Stockhouse @ the Bell: U.S. stocks slip on profit taking; TSX higher

Stockhouse Editorial
0 Comments| May 5, 2009


Today on Stockhouse

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Chris Vermeulen provides a gold, silver & oil trading report.

Take-over chatter spurs Black & Decker call buying, says Jud Pyle.

Petrobras: A new oil power emerges, notes Dr. Joe Duarte.

In today’s Ticker Trax update by Thom Calandra, silver runs & runs.

Andrew Mickey says there could be a monstrous bubble forming in healthcare stocks.

For more articles on gold and silver, please visit the Stockhouse gold & silver feature supplement: http://www.stockhousefeatures.com/gold-and-silver/

Buzz on the Boards stopped by the Lake Shore Gold Corp. (TSX:T.LSG, Stock Forum) and the Corridor Resources (TSX: T.CDH, Stock Forum) Bullboards.           

Top Bullboards post: “Depression era had a very quick 30%-33% jump off the bottom (over a few weeks) then fell sharply, yet not breaking first low. It then rallied 48% over the next several months. Will this be a repeat? This would be just way too quick of a run-up to that 50% mark. JMHO (look for DOW 8500-8700 as good short, should history repeat.)” – From gunny74 on the Horizons BetaPro S&P TSX 60 Bear Plus ETF (TSX: T.HXD, Stock Forum) Bullboard.

Top Bullboard: Cypress Development Corp. (TSX: V.CYP, Stock Forum) had today’s most posted Bullboard.

Top blog: On the Ghost Trader2 blog Tuesday, ghost11 looked at a sign of a bullish trend.

For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"Simply beating reduced earnings expectations is helping in the short term but in the long term, one must have earnings and revenue growth, not merely better-than-expected contraction," Dan Greenhaus, market strategist at Miller Tabak told MarketWatch.

Selected expected U.S. earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
Cisco Systems (NASDAQ: CSCO) Q3 $0.25 vs. $0.38
Dollar Thrifty Automotive Group (NYSE: DTG) Q1 -$0.66 vs. -$0.77
Open Text (NASDAQ: OTEX) Q3 $0.58 vs. $0.48
Petrohawk Energy Corp. (NYSE: HK) Q1 $0.02 vs. $0.15
Sunoco (NYSE: SUN) Q1 $0.34 vs. -$0.50
Total (NYSE: TOT) Q1 $1.21 vs. $2.15

Selected expected Canadian earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
Biovail Corporation (TSX: T.BVF) Q1 US$0.31 vs. $0.38
Enbridge (TSX: T.ENB) Q1 US$0.60 vs. $0.67
Magna International (TSX: T.MG.A) Q1 US-$1.61 vs. $1.78

Today In The Markets

Stock markets close mixed, investors opt for caution following big runup

DJIA 8,410.65 -16.09
NASDAQ 1,754.12 -9.44
S&P500 903.80 -3.44
S&P/TSX 9,880.72 +10.35
S&P/TSX Venture 1,030.36 +3.17

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TORONTO, NEW YORK (CP) - A strong showing in the financial sector gave the Toronto stock market an upward nudge Tuesday, adding slightly to the big gains racked up Monday.

Toronto's S&P/TSX composite index closed up 10.35 points to 9,880.72 after charging ahead 373 points Monday in its biggest one-day gain this year. Commodity stocks receded after leading the market upward Monday. The TSX Venture Exchange rose 3.17 points to 1,030.36.

New York's Dow Jones industrial average moved down 16.09 points to 8,410.65 after jumping 214 points Monday. The Nasdaq composite declined 9.44 points to 1,754.12 while the S&P 500 index was off 3.44 at 903.8.

Please click here for the current U.S. and Canadian market summaries.

After-Hours News

Walt Disney Co. (NYSE: DIS)
After Tuesday’s close, the entertainment giant reported second-quarter earnings, excluding items, of 43 cents a share, above the Wall Street forecast for earnings of 40 cents a share. Revenue fell 7% to $8.1 billion, compared with analyst expectations of $8.21 billion.

Champion Bear Resources (TSX: V.CBA)
The junior explorer, after Tuesday’s closing bell, reported additional assay results from drilling on its 100% owned Eagle Rock property south of Dryden, northwestern Ontario, which included 5.0 metres grading 2.19 g/t gold+platinum+palladium



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