Today on Stockhouse
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Peter Kennedy reports on why Canaco is in a disclosure fight with B.C. regulators in his Stockhouse Short Report column.
Top Bullboards post: “Very good numbers indeed. I love the grade and the conservative cut-off used. Unlike TRR and BAT that used 0.25g cut-off nonsense. I think a resource of 5.5 is a reasonable estimate for their BFS. SP seems to be holding up well given the junior market carnage that's unfolding. That speaks volumes. Will buy weakness with both hands.” From auingot on the Belo Sun Mining (TSX: T.BSX, Stock Forum) board.
Top Bullboard: Baja Mining (TSX: T.BAJ, Stock Forum) received the third-most reads and posts.
Top blog: LexLuthor2 asserts that some gold stocks are reaching bargain levels in the Lex Corp News Letter blog.
For news about small stocks that made big moves Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Apple is the largest company in the world, so it is going to drag the market wherever it goes. The results there were great, but the number of Apple products sold doesn't give any indication into the fundamentals of the economy," said Phil Silverman, managing partner at Kingsview Capital, in an interview with Reuters.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Altria Group (NYSE: MO) |
Q1 |
$0.49 vs. $0.44 |
|
| Cash America International (NYSE: CSH) |
Q1 |
$1.19 vs. $1.13 |
|
| Coinstar (NASDAQ: CSTR) |
Q1 |
$1.34 vs. $0.46 |
|
| Exxon Mobil (NYSE: XOM) |
Q1 |
$2.09 vs. $2.14 |
|
| Federated Investors (NYSE: FII) |
Q1 |
$0.39 vs. $0.32 |
|
| Starbucks (NASDAQ: SBUX) |
Q2 |
$0.39 vs. $0.34 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Agnico-Eagle Mines (TSX: T.AEM) |
Q1 |
$0.46 vs. $0.45 |
|
| Inmet Mining ( TSX: T.G) |
Q1 |
$1.28 vs. $0.96 |
|
| Potash Corporation (TSX: T.LUN) |
Q1 |
$0.64 vs. $0.84 |
|
Today In The Markets
TSX closes higher on resource stocks while Wall Street eyes Apple profits
|
| DJIA |
13,090.72 |
+89.16 |
 |
|
| NASDAQ |
3,029.63 |
+68.03 |
|
|
| S&P500 |
1,390.69 |
+18.72 |
|
|
| S&P/TSX |
12,111.06 |
+130.96 |
|
|
| S&P/TSX Venture |
1,371.12 |
+5.35 |
|
|
TORONTO, NEW YORK (CP) - The Toronto stock market finished higher Wednesday as the resource sector led gains, while a muted reaction to the latest statement from the U.S. Federal Reserve gave way to a stronger focus on earnings, particularly from Apple Inc.
The S&P/TSX composite index moved ahead 130.96 points to 12,111.06, while the TSX Venture Exchange gained 5.35 points to 1,371.12.
The Dow Jones industrials rose 89.16 points to 13,090.72, the Nasdaq composite index was up 68.03 points to 3,029.63 and the S&P 500 index was 18.72 points higher at 1,390.69.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
H&R Block Inc. (NYSE: HRB, Stock Forum)
Shares of the tax services provider sank as much as 16% in Wednesday’s after-hours trading after the company said it expects to save up to $100 million by the end of fiscal 2013 through job cuts and closing underperforming offices.
Lundin Mining (TSX: T.LUN, Stock Forum)
The base metals miner, after Wednesday’s closing bell, reported first-quarter net income of $58.3 million, or 10 cents a share, compared with $71.2 million, or 12 cents a share, during the same period last year. Sales of $212.8 million were slightly higher than the $211.5 million in the comparable period in 2011, as average metal prices for copper, zinc and lead were 14%-20% lower than a year earlier.