Today on Stockhouse
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Mary Anne & Pamela Aden offer an explanation of what the charts are telling us about gold's bull market.
And, Marc Lichtenfeld of Investment U makes a case for why cash flow is so crucial for picking stocks.
Top Bullboards post: “According to Paramount's document, X-Cal is being valued at $C8.6 / oz Au Eq, which is low enough that it could attract other bidders, if anyone is interested. I'd be curious to see what some of the bigger shareholders like Sprott and Kinross do, if anything.” From jsladek on the X-Cal Resources (TSX: T.XCL, Stock Forum) board.
Top Bullboard: Gold Bullion Development (TSX: V.GBB, Stock Forum) received the most reads and posts on a day its stock price surged more than 11%.
Top blog: Sharpetrader discusses what the charts are saying about the gold price in the Sharpe Trader 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
"The Fed is acknowledging what we're all seeing," said Mike Materasso, co-chair of the fixed income policy committee at Franklin Templeton, in an interview with Associated Press. "There are problems in Europe, we've gotten a string of data in the U.S. with regard to employment, housing and even retail sales that is disappointing."
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| AeroVironment (NASDAQ: AVAV) |
Q4 |
$0.59 vs. $0.27 |
|
| Finish Line (NASDAQ: FINL) |
Q1 |
$0.15 vs. $0.03 |
|
| Lennar Corp. (NYSE: LEN) |
Q2 |
$0.00 vs. $ - 0.76 |
|
| Oracle Corp. (NASDAQ: ORCL) |
Q4 |
$0.54 vs. $0.46 |
|
| Park Electrochemical (NYSE: PKE) |
Q1 |
$0.45 vs. $0.15 |
|
| Tibco Software (NASDAQ: TIBX) |
Q2 |
$0.13 vs. $0.11 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Research In Motion (TSX: T.RIM) |
Q1 |
US$1.34 vs. $1.12 |
|
|
Today In The Markets
North American stocks rose slightly Wednesday after the U.S. Fed left rates unchanged, and investors pondered a weak U.S. housing market report.
|
| DJIA |
10,298.44 |
+4.92 |
 |
|
| NASDAQ |
2,254.23 |
-7.57 |
 |
|
| S&P500 |
1,092.04 |
-3.27 |
|
|
| S&P/TSX |
11,807.50 |
+9.56 |
|
|
| S&P/TSX Venture |
1,455.89 |
-2.05 |
|
|
TORONTO-NEW YORK (The Canadian Press) - Stock markets closed little changed after the U.S. Federal Reserve opted to keep its key interest rate unchanged at an historic low of between zero and 0.25 per cent.
The S&P/TSX composite index closed up 9.56 points to 11,807.5 while the Dow Jones industrials was ahead 4.92 points to 10,298.44.
The U.S. central bank says it will continue to keep rates low for an extended period of time to help the economy recover from a severe recession.
The Canadian dollar was down 0.89 of a cent to 96.28 cents US as Statistics Canada reported that retail sales fell two per cent in April following a gain of similar magnitude in March.
Oil lost $1.50 to US$76.35 a barrel.
Elsewhere in New York, the Nasdaq composite index was down 7.57 points to 2,254.23 and the S&P 500 index was down 3.27 points to 1,092.04.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Dell Inc. (NASDAQ: DELL, Stock Forum)
Dell Inc. said it expects revenue for fiscal 2011 to increase by 14% to 19% over fiscal 2010. Dell also said it expects that non-GAAP operating income will increase by 18% to 23% over fiscal 2010 and cash flow from operations will be greater than net income for the current year.
CoolBrands International Inc. (TSX: T.COB, Stock Forum)
CoolBrands International Inc. released its financial results for the third quarter of fiscal 2010 ended May 31, 2010. The company reported a loss of $111,000, or zero cents per fully diluted share in the quarter, compared to a loss of $965,000, or two cents per fully diluted share in the third quarter of fiscal 2009.
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