Today on Stockhouse
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Ticker Trax’s Thom Calandra examines whether there should be apremium or discount for this gold junior stock.
Matt Badiali of Growth Stock Wire, meanwhile, suggests investors own these companies for the next leg up in gold.
Top Bullboards post: “We expect holes in the CMZ to have mineralization, but the exciting part is that some if these new results are from stepout holes. If I read it correctly, two of the stepout holes are 450m apart from each other. Great news!” From JoeKool on the Colossus Minerals (TSX: T.CSI, Stock Forum) board.
Top Bullboard: Stem Cell Therapeutics (TSX: V.SSS, Stock Forum) received the most reads and posts.
Top blog: sydenham believes this tiny tech stock is an attractive takeover target in the Under the Radar blog.
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"We're just bouncing around in a range with that number," said Mike O'Rourke, chief market strategist at BTIG, in an interview with MarketWatch. "That's not enough to create the amount of jobs we need to get the unemployment rate down. We need them to get down to the 400,000 or below level."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| AZZ incorporated (NYSE: AZZ) |
Q1 |
$0.57 vs. $0.80 |
|
| KB Home (NYSE: KBH) |
Q2 |
$ - 0.31 vs. $ - 1.03 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Empire Co. (TSX: T.EMP.A) |
Q4 |
$1.04 vs. $0.97 |
|
|
Today In The Markets
Stocks fall sharply, investors tentative about economic recovery prospects
|
| DJIA |
10,152.80 |
-145.64 |
 |
|
| NASDAQ |
2,217.42 |
-36.81 |
|
|
| S&P500 |
1,073.69 |
-18.35 |
|
|
| S&P/TSX |
11,670.18 |
-137.32 |
|
|
| S&P/TSX Venture |
1,451.75 |
-4.14 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed sharply lower after cautious words from the U.S. Federal Reserve and economic data deepened pessimism about the American economic rebound.
The S&P/TSX composite index lost 137.32 points to 11,670.18 while the Canadian dollar was down 0.49 of a cent to 95.81 cents US.
The negative session followed a suggestion from the Fed that the U.S. economic recovery is uneven and vulnerable to turmoil in the markets. Meanwhile, fresh reports on jobless insurance claims and durable goods orders painted a mixed picture of the economy.
Oil rose 16 cents to US$76.51 barrel.
The Dow Jones industrial average fell 145.64 points to 10,152.8.
The Nasdaq composite index dropped 36.81 points to 2,217.42 while the S&P 500 index was down 18.35 points to 1,073.69.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Oracle Corp. (NASDAQ: ORCL, Stock Forum)
Oracle Corp. posted its financial results for the fourth quarter ended May 31, 2010. The company said GAAP total revenues were up 39% to US$9.5 billion from $6.9 billion in the same period last year. GAAP net income for the period was up 25% to $2.4 billion from $1.9 billion. Results indicate renewed interest in the California company’s software.
Research In Motion Limited (TSX: T.RIM, Stock Forum)
Research In Motion Limited reported first quarter results for the three months ended May 29, 2010. The company said revenue rose 24% to US$4.24 billion in the quarter from $3.42 billion in the equivalent period last year. Net income for the quarter was $768.9 million or $1.38 per share (diluted), up from $643 million or $1.12 per share a year earlier. The company said Blackberry smartphone shipments were up 43% from the same quarter last year.
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