Active broad-market exchange-traded funds at the end of
SPDR S&P 500 (
iShares S&P 500 (
PowerShares QQQ (
iShares Russell 2000 (
iShares Russell 1000 Growth (
iShares MSCI Emerging Markets Index (EEM): -2.04%
United States Oil Fund (USO): -1.09%
SPDR Gold Shares (GLD): -0.20%
Select Financial Sector SPDRS (XLF): -0.48%
Pre-Market Most Active:
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mostly higher after closing the previous session in the
red. Actively traded PowerShares QQQ (
) is up 0.28%.
U.S. stock futures are also pointing to a firmer start as
markets recovered from Tuesday's losses. Investors will be focusing
on the report on leading economic indicators for September, due out
at 10 a.m. ET, as well as the speech from Cleveland Fed President
Sandra Pianalto, scheduled at 1:10 p.m. ET; Pianalto said she will
be stepping down from her post at the end of the year. Looking
ahead to the rest of the economic data releases for the week,
investors will be keeping an eye on the European Central Bank's
meeting on Tuesday, and the U.S. nonfarm-payrolls data to be
Power Play: Technology
Tech ETFs are leaning higher as the sector looks to open
Wednesday's session higher. Technology Select Sector SPDR ETF
(XLK), 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) are flat after closing the
previous session in negative territory.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) and SPDR S&P
International Technology Sector ETF (IPK) are headed for a flat to
In sector news, Mindspeed Technologies Inc. (MSPD) is up 69% and
near the stock's 52-week high of $5.27 after the supplier of
semiconductor solutions said late Tuesday that it has inked a deal
to be acquired for $5.05 per share by M/A-COM Technology.
Separately, the company reported Q4 EPS of $0.02 on record revenue
of $36.0 million, both lines meeting Capital IQ consensus
estimates. In the prior-year period, MSPD reported a Q4 loss of
$0.01 on revenues of $35.5 million.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.44%. Direxion Daily
Financial Bull 3X shares (FAS) is up 1.27%. Its bearish
counterpart, FAZ, is down 0.98%.
Among financial stocks, Marsh & McLennan Companies, Inc.
(MMC) reported Q3 revenue was $2.9 billion, an increase of 3% on a
reported basis, or 4% on an underlying basis. Analysts expected
$2.95 billion in revenue. Adjusted earnings per share grew 18% to
$0.46, compared with $0.39 last year. Analysts expected $0.46 per
share in earnings.
Dow Jones U.S. Energy Fund (IYE) is flat while and Energy Select
Sector SPDR (XLE) is down 1.9%.
In sector news, Chesapeake Energy Corp (CHK) is up 2.31% after
the oil and gas explorations and production company said Q3
adjusted net income per fully diluted share was $0.43, and revenues
were $4.86 billion - up from the prior-year period's results and
better than Street expectations. The company is raising its 2013
oil production outlook increases by 2 million barrels to 40-42
million barrels, a 28-34% increase year over year.
December crude is up 0.69%; natural gas for January delivery is
up 0.7%. United States Oil Fund (USO) is up 0.24%. United States
Natural Gas Fund (UNG) is also up 1.04%.
Gold and silver for December delivery are higher, up 0.76% and
1.38%, respectively. Among rare metal funds, SPDR Gold Trust (GLD)
is up 0.48%; iShares Silver Trust (SLV) is up 1.10%.
Among stocks, gold mining company AngloGold Ashanti Limited (AU)
is up 5% after reporting that Q3 earnings jumped on the back of a
12% rise in production and 10% drop in total cash costs from the
previous quarter. Adjusted headline earnings were $576 million,
compared with a loss of $135 million the previous quarter. Gold
production was up 12% from previous quarter to 1,043 koz, better
than 950koz-1Moz guidance. The company is maintaining its annual
cost and production guidance at 4.0Moz - 4.1Moz at $815/oz -
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) are pointing to a firmer start.
In sector news, Tesla Motors (TSLA) is down 11% after it said in
Tuesday's after-hours that it expects Q4 EPS of $0.12, in line with
the prior-year period's EPS but below the Street view. However, its
Q3 EPS of $0.12 and revenues of $603 million bested analysts'
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and
iShares Dow Jones US Healthcare (IYH) are pointing to a firmer
start. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also
In sector news, Curis, Inc. (CRIS) is down more than 18% after
the company said its Phase 1 study of the investigational cancer
treatment, CUDC-427, has been placed on partial clinical hold by
the U.S. Food and Drug Administration (FDA) following the report of
a death of a patient who progressed to liver failure approximately
one month following the discontinuation of CUDC-427 dosing.
The company also reported Q3 loss of $0.02 per share on revenue
of $7.2 million - which fell short of the Capital IQ consensus
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