Active broad-market exchange-traded funds at the close of
Tuesday's regular session:
SPDR S&P 500 (
iShares S&P 500 (
PowerShares QQQ (
iShares Russell 2000 (
iShares Russell 1000 Growth (
iShares MSCI Emerging Markets Index (EEM): +0.11%
United States Oil Fund (USO): -0.64%
SPDR Gold Shares (GLD): +0.02%
Select Financial Sector SPDRS (XLF): +0.22%
Wednesday's Pre-Market Movers
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV,
were higher in Wednesday's
. Actively traded PowerShares QQQ (
) was up 0.4%.
U.S. stock futures were higher ahead of Wednesday's open. The
U.S. Commerce Department's reported overall retail sales for July
were unchanged from the prior month. The data missed expectations
for an increase of 0.2%. Excluding autos, retail sales rose 0.1% in
Investors will also focus on speeches by Federal Reserve
speakers: New York Federal Reserve President William Dudley and
Boston Fed President Eric Rosengren will speak at 9:05 a.m. ET and
9:25 a.m. ET, respectively. Also on the calendar, U.S. business
inventory data for June will be released at 10 am ET.
Power Play: Health Care
Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH)
and Vanguard Health Care ETF (VHT) were unchanged. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) was up 0.6%.
Rigel Pharmaceuticals (RIGL) was down 10% after announcing R348,
its ophthalmic JAK/SYK inhibitor, didn't meet the primary or
secondary endpoints in a recently completed Phase 2 clinical study
in patients with dry eye disease. RIGL has decided not to initiate
any new studies of R348 for this indication, but is continuing its
Phase 2 study of dry eye in patients with graft versus host disease
(GvHD). It also said it discontinued its indirect AMPK activator
program, R118, due to its side-effect profile in Phase 1 clinical
trials. However, the company will continue its direct AMPK
activator research program.
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.45%; Direxion Daily
Financial Bull 3X shares (FAS) was up 0.7% and its bearish
counterpart, Direxion Daily Financial Bear 3X shares (FAZ), was
Ares Management (ARES) reported Q2 earnings of $0.33 per share
and revenue of $131.6 million, which was up 47% from a year prior.
ARES was steady at $17.99 in pre-market trading.
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) were inactive. SPDR S&P International Technology Sector
ETF (IPK) was also flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were unchanged after posting
losses in the previous session.
King Digital Entertainment (KING) was down 23% after saying Q2
non-GAAP EPS were $0.59, meeting the Thomson Reuters mean. Sales
were about $594 million, missing estimates for $608.35 million. It
lowered its FY outlook, now expecting Q3 gross bookings to decline
sequentially to $500 million to $525 million. Q4 gross bookings are
seen up from Q3.
It approved a special dividend to shareholders in the aggregate
amount of $150 million to be payable to shareholders of record on
September 30. This represents a dividend of approximately $0.469
per ordinary share (based on shares outstanding as of August 12).
It also said its executive officers, directors, founders, and
affiliated funds, including Bellaria Holding S.a.r.l of whom Apax
WW Nominees Ltd is the sole shareholder, together representing 80%
of outstanding shares, have agreed to a new lock up through the
date following the company's announcement of Q4 and 2014
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were both flat in pre-market trading.
InterOil (IOC) reported a Q2 loss that was the same as a year
ago after the sale of its refinery and downstream businesses to
Puma Energy. The oil and gas production and exploration company
said its loss from continuing operations was flat at $0.31 per
share. On a reported basis, net income was $52.3 million or $1.05
per diluted share, up from $13.2 million, or $0.27 per share a year
earlier, boosted by a gain on the downstream businesses.
Crude was up 0.11%; natural gas was down 2.3%. United States Oil
Fund (USO) was up 0.3%; United States Natural Gas Fund (UNG) was up
Gold was up 0.3%, and silver was up 0.6%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.2% and iShares Silver Trust
(SLV) was up 0.3%.
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
Retail ETFs SPDR S&P Retail (XRT), PowerShares Dynamic
Retail (PMR), and Market Vectors Retail ETF (RTH) were also
Macy's (M) was down some 5% after it said it earned $0.80 per
share in Q2, missing the Thomson Reuters mean for $0.86. Sales were
$6.267 billion, compared with estimates for $6.30157 billion. The
company's second half same-store sales growth is seen 2% to 3%,
with FY same-store sales growing 1.5% to 2%. FY comparable sales
together with comparable sales of departments licensed to third
parties now are expected to increase by 2% to 2.5%. Previous
guidance was for full-year comparable sales to increase by 2.5% to
3%. The company continues to expect full-year 2014 earnings per
diluted share in the range of $4.40 to $4.50, consistent with
guidance previously provided. The Street consensus was for EPS of