Today on Stockhouse
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Ticker Trax’s Thom Calandra presents answers to the questions he has for one of his favorite junior miners.
And, Steven Saville provides a long-term perspective on gold stocks.
Top Bullboards post: “The best part of the news is that the Theory of Rau being another Carlin Trend is getting closer and closer to being confirmed geologically. That is quite the feather in ATAC and Archer Cathro Carne's caps …really impressive.” From TIM9LIVES on the ATAC Resources (TSX: V.ATC, Stock Forum) board.
Top Bullboard: Gold Bullion Development (TSX: V.GBB, Stock Forum) received the most reads and the third-most posts.
Top blog: littleguy123 debates hoarding versus shorting in the commodities market in the Outside the Market 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
"It's a sigh of relief that today's data wasn't worse, and we did see the August ISM manufacturing index go up, counter to all expectations," said Robert Dye, senior economist at PNC Financial Services, in an interview with MarketWatch. "The market is starting to have second thoughts about the double dip. We will see positive but weak economic growth for the remainder of this year, but not a double dip."
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| ArcSight (NASDAQ: ARST) |
Q1 |
$0.13 vs. $0.09 |
|
| Cascade Corp. (NYSE: CASC) |
Q2 |
$0.50 vs. $-1.14 |
|
| Finisar (NASDAQ: FNSR) |
Q1 |
$0.23 vs. $0.03 |
|
| Methode Electronics (NYSE: MEI) |
Q1 |
$0.15 vs. $0.00 |
|
| The Cooper Companies (NYSE: COO) |
Q3 |
$0.71 vs. $0.54 |
|
| UTi Worldwide (NASDAQ: UTIW) |
Q2 |
$0.17 vs. $0.12 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Cdn Western Bank (TSX: T.CWB) |
Q3 |
$0.45 vs. $0.11 |
|
| Laurentian Bank (TSX: T.LB) |
Q3 |
$1.13 vs. $1.08 |
|
| Toronto-Dominion Bank (TSX: T.TD) |
Q3 |
$1.44 vs. $1.47 |
|
Today In The Markets
TSX closes higher, commodities rise on strong U.S., Chinese manufacturing data
|
| DJIA |
10,269.47 |
+254.75 |
 |
|
| NASDAQ |
2,176.84 |
+62.81 |
|
|
| S&P500 |
1,080.29 |
+30.96 |
|
|
| S&P/TSX |
12,003.78 |
+89.92 |
|
|
| S&P/TSX Venture |
1,517.63 |
+18.00 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto stock market closed at a three-and-a-half month high Wednesday, led by energy and mining companies after strong manufacturing figures from the U.S. and China raised hopes for improved economic activity and higher demand.
The S&P/TSX composite index closed up 89.92 points to 12,003.78 while the TSX Venture Exchange rose 18 points to 1,517.63.
New York's Dow Jones industrials surged 254.75 points to 10,269.47.
The Nasdaq composite index jumped 62.81 points to 2,176.84 while the S&P 500 index ran up 30.96 points to 1,080.29.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Walgreen Co. (NYSE: WAG, Stock Forum) (NASDAQ: WAG, Stock Forum) said it has reached a definitive agreement with Graymark Healthcare Inc. (NASDAQ: GRMH, Stock Forum) in which the company will acquire the assets of 18 ApothecaryRx pharmacies located in Colorado, Oklahoma, Minnesota, Missouri and Illinois. Graymark Healthcare operates its independent retail pharmacy business through ApothecaryRx, LLC, its wholly-owned subsidiary.
Donner Metals Ltd. (TSX: V.DON, Stock Forum) said it has received a NI 43-101 compliant inferred resource for the McLeod Deep Zone from its partner Xstrata Canada Corp. on the Matagami Project in central Quebec. Based on eight diamond drill holes with an intercept spacing of approximately 100 metres, an inferred mineral resource for the McLeod Deep zone massive sulphides currently stands at 2.07 million tonnes grading 10.66% zinc, 1.33% copper, 41.72grams per tonne silver and 1.21grams per tonne gold. The McLeod Deep zone is located down-dip from planned underground infrastructure in the McLeod zone which is currently under development.