Today on Stockhouse
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Ticker Trax’s Thom Calandra explains why this gold fund looks cheap.
Top Bullboards post: “Nice results, and given the outlook for silver over the next 2-3 years this stock looks nicely positioned. I see they are still awaiting the results of a 4th hole along the same structure. They have also requested a second drill to continue with some infill drilling once the 4th hole is completed and analysis is available. Interesting that the news was released, then the stock is halted "pending news at the request of the company"…looks like today’s release should have come out after the halt. It could however, be a private placement. None the less a very positive news release and a company headed in the right direction…congrats to the longs on an exceptional hole.” From mrcashflow on the Soltoro (TSX: V.SOL, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts on a day its stock dropped more than 35%.
Top blog: fredski presents a special report on how China is set to unearth shale power in the Carpe Diem 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
"The (earnings) reporting season continues to provide fuel for the fire," said Anthony Grech, head of research at IG Index, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Advanced Micro Devices (NYSE: AMD) |
Q1 |
$0.05 vs. $0.09 |
|
| Dover Corp. (NYSE: DOV) |
Q1 |
$0.90 vs. $0.65 |
|
| General Electric Co. (NYSE: GE) |
Q1 |
$0.28 vs. $0.21 |
|
| Honeywell International (NYSE: HON) |
Q1 |
$0.82 vs. $0.63 |
|
| McDonald's (NYSE: MCD) |
Q1 |
$1.14 vs. $1.03 |
|
| Newmont Mining (NYSE: NEM) |
Q1 |
$1.01 vs. $0.83 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian Pacific Railway (TSX: T.CP) |
Q1 |
$0.18 vs.$0.60 |
|
| Celestica (TSX: T.CLS) |
Q1 |
$0.23 vs. $0.19 |
|
Today In The Markets
Toronto stock market up sharply amid strong earnings, higher oil prices
|
| DJIA |
12,453.54 |
+186.79 |
 |
|
| NASDAQ |
2,802.51 |
+57.54 |
|
|
| S&P500 |
1,330.36 |
+17.74 |
|
|
| S&P/TSX |
13,897.48 |
+160.65 |
|
|
| S&P/TSX Venture |
2,262.89 |
+29.49 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market racked up a solid gain Wednesday afternoon as a weaker American currency helped send oil prices surging while investors were encouraged by positive earnings reports.
The S&P /TSX composite index gained 160.65 points to 13,897.48 while the TSX Venture Exchange was up 29.49 points to 2,262.89.
New York markets also shot ahead with the Dow Jones industrial average surging 186.79 points to 12,453.54.
The Nasdaq composite index climbed 57.54 points to 2,802.51 while the S&P 500 index rose 17.74 points to 1,330.36.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Apple Inc. (NASDAQ: AAPL, Stock Forum)
Apple Inc. announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter's revenue.
Pacific Rim Mining Corp. (TSX: T.PMU, Stock Forum)
Pacific Rim Mining Corp. announced that its non-brokered private placement financing, announced on April 7, 2011, has been over-subscribed and will therefore be increased from 16.7 million Units to an aggregate of up to 17.6 million Units. All other terms of the financing remain unchanged. Units are priced at CDN $0.21 per Unit and the increased offering is expected to result in gross proceeds of up to CDN $3.65 million. The proceeds of the financing will be used for exploration work, legal expenditures, and for general corporate purposes.