Today on Stockhouse
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Peter Kennedy reports on why Raymond James thinks Facebook could be a popular short in his Stockhouse Short Report.
Top Bullboards post: “With a proven 2.3 billion NPV and possibly more expansion, 7.6 mill to build mine, located in mining friendly Quebec this property has a huge upside for someone with deep pockets.” From doug_e_fl on the Commerce Resources (TSX: V.CCE, Stock Forum) board.
Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog:ghost11 suggests investors keep an eye on this financial services stock in the GHOST TRADER2 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
"On both the job front and durable goods orders (data) was a little bit disappointing but not outright negative," said Bruce McCain, chief investment strategist at Key Private Bank, in an interview with Reuters. "The market has pulled back far enough that people are trying to assess if we've priced the worst of what's known. But with the problems in Europe and the fact the news isn't reassuring, prices are still somewhat soft."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Bio-Reference Laboratories (NASDAQ: BRLI) |
Q2 |
$0.32 vs. $0.26 |
|
| Mentor Graphics (NASDAQ: MENT) |
Q1 |
$0.25 vs. $0.20 |
|
| Post Holdings (NYSE: POST) |
Q2 |
$0.48 vs. N/A |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Garda World Security (TSX: T.GW) |
Q1 |
$0.16 vs. $0.14 |
|
| Heroux-Devtek ( TSX: T.HRX) |
Q4 |
$0.27 vs. $0.25 |
|
|
Today In The Markets
Toronto stock market closes flat after two days of bargain hunting
|
| DJIA |
12,529.75 |
+33.60 |
 |
|
| NASDAQ |
2,839.38 |
-10.74 |
 |
|
| S&P500 |
1,320.68 |
+1.82 |
|
|
| S&P/TSX |
11,566.07 |
+1.27 |
|
|
| S&P/TSX Venture |
1,282.47 |
+25.99 |
|
|
TORONTO-NEW YORK (The Canadian Press) - - The Toronto stock market closed flat as a third day of bargain hunting fizzled, trumped by uncertainty about the future of the eurozone.
Commodity prices rose even as European Union leaders ended their one-day summit no closer to finding a solution to the region's worsening government debt crisis.
The S&P/TSX composite index had risen as much as 63 points as investors continued to buy up stocks beaten down in a sharp sell-off over the past three weeks. But the TSX ended the day up 1.27 points to 11,566.07 led by falling bank and resource stocks. The TSX Venture Exchange climbed 25.99 points to 1,282.47.
The Dow Jones industrials were ahead 33.6 points to 12,529.75. The Nasdaq composite index declined 10.74 points to 2,839.38 while the S&P 500 index rose 1.82 points to 1,320.68.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
VeriFone (NYSE: PAY, Stock Forum)
After Thursday’s close, the payment-services company said it expects fiscal third-quarter adjusted earnings of 68 cents to 70 cents a share on adjusted revenue of $495 million to $500 million. Analysts expected earnings of 70 cents a share on $502 million in revenue.
Russel Metals (TSX: T.RUS, Stock Forum)
The metals distribution company, after Thursday’s closing bell, said it has signed an agreement to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta. The acquisition includes the operating assets and the land and buildings. The total purchase price was $30 million. Revenues are approximately $30 million.
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