Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ( SPY ): -0.54%
iShares S&P 500 ( IVV ): -0.56%
PowerShares QQQ ( QQQ ): -0.49%
iShares Russell 2000 ( IWM ): -0.7%
iShares Russell 1000 Growth ( IWF ): flat
iShares MSCI Emerging Markets Index (EEM): -0.9%
United States Oil Fund (USO): -1.8%
SPDR Gold Shares (GLD): -5%
Select Financial Sector SPDRS (XLF): -0.2% in pre-market.
Pre-Market Most Active:
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are sharply lower. Actively traded PowerShares QQQ ( QQQ ) is down 0.4%.
U.S. stock futures are tracking commodities and
commodity-related currencies lower, following the report that
manufacturing activity in the New York region came in at a reading
of 3.1, down from the prior month's reading of 9.2 and missing
forecasts, according to a survey by Briefing.com. The news added
more pressure on market sentiment, which was already taking a
beating after China reported Q1 GDP growth of 7.7%, below
expectations for an 8% gain forecast. March industrial production
also missed a 10% gain forecast, increasing only 8.9% from the
Winners and Losers
Select Financial Sector SPDRs (XLF) is down 0.22%. Direxion
Daily Financial Bull 3X shares (FAS) is down 0.4%. Its bearish
counterpart, FAZ, is up 0.70%.
Among financial stocks, Citigroup (C) is up 2.08% after it
reported Q1 2013 EPS of $1.23; $1.29 excluding CVA/DVA, on revenues
of $20.5 billion; excluding CVA/DVA, revenues came in at $20.8
billion. Analysts were calling for $1.17 earnings per share on
$20.2 billion in revenue.
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 leaning lower.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) look to open in the red.
SPDR S&P International Technology Sector ETF (IPK) is headed
for a flat to lower open.
In sector news, DISH Network Corporation (DISH) has submitted a
merger proposal to Sprint Nextel Corporation (S) for a total
consideration of $25.5 billion, consisting of $17.3 billion in cash
and $8.2 billion in stock. Sprint shareholders would receive $7 per
share. This consists of $4.76 per share in cash and 0.05953 DISH
shares per Sprint share. DISH shares are down 1.67% while S shares
are up 15.11%.
Dow Jones U.S. Energy Fund (IYE) looks to open in the negative;
Energy Select Sector SPDR (XLE) is off 1.02%.
In sector news, Basic Energy Services, Inc. (BAS) reported
selected operating data for the month of March 2013. Well servicing
rig count remained unchanged at 425. Well servicing rig hours for
the month were 72,200 producing a rig utilization rate of 74%,
compared to 71% and 78% in February 2013 and March 2012,
Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) are pointing to a
negative start. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is also pointing lower.
In corporate news, Life Technologies (LIFE) is up 8%, pushing
past its 52-week high of $68.23, and is now at $73.45, after
announcing that it is being acquired by Thermo Fisher (TMO) for
$76.00 in cash, representing a 11.8% premium to LIFE's Friday
closing price, or for a total consideration of $11.48 billion. TMO
shares are up 3.51%.
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 lower start.
In sector news, Chipotle Mexican Grill (CMG) is up 1.82% after
shares were upgraded to Outperform from Neutral at Wedbush. UBS
also upgraded shares to Buy from Neutral.
Power Play -
Commodities continue to sink as market sentiment slumps
following disappointing data from China. Crude for May delivery is
down 1.84% at $89.61, but earlier slipped below $89. July natural
gas, however, is up 0.21% at $4.32, inching closer to its 52-week
high of $4.37. Among ETFs, United States Oil Fund (USO) is down
1.11%. United States Natural Gas Fund (UNG) is also lower, down
Gold for June delivery is now down 6.15% at $1409.10; silver is
down 9.44% at $23.85. Copper for June delivery is down 3.61% at
$3.23, just above its 52-week low of $3.19. Among rare metal funds,
SPDR Gold Trust (GLD) is down 5.31% at $136.30, falling below its
52-week low of $135.77. iShares Silver Trust (SLV) is down 7.67% at
$23.32, also below its 52-week low of $25.17.
In stocks news, Mechel OAO (MTL) is down 1.16% after it reported
that for Q4 FY12, revenues were $2.52 million, down 7% from $2.71
million in the same quarter last year. This was below the $2.58
million estimate of analysts polled by Capital IQ. Adjusted net
loss was $160,860, compared with $134,126 in the prior-year
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