Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Peter Degraaf argues that gold and silver could be setting up for a big month.
Top Bullboards post: “So Gazprom paying around $177m for their share of Garmian. Add the TLM $280m for Kurdamir and that gives a total entry cost of $457m into the same blocks as WZR. WZR Mcap still does not reflect this or the oil.” From Olmert4 on the WesternZagros Resources (TSX: V.WZR, Stock Forum) board.
Top Bullboard: Orbite Aluminae (TSX: T.ORT, Stock Forum) received the second-most reads and posts.
Top blog:LexLuthor2 believes this stock could be the next takeover in the Canadian energy sector in the Lex Corp News Letter 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
"If the economy doesn't improve by mid-September, the Fed will do more QE I have little doubt. While the Fed remains the topic of discussion today, [European Central Bank President] Mario Draghi kicked [Fed Chairman Ben] Bernanke off the stage last week and all eyes are on Europe and what Draghi follows through with tomorrow, if at all," said Peter Boockvar, equity strategist at Miler Tabak, in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| American International Group (NYSE: AIG) |
Q2 |
$0.57 vs. $0.69 |
|
| Eagle Materials (NYSE: EXP) |
Q1 |
$0.38 vs. $0.07 |
|
| General Motors (NYSE: GM) |
Q2 |
$0.74 vs. $1.54 |
|
| Kodiak Oil & Gas (NYSE: KOG) |
Q2 |
$0.10 vs. $0.04 |
|
| LinkedIn Corporation (NYSE: LNKD) |
Q2 |
$0.16 vs. $0.10 |
|
| Molycorp (NYSE: MCP) |
Q2 |
$0.08 vs. $0.52 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Enbridge (TSX: T.ENB) |
Q2 |
$0.38 vs. $0.35 |
|
| Primero Mining ( TSX: T.P) |
Q2 |
$0.12 vs. $0.00 |
|
| Silvercorp Metals (TSX: T.SVM) |
Q1 |
$0.10 vs. $0.15 |
|
| Wi-Lan Inc. (TSX: T.WIN) |
Q2 |
$0.08 vs. $0.18 |
|
|
Today In The Markets
Stock markets weaken as Fed says US economy slowed in first half of year
|
| DJIA |
12,976.13 |
-32.55 |
 |
|
| NASDAQ |
2,920.21 |
-19.31 |
|
|
| S&P500 |
1,375.32 |
-4.00 |
|
|
| S&P/TSX |
11,618.53 |
-46.18 |
|
|
| S&P/TSX Venture |
1,189.33 |
+6.32 |
 |
|
TORONTO-NEW YORK (The Canadian Press) - - North American markets finished lower on Wednesday after the U.S. Federal Reserve opted not to take any moves to stimulate the struggling economy.
The S&P/TSX composite index was off 46.18 points to 11,618.53 and the TSX Venture Exchange gained 6.25 points to 1,189.33.
On Wall Street, the Dow Jones industrial average was down 32.55 points to 12,976.13 and the Nasdaq slid 19.31 points at 2,920.21. The S&P fell four points to 1,375.32.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
First Quantum Minerals (TSX: T.FM, Stock Forum)
After Wednesday’s close, the base metal miner reported second-quarter net earnings attributable to shareholders that slipped 9% to $142 million, or 30 cents a share, compared with $155.3 million, or 33 cents a share, in the year-earlier period. Revenue rose 9% to $722 million as copper sales climbed 11% to 72,711 tonnes in the second quarter. Analysts, on average, had expected earnings of 22 cents a share on revenue of $688 million, according to Thomson Reuters I/B/E/S.
|