Today on Stockhouse
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Frank Holmes, of U.S. Global Investors, wrote about how China and India continue to grow their acquisitions of emerging market companies
While Jeff Clark warned investors to watch the volatility index closely for clues about the broad market’s direction.
Top Bullboards post:doitclean noted that Stornoway Diamond (TSX: T.SWY, Stock Forum) was hitting resistance. “SWY opened well and tested the resistance at 0.79-0.80. Failed and retraced to test support at 0.73-0.74.
“Hope to see a bounce off this support and then push through 0.80 on some decent volume - would form a double top breakout which would be positive. If it failes at 0.80 again, it will retrace to 0.73 and then hopefully try again.”
Top Bullboard:Premium Exploration (TSX: V.PEM, Stock Forum) was the top bullboard with 149 posts on the day that its stock fell 12%. The company announced that it would undertake a scoping study of its Friday-Petsite gold project.
Top blog:Ghost11 wrote about natural gas opportunities in the GHOST TRADER2 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
"We're continuing to digest the gains we've made over the last six-to-seven weeks, and we're above 1,150 on the S&P 500, which marked a top in January, and is a big positive for this market," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research in an interview with Marketwatch.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Accenture (NYSE: ACN) |
Q2 |
$0.61 vs. $0.63 |
|
| Best Buy (NYSE: BBY) |
Q4 |
$1.79 vs. $1.61 |
|
| ConAgra (NYSE: CAG) |
Q3 |
$0.43 vs. $0.41 |
|
| Saba Software (NASDAQ: SABA) |
Q3 |
$0.06 vs. $0.11 |
|
| TIBCO Software (NASDAQ: TIBX) |
Q1 |
$0.10 vs. $0.09 |
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Lululemon Athletica (TSX: T.LLL) |
Q4 |
US$0.14 vs. US$0.16 |
|
| Richelieu Hardware (TSX: T.RCH) |
Q1 |
$0.25 vs. $0.20 |
Today In The Markets
Markets retreat on worries over European debt
|
| DJIA |
10,836.15 |
-52.68 |
 |
|
| NASDAQ |
2,398.76 |
-16.48 |
|
|
| S&P500 |
1,167.72 |
-6.45 |
|
|
| S&P/TSX |
11,962.97 |
-81.57 |
|
|
| S&P/TSX Venture |
1,551.42 |
-9.94 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market moved lower Wednesday after a downgrade of Portugal's debt pressured the euro and pushed the U.S. dollar higher, which in turn punished oil and metal prices.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
CKE Restaurants (NYSE: CKR, Stock Forum)
The company, which operates chains including Carl’s Jr. and the Green Burrito, reported fourth quarter net income surged to $15.4 million or 28 cents per share on revenue of $311.7 million. That compares to its year ago net income of $2.6 million or five cents per share on revenue of $327.5 million.
Hunt Mining (TSX: V.HMX, Stock Forum)
The company announced late on Wednesday that it had filed papers with the Provincial Mining Authority for control of 17 new mineral concessions with a total area of 139,000 hectares in the Santa Cruz province of Argentina. These new gold and silver prospects will be 100% owned by the company. Costs associated with this filing were not disclosed.