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.
Thom Calandra describes how many a gold and silver stock is moved by GATA supporters.
This as James Turk of GoldMoney.com debates whether or the ECB is solvent or not
Top Bullboards post: “There are millions of ounces from Minto to Tyranite all the way to depth. Someone will scoop this up on the cheap. Creso should've done a lot more to support their SP. They needed to do more than just the deal. I guess they figured the guaranteed pp was enough money and some ink on pp would support their sp. Why would HDI get involved when they can buy the whole package for a lot less on the open market? And even much less if you just want control of the CXT.” From WesternRookie on the Creso Exploration (TSX: V.CXT, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog: LexLuthor2 explains why he is taking a small position in a vanadium junior making its debut on the TSX in the Lex Corp blog.
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"There's still a feeling out there that even though economic data has been incrementally terrible, businesses are still cooking," said Uri Landesdman, president of Platinum Partners, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Funtalk China Holdings (NASDAQ: FTLK) |
Q4 |
$0.21 vs. $0.27 |
|
Today In The Markets
TSX on correction ground over Greek default worries, softening U.S. economy
|
| DJIA |
11,961.52 |
+64.25 |
 |
|
| NASDAQ |
2,623.70 |
-7.76 |
 |
|
| S&P500 |
1,267.64 |
+2.22 |
|
|
| S&P/TSX |
12,853.13 |
-118.90 |
|
|
| S&P/TSX Venture |
1,889.35 |
-34.87 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market posted a solid loss Thursday that pushed the main index into correction territory amid rising fears that Greece will have to default on its debt.
The S&P/TSX composite index fell 118.9 points to 12,853.13 with worries of slowing American economic conditions also contributing to a 10.3 per cent slide from the market's recent high in early March.
The TSX Venture Exchange slipped 34.87 points to 1,889.35.
Unemployment benefit applications fell 16,000 to a seasonally adjusted 414,000, the second drop in three weeks.
The Dow Jones industrial average closed up 64.25 points to 11,961.52.
The Nasdaq composite index dropped 7.76 points to 2,623.7 while the S&P 500 index added 2.22 points to 1,267.65.
Please click here for the complete U.S. and Canadian market summaries.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Investment firm W. P. Carey & Co. LLC (NYSE: WPC, Stock Forum)
Investment firm W. P. Carey & Co. LLC announced that its board of directors has increased the company's quarterly cash distribution to $0.55 per share for the quarter ending June 30, 2011. Payable on July 15, 2011 to shareholders of record as of June 30, 2011, this marks the Company's 41st consecutive distribution increase and a 7% increase over the prior quarter.
Research In Motion Ltd. (TSX: T.RIM, Stock Forum)
Research In Motion Ltd., a world leader in the mobile communications market, reported first quarter results for the three months ended May 28, 2011 (all figures in U.S. dollars and U.S. GAAP). Revenue for the first quarter of fiscal 2012 was $4.9 billion, up 16% from $4.2 billion in the same quarter of last year. Net income for the quarter was $695 million, or $1.33 per share diluted, compared with net income of $769 million, or $1.38 per share diluted, in the same quarter last year.