Today on Stockhouse
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Diane Alter of Money Morning explains why she believes natural gas stocks ready to surge on demand from Asia.
Top Bullboards post: “The Quantec Tesoro Geological Report shows a very detailed and complex drill plan developed by Quantec showing exactly where St. Elias should drill, how deep they should drill, and at what angles to drill in order that they have best possible chance of intercepting gold mineralization. While St. Elias might have sold investors on the story of the solid gold ovoid, Quantec didn't consider it a high priority drill target, in fact the picture of the giant pink anomaly with the red blob in the middle -- the image that captured everyone's imagination -- isn't even in the report…” From Crazy_Henderson on the St.Elias Mines (TSX: V.SLI, Stock Forum) board.
Top Bullboard: St.Elias Mines (TSX: V.SLI, Stock Forum) received the second-most posts.
Top blog:ghost11 offers up some insight into the recent rise in the gold price in the GHOST TRADER2 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
“The markets are looking forward from a technical perspective to a short-term bounce after the S&P 500 closed above 1,275 for a few days and then rallied yesterday, that’s a signal we’re entering a consolidation phase,” said Peter Cardillo, chief market economist at Rockwell Global Capital, in an interview with MarketWatch. “The fear factor is always going to be there until Europe gets a grip on the crisis, but in the short term, the market has discounted what may not happen.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Benihana (NASDAQ: BNHN) |
Q4 |
$0.17 vs. $0.02 |
|
| Cascade Corp. (NYSE: CASC) |
Q1 |
$1.37 vs. $1.46 |
|
| Cooper Companies (NYSE: COO) |
Q2 |
$1.20 vs. $1.02 |
|
| Met-Pro (NYSE: MPR) |
Q1 |
$0.12 vs. $0.10 |
|
| Pep Boys (NYSE: PBY) |
Q1 |
$0.14 vs. $0.23 |
|
| UTi Worldwide (NASDAQ: UTIW) |
Q1 |
$0.16 vs. $0.13 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| COM DEV International (TSX: T.CDV) |
Q2 |
$0.06 vs. $0.04 |
|
| lululemon athletica ( TSX: T.LLL) |
Q1 |
$0.30 vs. $0.22 |
|
|
Today In The Markets
Bargain hunters extend rally to second session: TSX jumps 126 points
|
| DJIA |
12,414.79 |
+286.84 |
 |
|
| NASDAQ |
2,844.72 |
+66.61 |
|
|
| S&P500 |
1,315.13 |
+29.63 |
|
|
| S&P/TSX |
11,633.40 |
+125.69 |
|
|
| S&P/TSX Venture |
1,302.64 |
+17.07 |
|
|
TORONTO-NEW YORK (The Canadian Press) - - A rally on the Toronto stock market extended to a second session Wednesday as traders continued to pick up stocks that have been beaten down amid concern about the potential global impact of the European Union's drawn-out debt crisis.
The S&P/TSX composite index jumped 125.69 points to close at 11,633.4 on top of a 172-point surge Tuesday. The index had been up as much as 179 points Wednesday morning but gains eroded as the gold sector turned sharply lower, even as bullion closed at a one-month high. The TSX Venture Exchange was up 17.07 points to 1,302.64.
New York's Dow Jones industrials surged 286.84 points to 12,414.79. The Nasdaq composite index gained 66.61 points to 2,844.72 and the S&P 500 index was ahead 29.63 points to 1,315.13.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Men’s Wearhouse (NYSE: MW, Stock Forum)
Shares of the apparel retailer sank as much as 18% in Wednesday’s after-hours session after it posted first-quarter earnings of 52 cents a share on $586.6 million in revenue. Analysts expected earnings of 55 cents a share on sales of $593.7 million.
WesternZagros Resources (TSX: V.WZR, Stock Forum)
The oil and gas producer/explorer, after Wednesday’s closing bell, reported a revised Mean Prospective Resource of 278 MMbbl of oil as of June 1, 2012, compared with the 124 MMbbl estimate announced previously.
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