Active broad-market exchange-traded funds at Thursday regular
SPDR S&P 500 (
): -0.21%, but still near its all-time high.
iShares MSCI Emerging Markets Index (
Select Financial Sector SPDRs (
): -0.61%, near its five-year high
iShares Russell 2000 Index (
): -0.02%, but earlier touched fresh all time highs
PowerShares QQQ Trust, Series 1 (
): -0.01%, but still near its 13-year highs.
Broad Market Indicators
Most broad market exchange-traded funds were edging lower
pre-bell on Friday. Actively traded PowerShares QQQ (
) has dropped 0.29%.
U.S. stock futures are pointing to a better open thanks to Q4
results from General Electric (GE) and Morgan Stanley (MS). Data
out this morning includes housing starts, which came in slightly
weaker than expected. The Commerce Department said groundbreaking
dropped 9.8 percent to a seasonally adjusted annual rate of
999,000-unit pace. The forecast was for a decline of 9.2%.
Power Play: Healthcare
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are all unchanged pre-bell,
but are trading near the top of their 52-week ranges. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) is also flat after
reaching a record high Thursday.
In corporate news, Keryx Biopharmaceuticals (KERX) is up 7% in
pre-market trade after disclosing that its Japanese partner, Japan
Tobacco Inc. (JT), received manufacturing and marketing approval of
ferric citrate from the Japanese Ministry of Health, Labour and
Welfare. Ferric citrate, to be marketed in Japan by JT's
subsidiary, Torii Pharmaceutical Co., Ltd., under the brand name
Riona, is indicated as an oral treatment for the improvement of
hyperphosphatemia in patients with chronic kidney disease (CKD),
including dialysis and non-dialysis dependent CKD.
Winners and Losers
Select Financial Sector SPDRs (
) is flat, but still near its highest level since May 2008.
Direxion Daily Financial Bull 3X shares (FAS) edging lower
pre-market. Its bearish counterpart, FAZ is unchanged an remains
near an all-time low.
Among financial stocks, Morgan Stanley (MS) reports Q4 non-GAAP
earnings per share of $0.20 down from $0.49 a year ago, while GAAP
EPS were $0.07 compared with $0.33 a year ago. Fourth Quarter net
revenues rose to $7.8 billion from $7 billion a year ago. Excluding
a debt valuation adjustment, net revenues for the current quarter
were $8.2 billion. Analysts had been looking for $8 billion. The
shares are up 0.9% pre-market.
There's little movement in tech ETFs this morning. Technology
Select Sector SPDR ETF (XLK), iShares Dow Jones US Technology ETF
(IYW); iShares S&P North American Technology ETF (IGM); iShares
S&P North American Technology-Software Index (IGV) and SPDR
S&P International Technology Sector ETF (IPK) are unchanged,
but remain near the top of their 52-week range.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were flat.
In stocks news, American depositary shares of Wipro Ltd. (WIT)
slipped almost 5% in Friday's pre-market session, despite the
technology-services outsourcing company's report of fiscal
third-quarter earnings slightly above expectations while revenue
was in line with Street estimates. For the quarter ended Dec. 31,
the company posted earnings from continuing operations attributable
to equity holders of 20.1 billion rupees, or 8.18 rupees per share,
up from 17.2 billion rupees, or 6.46 rupees per share.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) are unchanged so far, despite an uptick in the price of crude
In corporate news, oil services and equipment supplier
Schlumberger Limited (SLB) gained 1% in the pre-market session
Friday after reporting Q4 2013 adjusted diluted EPS of $1.35,
topping the Capital IQ consensus by $0.02. Year-ago adjusted
diluted EPS was $1.04.
Crude was up 0.66%; United States Oil Fund (USO) was up 0.5%.
Natural gas is down 0.76% and United States Natural Gas Fund (UNG)
has fallen 0.8%.
Gold was up 0.6% and silver was up 0.8%. Among rare metal funds,
SPDR Gold Trust (GLD) was up 0.5%; iShares Silver Trust (SLV) was
Consumer Staples Select Sector SPDR (XLP) and other consumer
ETFs Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US
Consumer Goods (IYK) are showing little movement after a mixed
session on Thursday.
In stocks news, shares of Elizabeth Arden (RDEN) are down 21% at
a new 52-week low of $27.11 in pre-market trade, coming off an
after-hours halt. RDEN said it expects Q2 adjusted EPS of
$1.05-$1.08 on sales of $415 million-$418 million, short of the
analyst consensus on Cap IQ of EPS of $1.47 on sales of $469