Today on Stockhouse
David Fessler takes a look at a long-term play on the LNG boom.
Jeb Handwerger notes that precious metals and miners are showing strength.
Jeff Berwick explains why the debt cut deal is just smoke and mirrors.
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Top Bullboards post: Brookemont Capital found gold nugget in their 4.5 km anomaly bordering Canaco Resources Inc. (TSX: V.CAN, Stock Forum) in Tanzania, looks like something’s up today……..Upsidedown111 in the Brookemont Capital Inc. (TSX: V.BKT, Stock Forum) post.
Top Bullboard: Sino Forest Corp. (TSX: T.TRE, Stock Forum) received the most posts and the second highest number of reads.
Top blog: Mr. Spec notes in the day trade or buy and hold blog that “a few junior golds are undervalued.” Goldex Resources Corp. (TSX: V.GDX, Stock Forum) is awaiting drill results from great targets near Goldcorp. Inc. (TSX: T.G, Stock Forum) and (NYSE: GG, Stock Forum) and Hudson River Minerals Ltd. (TSX: V.HRM, Stock Forum) is drilling a high grade target. Insiders ownership is high. Platinex Inc. (TSX: V.PTX, Stock Forum) high grade samples with a resource of about 250,000 oz of gold value at 5000 an oz is 0.25 a share. Insider ownership is high. All three should have a great month.
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 is more downside potential, but we have all-time high earnings, and stocks look cheap versus bonds,” said Stuart Freeman, chief equity strategist at Wells Fargo Advisors during an interview with MarketWatch.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Allied Nevada Gold Corp. (NYSE: ANV) |
Q2 |
$0.08 vs $0.18 |
|
| Allos Therapeutics Inc. (NASDAQ: ALTH) |
Q2 |
-$0.14 vs -$0.19 |
|
| Apache Corp. (NYSE: APA) |
Q2 |
$3.09 vs $2.44 |
|
| CenterPoint Energy Inc. (NYSE: CNP) |
Q2 |
$0.23 vs $0.20 |
|
| Fluor Corp. (NYSE: FLR) |
Q2 |
$0.81 vs $0.87 |
|
| General Motors Co. (NYSE: GM) |
Q2 |
$1.20 vs N/A |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Alamos Gold Inc. (TSX: T.AGI) |
Q2 |
$0.18 vs $0.15 |
|
| BCE Inc. ( TSX: T.BCE) |
Q2 |
$0.82 vs $0.77 |
|
| Cameco Corp. (TSX: T.COO) |
Q2 |
$0.19 vs $0.29 |
|
| Canadian Natural Resources Ltd. (TSX: T.CNQ) |
Q2 |
$0.45 vs $0.63 |
|
| Great-West Lifeco Inc. (TSX: T.GWO) |
Q2 |
$0.49 vs $0.46 |
|
Today In The Markets
Gold stocks, RIM product rollout helps take TSX higher; oil down for 4th day
|
| DJIA |
11,896.44 |
+29.82 |
 |
|
| NASDAQ |
2,693.07 |
+23.83 |
|
|
| S&P500 |
1,260.34 |
+6.29 |
|
|
| S&P/TSX |
12,816.03 |
+63.71 |
|
|
| S&P/TSX Venture |
1,965.72 |
-13.13 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto stock market overcame steep losses to close higher Wednesday, supported in part by gold stocks as nervous investors pushed bullion to new highs while another raft of economic cast more doubt on the state of the U.S. economy.
The S&P/TSX composite index finished the session well off early lows, up 63.71 at 12,816.03 after earlier plunging as many as 184 points. The TSX Venture Exchange dropped 13.14 points to 1,965.72.
New York markets were also off early, sharp lows with the Dow Jones industrial average up 29.82 points to 11,896.44.
The Nasdaq composite index gained 23.83 points to 2,693.07 while the S&P 500 was up 6.29 points at 1,260.34.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Tesla Motors, Inc.(NASDAQ: TSLA, Stock Forum)
Tesla Motors, Inc. released its financial results for the quarter ended June 30, 2011. The Palo Alto, Ca., company said total revenue in the second quarter was $58 million, more than double the year ago revenue of $28.4 million and the highest quarterly revenue in its history. Tesla posted a net loss of $58.9 million in the quarter, or 60 cents per share, compared to a year earlier loss of $38.5 million or $5.04 a share.
Huntington Exploration Inc. (TSX: V.HEI, Stock Forum)
Huntington Exploration Inc. said C. Alan Smith has retired as Chief Executive Officer of HEI and did not stand for re-election as a director at the company's annual general and special shareholders meeting held on July 28, 2011. The company wishes to thank Mr. Smith for his dedication and service to HEI. The board of directors of HEI is undertaking an executive search process to replace Mr. Smith. The company also announced that Mark Hadley has been appointed as the company's vice-president, exploration. Mr Hadley brings more than 25 years of experience in the oil and gas business to HEI, having worked numerous basins and play types within North America.