Today on Stockhouse
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Nick Barisheff argues whether or not gold is bad investment.
And, Jeff Berwick writes about a return to a silver Mexican Peso.
Top Bullboards post: “When are people going to realize that with central banks printing and printing that gold will continue to stay strong. There are very few large deposits left in the world and having met the management and speaking with analyst I would be surprised if Sandspring is around a year from now. The majors will eventually have to spend their cash to replace ounces. With the land package Sandspring has I don't even think they have even scratched to surface as to what they may have. They are already at 8 million ounces and just brought on a world class geologist team. They seem to be finding a lot of copper as well which really helps the economics. Maybe an IOCG on the property??? I guess time will tell, but I would be buying shares in Sandspring. Majors are stock piling money so we will see where they go with it, but I know there isn't a lot of 10+ million ounce deposits left on the planet.” From tsxtrader on the Sandspring Resources (TSX: V.SSP, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog: littleguy123 believes investors should look for an early ‘fall rally’ in precious metals 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
"The market is in a bit of a tug-of-war," said Mark Luschini, chief investment strategist at Janney Montgomery Scott, in an interview with CNNMoney. "The weak economic data is accumulating, and investors are spooked that the economy may be losing momentum, which could crimp future corporate profits and nobody knows what the loss of the Fed's stimulus in June will mean."
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| America's Car-Mart (NASDAQ: CRMT) |
Q4 |
$0.68 vs. $0.62 |
|
| Fred's (NASDAQ: FRED) |
Q1 |
$0.24 vs. $0.21 |
|
| HJ Heinz Co. (NYSE: HNZ) |
Q4 |
$0.72 vs. $0.60 |
|
| Magma Design Automation (NASDAQ: LAVA) |
Q4 |
$0.08 vs. $0.06 |
|
| Tiffany & Co. (NYSE: TIF) |
Q1 |
$0.57 vs. $0.48 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| CIBC (TSX: T.CM) |
Q2 |
$1.80 vs. $1.46 |
|
| National Bank of Canada ( TSX: T.NA) |
Q2 |
$1.68 vs. $1.50 |
|
| Toronto-Dominion Bank (TSX: T.TD) |
Q2 |
$1.60 vs. $1.36 |
|
Today In The Markets
TSX surges 156 points, amid rising oil prices, solid earnings from BMO
|
| DJIA |
12,394.66 |
+38.45 |
 |
|
| NASDAQ |
2,761.38 |
+15.22 |
|
|
| S&P500 |
1,320.47 |
+4.19 |
|
|
| S&P/TSX |
13,751.47 |
+156.35 |
|
|
| S&P/TSX Venture |
2,049.01 |
+21.94 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market jumped more than 150 points Wednesday as signs of greater U.S. demand lifted oil prices and energy stocks while Bank of Montreal delivered a solid earnings report.
The S&P /TSX composite index jumped 156.35 points to 13,751.47 while the TSX Venture Exchange gained 21.94 points to 2,049.01.
New York markets were higher even as traders worried about a slowing of the global economy also took in some dismal American data. U.S. durable goods orders dropped 3.6 per cent in April, worse than the 2.4 per cent drop that analysts had expected.
Higher energy stocks also helped take the Dow Jones industrial average up 38.45 points to 12,394.66.
The Nasdaq composite index rose 15.22 points to 2,761.38 while the S&P 500 index was up 4.19 points to 1,320.47.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
CSC (NYSE: CSC, Stock Forum)
CSC reported preliminary fourth quarter fiscal 2011 revenue of $4.20 billion and fully diluted earnings per share (EPS including discontinued operations) of $1.09 compared to fourth quarter fiscal 2010 revenue of $4.20 billion and EPS of $1.66.
Dundee Corp. (TSX: T.DC.A, Stock Forum)
Dundee Corp. announced today that, pursuant to a private purchase agreement, Dundee has acquired 706,836 units and 176,709 series B warrants of CMP Gold Trust representing an 8.25% interest in CMP Gold on an undiluted basis or a 10.10% interest in CMP Gold on a partially diluted basis. Each series B warrant is exercisable into one unit at $15.00 and expires January 25, 2013. In addition, Dundee and a wholly-owned subsidiary own 1,037,838 units and 342,209 series B warrants of CMP Gold. In aggregate these holdings represent a 20.36% interest in CMP Gold on an undiluted basis or a 24.91% interest in CMP Gold assuming the conversion of all warrants held by Dundee and its wholly-owned subsidiary.