Today on Stockhouse
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Marc Davis of BNWnews.ca discusses whether there’s a new gold super-deposit in the making in Alaska.
This as TickerTrax’s Danny Deadlock reveals what he likes about this precious poly-metallic play.
Top Bullboards post: “While I like the intersects and grades, I still remain skeptic as the bulk of the drilling outlines a zone under Springpole lake. How can GCU mine it? Is it possible to drain [pump out] the lake?? It’s UNDERWATER.” From nalibokore8 on the Gold Canyon Resources (TSX: V.GCU, Stock Forum) board.
Top Bullboard: Seafield Resources (TSX: V.SFF, Stock Forum) received the most reads and the third-most posts on a day its share price rose more than 10%.
Top blog: littleguy123 writes about the relationship between oil and U.S. hyperinflation in the Outside the Market 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
“There is no question that jobless claims have been going slowly in the right direction for a good two months now,” said Fred Fraenkel, vice chairman of Beacon Trust Co., in an interview with MarketWatch. Recent weeks have seen “a continuation of evidence that we have a sluggish recovery in place,” he added.
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Today In The Markets
Growing confidence in economic recovery pushes Toronto stock market higher
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| DJIA |
11,370.06 |
-2.42 |
 |
|
| NASDAQ |
2,616.67 |
+7.51 |
 |
|
| S&P500 |
1,233.00 |
+4.72 |
|
|
| S&P/TSX |
13,166.94 |
+14.94 |
|
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| S&P/TSX Venture |
2,108.88 |
+10.04 |
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Toronto & New York (The Canadian Press) - The Toronto stock market closed modestly higher Thursday as investors looked to some positive economic news from around the globe and bid commodity stocks higher.
The S&P/TSX composite index rose 14.94 points to 13,166.94 while the TSX Venture Exchange moved 10.04 points higher to 2,108.88.
New York markets were mixed as other data showed that U.S. business inventories at the wholesale level rose for the 10th straight month. The Commerce Department says wholesale inventories rose 1.9 per cent in October, a much larger gain than many economists were expecting, while sales jumped 2.2 per cent.
Dow Jones industrials slipped 2.42 points to 11,370.06.
The Nasdaq composite index gained 7.51 points to 2,616.67 while the S&P 500 index climbed 4.72 points to 1,233.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Overhill Farms, Inc. (AMEX: OFI, Stock Forum)
Overhill Farms, Inc. reported net revenues of US$194.5 million for the fiscal year ended September 26, 2010, and net income of $7.6 million or $0.48 per basic and $0.47 per diluted common share. This compares to net revenues of $209.9 million, and net income of $8.3 million or $0.52 per basic share and diluted common share, for the year ended September 27, 2009.
IAMGOLD Corp. (TSX: T.IMG, Stock Forum)
IAMGOLD Corp. reported that it has increased its annual dividend payment by 33% from $0.06 per share to $0.08 per share. The annual dividend will be paid on January 14, 2011 to shareholders of record as of the close of trading on December 24, 2010. In addition, the company has provided guidance for 2011, with gold production expected to increase by approximately 20% over the current forecast production for 2010.
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