Today on Stockhouse
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Peter Krauth of Money Morning debates whether gold will be Paulson's next "Greatest Trade Ever?"
Top Bullboards post: “Could La Ronge Gold Corp., be Canada's next Goldcorp? It all depends on how successful the exploration program is in terms of defining strike length, depth and continuity of the open pitable zone at Preview. However this is only one component of the overall portfolio, and it's Preview that's exciting the market today and will be the near term focus for development. I expect that the company will also do some work on the T-6 Zone where the results reported were 14.23 grams per tonne over 26.6 metres. The trend in that particular part of LAR's claims covers a large area and needs to be drilled to understand the nature of the geology. Maybe this is just a taste or "preview" of better things to come, so hold onto your shares, and study the LAR website to gain greater insight and stock appreciation of LAR. There is just no telling how great the potential is here, and how many ounces La Ronge could be sitting on. I do believe that Preview will become an open pit mine, and the operating cost per ounce will be quite economical given the grades reported in today's news release.” From CentaurusA on the La Ronge Gold (TSX: V.LAR, Stock Forum) board.
Top Bullboard: Ithaca Energy (TSX: T.IAE, Stock Forum) received the second-most reads and posts on a day its share price rose more than 10%.
Top blog:LexLuthor2 believes opportunity knocks with these stocks in the Lex Corp News Letter 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
"We are trying to claw back a little bit of yesterday's loss - interestingly enough, it seems 13,000 on the Dow seems to be an inflection point," said Gordon Charlop, managing director at Rosenblatt Securities, in an interview with Reuters. "We may be getting to a spot, based on current economic conditions, where we could be pretty close to fairly priced so the question will be, 'What will be the stimulus to continue to see the stock market gain?'"
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Big Lots (NYSE: BIG) |
Q4 |
$1.73 vs. $1.46 |
|
| Genesco (NYSE: GCO) |
Q4 |
$1.67 vs. $1.33 |
|
| Overstock.com (NASDAQ: OSTK) |
Q4 |
$0.45 vs. $0.63 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| New Gold (TSX: T.NGD) |
Q4 |
$0.10 vs. $0.09 |
|
| TransAlta Corporation (TSX: T.TA) |
Q4 |
$0.22 vs. $0.40 |
|
Today In The Markets
Solid bank earnings, higher commodities support Toronto stock market
|
| DJIA |
12,980.30 |
+28.23 |
 |
|
| NASDAQ |
2,988.97 |
+22.08 |
|
|
| S&P500 |
1,374.09 |
+8.41 |
|
|
| S&P/TSX |
12,723.46 |
+79.45 |
|
|
| S&P/TSX Venture |
1,688.43 |
+16.90 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market registered a solid advance Thursday as the financial sector ran ahead amid strong financial results and dividend hikes from two of the big banks.
The TSX was also lifted by commodity stocks as positive economic data lifted prices for oil and metals.
The S&P/TSX composite index was ahead 79.45 points to 12,723.46 and the TSX Venture Exchange was up 16.90 points to 1,688.43.
New York's Dow Jones industrial average finished the session well off session highs amid a late day spike in oil prices past US$110 a barrel amid a report of pipeline fire in Saudi Arabia. Saudi officials later denied those reports.
The blue chip index gained 28.23 points to 12,980.3.
The Nasdaq composite index rose 22.08 points to 2,988.97 and the S&P 500 index advanced 8.41 points to 1,374.09.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Foot Locker, Inc. (NYSE: FL, Stock Forum)
Foot Locker, Inc., the New York-based specialty athletic retailer, reported financial results for its third quarter ended October 29, 2011. Net income for the Company’s third quarter ended October 29, 2011 was $66 million, or $0.43 per share, compared with net income of $52 million, or $0.33 per share, last year. Third quarter sales increased 8.9 percent, to $1,394 million this year, compared with sales of $1,280 million for the corresponding prior-year period.
High River Gold Mines Ltd. (TSX: V.AU, Stock Forum)
High River Gold Mines Ltd. announced that the Ontario Securities Commission has noted that the company is in default of its continuous disclosure obligations under Ontario securities law due to the company not having filed National Instrument 43-101 compliant technical reports to support the current mineral reserves and mineral resources at its Zun-Holba and Irokinda mines in the Lake Baikal region of Russia. The Company anticipates that a new technical report for each of the Zun-Holba and Irokinda mines will be completed by March 30, 2012 and the Company will be in a position to file such technical reports concurrently with its annual filings for the financial year ended December 31, 2011.