Today on Stockhouse
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Steven Saville looks at what is really driving the long-term bull market in commodities.
Andrea Kramer explains why contrarians should take a look at United Technologies.
Peter Kennedy reports on the Kingsway accountant, who is facing tipping allegations.
Top Bullboards post: Has Blue Sky Uranium even starting working on exploring these anomalies? A simple news release wouldn’t hurt. I would love to put my foot in my mouth on my bashing here, but I don’t think it’s going to happen any time soon. Though the bid/ask swing looks a bit promising, and volumes have still remains, it would be nice to form a base here and get an actual news release. But heaven forbid. From MommaZita in the Blue Sky Uranium Corp. (TSX: V.BSK, Stock Forum) board.
Top Bullboard: Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: V. HNU, Stock Forum) once again received the most reads and posts on a day its share price eased 1.7%.
Top blog: Edminnema says smuggling of rare earths has become a series issue in the Nthenos Knows 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
Rising interest rates are “beginning to take the air out of the equity momentum,” said Peter Boockvar, equity strategist at Miller Tabak in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Accenture Plc (NYSE: ACN) |
Q1 |
$0.75 vs. $0.67 |
|
| FedEx Corp. (NYSE: FDX) |
Q2 |
$1.31 vs. $1.10 |
|
| General Mills Inc. (NYSE: GIS) |
Q2 |
$0.78 vs. $0.77 |
|
| Rite Aid Corp. (NYSE: RAD) |
Q3 |
-$0.13 vs. -$ 0.10 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Research in Motion (TSX: T.RIM) |
Q3 |
$1.64 vs $1.10 |
|
|
Today In The Markets
TSX declines amid worries about possible European government credit downgrades
|
| DJIA |
11,457.47 |
-19.07 |
 |
|
| NASDAQ |
2,617.22 |
-10.50 |
|
|
| S&P500 |
1,235.23 |
-6.36 |
|
|
| S&P/TSX |
13,229.07 |
-51.01 |
|
|
| S&P/TSX Venture |
2,100.94 |
-16.76 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed lower for a second session Wednesday with investors selling stocks across most sectors amid the latest round of worries about Europe's debt crisis.
The S&P/TSX composite index dropped 51.01 points to 13,229.07, while the TSX Venture Exchange slipped 16.76 points to 2,100.94.New York's Dow Jones industrial average was down 19.07 points at 11,457.47.
The Nasdaq composite index fell 10.5 points to 2,617.22 while the S&P 500 index slipped 6.36 points to 1,235.23.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
El Paso Pipeline Partners, L.P. (NYSE: EPB, Stock Forum)
El Paso Pipeline Partners, L.P. announced that the underwriters of its common unit offering exercised their option to purchase 1,379,900 additional common units at a public offering price of $33.45 per unit, less underwriting discounts and commissions. The option was granted in connection with the partnership's public offering of 10,500,000 common units, which was completed in November 2010. The closing of the over-allotment option is expected to occur December 17, 2010.
Frontline Gold Corp. (TSX: V.FGC, Stock Forum)
Frontline Gold Corp. announces that subject to TSX Venture approval, Frontline will make a $7,500 payment due on the Stewart property in northwestern British Columbia by the issuance of 42,857 common shares from treasury at today's closing price of $0.175 per share. The shares will be issued to Ralph R. Weekes (17,143 shares), John L. Tranter (12,857 shares) and James R. Cameron (12,857 shares). A concurrent share payment of 25,000 shares is being made to Kelly B. Funk c/o 802213 Alberta Ltd.
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