Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Matt Badiali of Growth Stock Wire believes drilling is just getting started at the next big U.S. oil play.
This as Steven Saville wonders if the Fed really needs to fire up the printing presses.
Top Bullboards post: “Although the past month has put some doubt in my mind, I can't believe that after coming this far and seeing the finish line in sight, that somebody with deep pockets won't bridge the timelines. As P11 illustrated in his example, a small PP would give us some confidence (especially if insiders buy in) and dispel the risk that ISA won't even be around to see voclosporin get approved. Also, Lux didn't hire a new CEO that specializes in "building value around an approved drug" when they don't even have an approved drug for nothing. Lux is supported by smart VC people behind the scenes and they want a return on their money by seeing Lux go public and this won't happen until voclospoin is approved. This story isn't over yet. Somebody knows something and its coming before Sept. 9th.” From ngerrits on the Isotechnika Pharma (TSX: T.ISA, Stock Forum) board.
Top Bullboard: Gold Bullion Development (TSX: V.GBB, Stock Forum) received the most reads and posts.
Top blog: LexLuthor2 provides his list of junior mining stocks to watch in the Lex Corp 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
"The Philly Fed number was just awful," said Randy Frederick, director of trading and derivatives at Charles Schwab, in an interview with Associated Press. "The jobs number was bad, but not as far off the mark as the Philly number."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| AnnTaylor Stores (NYSE: ANN) |
Q2 |
$0.33 vs. $0.06 |
|
| Champion Industries (NASDAQ: CHMP) |
Q3 |
$0.02 vs. $0.00 |
|
| Hibbett Sports (NASDAQ: HIBB) |
Q2 |
$0.16 vs. $0.04 |
|
|
|
Today In The Markets
Stocks retreat amid weak U.S. economic outlook, manufacturing data
|
| DJIA |
10,271.21 |
-144.33 |
 |
|
| NASDAQ |
2,178.95 |
-36.75 |
|
|
| S&P500 |
1,075.63 |
-18.53 |
|
|
| S&P/TSX |
11,710.18 |
-70.90 |
|
|
| S&P/TSX Venture |
1,473.35 |
+3.38 |
 |
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market moved lower Thursday as oil and metal prices gave up ground in the wake of U.S. economic reports that deepened worries about economic growth for the rest of 2010.
The S&P/TSX composite index fell 70.9 points to 11,710.18 while the TSX Venture Exchange rose 3.38 points to 1,473.35.
New York's Dow Jones industrials lost 144.33 points to 10,271.21.
The Nasdaq composite index gave back 36.75 points to 2,178.95 while the S&P 500 index fell 18.53 points to 1,075.63.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Hewlett Packard Co. (NYSE: HPQ, Stock Forum)
Hewlett Packard Co. tabled its financial results for the third quarter ended July 31, 2010. HP reported net income of $1.77 billion, or 75 cents per share, compared to $1.67 billion or 69 cents in the same period last year. Third quarter revenue was $30.7 billion, up from $27.6 million in the year ago period.
Koss Corp. (NASDAQ: KOSS, Stock Forum)
Koss Corp. the Milwaukee, Wisc., high-fidelity stereophone creator, tabled fiscal fourth quarter earnings for the period ended June 30, 2010. Sales for the fourth quarter dropped 14% to $8.1 million, compared to $9.4 million for the same period one year ago. The net loss for the quarter was $423,450 compared to a loss of $1.1 million for the fourth quarter last year. Fourth quarter diluted loss per share was $0.05 compared to a loss of $0.14 one year ago.