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Stockhouse @ the Bell: Stocks rise on U.S. debt hopes

Stockhouse Editorial
0 Comments| July 19, 2011

Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at [email protected]. Submission guidelines can be found here.

Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report.

Frank Curzio of Growth Stock Wire describes what he considers to be another huge win for natural gas and a Canadian company that could benefit.

Top Bullboards post: “Looking at LSG's info on web site, I can't say I am overwhelmed.  I thought these guys had 10+ gpt type stuff, of course it has been a few years since I followed them and it seems like all the gold juniors are showing lower grades over time as they refine their resource estimates. But Bell Creek is what, something like 4 gpt, hardly something to get excited about paying $400 per ounce for. Unless there is more to the story I will stick with Rubicon, Sabina, Claude, Eastmain, and Maudore.” From bot_feeder on the Lake Shore Gold (TSX: T.LSG, Stock Forum) board.

Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the second-most reads and posts.

Top blog: Architeuthis provides a historical view of 'The Great Depression' and gold in the Thoughts from the deep 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

“IBM came out with really good earnings and upped (its) estimates. Other than financials, which are going to continue to be under duress, the rest of the market is going to do pretty well,” said Mark Coffelt, president and chief investment officer at Empiric Advisors, in an interview with MarketWatch.

Selected expected U.S. earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
American Express Company (NYSE: AXP) Q2 $0.98 vs. $0.84
eBay (NASDAQ: EBAY) Q2 $0.46 vs. $0.40
Intel Corporation (NASDAQ: INTC) Q2 $0.51 vs. $0.51
Piper Jaffray Companies (NYSE: PJC) Q2 $0.49 vs. $0.36
Qualcomm (NASDAQ: QCOM) Q3 $0.71 vs. $0.57
Tractor Supply Company (NASDAQ: TSCO) Q2 $1.19 vs. $1.03

Selected expected Canadian earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
Aastra Technologies (TSX: T.AAH) Q2 $0.45 vs. $0.37

Today In The Markets

TSX higher amid rising commodities, hopes for end to impasse over U.S. debt

DJIA 12,587.42 +202.26 Click to enlarge
NASDAQ 2,826.52 +61.41 Click to enlarge
S&P500 1,326.73 +21.29 Click to enlarge
S&P/TSX 13,332.92 +78.78 Click to enlarge
S&P/TSX Venture 1,993.47 -11.03 Click to enlarge

Toronto & New York (The Canadian Press) - Rising oil and copper prices helped push the Toronto stock market higher Tuesday while some strong U.S. earnings reports helped briefly divert investor attention from government debt worries.

Rising optimism that American lawmakers are edging closer to a deal to raise the government's debt limit also helped take the S&P/TSX composite index up 78.78 points to 13,332.92. The TSX Venture Exchange edged 11.03 points lower to 1,993.47.

Hopes for an end to the U.S. debt impasse and well-received earnings reports from the likes of IBM and Coca-Cola sent U.S. markets surging.
The Dow industrials surged 202.26 points to 12,587.42.

The Nasdaq composite index rose 61.41 points to 2,826.52 while the S&P 500 index was up 21.29 points to 1,326.73.

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

After-Hours News

Apple Inc. (NASDAQ: APPL, Stock Forum)
Apple Inc. announced financial results for its fiscal 2011 third quarter ended June 25, 2011. The company posted record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion, or $7.79 per diluted share. These results compare to revenue of $15.70 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter's revenue.

West Kirkland Mining Inc. (TSX: V.WKM, Stock Forum)
West Kirkland Mining Inc. is pleased to report assay results from the Company's first core drilling on its TUG property, which is currently under option from Newmont Mining Corp. The first hole of the drill program returned 15.48 meters (50.8 feet) grading 3.08 grams per tonne gold (0.09 oz/t) and 94.75 grams/tonne silver (2.77 oz/t). It compares well with previous reverse circulation type drilling in the area by other operators, which graded 3.11 g/t Au over 22.9 meters (from 32.0 to 54.9 meters), the company said.


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