Today on Stockhouse
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Peter Kennedy reports on why profits remain elusive at a B.C. tech firm in his Stockhouse Short Report.
Top Bullboards post: “For the past 3 years, La Mancha has met or exceeded expectations despite a challenging environment for many junior mining companies. Production growth has been steady and cash costs have been stable relative to the over industry. LMA was once considered a high cash cost company, but now finds itself around the industry average since the peer group is succumbing to inflation costs. Management has done an exceptional job at delivering on their company guidance. In my opinion, the best example of proving this was when the Ity mine was shut down last year due to civil unrest in Cote d'Ivoire and despite that event, the company was still able to meet its production target with flat cash costs. To top it all off, there has been absolutely no external share dilution…” From DetVicMackey on the La Mancha Resources (TSX: T.LMA, Stock Forum) board.
Top Bullboard: CardioComm Solutions(TSX: V.EKG, Stock Forum) received the third-most reads and posts.
Top blog:balraj_rakhra believes this uranium junior is one of the best and cheapest ways to play the Athabasca Basin in the Investment Ideas blog.
For news about small stocks that made big moves Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Right now there's a question of what other bazookas the bulls have to keep driving gains, and there doesn't seem to be many," said Roger Volz, director of cash equities at BGC Financial, in an interview with Reuters. "In addition, there are big concerns about what impact rising crude prices could have on the consumer, as well as recession fears in Europe. That could take us lower."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| American Water Works (NYSE: AWK) |
Q4 |
$0.32 vs. $0.23 |
|
| Interpublic Group of Companies (NYSE: IPG) |
Q4 |
$0.39 vs. $0.36 |
|
| J.C. Penney Company (NYSE: JCP) |
Q4 |
$0.68 vs. $1.09 |
|
| Newmont Mining (NYSE: NEM) |
Q4 |
$1.27 vs. $1.16 |
|
| Portland General Electric (NYSE: POR) |
Q4 |
$0.44 vs. $0.34 |
|
| Tree.com (NASDAQ: TREE) |
Q4 |
$0.20 vs. $ - 0.14 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Eldorado Gold (TSX: T.ELD) |
Q4 |
$0.18 vs. $0.08 |
|
|
Today In The Markets
Toronto stock market slightly higher amid mixed earnings, positive economic news
|
| DJIA |
12,984.69 |
+46.02 |
 |
|
| NASDAQ |
2,956.98 |
+23.81 |
|
|
| S&P500 |
1,363.46 |
+5.80 |
|
|
| S&P/TSX |
12,731.28 |
+30.02 |
 |
|
| S&P/TSX Venture |
1,694.13 |
+9.18 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher Thursday amid a mixed bag of earnings reports and positive economic data.
The S&P/TSX composite index rose 30.03 points to 12,731.28 led by the energy sector as oil closed at its highest level since last May, while the TSX Venture Exchange was ahead 9.18 points to 1,694.13.
U.S. markets were higher as data showed that the American job market is improving and house prices are rising.
The number of people seeking unemployment insurance was unchanged last week at 351,000. The four-week average, which smooths week-to-week fluctuations, dropped for the sixth straight week to 359,000, the lowest since March 2008.
The Dow industrials was up 46.02 points at 12,984.69.
The Nasdaq gained 23.81 points to 2,956.98 and the S&P 500 index was up 5.8 points at 1,363.46.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Salesforce.com (NYSE: CRM, Stock Forum)
Salesforce.com, the enterprise cloud computing company, announced results for its fiscal fourth quarter and full fiscal year ended January 31, 2012. Revenue in the quarter was $632 million, up 38% from $456.9 million a year ago. The company posted a net loss in the quarter of $4 million or $0.03 per share, compared to a profit of $10.9 million or $0.08 a year ago.
Sirona Biochem Corp. (TSX: V.SBM, Stock Forum)
Sirona Biochem Corp. announced its lead compound for the treatment of Type 2 diabetes was effective in lowering blood glucose levels in a well-established preclinical diabetic model. Sirona Biochem's compound, SBM-TFC-039, significantly and rapidly reduced the blood glucose level in obese diabetic rats (Zucker). In an acute dosing study, six hours after treatment, the blood glucose level of obese diabetic rats was reduced to the level of control lean rats. There was a strong correlation between the decrease in blood glucose level (0 to 6 hours post
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