Today on Stockhouse
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Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report
Jeb Handwerger explains why he thinks China's rare earth exports matter.
Top Bullboards post: “Because the earnings release is coming out soon, there is a black-out period for insider share sales. The trick is to watch the news overnight - Hong Kong is 12 hours ahead. Anybody expecting news today from the company didn't get it right because they would be sleeping over there. Expect little news during our business hours... pay attention to HK business hours. If nothing happens tonight and early tomorrow morning then something really strange indeed is playing out. One way this situation can be easily rectified in my mind is to request copies of the current insurance documents. The commercial insurance policies will show what is insured and replacement cost values for these assets. Sure, the numbers might be off but parcels of land, etc. will be consistent. If they are not insuring these items... well then we know we have a problem. This is one of the best forms of audit as I know, I do this for a living.” From bullgambla on the Sino-Forest (TSX: T.TRE, Stock Forum) board.
Top Bullboard:Sino-Forest (TSX: T.TRE, Stock Forum) received the most reads and the second-most posts on a day its stock dropped 34%.
Top blog: yukon_gold believes this energy junior is on the fast track to production in the Yukon Gold Blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"The market's reaction to the pessimist tone on economic data in the past few days was some heavy selling, but investors are starting to trim their short positions here as things start to stabilize," said Joseph Greco, managing director at Meridian Equity Partners, in an interview with Reuters.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| CIENA Corp. (NASDAQ: CIEN) |
Q2 |
$ - 0.10 vs. $ - 0.13 |
|
| Greif, Inc. (NYSE: GEF) |
Q2 |
$0.96 vs. $0.86 |
|
| Luby's Inc. (NYSE: LUB) |
Q3 |
$0.04 vs. $0.05 |
|
| Men's Wearhouse (NYSE: MW) |
Q1 |
$0.49 vs. $0.26 |
|
| Pall Corp. (NYSE: PLL) |
Q3 |
$0.71 vs. $0.58 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Harry Winston Diamond (TSX: T.HW) |
Q1 |
$0.08 vs. $ - 0.11 |
|
| Major Drilling Group ( TSX: T.MDI ) |
Q4 |
$0.22 vs. $0.04 |
|
| Westport Innovations (TSX: T.WPT) |
Q4 |
$ - 0.16 vs. $ - 0.32 |
|
Today In The Markets
Financials, mining stocks lead way to slight decline on TSX; oil edges higher
|
| DJIA |
12,070.81 |
-19.15 |
 |
|
| NASDAQ |
2,701.56 |
-1.00 |
|
|
| S&P500 |
1,284.94 |
-1.23 |
|
|
| S&P/TSX |
13,282.92 |
-35.74 |
|
|
| S&P/TSX Venture |
2,004.02 |
-10.53 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed lower Tuesday amid flat oil prices while markets failed to get lift from a late-afternoon speech by U.S. Federal Reserve chairman Ben Bernanke , even as he predicted better economic conditions later in the year.
The S&P /TSX composite index lost 35.74 points to 13,282.92 as traders made several tentative forays to buy up shares beaten down in the course of Monday's 199-point plunge, gaining as much as 73 points during the morning.
The TSX Venture Exchange slipped 10.54 points to 2,004.02.
New York markets were also lower with the Dow Jones industrial average down 19.15 points at 12,070.81.
The Nasdaq composite index slipped one point to 2,701.56 while the S&P 500 index was off 1.23 points to 1,284.94.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
AMD (NYSE: AMD, Stock Forum)
E3, AMD announced its support for Nintendo's newly-announced Wii U™ system, as a new way to enjoy HD console gaming entertainment. The custom AMD Radeon™ HD GPU reflects the best characteristics of AMD's graphics technology solutions: high-definition graphics support; rich multimedia acceleration and playback; and multiple display support. As an industry leader, AMD has supplied the game console market with graphics expertise and ongoing support for more than 10 years.
Dacha Strategic Metals Inc. (TSX: V.DSM, Stock Forum)
Dacha Strategic Metals Inc. announced that it has sold 30,000 kilograms of Yttrium Oxide from its domestic supply in Shanghai at an average price of 230 Rmb per kg (including VAT) for gross proceeds of 6,900,000 Rmb (approximately US$1.1 million). Based on the original purchase price of 58 Rmb per kg and a total gross purchase price of 1,740,000 Rmb, the Company realized a pre-tax gain of 5,160,000 million Rmb (approximately US$0.8 million).