Today on Stockhouse
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Martin Hutchinson of Money Morning believes hedge funds could be set to rock the commodities world.
This as Lorimer Wilson writes about the $5,800 gold projection and what it could mean for juniors.
Top Bullboards post: Writing on the Northrock Resources (TSX: V.NRK, Stock Forum) board, Drox2000 enthused: “These results are pretty amazing. I have been accumulating this one in the 9-10 range for a few weeks after coming across it via some research. I really liked what I saw in their March 18th news release (8.5m of 16.2 g/t Au), and thought with such a tight share structure this one could really move.
“I think this is just the beginning here, people. They are striking high grade where ever they drill, and have plenty of cash to continue developing this deposit.
“Should be a good run from here once all the flippers get taken out.”
Top Bullboard: The Garson Gold Corp (TSX: T.GG, Stock Forum) board had the greatest number of posts, while the Pharmagap inc. (TSX: T.GAP, Stock Forum) drew the most reads.
Top blog: ghost11 targets a solar play and uranium stocks that are flying in the GHOST TRADER2blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Right now we're on a divergent path," said Dan Cook, senior market analyst at IG Markets, in an interview with Associated Press, referring to earnings and the economy. "It's only a matter of time before that has to catch up."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Amgen (NASDAQ: AMGN) |
Q3 |
$1.27 vs. $1.23 |
|
| eBay Inc. (NASDAQ: EBAY) |
Q3 |
$0.37 vs. $0.46 |
|
| Eli Lilly & Co. (NYSE: LLY) |
Q3 |
$1.02 vs. $1.04 |
|
| Genzyme (NASDAQ: GENZ) |
Q3 |
$0.44 vs. $1.04 |
|
| Wells Fargo & Company( (NYSE: WFC) |
Q3 |
$0.36 vs. $0.49 |
Today In The Markets
Markets post losses
|
| DJIA |
10,041.48 |
-50.71 |
 |
|
| NASDAQ |
2,163.47 |
-12.85 |
|
|
| S&P500 |
1,091.06 |
-6.85 |
|
|
| S&P/TSX |
11,538.12 |
-0.27 |
|
|
| S&P/TSX Venture |
1,339.59 |
+0.82 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto stock market drifted to a flat close Tuesday as mixed economic news from the U.S. overshadowed the latest positive earnings reports.
The S&P/TSX composite index slipped 0.27 of a point to 11,538.12 as investors were unsurprised by the Bank Canada's decision to hold the line on interest rates at 0.25 per cent.
New York markets were lower as investors balanced mixed news from the housing sector with more strong earnings news.
The Dow Jones industrial average declined 50.71 points to 10,041.48.
The Nasdaq composite index pulled back 12.85 points to 2,163.47 and the S&P futures was down 6.85 points to 1,091.06 despite well-received earnings reports from Apple Inc. and Texas Instruments.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Yahoo (NASDAQ: YHOO, Stock Forum)
The internet search company reported third quarter profits that topped estimates after the bell on Tuesday. Yahoo said net income amounted to $187 million or 13 cents per share, against its year before net income of $54.3 million or 4 cents per share. Net revenue was $1.13 billion. Wall Street analysts had forecast the company to earn 7 cents per share on $1.12 billion in net revenue. The company’s profit was largely due to stringent cost cutting.
Noront Resources (TSX: V.NOT, Stock Forum)
The gold exploration company released updated assay results after the close. Reporting on its Eagle’s Nest deposit at the McFaulds Lake Property, Noront reported that it now appears there is a single mineralized unit instead of two lenses. It also said that it expects to report assays for platinum and palladium, which are currently being completed.