Today on Stockhouse
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Danny Deadlock of MicroCap.com writes about a gold/base metals junior hoping for a follow up to its first big hit.
Top Bullboards post: “TRR is constructing their own mill later this year (as per the NR this morning). I remember seeing that they planned to mill up 30k oz initially and ramp up to +60k oz/year following. So like I said before, that's quite the bold statement to make so they obviously have the ounces. I would guess somewhere in the neighbourhood of 2-4 million oz to date (which the 43-101 next month should reflect and increasing to 5-7m oz as they continue to drill).” From gamblor77 on the Trelawney Mining and Exploration (TSX: V.TRR, Stock Forum) board.
Top Bullboard:Great Western Minerals Group (TSX: V.GWG, Stock Forum) received the second-most reads and the third-most posts.
Top blog: littleguy123 provides Part II of his article High Wages and Economic Prosperity 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
Wall Street’s rise comes on “optimism that the president brought with the State of the Union - it talks to the point that I’ve been saying all this time: The economy is improving; it’s just a matter of Main Street believing it,” said Robert Pavlik, chief market strategist at Banyan Partners, in an interview with MarketWatch. “New-home sales coming in above expectations, I think that also helped.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Amazon.com (NASDAQ: AMZN) |
Q4 |
$0.88 vs. $0.85 |
|
| Caterpillar (NYSE: CAT) |
Q4 |
$1.27 vs. $0.41 |
|
| Franklin Resources (NYSE: BEN) |
Q1 |
$1.91 vs. $1.54 |
|
| Informatica Corporation (NASDAQ: INFA) |
Q4 |
$0.37 vs. $0.31 |
|
| Microsoft (NASDAQ: MSFT) |
Q2 |
$0.68 vs. $0.74 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Potash Corp. (TSX: T.POT) |
Q4 |
US$1.66 vs. $0.80 |
|
Today In The Markets
Toronto stock market makes big gains on rising mining, energy stocks
|
| DJIA |
11,985.44 |
+8.25 |
 |
|
| NASDAQ |
2,739.50 |
+20.25 |
|
|
| S&P500 |
1,296.63 |
+5.45 |
|
|
| S&P/TSX |
13,465.75 |
+206.12 |
|
|
| S&P/TSX Venture |
2,250.50 |
+47.78 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed up sharply as commodity prices stabilized and mining and energy stocks made big strides.
The S&P/TSX composite index rose 206.12 points to 13,465.75 with the materials, mining and energy sectors leading the way.
The Canadian dollar was up 0.23 of a cent at 100.23 cents US.
The March crude contract was up $1.14 at US$87.33 a barrel after falling more than four per cent in less than a week on mixed economic news and the possibility of increased OPEC production.
On Wall street, investors largely shrugged off weak earnings results and focused on President Barack Obama's call to overhaul corporate taxes.
The Dow Jones industrial average rose 8.25 points to 11,985.44. The Nasdaq gained 20.25 points to 2,739.50 and the S&P 500 was up 5.45 points at 1,296.63.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Starbucks Corp. (NASDAQ: SBUX, Stock Forum)
Starbucks Corp. (NASDAQ: SBUX, Stock Forum) reported financial results for its fiscal first quarter ended January 2, 2011. A previously-announced restructuring program, which was in effect during the fiscal 2008-2010 period, was completed at the end of fiscal year 2010. As a result, there are no restructuring charges reflected in fiscal Q1 2011. Total net revenues in the quarter rose to $2.95 billion from $2.72 billion. Quarterly net earnings jumped to $346.6 million or 45 cents, from $241.5 million or 32 cents a year earlier.
Brookfield Asset Management Inc. (TSX: T.BAM.A, Stock Forum)
Brookfield Asset Management Inc. announced that it has agreed to issue approximately 15,300,000 Class A Common Shares, on a bought deal basis, to a syndicate of underwriters led by RBC Capital Markets, CIBC World Markets, TD Securities Inc. and Scotia Capital Inc. at a price of C$32.85 per Class A Share for aggregate gross proceeds of C$502.6 million. In addition, the Company has granted the Underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following closing, to purchase up to an additional 2,295,000 Class A Shares at the offering price, which, if exercised, would increase the gross offering size to $578.0 million.