Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 ETF Trust (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
Select Financial Sector SPDRs (
Market Vectors Gold Miners (
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others, are mostly lower. Actively traded PowerShares QQQ (QQQ)
is flat after falling almost 2% on Tuesday.
U.S. stock futures are little changed with the prospects of U.S.
military action against Syria continuing to weigh on sentiment. The
S&P 500 Index slid to its lowest level since July 3 on Tuesday
on concern over intervention, which also pushed up the price of
oil. Gold benefited as investors sought a safe-haven investment.
Amid economic data, a report at 10 a.m. New York time may show
pending home sales were unchanged in July, according to a Bloomberg
survey, after a 0.4% drop in June.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.1%. Direxion Daily Financial Bull 3X shares (FAS) was
down 0.27%. Its bearish counterpart, FAZ, was up 0.15%.
Among financial stocks, Cash America International, Inc. (CSH)
has signed an asset purchase agreement for the acquisition of
substantially all of the assets of a chain of 34 pawn lending
locations for about $62 million. When completed, the transaction
will add 31 pawn lending locations in Georgia and 3 locations in
North Carolina, which will expand Cash America's presence in both
markets. The stores are currently owned by PawnMart, Inc. and
operate primarily under the PawnMart brand in both markets. The
stock is unchanged pre-bell.
Dow Jones U.S. Energy Fund (IYE) is unchanged, while the Energy
Select Sector SPDR (XLE) is up 0.12%. Both are still at the high
end of their 52 week ranges.
In sector news, analysts at FBR Capital have resumed coverage of
Arch Coal Inc. (ACI) with anOutperform rating. The firm set its
price target on the stock at $6 a share. ACI is up 0.65% to $4.65
in the pre-market hours, but remain in the low end of a 52-week
range of $3.47 - $8.86.
Crude was up 1.44%, climbing to its highest levels in two years
amid concern unrest in the Middle East will disrupt oil supplies;
United States Oil Fund (USO) was up 1.34% and has hit new 52 week
highs. Natural gas is down 0.3% and United States Natural Gas Fund
(UNG) was down 0.48%.
Gold was up 0.5%; SPDR Gold Trust (GLD) was up 0.99%; silver
prices were up 0.85%, and iShares Silver Trust (SLV) was up
Consumer Staples Select Sector SPDR (XLP) was down 0.45%; other
consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and
Vanguard Consumer Staples ETF (VDC) are all unchanged after dipping
In sector news, Zale (ZLC) reported a Q4 loss of $0.25 per
share, versus the Capital IQ consensus of $0.33 loss per share.
Revenues were $417.1 million, versus the analyst estimate of
$407.88 million. Comparable store sales in the quarter increased
5.6%. In the same period last year, the company reported EPS of
$0.61 on revenues of $407 million. The shares are up 9.3%
Technology Select Sector SPDR ETF (XLK) was down 1.4%. iShares
Dow Jones US Technology ETF (IYW) and iShares S&P North
American Technology ETF (IGM) and iShares S&P North American
Technology-Software Index (IGV) are so far unchanged after all
posting losses of about 2% on Tuesday.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) and SPDR S&P
International Technology Sector ETF (IPK) were also flat after
steep losses in yesterday's session.
In sector news, AutoNavi (AMAP), a Chinese provider of digital
maps, posted Q2 revenue and earnings that fell short of
expectations and said its previous guidance is no longer a good
indicator of the value of its business as it shifts its focus
towards mobile apps. Net revenues in the second quarter of 2013
were $38.2 million, compared to $40.2 million in the second quarter
of 2012 and below consensus forecasts for $42.7 million, according
to Capital IQ. The shares have crashed 16% pre-bell.
Health Care SPDR (XLV) was down 1.4%; Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) were flat after
closing lower Tuesday. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB), was down 0.38%.
In corporate news, Endo Health Solutions (ENDP) said Wednesday
that its Qualitest subsidiary has acquired privately held Boca
Pharmacal, a specialty generics company, for $225 million in
Boca Pharmacal focuses on niche areas, commercializing and
developing products in categories that include: controlled
substances, semisolids, and solutions.
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