Today on Stockhouse
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Peter Kennedy reports on why the U.S. should have invaded Canada in his Stockhouse Movers & Shakers column.
Top Bullboards post: “Based on the corporate presentation they still have 20 million in the bank. The burn rate is around 2 million a month so there's no immediate urgency. 5 or 6 months from now you're right though, we're in a bit of a tight situation. By then we'll have a new resource estimate, a new PEA, the environmental permit and if we're lucky some drill targets at Manx etc. There's also the possibility GUY will get bought out or will find a partner which should give us a lot of attention and in and around 6 months from now we should be preparing for the feasibility study. If those aren't enough to get the share price moving I really don't know what is...” From andrewsuds on the Sandspring Resources (TSX: V.SSP, Stock Forum) board.
Top Bullboard: Rye Patch Gold Corp. (TSX: V.RPM, Stock Forum) received the most reads and posts on a day its stock popped more than 19%.
Top blog:littleguy123 offers up his opinion on how the bankers drive up bullion prices in the Outside the Market 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
"You take housing data and add Oracle's earnings miss to it, and it's all sobering," said Sal Arnuk, head of trading at Themis Trading, in an interview with CNNMoney.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| American Greetings (NYSE: AM) |
Q3 |
$0.81 vs. $0.78 |
|
| CalAmp Corp. (NASDAQ: CAMP) |
Q3 |
$0.03 vs. $ - 0.01 |
|
| Neogen (NASDAQ: NEOG) |
Q2 |
$0.27 vs. $0.26 |
|
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Today In The Markets
Toronto stock market turns around earlier losses to close higher
|
| DJIA |
12,107.74 |
+4.16 |
 |
|
| NASDAQ |
2,577.97 |
-25.76 |
 |
|
| S&P500 |
1,243.72 |
+2.42 |
|
|
| S&P/TSX |
11,753.53 |
+36.65 |
|
|
| S&P/TSX Venture |
1,439.75 |
-0.54 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher Wednesday after bouncing between red and black all day as investors seemed puzzled over mixed signals about the U.S. and European economies.
The S&P/TSX composite index moved 36.65 points higher to 11,753.53. The TSX Venture Exchange lost 0.55 points to 1,439.75.
Wall Street also recovered just before the close with the Dow Jones index adding 4.16 points to 12,107.74. The broader S&P index moved 4.12 points higher to 1,243.72.
The Nasdaq index pared earlier losses but closed down 25.76 points to 2,577.97, weighed by technology stocks a day after business software company Oracle said it was struggling to close deals. The results seemed to reinforce worries that businesses and the government may cut technology spending.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Bed Bath & Beyond Inc. (NASDAQ: BBBY, Stock Forum)
Bed Bath & Beyond Inc. reported net earnings of $.95 per diluted share ($228.5 million) in the fiscal third quarter ended November 26, 2011, an increase of approximately 28% versus net earnings of $.74 per diluted share ($188.6 million) in the same quarter a year ago. Net sales for the fiscal third quarter of 2011 were approximately $2.344 billion, an increase of approximately 6.8% from net sales of approximately $2.194 billion reported in the fiscal third quarter of 2010. Comparable store sales in the fiscal third quarter of 2011 increased by approximately 4.1%, compared with an increase of approximately 7.0% in last year's fiscal third quarter.
Dundee Corporation (TSX: DC.A, Stock Forum)
Dundee Corporation and Dundee Capital Markets Inc. (TSX: T.DCM, Stock Forum) jointly announced today that they have entered into an arrangement agreement under which DC will acquire all of the outstanding common shares of DCM not currently held by DC at a price of $1.125 per share by way of a court approved plan of arrangement under the Business Corporations Act (Ontario). The price to be received by DCM common shareholders represents a premium of 40.6% over the closing price of DCM common shares on December 20, 2011.
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