Today on Stockhouse
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Frank Holmes of U.S. Global Investors explains the enduring popularity of gold.
Top Bullboards post: “The Railroad District is large, so you need to go a ways to find the neighbors. They're looking for the feeder zone of the 18.3 meters of 7.03g/T. Happy hunting Dave. Goldstrike's 'sleeper vein' up to the NW of GV was renowned for its 8 oz per ton au. Now there's a benchmark.” From ctoivo on the Gold Standard Ventures (TSX: V.GV, Stock Forum) board.
Top Bullboard: Orbite Aluminae (TSX: T.ORT, Stock Forum) received the second-most reads and posts.
Top blog:caliche believes this gold junior is the way to go in the Pennies To Dollars 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
"The market has done well in the face of some pretty low expectations," said Todd Salamone of Schaeffer's Investment Research, in an interview with Associated Press. "Right now we're just seeing a few speed bumps."
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| 51job, Inc. (NASDAQ: JOBS) |
Q4 |
$0.53 vs. $0.35 |
|
| American International Group (NYSE: AIG) |
Q4 |
$0.61 vs. $ - 16.20 |
|
| Coeur d'Alene Mines (NYSE: CDE) |
Q4 |
$0.40 vs. $0.56 |
|
| Molycorp (NYSE: MCP) |
Q4 |
$0.41 vs. $ - 0.06 |
|
| Public Storage (NYSE: PSA) |
Q4 |
$1.59 vs. $1.34 |
|
| Toro Company (NYSE: TTC) |
Q1 |
$0.60 vs. $0.53 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| IAMGOLD (TSX: T.IMG) |
Q4 |
$0.33 vs. $0.39 |
|
| Osisko Mining (TSX: T.OSK) |
Q4 |
$0.08 vs. $0.00 |
|
| Tim Hortons ( TSX: T.THI) |
Q4 |
$0.62 vs. $0.51 |
|
|
Today In The Markets
TSX closes higher despite negative Chinese/European economic data
|
| DJIA |
12,938.67 |
-27.02 |
 |
|
| NASDAQ |
2,933.17 |
-15.40 |
|
|
| S&P500 |
1,357.66 |
-4.55 |
|
|
| S&P/TSX |
12,701.26 |
+77.90 |
 |
|
| S&P/TSX Venture |
1,684.95 |
+6.32 |
 |
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed at its highest level in almost six months Wednesday as commodity stocks ran ahead despite weak European and Chinese economic data.
Gains in energy and mining stocks helped take the S&P/TSX composite index up 77.9 points to 12,701.26 its highest close since early September, 2011, while the TSX Venture Exchange gained 6.32 points to 1,684.95.
New York's Dow Jones industrials closed down 27.02 points to 12,938.67. The Nasdaq composite index dropped 15.4 points to 2,933.17 while the S&P 500 index was 4.55 points lower to 1,357.66.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Hewlett-Packard Inc. (NYSE: HPQ, Stock Forum)
Hewlett-Packard Inc. announced financial results for its first fiscal quarter ended January 31, 2012. For the quarter, net revenue of $30.0 billion was down 7% from the prior-year period, and down 8% when adjusted for the effects of currency. GAAP diluted earnings per share (EPS) was $0.73, down 38% from the prior-year period. Non-GAAP diluted EPS was $0.92, down 32% from the prior-year period. First quarter non-GAAP earnings information excludes after-tax costs of $364 million, or $0.19 per diluted share, related to amortization of purchased intangible assets, restructuring charges and acquisition-related charges.
Yamana Gold Inc. (TSX: T.YRI, Stock Forum)
Yamana Gold Inc. announced its financial and operating results for the fourth quarter and full year 2011. Revenues of $569 million in the fourth quarter were 6% higher compared with $535 million in the same quarter of 2010 mainly due to higher realized prices for gold and silver and increased sales of copper pounds. Net earnings for the quarter were $90 million or $0.12 per share on a basic and diluted basis compared with net earnings of $126 million or basic and diluted earnings per share of $0.17 for the fourth quarter of 2010.
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