Today on Stockhouse
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Gene Arensberg describes how the CFTC is eyeing position limits for gold and silver in his Got Gold Report.
And, Marin Katusa of Casey Research says cheap oil is gone and why that's good news for investors.
Top Bullboards post: Cheering results from its Brazil property, prospector7 noted on the Magellan Minerals (TSX: V.MNM, Stock Forum): "When you first posted that large soil anomaly map Coffin it is what made me very excited about MNM with an anomaly that huge there has to be a large mineralized zone under there and these drill results prove it. Many years ago that was my first job with a company on the old VSE I went out in the field as a dirt bagger, this is the first step a company will do on a new claim is to take dirt samples and chip samples from any outcrops.”
Top Bullboard: Stem Cell Therapeutics (TSX: V.SSS, Stock Forum) received the most posts and reads on a day its share price jumped 11%.
Top blog: _tsxcommentary provided a molybdenum market outlook for the first quarter of 2010 in the Base Metal Outlook blog.
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
"It is a tug-of-war between the growth in the earnings and what people are willing to pay for those earnings," said Brett Hryb, a portfolio manager with MFC Global Investment Management, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Bank of America (NYSE: BAC) |
Q4 |
$ - 0.52 vs. $ -0.48 |
|
| Coach (NYSE: COH) |
Q2 |
$0.72 vs. $0.67 |
|
| eBay Inc. (NASDAQ: EBAY) |
Q4 |
$0.40 vs. $0.41 |
|
| Morgan Stanley (NYSE: MS) |
Q4 |
$0.36 vs. $ - 2.34 |
|
| Skyworks Solutions (NASDAQ: SWKS) |
Q1 |
$0.25 vs. $0.17 |
|
| Starbucks (NASDAQ: SBUX) |
Q1 |
$0.27 vs. $0.15 |
|
| Wells Fargo & Company (NYSE: WFC) |
Q4 |
$ - 0.02 vs. $ - 0.79 |
|
Today In The Markets
U.S. health stocks rally, while Canadian energy issues deflate
|
| DJIA |
10,725.43 |
+115.78 |
 |
|
| NASDAQ |
2,320.40 |
+32.41 |
|
|
| S&P500 |
1,150.23 |
+14.20 |
|
|
| S&P/TSX |
11,763.42 |
+12.88 |
|
|
| S&P/TSX Venture |
1,612.92 |
+7.20 |
|
|
Toronto & New York (The Canadian Press) - Lower energy and base metal stocks left the Toronto stock market little changed mid-afternoon Tuesday.
Investors also took in news that the Bank of Canada is keeping its key interest rate at 0.25 per cent, and signalled it doesn't plan on raising rates until at least the end of the second quarter.
Health stocks helped push New York markets higher on hopes that a special election in Massachusetts will take away power from Senate Democrats and make it harder for President Barack Obama to make changes to health care.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
IBM (NYSE: IBM, Stock Forum)
The tech giant reported better-than-expected fourth quarter profit that bested its year ago results. IBM said it earned $4.8 billion or $3.59 per share, compared with earnings of $4.4 billion or $3.27 a share during the comparable quarter a year ago. Revenue climbed to $27.23 billion from $27 billion in Q4 of 2008. Analysts had forecast the company to earn $3.47 per share on sales of $26.96 billion.
Mawson Resources (TSX: T.MAW, Stock Forum)
The company announced that it had begun a diamond drilling program at its Duobblon uranium project in Northern Sweden. The company plans to drill up to 48 holes in order to test for potential mineralized strike extensions.