Markets in New York rallied on the anniversary of the bear market low, while a retreat in gold prices pulled down the main Toronto index.
Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Andrew Mickey gives the contrarian case for looking at solar energy.
Because Tom Dyson disagreed with his colleague about whether the recession was over he suggested two companies with “recession-resistant” business models.
Top Bullboards post: After Sea Dragon Energy (TSX: V.SDX, Stock Forum) announced successful production testing of its Al-Amir appraisal well in Egypt, mjh9413 wrote: “I went longer-term long in SDX today for two reasons. First, the wording shows Arrata has been put in lock-stop with the other significant partner as Arrata and Hough's quotes are exactly the same and, second, the Tanmia deal strikes me as the real surprise and meaningful news, and they say they are already looking at the data. Still believe that cf will not prove entirely sufficient for current cost burden but this might be a relatively risk-free level to get in. Certainly better than anything over 50 cents.”
Top Bullboard: The Explor Resources (TSX: V.EXS, Stock Forum) Bullboard was again in the top three as the company’s shares bounced back 7%.
Top blog: adora outlined the resource estimate for Wildcat Silver’s(TSX: V.WS, Stock Forum) Hardshell polymetallic property in Arizona in the Gold & Silver Stocks blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"A lot of the gains we already enjoyed have been in anticipation of economic progress which has not yet occurred," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors in an interview with Associated Press.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| American Eagle Outfitters (NYSE: AEO) |
Q4 |
$0.33 vs. $0.19 |
|
| Arena Pharmaceuticals (NASDAQ: ARNA) |
Q4 |
-$0.31 vs. -$0.84 |
|
| FuelCell Energy (NASDAQ: FCEL) |
Q1 |
-$0.18 vs. -$0.30 |
|
| The Children’s Place (NASDAQ: PLCE) |
Q4 |
$1.03 vs. $0.72 |
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Ballard Power (TSX: T.BLD) |
Q4 |
-US$0.09 vs. –US$0.22 |
|
| Dorel Industries (TSX: T.DII.B) |
Q4 |
US$0.63 vs. US$0.57 |
|
| QLT Inc (TSX: T.QLT) |
Q4 |
N/A vs. US$0.08 |
|
| Quebecor Inc (TSX: T.QBR.B) |
Q4 |
$0.98 vs. -$5.34 |
|
| Viterra (TSX: T.VT) |
Q1 |
$0.07 vs. -$0.14 |
|
Today In The Markets
Better than expected bank earnings not enough to push TSX into positive territory
|
| DJIA |
10,564.38 |
+11.86 |
 |
|
| NASDAQ |
2,340.68 |
+8.47 |
|
|
| S&P500 |
1,140.44 |
+1.94 |
|
|
| S&P/TSX |
11,918.71 |
-45.13 |
 |
|
| S&P/TSX Venture |
1,558.76 |
-3.17 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market was little changed early Tuesday afternoon as Scotiabank handed in a better than expected earnings report and commodity prices weakened.
Financial and tech stocks helped support U.S. markets.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Navistar (NYSE: NAV, Stock Forum)
The company reported first quarter revenue of $2.81 billion, down from its year ago revenue of $2.97 billion. Net income fell to 23 cents per share from 67 cents per share. Nevertheless, the truck and engine maker surpassed Street expectations.
Opta Minerals (TSX: T.OPM, Stock Forum)
The company reported Q4 and year end results after the bell. For its fourth quarter Opta had net earnings of $4 cents per diluted common share, against its net loss of 12 cents per share in the comparable quarter of 2008.Revenues in the quarter slipped 4% to $16.7 million from $17.4 million in 2008.
Stockhouse Conflict and Disclosure Policy:
Stockhouse publishing Ltd., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.
Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.
Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.
Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.
Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.
| 