Today on Stockhouse
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Andrey Dashkov of Casey Research makes a case for the return of gold-backed money.
Top Bullboards post: “Insider loading up, BIG TIME. Are we setting ourselves up for a huge profit in the coming months? It looks like Bruce has been adding to his position. I was hoping I could add more at .27, yesterday. We'll see.” From pete123 on the Bolero Resources (TSX: V.BRU, Stock Forum) board.
Top Bullboard:Copper Fox Metals (TSX: V.CUU, Stock Forum) received the most reads on a day its share price rose more than 8%.
Top blog: alphaflight argues that Japan is too big to fail in the Alpha Flight 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’s going to be constant commentary about precautionary measures — certainly they should not be a surprise to anybody, but the reaction you’re seeing from the tape tells you people are going to err on the side of selling,” said Pete McCorry, senior trader at Keefe Bruyette & Woods, in an interview with MarketWatch. “That’s the sentiment we’re going to have going forward because quite frankly, no one can tell us definitively when this is going to be over.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Actuant Corporation (NYSE: ATU) |
Q2 |
$0.30 vs. $0.21 |
|
| Cost Plus (NASDAQ: CPWM) |
Q4 |
$1.24 vs. $0.38 |
|
| FedEx Corporation (NYSE: FDX) |
Q3 |
$0.82 vs. $0.76 |
|
| Global Sources (NASDAQ: GSOL) |
Q4 |
$0.26 vs. $0.18 |
|
| Nike Inc. (NYSE: NKE) |
Q3 |
$1.11 vs. $1.01 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Pure Energy Services (TSX: T.PSV) |
Q4 |
$0.18 vs. $ - 0.13 |
|
Today In The Markets
TSX lower, EU nuclear official warns of worsening nuclear situation in Japan
|
| DJIA |
11,613.30 |
-242.12 |
 |
|
| NASDAQ |
2,616.82 |
-50.51 |
|
|
| S&P500 |
1,256.88 |
-24.99 |
|
|
| S&P/TSX |
13,524.82 |
-22.14 |
|
|
| S&P/TSX Venture |
2,131.38 |
+1.17 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed lower despite rising commodity prices as investors tried to get a grip on the extent of the Japanese nuclear crisis.
The S&P /TSX composite index closed down 22.14 points at 13,524.82.
Rising fears about the nuclear crisis persuaded investors to pile into U.S. Treasurys for a third day, which sent the Canadian dollar down 0.08 of a cent to 100.83 cents US.
Investors have been focused on frantic efforts to avert a meltdown at a nuclear station heavily damaged in last Friday's massive quake and tsunami.
Crude oil was up 80 cents at US$97.98 a barrel as a crackdown on protesters in Bahrain's capital raised worries about oil supply disruptions in the Persian Gulf.
The Dow Jones industrials fell 242.12 points to 11,613.3. The Nasdaq composite index was down 50.51 points at 2,616.82 while the S&P 500 index lost 24.99 points to 1,256.88.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
American Biltrite Inc. (Amex: ABL, Stock Forum)
American Biltrite Inc. reported its results for the fourth quarter and year end 2010. Net sales of the continuing operations for the three months ended December 31, 2010 were $51.1 million, up 14.6% from $44.6 million in the fourth quarter of 2009. Net income from continuing operations of the controlling interest was $2.2 million, or $0.65 per share (basic and diluted), compared to net income from continuing operations of $629,000, or $0.18 per share (basic and diluted) for the fourth quarter of 2009.
Lundin Mining Corp. (TSX: T.LUN, Stock Forum)
Lundin Mining Corp. reported that an assessment reviewing alternatives for recommencement of mining operations at its Aguablanca mine in Spain indicates that full operations are likely to restart in 2012. Reserves represent around five years of production. No production guidance was given for 2011.