Today on Stockhouse
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Frank Holmes of U.S. Global Investors explains why sell in May and go away might not work this year.
Top Bullboards post: “Graphite sector is definitely red hot right now ... News release comes at a great time…that’s for sure...I see warning flags…Would like to see BRU focused on just one property...company could be up against it trying to do all that exploration work with a limited budget...but it's certainly not impossible..Future dilution could be an issue, but grabbing some acreage of a graphite property at Bissett Creek is putting these guys into the game...once a drill program is announced, I may consider jumping in... this will be one to watch for future developments...” From mrcashflow on the Bolero Resources (TSX: V.BRU, Stock Forum) board.
Top Bullboard: Great Western Minerals Group (TSX: V.GWG, Stock Forum) received the second-most reads.
Top blog:fredski discusses the shale gas revolution in the Carpe Diem 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
“Today’s pullback was set up by Tuesday’s sharp advance, along with Wednesday ADP report, which came in “quite a bit lower than what was expected,” said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research, in an interview with MarketWatch. “Yesterday we had a huge upside surprise to the ISM (Institute for Supply Management) number, but as the day wore on, people starting thinking about what was coming versus what was happening.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| General Motors (NYSE: GM) |
Q1 |
$0.85 vs. $0.95 |
|
| Kodiak Oil & Gas (NYSE: KOG) |
Q1 |
$0.10 vs. $0.01 |
|
| Royal Gold (NASDAQ: RGLD) |
Q3 |
$0.45 vs. $0.35 |
|
| Tesco Corporation (NASDAQ: TESO) |
Q1 |
$0.24 vs. $0.13 |
|
| Western Refining (NYSE: WNR) |
Q1 |
$0.82 vs. $0.17 |
|
| ZAGG Inc. (NASDAQ: ZAGG) |
Q1 |
$0.14 vs. $0.13 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian Natural Resources (TSX: T.CNQ) |
Q1 |
$0.45 vs. $0.21 |
|
| Eldorado Gold ( TSX: T.ELD) |
Q1 |
$0.17 vs. $0.10 |
|
| Sandstorm Gold (TSX: V.SSL) |
Q1 |
$0.03 vs. $0.01 |
|
|
Today In The Markets
TSX slides amid deepening European economic slump, slowing U.S. job growth
|
| DJIA |
13,268.57 |
-10.75 |
 |
|
| NASDAQ |
3,059.85 |
+9.41 |
 |
|
| S&P500 |
1,402.31 |
-3.51 |
|
|
| S&P/TSX |
12,230.12 |
-102.67 |
|
|
| S&P/TSX Venture |
1,431.23 |
-0.45 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed sharply lower as a pair of reports cast doubt on the health of the economic recovery.
The S&P/TSX composite index fell 102.66 points to 12,230.12 and the Canadian dollar was down 0.07 of a cent to 101.37 cents US.
The New York indexes closed well off the worst levels of the session with the Dow Jones industrial average declining 10.75 points to 13,268.57.
The Nasdaq composite index was up 9.41 points to 3,059.85 and the S&P 500 index slipped 3.51 points to 1,402.31.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Green Mountain Coffee Roasters (NASDAQ: GMCR, Stock Forum)
Its shares plunged as much as 41% in Wednesday’s after-hours session after the company cut its fiscal 2012 outlook, following slowing sales of its K-Cup portion packs and Keurig coffee brewers during the recent quarter. Green Mountain also reported second-quarter sales that rose 37% to $885.1 million, although it was less than Wall Street’s forecast of $972 million.
Foran Mining (TSX: V.FOM, Stock Forum)
After Wednesday’s close, the junior miner reported the first assay results from a winter 2012 drill program at its 100%-owned McIlvenna Bay deposit in Saskatchewan, which included 7.30% zinc, 105.2 g/t silver, 0.96% copper, and 2.08 g/t gold over 6.96 metres.
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