Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Frank Holmes of U.S. Global Investors says look past negativity to see opportunity in commodities.
This as Jeb Handwerger explains why gold and silver investors are rotating into undervalued juniors.
Top Bullboards post: “Sweet looking numbers for sure. I was especially drawn to the eye popping 20+g/t au lines on the chart. Bound to be seeing more of those this season. With 58 holes completed to date the NR's should be coming more frequently now. I recall in one of the investment conference presentations this past spring, Rob stated that one goal this year was to be in a position to put out a 43-101 (Inferred) on Conrad. I guess with 4 drills now working on Conrad they are definitely going for it.” From Islander16 on the Atac Resources (TSX: V.ATC, Stock Forum) board.
Top Bullboard: SelectCore (TSX: V.SCG, Stock Forum) gathered the second-most posts on a day its stock price rose more than 11%.
Top blog:ghost11 likes these two gold juniors 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
"Many of the risks — an anemic European economy, a slowdown in Asia — have been factored into earnings expectations," said Talley Leger, investment strategist at Macro Vision Research, in an interview with Associated Press. "That's why we're seeing positive surprises."
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Freeport-McMoRan Copper & Gold (NYSE: FCX) |
Q2 |
$0.77 vs. $1.49 |
|
| Google (NASDAQ: GOOG) |
Q2 |
$10.05 vs. $8.74 |
|
| Microsoft (NASDAQ: MSFT) |
Q4 |
$0.62 vs. $0.69 |
|
| NCR Corp. (NYSE: NCR) |
Q2 |
$0.58 vs. $0.46 |
|
| Swift Transportation (NYSE: SWFT) |
Q2 |
$0.23 vs. $0.18 |
|
| Travelzoo (NASDAQ: TZOO) |
Q2 |
$0.41 vs. $0.30 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Nexen (TSX: T.NXY) |
Q2 |
$0.29 vs. $0.45 |
|
| Shoppers Drug Mart ( TSX: T.SC) |
Q2 |
$0.70 vs. $0.68 |
|
| West Fraser Timber (TSX: T.WFT) |
Q2 |
$0.45 vs. $ - 0.11 |
|
|
Today In The Markets
Falling gold stocks leave TSX little changed amid strong U.S. corporate earnings
|
| DJIA |
12,908.70 |
+103.16 |
 |
|
| NASDAQ |
2,942.60 |
+32.56 |
|
|
| S&P500 |
1,372.78 |
+9.11 |
|
|
| S&P/TSX |
11,579.15 |
+7.96 |
 |
|
| S&P/TSX Venture |
1,182.34 |
+5.59 |
|
|
TORONTO-NEW YORK (The Canadian Press) - - The Toronto stock market closed little changed Wednesday, supported by rising oil and copper prices amid further evidence of a slow housing recovery and strong corporate earnings in the U.S.
But the market was held back by sliding gold stocks as bullion fell for a third session.
The S&P/TSX composite index inched up 7.96 points to 11,579.15 while traders took in major deal making. The TSX Venture Exchange added 5.59 points to 1,182.34.
The Dow Jones industrial average jumped 103.16 points to 12,908.7. The Nasdaq composite index was ahead 32.56 points to 2,942.6 and the S&P 500 index was up 9.11 points to 1,372.78.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
EBay (NASDAQ: EBAY, Stock Forum)
After Wednesday’s close, the online auction company posted second-quarter adjusted earnings of 55 cents a share, a penny a share better than the analyst consensus estimate. Revenue rose to $3.4 billion from $2.8 billion a year ago, ahead of Wall Street’s forecast of $3.36 billion in sales.
Petro Viking Energy (TSX: V.VIK, Stock Forum)
The oil and gas explorer, after Wednesday’s closing bell, said it will not be proceeding with its $25 million brokered private placement, as previously announced in its news release dated April 18, 2012, due to continuing weakness in global equity markets.
|