Today on Stockhouse
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Jason Simpkins argues that this publicly-traded company will provide high octane profits from high gas prices.
Top Bullboards post: “Muguk will continue to be under-valued given all the focus on Sangdong, which means Muguk is a bit of a distraction and should be spun-off. After knee jerk reactions to the Muguk news, that distraction will yet again die down and the BFS on Sangdong will carry the day. That is not to say Muguk is not a potentially profitable venture-it is just that it is distracting given the elephant in the room (Sangdong).” From mercurysmith on the Woulfe Mining (TSX: V.WOF, Stock Forum) board.
Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog:Canucklehead80 believes this gold junior has cash-cow potential in the Where the High Grade Is 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
“Now we have a tech-led rally with Apple taking the lead,” said David Pankiw, partner at Cubic Financial Advisors, in an interview with MarketWatch. “With only a few areas providing strength, the overall markets have lost some momentum.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Abraxas Petroleum (NASDAQ: AXAS) |
Q4 |
$0.05 vs. $ - 0.02 |
|
| Cato Corporation (NASDAQ: CATO) |
Q4 |
$0.32 vs. $0.23 |
|
| Harvest Natural Resources (NYSE: HNR) |
Q4 |
$0.25 vs. $0.05 |
|
| Perfect World Co. (NASDAQ: PWRD) |
Q4 |
$3.40 vs. $0.36 |
|
| Ross Stores (NASDAQ: ROST) |
Q4 |
$0.85 vs. $0.69 |
|
| Winnebago Industries (NYSE: WGO) |
Q2 |
$0.02 vs. $0.11 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Athabasca Oil Sands (TSX: T.ATH) |
Q4 |
$ - 0.03 vs. $0.02 |
|
| Aurizon Mines (TSX: T.ARZ) |
Q4 |
$0.13 vs. $0.04 |
|
| Orvana Minerals ( TSX: T.ORV) |
Q1 |
$0.07 vs. $ - 0.02 |
|
|
Today In The Markets
TSX tumbles amid lower commodity prices, positive news on U.S. banks
|
| DJIA |
13,194.10 |
+16.42 |
 |
|
| NASDAQ |
3,040.73 |
+0.85 |
|
|
| S&P500 |
1,394.28 |
-1.67 |
 |
|
| S&P/TSX |
12,377.90 |
-159.79 |
|
|
| S&P/TSX Venture |
1,594.35 |
-33.02 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed sharply lower Wednesday despite good news from the American financial sector as falling commodities took a big bite out of resource stocks.
The S&P/TSX composite index dropped 159.8 points to 12,377.9, led by sliding gold stocks as improving sentiment about the U.S. economy and a higher U.S. dollar continued to punish gold prices. The April bullion contract in New York tumbled $51.30 to US$1,642.10 an ounce. The TSX Venture Exchange was down 33.03 points to 1,594.35.
The Dow Jones industrials moved up 16.42 points to 13,194.1. The Nasdaq added 0.85 of a point to 3,040.73 while the S&P 500 index edged 1.67 points lower to 1,394.28.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Guess Inc. (NYSE: GES, Stock Forum)
Shares of the clothing and accessories retailer fell 11% in after-hours trading Wednesday after the company forecast first-quarter consolidated net revenue of $560 million to $575 million and per-share earnings of 25 cents to 28 cents. Analysts expected 48 cents a share in earnings on $609.7 million in sales.
Newstrike Capital (TSX: V.NES, Stock Forum)
The gold junior, after Wednesday’s closing bell, reported results of the first series of holes completed in the 2012 drill program at its 100%-owned Ana Paula Project in Mexico, which included 173.5 meters of 3.07 g/t gold and a 46.40 meter interval of 7.08 g/t gold.
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