Today on Stockhouse
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Jim Sinclair of Oilprice.com believes a bankrupt BP would be worse than Lehman Brothers for the global economy.
While Keith Schaefer asserts that raw land can be worth millions as shown by oilpatch buyouts.
Top Bullboards post: “Clearly management at RIM didn't have any forward vision when it was clear to the world Apple was selling a far superior product … they also seemed to miss the fact there is no longer any business phone market.. smartphones are now just cell phones.. they're all smart.. they missed the boat on that.. their R&D into a fun phone/platform should have begun five years ago.. a mobile email device is hardly exciting … IMO they need to build gaming devices and leverage that advantage before Microsoft or Apple enters the wireless handheld mobile gaming fray. They can offer a value added option to existing networks via their own proprietary network OS.. a revenue earner for them and their clients.” From InDaMoney on the Research In Motion (TSX: T.RIM, Stock Forum) board.
Top Bullboard: Gold Bullion Development (TSX: V.GBB, Stock Forum) collected the most posts and the third-most reads.
Top blog: littleguy123 believes a second U.S. housing market bubble is beginning to burst in his Outside the Market blog.
For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"The fact that you have certainty, and not necessarily a friendly bill but a bill that you now know exactly what's in it and what it constitutes, that certainly is being received well in today's market," said Gary Flam, portfolio manager of Bel Air Investment Advisors, in an interview with MarketWatch, referring to a U.S. Congressional agreement on a landmark package of financial regulations.
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Barnes & Noble (NYSE: BKS) |
Q4 |
$ - 0.81 vs. $ - 0.04 |
|
| Micron Technology (NASDAQ: MU) |
Q3 |
$0.42 vs. $ - 0.57 |
|
| Standard Microsystems (NASDAQ: SMSC) |
Q1 |
$0.27 vs. $ - 0.15 |
|
| Zep, Inc. (NYSE: ZEP) |
Q3 |
$0.26 vs. $0.25 |
|
|
Today In The Markets
Commodities lift TSX even as U.S. Q1 growth, RIM revenue fall short
|
| DJIA |
10,143.81 |
-8.99 |
 |
|
| NASDAQ |
2,223.48 |
+6.06 |
 |
|
| S&P500 |
1,076.76 |
+3.07 |
|
|
| S&P/TSX |
11,707.85 |
+37.67 |
|
|
| S&P/TSX Venture |
1,458.72 |
+6.97 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher as oil prices and energy stocks ran ahead despite data which showed that U.S. economic growth in the first quarter wasn't as great as originally thought.
The S&P/TSX composite index closed up 37.67 points to 11,707.85 and the Canadian dollar was ahead 0.72 of a cent to 96.53 cents U.S.
Stocks had been lower earlier in the session after U.S. gross domestic product rose by 2.7 per cent in the first quarter, less than the three per cent estimate that the government released last month.
Energy stocks made headway as oil rose $2.35 to US$78.86 a barrel.
New York markets were mainly weak with the Dow Jones industrial average was 8.99 points lower to 10,143.81.
The Nasdaq composite index was ahead 6.06 points to 2,223.48 while the S&P 500 index gained 2.93 points to 1,076.62.
Please click here for the complete U.S. and Canadian market summaries.
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