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Stockhouse @ the Bell: U.S. stocks up on Greece, job stats

Stockhouse Editorial
0 Comments| February 9, 2012

Today on Stockhouse

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Steven Saville offers up what he considers to be common misconceptions about gold.

Top Bullboards post: “There is NO WAY Franco-Nevada would have signed this deal without knowing results on the deep hole. They would have waited for results. So I feel this deal has answered my questions on the deep hole and look for news release on this matter very, very soon. Franco Nevada will want this S/p well above their $1.48 buy in price. I think we will get a lot of good news releases now that this deal is done and Franco Nevada has their position in LSG.” From crazyinvestor on the Lake Shore Gold (TSX: T.LSGStock Forum) board.

Top Bullboard: Yellow Media (TSX: T.YLOStock Forum) received the second-most reads and posts on a day its share price fell more than 10%.

Top blog: LexLuthor2 provides some oil and gold stock picks in the Lex Corp News Letter blog.

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


Word on Wall Street

"The market has been waiting for this (Greek austerity deal) news for weeks," said Art Hogan, managing director at Lazard Capital Markets, in an interview with CNNMoney. "It's a step in the right direction but it has been expected, so that's why the reaction is rather muted."

Selected expected U.S. earnings releases for Thursday
(Consensus Estimates vs. Last Year)
Aaron's, Inc. (NYSE: AAN) Q4 $0.43 vs. $0.38
Arch Coal (NYSE: ACI) Q4 $0.32 vs. $0.33
FLIR Systems (NASDAQ: FLIR) Q4 $0.45 vs. $0.43
NYSE Euronext (NYSE: NYX) Q4 $0.48 vs. $0.46
Ruth's Hospitality Group (NASDAQ: RUTH) Q4 $0.10 vs. $0.08
Treehouse Foods (NYSE: THS) Q4 $0.88 vs. $0.80

Selected expected Canadian earnings releases for Friday
(Consensus Estimates vs. Last Year)
Grande Cache Coal (TSX: T.GCE) Q3 $0.25 vs. $0.05
IGM Financial (TSX: T.IGM) Q4 $0.76 vs. $0.76
Manitoba Telecom Services ( TSX: T.MBT) Q4 $0.58 vs. $0.48
TELUS (TSX: T.T) Q4 $0.78 vs. $0.70

Today In The Markets

TSX moves lower amid earnings disappointments, Greek bailout deal

DJIA 12,890.46 +6.51 Click to enlarge
NASDAQ 2,927.23 +11.37 Click to enlarge
S&P500 1,351.95 +1.99 Click to enlarge
S&P/TSX 12,497.94 -23.08 Click to enlarge
S&P/TSX Venture 1,664.82 -0.92 Click to enlarge

TORONTO-NEW YORK (The Canadian Press) - Earnings disappointments in the telecom and financial sector helped push the Toronto stock market lower Thursday while traders had a muted reaction to news of a deal that should allow Greece to secure its next financial bailout.

The S&P/TSX composite index slipped 23.09 points to 12,497.94 while the TSX Venture Exchange was off 0.92 of a point to 1,664.82.

New York's Dow industrials closed up 6.51 points to 12,890.46. The Nasdaq was up 11.37 points to 2,927.23 and the S&P 500 index rose 1.99 points to 1,351.95.

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

After-Hours News

LinkedIn Corp. (NYSE: LNKD, Stock Forum)
LinkedIn Corp., the world's largest professional network on the Internet with more than 150 million members, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2011. Revenue for the fourth quarter was $167.7 million, an increase of 105% compared to $81.7 million for the fourth quarter of 2010. GAAP net income for the fourth quarter was $6.9 million, compared to net income of $5.3 million for the fourth quarter of 2010. GAAP EPS was $0.06 based on 108.6 million fully-diluted weighted shares outstanding compared to $0.03 for the fourth quarter of 2010 based on 49.4 million fully-diluted weighted shares outstanding

Yorbeau Resources Inc. (TSX: T.YRB.A, Stock Forum)
Yorbeau Resources Inc. announced the appointment of Frank Di Tomaso to its Board of Directors. Mr. Frank Di Tomaso, FCA, ICD.D is a Chartered Accountant since 1972 and an ICD.D since 2009. He is a Corporate Director and an Advisory Partner at Raymond Chabot Grant Thornton LLP where he has worked since 1981, and most recently held the position of Managing Partner Audit - Public Companies. He is also a Director of Redline Communications Inc., the Laurentian Pilotage Authority and the Ordre des comptables agréés du Québec.


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