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Stockhouse @ the Bell: Stocks up on Greek debt latest

Stockhouse Editorial
0 Comments| February 8, 2012

Today on Stockhouse

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Peter Kennedy reports on how the Goldcorp Chairman is linked to an insider trading probe.

While Jeff Clark of Casey Research provides a new reason he believes gold stocks will soar.

Top Bullboards post: “As investors, understanding what we own will be vital going forward.  That might seem a rather obvious statement, but it will certainly determine where you "get off the bus."  Bioasis has presented us with a rare opportunity to make many multiples on our investment and one doesn't want to be selling themselves short during the process.  They say knowledge is power, but it is wisdom that will carry the day for us as we apply our knowledge. Understanding how to interpret results that will come from the Texas Tech experiments will be crucial for us.  This involves knowing how Herceptin works…” From pmrider on the biOasis Technologies (TSX: V.BTI) board.

Top Bullboard: Allana Potash (TSX: T.AAAStock Forum) received the second-most reads and third-most posts.

Top blog: coffintrader points to an article suggesting this will be gold's best year yet in the WallStreet Investing 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

"It (restructuring of Greece's sovereign debt) is going to be a drawn-out process like it has been, but the market has been looking beyond that," said Tim Ghriskey, investment officer of Solaris Asset Management, in an interview with Reuters

Selected expected U.S. earnings releases for Thursday
(Consensus Estimates vs. Last Year)
Coca-Cola Enterprises (NYSE: CCE) Q4 $0.36 vs. $0.28
Leapfrog Enterprises (NYSE: LF) Q4 $0.42 vs. $0.38
Pepsico (NYSE: PEP) Q4 $1.13 vs. $1.05
Philip Morris International (NYSE: PM) Q4 $1.09 vs. $0.97
Scripps Networks Interactive (NYSE: SNI) Q4 $0.82 vs. $0.69
True Religion Apparel (NASDAQ: TRLG) Q4 $0.71 vs. $0.63

Selected expected Canadian earnings releases for Thursday
(Consensus Estimates vs. Last Year)
BCE Inc. (TSX: T.BCE) Q4 $0.66 vs. $0.60
Cameco (TSX: T.CCO) Q4 $0.42 vs. $0.48
Husky Energy ( TSX: T.HSE) Q4 $0.55 vs. $0.38
Shoppers Drug Mart (TSX: T.SC) Q4 $0.82 vs. $0.79

Today In The Markets

TSX nets small advance as Greek party leaders hold crucial debt talks

DJIA 12,883.95 +5.75 Click to enlarge
NASDAQ 2,915.86 +11.78 Click to enlarge
S&P500 1,349.96 +2.91 Click to enlarge
S&P/TSX 12,521.02 +8.60 Click to enlarge
S&P/TSX Venture 1,665.74 +2.41 Click to enlarge

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed slightly higher, thanks to a late session runup in financial stocks.

Meanwhile, traders hoped that Greece is close to arriving at a deal that will see it get a crucial second bailout to stave off bankruptcy.

The S&P/TSX composite index rose 8.61 points to 12,521.02, weighted down by lower mining stocks, while the TSX Venture Exchange was up 2.41 points to 1,665.74. The Canadian dollar was down 0.13 of a cent to 100.39 cents US.

U.S. markets advanced with the Dow industrials adding 5.75 points to 12,883.95. The Nasdaq composite index jumped 11.78 points to 2,915.86 while the S&P 500 index was up 2.91 points to 1,349.96.

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

After-Hours News

Cisco (NASDAQ: CSCO, Stock Forum)
Cisco, the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its second quarter results for the period ended January 28, 2012. Cisco reported second quarter net sales of $11.5 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.2 billion or $0.40 per share, and non-GAAP net income of $2.6 billion or $0.47 per share. That compares to year ago sales of $10.4 billion, net income of $1.5 billion or $0.27 cents a share.

Lake Shore Gold Corp. (TSX: T.LSG, Stock Forum)
Lake Shore Gold Corp. announced that the Company has entered into an agreement with Franco-Nevada Corp. (TSX: T.FNV, Stock Forum) through which Franco-Nevada will pay to the Company US$35 million for a 2.25% net smelter return royalty on the sale of minerals from the company's Timmins West Complex. In addition, Franco-Nevada will pay C$15 million to acquire 10,050,591 common shares of the Company on a private placement basis, with the purchase price per share of C$1.49 representing a 5% premium to the 10-day volume weighted average price.


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