce of gold.
While Andrew Mickey of Q1 Publishing believes this lithium battery stock could be the best story in some time.
Top Bullboards post: Freedom457 wrote: “The following comment will hopefully put the future of Rare Earth Elements into proper perspective in light of China backing away from the Lynas deal.
“Clint Cox of Anchor House (who btw has visited China numerous times over the past several years covering Rare Earths and who presented at the Casey Special Situations Conference in Denver about a week or so ago), just reported this...."In Baotou, China, there are some 20,000 technicians, 2,000 almost PHD level and 200 PHD level scientists all working on Rare Earths"...it is evident by the efforts and cost being expended that the Chinese are taking REE and it's future applications very seriously. So don't mistake this action by China as an indicator that the REE sector is becoming non-important to them.
“The fact that the Lynas deal is dead, really adds monetary and strategic value to other advanced world class REE deposits outside of China.”
Top Bullboard: Top three in terms of reads: Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum), Canasia Industries (TSX: V.CAJ, Stock Forum), and True North Gems (TSX: V.TGX, Stock Forum).
Top blog: LexLuthor2 profiles what could be one of the best stocks in the energy materials processing sector in his Lex Corp blog.
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
"The market's a little skittish," said Howard Ward, portfolio manager at GAMCO Growth Fund, in an interview with Associated Press. "The data is inconsistent, so there will be the occasional economic release that is going to trigger some selling because stocks are up a lot."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Actuant Corporation (NYSE: ATU) |
Q4 |
$0.16 vs. $0.54 |
|
| Diamond Foods (NASDAQ: DMND) |
Q4 |
$0.18 vs. $0.16 |
|
| Duncan Energy Partners LP (NYSE: DEP) |
Q3 |
$0.33 vs. $0.18 |
|
| Lawson Software (NASDAQ: LWSN) |
Q1 |
$0.05 vs. $0.05 |
|
| Xyratex (NASDAQ: XRTX) |
Q3 |
$0.14 vs. $0.36 |
|
Today In The Markets
New York markets falter on shaky consumer confidence; Toronto gains
|
| DJIA |
9,742.20 |
-47.16 |
 |
|
| NASDAQ |
2,124.04 |
-6.70 |
|
|
| S&P500 |
1,060.61 |
-2.37 |
|
|
| S&P/TSX |
11,394.99 |
+56.27 |
 |
|
| S&P/TSX Venture |
1,272.31 |
+2.58 |
|
|
Toronto & New York (Canadian Press) - The Toronto stock market closed higher Tuesday, supported by the gold and telecom sectors but investors were cautious following a surprise drop in U.S. consumer confidence that called into doubt the strength of the U.S. economic recovery.
The S&P/TSX composite index rose 56.27 points to 11,394.99. The U.S. Conference Board reported that its consumer confidence index came in at 53.1, down from August and well below the expected reading of 57 as worries about job security offset any enthusiasm about the rally in the stock market.
New York markets turned lower despite another report showing home prices increased from June to July. The Dow Jones industrial average was 47.16 points lower to 9,742.2, the Nasdaq composite index lost 6.7 points to 2,124.04 while the S&P 500 fell 2.38 points to 1,060.6.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Nike (NASDAQ: NIKE)
The footwear giant said after the close on Tuesday that its fiscal first quarter profit amounted to $513 million or $1.04 per share, against $510 million or $1.03 per share in the year before quarter. Sales slipped 12% to $4.8 billion. While the company surpassed Street earnings estimates of 98 cents per share, its sales were less than the expected $4.91 billion.
New Pacific Metals Corp (TSX: V.NUX)
The gold exploration junior reported a loss for its fiscal fourth quarter ending June 30, 2009. New Pacific said that it lost $409,398 or a penny per share. The company also reported a loss of $925,846 or three cents per share. It said that it had incurred exploration and development expenditures of $2.5 million compared with $1.5 million in the prior year, and had finished the year with cash and cash equivalents of $11.3 million.