Stockhouse @ the Bell: U.S. stocks up despite Fed comments

Today on Stockhouse

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Tony D'Altorio of Investment U suggests that thermal coal prices are set to hit record highs.

Top Bullboards post: “Now here are some details of a couple of very successful REE companies to consider. While I am not implying or saying GMA will end up as successful as these two, I am pointing out that based on some very preliminary basic similarities (IE: Possible tonnage and initial grade), GMA does have some good potential….have a look….” From freedom457 on the Geomega Resources (TSX: V.GMA, Stock Forum) board.

Top Bullboard:Allana Potash (TSX: V.AAA, Stock Forum) received the most reads and posts.

Top blog: littleguy123 explains how the vicious circle that is the U.S. housing market is getting worse 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.

Today on Stockhouse

“The winning streak is coming to an end. But the market is overbought and a bit of a cooling-off period is warranted; I could see a pullback in the 2%-to-3% range,” said Andrew Fitzpatrick, director of investments at Hinsdale Associates, in an interview with MarketWatch. “The longer-term picture is still very much intact, with an improving economy and improving earnings leading to higher stock prices.”

Today In The Markets

Teck Resources earnings report helps depress TSX; TMX group to merge with LSE

DJIA	12,239.89	+6.74
NASDAQ	2,789.07	-7.98
S&P500	1,320.88	-3.69
S&P/TSX	13,784.30	-108.22
S&P/TSX Venture	2,353.77	-27.11

Toronto & New York (The Canadian Press) - The Toronto stock market closed lower Wednesday, led by mining stocks as Teck Resources (TSX:TCK.B) delivered a disappointing earnings report and copper prices fell back from record levels.

The S&P/TSX composite index fell 108.22 points to 13,784.3 while the TSX Venture Exchange declined 27.11 points to 2,353.77.

Traders also took in merger news from the company that operates the Toronto stock market.

New York markets were lacklustre after Ben Bernanke, the U.S. Federal Reserve chairman, told members of the House of Representatives that he expects unemployment to remain high for several years. Last week, the U.S. Labour Department said the unemployment rate dropped to nine per cent in January.

The Dow Jones industrials gained 6.74 points to 12,239.89.

The Nasdaq composite index dropped 7.98 points to 2,789.07 while the S&P 500 index lost 3.69 points to 1,320.88.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Cisco Systems Inc. (NASDAQ: CSCO, Stock Forum)
Cisco Systems Inc., the worldwide leader in networking that transforms how people connect, communicate and collaborate, reported its second quarter results for the period ended January 29, 2011. Cisco reported second quarter net sales of $10.4 billion compared to $9.8 billion a year earlier. Second quarter net income on a generally accepted accounting principles (GAAP) basis was $1.5 billion or $0.27 per share, compared with $1.9 billion or 0.32 cents in the year earlier period.

Macarthur Minerals Ltd. (TSX: V.MMS, Stock Forum)
Macarthur Minerals Ltd. announced that it has entered into a financing agreement pursuant to which a syndicate led by TD Securities Inc. has offered to purchase, on a bought deal private placement basis, 8,350,000 units of the Company at a price of $3.60 per Unit for total gross proceeds of $30,060,000. Macarthur Minerals has also granted the Underwriters an option to purchase up to an additional 1,670,000 Units, which is exercisable by the Underwriters at any time up to 2 business days prior to closing. If this option is fully exercised, total gross proceeds will be $36,072,000.