Today on Stockhouse
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With copper prices up 160% in 18 months, Andrew Mickey interviews the former head of Codelco, the world’s largest copper mining company for hints about future demand for the red metal.
And Dr. John C.K. Daly of Oilprice.com sees oil as one of the root causes for the Moscow metro suicide bombings early this week.
Bearish talk is everywhere, but Frank Curzio argues that conditions favour a bullish future for stock markets.
Top Bullboards post:On the Stem Cell Therapeutics (TSX: V.SSS, Stock Forum) Bullboard discussed the company’s news that it had completed enrollment in its modified Phase IIb stroke trial. Vertualnet wrote:
“good news for the ones that believe in the product
“within a month and maybe a few weeks we'll get a news release with the good results of phase 2b. which would / should hit the sp to 1$ at least. After that we'd hope for some partnership and we'd be valued for 2-3$.”
Top Bullboard:St. Elias Mines (TSX: V.SLI, Stock Forum) and Naikun Wind Energy Group (TSX: V.NKW, Stock Forum) were fresh entries among the top three Bullboards Wednesday. Naikun shares were off 18% as some investors bet its project proposal would not be included in B.C. Hydro’s Clean Power initiative.
Top blog: On the GHOST TRADER2 blog, ghost11 posted about his gold and silver hedging strategy.
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
"The ADP number was a disappointment, but some investors are thinking that it may not directly reflect what could happen on Friday," said Terry Morris, senior equity manager at National Penn Investors Trust in Reading, Pennsylvania in an interview with Associated Press.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| CarMax (NYSE: KMX) |
Q4 |
$0.25 vs. $0.17 |
|
| Movado Group (NYSE: MOV) |
Q4 |
-$0.31 vs. -$0.42 |
| Worthington (NYSE: WOR) |
Q4 |
$0.20 vs. $0.02 |
|
| Scholastic Corp (NASDAQ: SCHL) |
Q4 |
-$0.12 vs. -$0.12 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Bombardier (TSX: T.BBD.B) |
Q4 |
US$0.15 vs. US$0.17 |
|
| Mountain Province Diamonds (TSX: T.MPV) |
Q4 |
N/A vs. N/A |
|
Today In The Markets
Disappointing jobs data keeps markets below breakeven
|
| DJIA |
10,856.63 |
-50.79 |
 |
|
| NASDAQ |
2,397.96 |
-12.73 |
|
|
| S&P500 |
1,169.43 |
-3.84 |
|
|
| S&P/TSX |
12,037.73 |
-6.48 |
|
|
| S&P/TSX Venture |
1,576.55 |
+6.17 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto stock market edged into the red Wednesday afternoon as signs of strong Canadian economic growth to start the year ran up against a negative private-sector employment report from the United States.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Micron Technology (NYSE: MU, Stock Forum)
The company swung to profits as it saw higher demand for its DRAM chips. The chipmaker said it earned $365 million or 39 cents per share, against its year ago loss of $763 million or 99 cents per share. Revenues climbed to $1.96 billion from $993 million for the same period a year ago.
Research in Motion (TSX: T.RIM, Stock Forum)
The Blackberry maker reported strong Q4 earnings after the close. The Waterloo, Ontario-based firm said it earned $710.1 million or $1.27 per share. The company reports in U.S. dollars. In the comparable quarter a year ago, RIM earned $518.3 million or 90 cents per share. Analysts were forecasting a profit of $1.28 per share (US). Revenues climbed to $4.08 billion from $3.46 billion, which was shy of estimates calling for revenue of $4.31 billion.