Active broad-market exchange-traded funds in Thursday's regular
Select Sector Financial SPDR Fund (
): -1.5%, but near its 52-week highs
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
): +5% from near 52 week lows.
Direxion Daily Gold Miners Bull 3X Shares (
PowerShares QQQ Trust, Series 1 (
Winners and Losers
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were mixed to slightly lower. Actively traded PowerShares
) was down 0.09%.
U.S. stock futures are pointing to a slightly firmer open after
Thursday's sell-off triggered by fears the U.S. Federal Reserve
will begin to withdraw economic stimulus and disappointing results
from some index heavyweights, such as Wal-Mart (WMT). Investors
will also be digesting mixed economic data this morning. Housing
starts were worse-than-expected, rising 896,000 compared with the
consensus for 900,000, while non-farm productivity beat forecasts
with a 0.9% gain.
Winners and Losers
Select Financial Sector SPDRs (
) is flat, but near its 52-week highs. Direxion Daily Financial
Bull 3X shares (FAS) is edging higher after a 4.7% drop on
Thursday. Its bearish counterpart, FAZ, is also marginally in the
Among financial stocks, E-House Holdings Limited (EJ) is up 4%
after Q2 earnings topped estimates. The company reported Q2
non-GAAP net income of $15.3 million, or $0.11 per share, on
revenues of $163.4 million. Analysts expected EPS of $0.06 and
revenues of $136 million. The company raised its fiscal 2013 total
revenue guidance to approximately $630 million from the guided
amount of approximately $600 million.
Technology Select Sector SPDR ETF (XLK) is up 0.16%; 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 declining
, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index
Fund (SOXX) are also unchanged after losing 1.9% and 2.1%
respectively in Thursday's session.
SPDR S&P International Technology Sector ETF (IPK) is
In sector news, Dell (DELL) shares are up 0.2% at $13.73 as Carl
Icahn and Michael Dell ready for a court hearing to determine
whether to fast-track Icahn's lawsuit for control of the firm. Last
night Dell reported a Q2 EPS of $0.25, up from the $0.24 per share
analysts expected. Revenue was $14.5 billion versus the analyst
estimate of $14.2 billion.
Dow Jones U.S. Energy Fund (IYE) is flat after closing down 0.6%
and Energy Select Sector SPDR (XLE) has dipped 0.13%.
In sector news, InterOil (IOC) is lower in pre-market trade amid
worries that talks to sell assets, including its Elk and Antelope
fields, to ExxonMobile (XOM) may fall apart, reports suggested.
Crude was up 0.2% while United States Oil Fund (USO) is flat;
natural gas is down 1.18% while United States Natural Gas Fund
(UNG) is unchanged after a 2% gain Thursday.
Gold was up 0.48% and silver was up 0.35%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.25%; iShares Silver Trust
(SLV) is leaning slightly higher. Direxion Daily Gold Miners (
) is adding to gains, up 0.2% after a 13% bounce on Thursday.
Health Care SPDR (XLV); Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are all unchanged after heavy
losses Thursday. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is also flat.
In corporate news, shares in Merrimack Pharmaceuticals (MACK)
are up more than 26% pre-market, bouncing off a 52-week low set on
Thursday, possibly helped by a positive Seeking Alpha report. The
contributor said that if results from drug trials currently
underway are positive, there is considerable scope for the company
to be revalued. It also said it's likely to be bought by a larger
Consumer Staples Select Sector SPDR (XLP) and other consumer
ETFs iShares Dow Jones US Consumer Goods (IYK) and Vanguard
Consumer Staples ETF (VDC) are flat, again after recording losses
on Thursday on the back of mixed corporate results.
J.C. Penney (JCP) and Bill Ackman, the company's largest
investor, agreed that Ackman may make up to four requests to sell
some of his stake. The rights granted to Ackman under the Aug. 13
agreement end when he and his funds own less than 5% of the
retailer's stock, according to a regulatory filing. The shares are
down 1.5% pre-market.
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