Today on Stockhouse
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James Turk of GoldMoney.com explains why the scramble for physical metal is intensifying.
Top Bullboards post: “Result's similar as last time ... this at least shows consistency. The numbers are very good imo with over 2oz/ton. The big question is "Will the market finally recognize these N.R's in a positive way??"...glta.” From specul8tor on the Canasia Industries (TSX: V.CAJ, Stock Forum) board.
Top Bullboard: Uranium One (TSX: T.UUU, Stock Forum) received the most reads and the second-most posts on a day its stock dropped 17%.
Top blog: Risktaker77 provides the blogger’s latest risky resource stock picks in the Risky Picks... 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
"There is no question that near term this tax deal will be a net positive for the economy because it will help growth," said Nariman Behravesh, chief economist at IHS Global Insight, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Analogic Corporation (NASDAQ: ALOG) |
Q1 |
$0.39 vs. $0.00 |
|
| Costco Wholesale (NASDAQ: COST) |
Q1 |
$0.69 vs. $0.60 |
|
| National Semiconductor (NYSE: NSM) |
Q2 |
$0.32 vs. $0.20 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Harry Winston Diamond (TSX: T.HW) |
Q3 |
$0.10 vs. $0.00 |
|
Today In The Markets
TSX lower amid worries that China may take further moves to slow economy
|
| DJIA |
11,372.48 |
+13.32 |
 |
|
| NASDAQ |
2,609.16 |
+10.67 |
|
|
| S&P500 |
1,228.28 |
+4.53 |
|
|
| S&P/TSX |
13,152.00 |
-98.67 |
 |
|
| S&P/TSX Venture |
2,098.84 |
-18.37 |
|
|
Toronto & New York (The Canadian Press) - Worries about further moves to slow the Chinese economy punished resource stocks and sent the Toronto stock market lower Wednesday.
The S&P /TSX composite index dropped 82.08 points to 13,168.59 while the TSX Venture Exchange lost 24.63 points to 2,092.58.
New York markets were weak amid better than expected earnings from Costco Wholesale while Home Depot said it expects higher profits and revenue.
The Dow Jones industrial average inched up 4.73 points to 11,363.89.
The Nasdaq composite index gained 6.26 points to 2,604.75 while the S&P 500 index added 2.33 points at 1,226.08.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Ryder System, Inc. (NYSE: R, Stock Forum)
Ryder System, Inc., a leader in supply chain, warehousing and transportation management solutions, said it has signed an agreement to acquire Holland, Michigan-based Total Logistic Control, an independently run, wholly owned subsidiary of SUPERVALU. TLC is a leading provider of comprehensive supply chain solutions to food, beverage, and consumer packaged goods manufacturers with significant supply chains in the U.S.
SouthGobi Resources Ltd. (TSX: T.SGQ, Stock Forum)
SouthGobi Resources Ltd., said the company has signed a coal supply agreement with North Asia Energy Group Ltd.(NAEG) for the sale of 450,000 tonnes of coal in 2011 and another for 500,000 tonnes of coal in 2011 with a large international company. NAEG is a venture between North Asia Resources Holdings Limited and China Railway Mongolia Investment LLC, which is a member of China Railway Group Ltd., a significant Chinese state owned enterprise involved in railway construction and management.