Stockhouse @ the Bell: Stocks fall on economic data

Today on Stockhouse

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Ticker Trax’s Thom Calandra writes about the reaction of juniors to a rising uranium spot price.

And, Matt Badiali of Growth Stock Wire describes a high-income bet on rising energy prices.

Top Bullboards post: “Bigger net pay means that they encountered hydrocarbon bearing zones. Having more net pay does not always mean you are guaranteed greater flow rates but it’s a very positive sign. In this scenario where there is a well only 1800 feet away with an 8000bopd++ flow rate already proven I would be absolutely amazed if this well tested at a lesser flow rate. imo of course.” From duderon on the Canacol Energy (TSX: V.CNE, Stock Forum) board.

Top Bullboard: Century Mining (TSX: V.CMM, Stock Forum) received the most reads and posts.

Top blog: caldernet provides the latest report of legal insider trading of Canadian-listed stocks in the $100,001 Goal 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

"These economic reports like durable goods are just another sign of a weakening economy," said David Hefty, CEO of Cornerstone Wealth Management, in an interview with Associated Press.

Today In The Markets

TSX closes lower as oil prices decline; durable goods orders pressure markets

DJIA	10,497.88	-39.81
NASDAQ	2,264.56	-23.69
S&P500	1,106.13	-7.71
S&P/TSX	11,696.63	-20.06
S&P/TSX Venture	1,410.62	+14.34

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market posted a small loss Wednesday after worrisome economic data out of the U.S. and growing crude oil inventories put downward pressure on energy stocks.

The S&P/TSX composite index was down 20.06 points to 11,696.63.

Orders to U.S. factories for big-ticket manufactured goods dropped one per cent in June, the second straight monthly decline and the largest drop since August 2009, according to the U.S. Commerce Department. The move disappointed economists, who were looking for a gain of 0.7 per cent.

The Canadian dollar slipped 0.22 of a cent to 96.29 cents US, while the TSX Venture Exchange added 14.34 points to 1,410.62.

Wall Street moved lower following the weaker-than-expected economic data. The Dow Jones industrial average lost 39.81 points to 10,497.88, while the Nasdaq composite index was down 23.69 points at 2,264.56. The S&P 500 index fell 7.71 points to 1,106.13.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Symantec Corp. (NASDAQ: SYMC, Stock Forum)
Symantec Corp. posted its financial results for the first quarter ended July 2, 2010. GAAP net income for the fiscal first quarter was US$161million or 20 cents a share, compared to income of $74 million or 9 cents in the same period last year. Revenue of $1.43 billion in the quarter was virtually unchanged from year ago levels. Symantec is a leading provider of security, storage and systems management software.

Agnico-Eagle Mines Limited (TSX: T.AEM, Stock Forum)
Agnico-Eagle Mines Limited reported a record quarterly net income of $100.4 million, or $0.64 per share, for the second quarter of 2010. This result includes a non-cash foreign currency translation gain of $17.4 million, or $0.11 per share, as well as a one-time tax recovery of $21.2 million, or $0.14 per share. The result also includes non-cash stock-based compensation expense of $8.1 million, or $0.05 per share. In the second quarter of 2009, the Company reported net income of $1.2 million, or $0.01 per share.