Today on Stockhouse
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Cory Mitchell explains why he believes retail investors should think about shorting an "up" ETF.
Top Bullboards post: “Nice to see some volume coming in today as well! 182 m @ 1.11 g/t au looks like the 2nd best drill result on the property to date not including the historical hole behind our best hole of 229 m @ 0.9~+ g/t au. Other holes are what's expected but completely agree with Oscar, a competent geological firm on site is the best part of this news release. Now we can actually look forward to meeting deadlines and gaining the market's trust back in here.” From taylor1988 on the Gold Bullion Development (TSX: V.GBB , Stock Forum) board.
Top Bullboard: Allana Potash (TSX: T.AAA, Stock Forum) gathered the most posts and second-most reads.
Top blog: GermanInvestors presents what the blogger considers to be six best yielding machine tools and accessories stocks in the Dividend Yield List blog.
For news about small stocks that made big moves Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“This is still a headline-driven market and when confidence is shook, borrowers will continue to sit on the sidelines,” said Kevin Brungardt, chairman of RoundPoint Financial Group, in an interview with CNBC.com. “Europe is driving this market and if they are unable to contain the contagion, then that hampers our ability to diminish the unemployment rate and diminish our ability to grow.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Analogic Corporation (NASDAQ: ALOG) |
Q1 |
$0.43 vs. $0.20 |
|
| Costco Wholesale (NASDAQ: COST) |
Q1 |
$0.80 vs. $0.71 |
|
| Flow International (NASDAQ: FLOW) |
Q2 |
$0.01 vs. $0.00 |
|
| Layne Christensen Co. (NASDAQ: LAYN) |
Q3 |
$0.49 vs. $0.42 |
|
| Met-Pro (NYSE: MPR) |
Q3 |
$0.15 vs. $0.10 |
|
| SeaChange International (NASDAQ: SEAC) |
Q3 |
$0.13 vs. $0.05 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| ADF Group (TSX: T.DRX) |
Q3 |
$0.03 vs. $0.02 |
|
| Harry Winston Diamond ( TSX: T.HW) |
Q3 |
$0.05 vs. $0.05 |
|
| National Bank of Canada (TSX: T.NA) |
Q4 |
$1.65 vs. $1.63 |
|
Today In The Markets
Toronto stock market higher amid uncertainty over chances of debt crisis fix
|
| DJIA |
12,196.37 |
+46.24 |
 |
|
| NASDAQ |
2,649.21 |
-0.35 |
 |
|
| S&P500 |
1,261.01 |
+2.54 |
|
|
| S&P/TSX |
12,148.73 |
+67.48 |
|
|
| S&P/TSX Venture |
1,539.21 |
-3.48 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher while traders weighed the outcome of a summit of European leaders amid differences of opinion about tackling the region's government debt crisis.
The S&P/TSX composite index was up 67.48 points to 12,148.73, while the Canadian dollar lost 0.07 of a cent to 98.98 cents US.
U.S. markets also picked up momentum late in the session as the Dow Jones industrial average climbed 46.24 points to 12,196.37.
The Nasdaq composite index dipped 0.35 of a point to 2,649.21 and the S&P 500 index rose 2.54 points to 1,261.01.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
G-III Apparel Group, Ltd. (NASDAQ: GIII, Stock Forum)
G-III Apparel Group, Ltd. announced operating results for the third quarter of fiscal 2012 that ended October 31, 2011. The company reported that, for the three months ended October 31, 2011, net sales increased to $510.0 million from $450.0 million a year ago. Net income for the third quarter of fiscal 2012 grew to $43.6 million from $42.7 million in the prior year’s quarter. Net income per diluted share of $2.16 for the third quarter of fiscal 2012 was the same as in the year-ago quarter.
Teranga Gold Corp. (TSX: T.TGZ, Stock Forum)
Teranga Gold Corp. reported that due to delayed access to high grade zones, production for the quarter ended December will be impacted. As a result, the Company expects production to be between 130,000 and 135,000 ounces of gold and total cash costs of $875 - $925 per ounce compared to previous guidance of $850-$875 per ounce for CY2011. Teranga was created to acquire the Sabodala gold mine and a large regional exploration land package, located in Senegal, West Africa. The mine started production in 2009 and is located 650 kilometres east of Dakar.