Active broad-market exchange-traded funds at Tuesday's regular
SPDR S&P 500 (
): -0.16%, but still near its all-time high.
Select Financial Sector SPDRs (
): -0.30%, near its five-year high
iShares MSCI Emerging Markets Index (
Market Vectors Gold Miners (
PowerShares QQQ Trust, Series 1 (
): +0.24%, reaching a 13-year high.
Broad Market Indicators
Broad market exchange-traded funds are slightly lower in
pre-market trading, but most were still near their record or
multi-year highs. Actively traded PowerShares QQQ (
) is pushing into the green.
U.S. stock futures are pointing to a lower open after a mixed
bag of earnings reports, in particular from the tech sector. IBM
(IBM) is down 3.3% after the company missed revenue expectations
amid weakening demand, while Advanced Micro Devices (AMD) is down
8% after the chipmaker forecast a steeper-than-expected fall in
current quarter revenue.
Power Play: Technology
Technology shares may be in focus today after disappointing
earnings from tech heavyweights. Technology Select Sector SPDR ETF
(XLK) is flat, but slipped 0.28% after hours. It is trading just
below its 12-year high. iShares Dow Jones US Technology ETF (IYW),
iShares S&P North American Technology ETF (IGM) and iShares
S&P North American Technology-Software Index (IGV) closed
firmer after setting record, or multi-year highs on Tuesday. SPDR
S&P International Technology Sector ETF (IPK) is flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
flat after setting a three-year high on Tuesday, while
Semiconductor Sector Index Fund (SOXX) is also unchanged this
morning after a higher close.
In stocks news, ADRs of Zurich-based ACC (ABB) are down 4.6% at
$25.45 in pre-bell trading after the company warned its
fourth-quarter 2013 results had been adversely impacted mainly by
charges for storm-related project delays and some operational
issues in the Power Systems (PS) division. Additional
restructuring-related charges were taken in response to the
division's soft order intake in 2013. The company also booked
non-operational charges related to certain Group legacy issues.
Winners and Losers
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are flat, but all closed
higher on Tuesday after having hit record highs during the session.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) also closed
higher, and continued to gain after hours. There has been no
movement yet pre-market.
In corporate news, St. Jude Medical (STJ) rose nearly 1% in
pre-market trade after saying Q4 earnings rose 8% to $0.99 per
share, exceeding the $0.96 average Capital IQ analyst estimate. Net
sales rose 4% to $1.42 billion, in line with the consensus.
Select Financial Sector SPDRs (
) slipped after hours, but is trading near its highest level since
May 2008. Direxion Daily Financial Bull 3X shares (FAS) was down
0.25%. Its bearish counterpart, FAZ, was up 0.33%.
Among financial stocks, U.S. Bancorp (USB) shares are up 1%
today after it reported Q4 net income of $0.76 per diluted common
share, compared with $0.72 per diluted common share a year prior.
It reports $4.889 billion in revenue, down from $5.112 billion a
year prior. The Street expected $0.75 per share in earnings on
$4.88 billion in revenue, according to Capital IQ estimates.
Dow Jones U.S. Energy Fund (IYE) was flat after a higher close
Tuesday, while Energy Select Sector SPDR (XLE) is also unchanged
In corporate news, Entergy Corporation (ETR) today indicated
that it expects Q4 2013 as-reported earnings of approximately $0.81
per share and operational earnings of approximately $0.99 per
That's down from Q4 2012 of $1.66 per share but ahead of the
Street consensus of $0.71 per share.
Crude was up 0.55%; United States Oil Fund (USO) was up 0.98%.
Natural gas was up 2%, near its 52-week high and United States
Natural Gas Fund (UNG) was up 1.9%.
Gold was down 0.08% and silver was down 0.1%. Among rare metal
funds, SPDR Gold Trust (GLD) is leaning into the red; iShares
Silver Trust (SLV) was down 0.26%.
Consumer Staples Select Sector SPDR (XLP) closed higher on
Tuesday, but is unchanged so far this morning; other consumer ETFs
Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US
Consumer Goods (IYK) are also flat.
In stocks news, Coach (COH) reports Q2 earnings of $1.06 per
share, below the analyst consensus of $1.11 per share on Capital
IQ. Sales were $1.42 billion, vs. expectations of $1.48 billion.
Victor Luis, Chief Executive Officer of Coach, Inc., said, "During
the holiday quarter, total sales fell slightly in constant currency
as weakness in our North American women's bag and accessories
business offset strong growth in Men's, footwear, and robust
results in emerging Asian markets and Europe.
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