Today on Stockhouse
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Ed Bugos of The Dollar Vigilante believes this gold junior is a possible 10-bagger within two to three years.
Top Bullboards post: “Maybe they can triple or quadruple expectations (500 mmcf/d) on these wells. We have heard enough about thickness and porosities in various NR's to know that management is "pleased"....so maybe come August/September we will hear some initial production #'s.” From Luxor63 on the Thunderbird Energy (TSX: V.TBD, Stock Forum) board.
Top Bullboard: Barkerville Gold Mines (TSX: V.BGM, Stock Forum) received the third-most reads and posts.
Top blog:coffintrader presents an article speculating that a major Fed move is set to spark a gold price explosion in the WallStreet Investing 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
"The disappointment that there was nothing promised from Bernanke caused the markets to sell off," said Bruce McCain, chief investment strategist for Key Private Bank, in an interview with CNNMoney. "But upon reflection, he also didn't say no, so that keeps the hope alive."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| American Express Company (NYSE: AXP) |
Q2 |
$1.09 vs. $1.07 |
|
| Bank of America (NYSE: BAC) |
Q2 |
$0.14 vs. $ - 0.90 |
|
| eBay Inc. (NASDAQ: EBAY) |
Q2 |
$0.55 vs. $0.48 |
|
| International Business Machines (NYSE: IBM) |
Q2 |
$3.42 vs. $3.09 |
|
| QUALCOMM (NASDAQ: QCOM) |
Q3 |
$0.86 vs. $0.73 |
|
| Yum! Brands (NYSE: YUM) |
Q2 |
$0.70 vs. $0.66 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Aastra Technologies (TSX: T.AAH) |
Q2 |
$0.52 vs. $0.43 |
|
|
Today In The Markets
Stocks reverse losses amid strong U.S. corporate earnings, rising oil prices
|
| DJIA |
12,805.54 |
+78.33 |
 |
|
| NASDAQ |
2,910.04 |
+13.09 |
|
|
| S&P500 |
1,363.67 |
+10.03 |
|
|
| S&P/TSX |
11,571.19 |
+50.01 |
 |
|
| S&P/TSX Venture |
1,176.75 |
-6.60 |
 |
|
TORONTO-NEW YORK (The Canadian Press) - - The Toronto stock market shook off a bout of morning weakness to move modestly higher Tuesday afternoon as rising oil prices boosted energy stocks.
The S&P/TSX composite index gained 50.02 points to 11,571.19. The TSX Venture Exchange gave back 6.6 points to 1,176.75.
But the Dow Jones industrials finished well into positive territory, jumping 78.33 points to 12,805.54 as traders moved their focus to strong earnings reports and data showing a rise in industrial production. The Nasdaq composite index was up 13.1 points to 2,910.04 and the S&P 500 index climbed 10.03 points to 1,363.67.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Intel (NASDAQ: INTC, Stock Forum)
After Tuesday’s close, the semiconductor giant said revenue for its second quarter rose to $13.5 billion, with earnings per share of 54 cents, on a GAAP basis. Excluding some costs, Intel reported 57 cents a share. Wall Street expected revenue of $13.54 billion and earnings per share of 52 cents, or 54 cents, excluding some costs.
Black Iron (TSX: T.BKI, Stock Forum)
The junior explorer, after Tuesday’s closing bell, reported additional assay results from the definition and exploration diamond drill program at its Shymanivske Iron Ore Project in Ukraine, which included 60.2 meters grading 35.2% iron.
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