Today on Stockhouse
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Ticker Trax’s Thom Calandra writes about why institutions still want lithium.
And, James Turk of GoldMoney.com claims investors may not have to wait much longer for silver's upside breakout.
Top Bullboards post: “The preliminary estimate from the company 2009 presentation showed that with either commercial production or pilot production, the rate of return will be triple digit, i.e., pay back the entire investment within months. The NPV will be so high that the stock price should enjoy a premium over other companies. Goldcorp always enjoyed a premium over other gold companies due to its high rate of return, and thus Argex should be.” From canada7 on the Argex Mining (TSX: V.RGX, Stock Forum) board.
Top Bullboard: 01 Communique Laboratory (TSX: T.ONE, Stock Forum) received the most reads and posts.
Top blog: 1BestPicks believes this gold junior is an attractive buyout candidate in the BestPicks =2=Stock Buy Sheets blog.
For news about small stocks that made big moves in Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"With 100 S&P 500 companies reporting to date, 76% have reported earnings above estimates and 65% have reported revenue above estimates," said John Butters of Thomson Reuters, in an interview with MarketWatch. "These percentages are consistent with final percentages we've recorded over the past three quarters for both earnings and revenues."
Today In The Markets
TSX moves to triple-digit loss after Bernanke testimony; dollar slips
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market dropped to a triple-digit loss Wednesday afternoon after Federal Reserve chairman Ben Bernanke told Congress the U.S. economic outlook remains "unusually uncertain."
The S&P/TSX composite index lost 125.03 points to 11,504.85.
Bernanke said the Fed is "prepared to take further policy actions as needed" to keep the recovery on track.
The TSX Venture Exchange was up 2.41 points to 1,365.60.
New York markets moved lower following Bernanke's speech. The Dow Jones industrial average lost 103.30 points to 10,126.66. The Nasdaq composite index was down 25.11 points at 2,197.38 while the S&P 500 index fell 11.99 points to 1,071.49.
Without any major economic data, markets also eyed more second-quarter earnings from key U.S. companies.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Ebay Inc. (NASDAQ: EBAY, Stock Forum) Ebay Inc. said earnings in the second quarter ended June 30, 2010 rose 26% to US$412 million or 31 cents a share, from $327 million or 25 cents in the same period last year. Revenue in the second quarter rose 6% to $2.22 billion.
SolarWinds Inc. (NYSE: SWI, Stock Forum) SolarWinds Inc., a provider of IT management software, reported its financial results for the second quarter ended June 30, 2010. The company said total revenue in the quarter was a record $35.5 million, marking a 31% increase from last year. Net income in the quarter was $8.8 million or 12 cents a share, compared to $6.8 million or 13 cents in the same period last year.
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