Active broad-market exchange-traded funds at the close of
Monday'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): +0.14%
United States Oil Fund (USO): -0.40%
SPDR Gold Shares (GLD): +0.99%
Select Financial Sector SPDRS (XLF): +0.42%
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others are inching higher. Actively traded PowerShares QQQ (
) is up 0.06%, nearing the 52-week high it hit the prior
U.S. stock futures are also looking to open Tuesday's session
with modest gains, as concerns over the possible tapering of the
Federal Reserve's bond buying program continue to rattle market
sentiment. Investors will be looking ahead to two economic reports
to be released today - the October wholesale inventories report and
the October JOLTS - Jobs Openings report, both due at 10:00 am
Power Play: Technology
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) all reached new 52-week highs in the previous session.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) closed the previous session
in the green. SPDR S&P International Technology Sector ETF
(IPK) was also higher.
Among stocks, Nokia (NOK) is down 2.25% in pre-market as the
Wall Street Journal reports the company's tax liabilities in India
could be far higher than expected. Citing an Indian income tax
official, the article says the Finnish company's back tax bill
could balloon to $3.4 billion from the current $340 million. Nokia
had previously said it planned to propose setting aside more than
$350 million to unfreeze its Indian assets so the company can close
the sale of its handset business to Microsoft (MSFT).
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.47%. Direxion Daily
Financial Bull 3X shares (FAS) is up 1.24% and its bearish
counterpart, FAZ is down 0.17%.
In sector news, title insurance and transaction services
provider Fidelity National Financial Inc. (FNF) is up 0.81% after
it said it is exploring strategic alternatives for its portfolio
company investments, potentially including a tracking stock,
spinoffs, sales and other potential moves. The company retained
J.P. Morgan Securities LLC to advise it as it explores the
strategic alternatives. Fidelity National said goal of the effort
is "to both monetize and highlight the value of FNF's portfolio
investments for the benefit of its shareholders."
Dow Jones U.S. Energy Fund (IYE) is flat in pre-market trading
while Energy Select Sector SPDR (XLE) is down 0.75%.
In sector news, Talisman Energy Inc. (TLM.TO, TLM) announced
that two of its affiliates have reached agreement to sell their
approximately 12% equity interest in the Ocensa Pipeline in
Colombia to an investment group led by Advent International for a
total cash consideration of approximately $595 million.
January crude is up 1.31%; United States Oil Fund (USO) is up
1.17%. January natural gas is up 1.04%, and United States Natural
Gas Fund (UNG) is up 0.92%.
February gold is up 1.17%, and SPDR Gold Trust (GLD) is up
0.61%. March silver is up 1.85%; iShares Silver Trust (SLV) is up
1.20% this morning.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are flat pre-market. All were
firmer in the previous session, and were near their 52-week highs.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) closed
Monday's session in the red.
Among stocks, Navidea Biopharmaceuticals (NAVB) rose nearly 26%
in pre-market trade after saying that the U.S. Food and Drug
Administration has granted Fast Track designation to its head and
neck cancer Lymphoseek diagnostic tool. Lymposeek is an injection
that detects lymph nodes in patients with head and neck cancer. The
Fast Track program is designed to facilitate the development and
expedite the review of drug candidates intended to treat serious or
life-threatening conditions, and that demonstrate the potential to
address unmet medical needs. Navidea said it plans to file a
supplemental New Drug Application for Lymposeek before year
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK)
were at or near 52-week highs in Monday's session, but are
unchanged so far in pre-market trading.
Among retail funds, SPDR S&P Retail (XRT), PowerShares
Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH), are all
quiet after seeing weakness in the previous session.
In stocks news, lululemon athletica (LULU) is up 2.36% after
appointing Laurent Potdevin as the company's Chief Executive
Officer and a member of its Board of Directors. Potdevin will
succeed Christine Day, who has served as the company's CEO since
2008 and who announced her intention to resign in June 2013.
Potdevin is expected to step into his role as CEO in January 2014,
and will become a director when he assumes his duties as CEO. Ms.
Day is expected to remain with lululemon through the end of the
company's fiscal year. In addition, Chip Wilson, lululemon's
founder and the Chairman of its Board of Directors, informed the
Board he is resigning from the position of non-executive Chairman.
Wilson will step down from the role effective prior to the
company's annual meeting in June 2014. The Board has selected
Michael Casey, Lead Director of the Board, as the next Chairman of
the Board. Casey is expected to assume this role upon Wilson's
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