Today on Stockhouse
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Tony D'Altorio of Investment U explains why emerging markets' coal demand is heating up.
This as Jeb Handwerger argues that uranium is the new yellow metal in town.
Top Bullboards post: “I am not a geologist but I can read a news release. The high grade structures are steeply dipping not the drill hole. Big difference. The results of this drilling at North Stock have started to define a network of an astomozing, northeast-trending, steeply dipping high grade structures within the core of the North Stock gold zone. To date, drilling indicates a total strike length of this high grade zone of gold veins of approximately 300 meters.” From Irulecrap on the Evolving Gold (TSX: V.EVG, Stock Forum) board.
Top Bullboard: ATAC Resources (TSX: V.ATC, Stock Forum) received the most reads and the second-most posts on a day its share price slipped more than 9%.
Top blog: littleguy123 describes the ambush that took place in the precious metals 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
"The U.S. economy is all about jobs and anything that leads folks to believe that there's a better job market will be good for equities," said Paul Zemsky, the head of asset allocation at ING Investment Management, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Del Monte Foods Co. (NYSE: DLM) |
Q2 |
$0.35 vs. $0.36 |
|
| Magma Design Automation (NASDAQ: LAVA) |
Q2 |
$0.06 vs. $0.03 |
|
| The Kroger Co. (NYSE: KR) |
Q3 |
$0.32 vs. $0.27 |
|
| UTi Worldwide (NASDAQ: UTIW) |
Q3 |
$0.25 vs. $0.18 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| CIBC (TSX: T.CM) |
Q4 |
US$1.66 vs. $1.38 |
|
| National Bank Financial Group (TSX: T.NA) |
Q4 |
$1.58 vs. $1.40 |
|
| TD Bank Financial Group (TSX: T.TD) |
Q4 |
US$1.45 vs. $1.46 |
|
Today In The Markets
Markets rally on U.S. job creation
|
| DJIA |
11,255.78 |
+249.76 |
 |
|
| NASDAQ |
2,549.43 |
+51.20 |
|
|
| S&P500 |
1,206.07 |
+19.47 |
|
|
| S&P/TSX |
13,148.35 |
+195.47 |
|
|
| S&P/TSX Venture |
2,087.16 |
+14.72 |
|
|
Toronto & New York (The Canadian Press) - North American stocks markets rallied Wednesday, as a report showed small businesses in the U.S. were hiring more workers and the European Central Bank indicated it will do whatever is necessary to support the financial stability of member countries.
In Toronto, the S&P/TSX composite index finished the day up 195.5 points, or 1.5 per cent, to 13,148.3.
The TSX-Venture Exchange was up 14.72 points to 2087.16.
U.S. stock markets opened what is historically their best month with strong gains.
The Dow Jones industrial average soared 249.8 points, or 2.3 per cent, to 11,255.8. The S&P 500 rose 25.5 points, or 2.2 per cent, to 1,206.1. The Nasdaq composite rose 51.2 points, or 2.1 per cent, to 2,549.4.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Casella Waste Systems, Inc. (NASDAQ: CWST, Stock Forum)
Casella Waste Systems, Inc., a regional solid waste, recycling and resource management services company, reported growth in both revenue and operating income as it released its financial results for the second quarter of its 2011 fiscal year. For the quarter ended October 31, 2010, revenues were $141.0 million, up $7.9 million or 5.9 percent over the same quarter last year. The company's net loss applicable to common shareholders was $1.2 million, or $0.04 per common share for the quarter, compared to a loss of $1.6 million, or $0.06 per share for the same quarter last year.
Sterling Resources Ltd. (TSX: V.SLG, Stock Forum)
Sterling Resources Ltd. is pleased to announce that it has entered into a bought deal financing agreement with a syndicate of underwriters co-led by Wellington West Capital Markets Inc. and RBC Capital Markets to issue 21,670,000 common shares at a price of $3.00 per Common Share for gross proceeds of $65,010,000. If the over-allotment option is exercised in full, the gross proceeds raised pursuant to the Offering will be $74,761,500.