Today on Stockhouse
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Keith Fitz-Gerald of Money Morning outlines a strategy to snap up global stocks at a discount.
While Frank Curzio of DailyWealth believes this is the first thing penny stock traders should know in 2010.
Top Bullboards post: As part of an interesting discussion on the Stealth Ventures (TSX: V.SLV, Stock Forum) Bullboard about doing business in the Alberta oil patch, ragingcanadian wrote: “Ok... Ill give you that. Born here lived here all my life. Worked in the patch as a kid. Operate in the patch as an adult. No one has to tell an Albertan about boom or bust in the patch. But usually it was for market reasons (drop in the Price of oil and gas ect) and then we would have a quik rebound. In the past 40 years there have been two major busts. First the NEP in the eary 80.s A bust created by the Federal Government. The second STARTED with the royalty rate increase by the Alberta Government (They were not the only reason). As you said things got expensive but things were expensive in 2005 when we were really hot and the co.s kept drilling.”
Top Bullboard: PharmaGap (TSX: V.GAP, Stock Forum) received the third-most reads and posts on a day its stock popped 17%.
Top blog: smithgee provides an infrastructure stock pick the blogger believes is a way to play the China construction boom in the Gee's Stock Picks blog.
For news about small stocks that made big moves in Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"What people are looking for is the language and maybe even what the Fed would be communicating between the lines that could show their sense of current economic growth," said Tommy Williams, president of Williams Financial Advisors, in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| 3M Co. (NYSE: MMM) |
Q4 |
$1.21 vs. $0.97 |
|
| Amazon.com (NASDAQ: AMZN) |
Q4 |
$0.72 vs. $0.52 |
|
| Ford Motor Co. (NYSE: F) |
Q4 |
$0.26 vs. $ - 1.37 |
|
| Janus Capital Group (NYSE: JNS) |
Q4 |
$0.19 vs. $0.05 |
|
| Microsoft (NASDAQ: MSFT) |
Q2 |
$0.59 vs. $0.47 |
|
| PMC-Sierra (NASDAQ: PMCS) |
Q4 |
$0.15 vs. $0.07 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian Oil Sands (TSX: T.COS.UN) |
Q4 |
$0.43 vs. $0.26 |
|
| Cdn Pacific Railway (TSX: T.CP) |
Q4 |
$0.89 vs. $1.29 |
|
| Potash Corp. (TSX: T.POT) |
Q4 |
$0.79 vs. $2.56 |
|
| Richelieu Hardware (TSX: T.RCH) |
Q4 |
$0.44 vs. $0.46 |
|
Today In The Markets
Markets move in opposite directions
|
| DJIA |
10,236.16 |
+41.87 |
 |
|
| NASDAQ |
2,221.41 |
+17.68 |
|
|
| S&P500 |
1,097.50 |
+5.33 |
|
|
| S&P/TSX |
11,344.11 |
-17.08 |
 |
|
| S&P/TSX Venture |
1,509.38 |
-24.73 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market finished slightly lower after the U.S. Federal Reserve announced it was leaving its key interest rate unchanged at 0.25 per cent - and said the economy is improving.
The S&P/TSX composite index moved down 17.08 points to 11,344.11 while the Canadian dollar was off 0.2 of a cent to 93.92 cents US.
Commodity stocks again led the market lower as investors continue to react to moves by China to curb bank lending. The worry is that tighter monetary policy in China to check inflationary pressures could kill off the limited economic recovery around the world.
Oil gave back $1.04 to US$73.67 a barrel.
New York's Dow Jones industrial average gained 41.87 points to 10,236.16.
The Nasdaq composite index rose 17.68 points to 2,221.41, while the S&P 500 index was 5.33 points higher to 1,097.5.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Netflix (NASDAQ: NFLX, Stock Forum)
The online DVD rental company reported a 36% jump in its Q4 quarterly profit that topped Wall Street expectations. The company said it earned $31 million or 56 cents per share on revenue of $444.5 million. Excluding stock-based compensation, the company would have earned $32.7 million or 59 cents per share. Analysts were expecting earnings of 49 cents per share, on the same basis, and revenue of $446 million.
Celestica (TSX: T.CLS, Stock Forum)
The contract electronics manufacturer reported that it swung to a profit in its fourth quarter, although revenue was lower than in the comparable period, because of what the company termed “the impacts of weaker end-market demand.” Celestica announced GAAP net earnings of $31.1 million or 13 cents per share, up from its year ago net loss of $822.2 million or $3.58 per share. In the year ago quarter Celestica wrote down $850.5 million in impairment of goodwill. Revenue slipped to $1,664 million from $1,935 million in the prior year quarter.