Today on Stockhouse
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Martin Hutchinson explains why high oil prices, even at $200 won’t cause a recession.
Jeff Clark looks at how investors in emerging-markets are doing. Not well, it would seem.
Carl Delfeld outlines the smart way to invest in Asian frontier markets.
Top Bullboards post:
“There is nothing negative Argentina miner related out there so I am confused as to why we would question the country's policies when our investment capital is there? The oil and gas issues relating to a ten year freeze on oil prices is Argentinian news ,but will not relate to MFM and/or any miners unless there is oil and gas increase of costs in their future project(s) development.
All miners that rely on diesel generation for project development face that predicament,across the globe. That issue is not Argentinian specific.It is global.” From Mattbigham in the Marifil Mines Ltd. (TSX: V.MFM, Stock Forum ) post.
Top Bullboard:
Intertainment Media Inc. (TSX: V.INT, Stock Forum) earned the largest number of reads and posts on a day when its stock rose 4.2% to $2.19.
Top blog:
Moody's appears ready to possibly
downgrade Italian banks next week which could give another hard blow to the global markets. “Something to keep a close eye on as we exit the eye of the storm with massive volatility,” said
Coffintrader in the
WallStreet Investing blog.
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“Earnings are going to be better and maybe the Fed is not done yet. I would look at lowered expectations being very easy hurdles to clear for many companies,” said Nick Raich, director of research with Key Private Bank, during an interview with MarketWatch.
“It’s like if I go to a movie, and people say how great it is, I’m always disappointed. But, if people say it stunk, I’m pleasantly surprised. So the first quarter is like a crappy movie,” Raich added.
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Chimera Investment Corp. (NYSE: CIM) |
Q1 |
$0.10 vs $0.14 |
|
| iGate Corp. (NASDAQ: IGTE) |
Q1 |
$0.32 vs $0.23 |
|
| JP Morgan Chase & Co. (NYSE: JPM) |
Q1 |
$1.12 vs $1.28 |
|
| Ventrus Biosciences Inc. (NASDAQ: VTUS) |
Q4 |
-$0.53 vs -$0.38 |
|
| Wells Fargo & Co. (NYSE: WFC) |
Q1 |
$0.73 vs $0.67 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Opmedic Group Inc. (TSX: T.OMG) |
Q1 |
$0.06 vs $0.06 |
|
| Theratechnologies Inc. ( TSX: T.TH) |
Q1 |
-$0.08 vs -$0.10 |
|
Today In The Markets
TSX registers second day of gains; earnings hopes trump soft economic data
|
| DJIA |
12,986.58 |
+181.19 |
 |
|
| NASDAQ |
3,055.55 |
+39.09 |
|
|
| S&P500 |
1,387.57 |
+18.86 |
|
|
| S&P/TSX |
12,214.65 |
+187.89 |
|
|
| S&P/TSX Venture |
1,472.50 |
+37.38 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market surged more than 150 points Thursday afternoon as traders shrugged off some glum economic data.
Instead, investors concentrated on a surprisingly strong start to the corporate earnings season and a positive assessment of the economy from the U.S. Federal Reserve.
The S&P/TSX composite index chalked up a solid gain for a second session, ahead 159.18 points to 12,185.94 and the TSX Venture Exchange climbed 36.25 points to 1,471.38.
U.S. markets were higher despite a report from the U.S. Labour Department that said weekly unemployment benefit applications jumped 13,000 to a seasonally adjusted 380,000, the highest level in two months.
The Dow Jones industrials rose 160.79 points to 12,966.18.
The Nasdaq composite index gained 31.21 points to 3,047.67 and the S&P 500 index gained 15.61 points to 1,384.32.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Google Inc. (NASDAQ: GOOG, Stock Forum)
Google Inc. announced financial results for the quarter ended March 31, 2012. Google reported revenues of $10.65 billion for the quarter, an increase of 24% from $8.58 billion in the first quarter of 2011. GAAP earnings per share in the first quarter of 2012 was $8.75 on 330 million diluted shares outstanding, compared to $5.51 a year earlier on 326 million diluted shares outstanding. GAAP net income in the quarter was $2.89 billion, compared to $1.80 billion in the equivalent 2011 period.
Victory Nickel Inc. (TSX: T.NI, Stock Forum)
Victory Nickel Inc. announced that drilling is nearing completion on Mining Lease ML-003, approximately five kilometres south of its 100%-owned Minago sulphide nickel project in Manitoba. The company has been progressively testing nickel bearing rock around the Minago Property beyond the immediate Minago Deposit for several years; with the work now being conducted on ML-003 nickel bearing rock will have been drill tested over a 10 kilometre north-south interval between ML-003 in the south and the most northern intercepts. The widespread nature of nickel mineralization at Minago serves to provide further evidence of the exceptional exploration target at Minago indicating a potentially long production life.