Active broad-market exchange-traded funds at the close of
Thursday'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): +0.82%
United States Oil Fund (USO): +0.63%
SPDR Gold Shares (GLD): -2.21%
Select Financial Sector SPDRS (XLF): +1.43%
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
are weaker ahead of Friday's open. Actively traded PowerShares QQQ
) was down 0.99%.
Most U.S. stock futures were also slipping into the red as
investors digested the latest economic data released Friday as well
as a number of disappointing earnings. The Commerce Department
reported that consumer spending rose 0.4% in December after an
upwardly revised 0.6% gain in November. Personal income, however,
remained unchanged. Meanwhile, the Q4 Employment Cost Index rose
0.5%, higher than the forecasted 0.4% gain. Among earnings losers
were Mattel (MAT), Amazon (AMZN) and MasterCard (MA).
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) are quiet in pre-market trading. Likewise, SPDR S&P
International Technology Sector ETF (IPK) remains flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) are unchanged.
In sector news, Google (GOOG) was up 4% after it reported late
Thursday Q4 revenue of $16.86 billion, up 17% from Q4 last year.
The result included Traffic Acquisition Costs (TAC) of $3.31
billion. The analyst consensus on Capital IQ called for revenue of
$16.75 bln, generally an ex TAC number. Non-GAAP EPS was $12.01 per
share, up from $10.65 per share last year and below the analyst
consensus of $12.29 per share on Capital IQ.
Winners and Losers
Select Financial Sector SPDRs (XLF) is down 1.22%. Direxion
Daily Financial Bull 3X shares (FAS) is down 4.50% and its bearish
counterpart, FAZ is up 4.52%.
In sector news, MasterCard (MA) was down 7.5% after it posted Q4
net income of $623 million, or $0.52 per share, up from $605
million, or $0.49 per share, with the per-share figures adjusted
for the stock's 10-for-one split. Adjusted earnings came in at
$0.57 per share for the latest quarter, up 16% from a year earlier.
Analysts polled by Capital IQ were looking for $5.97 per share
before the effect of the split; adjusting for the split, the
analyst consensus was $0.597. Revenue climbed 12% to $2.13 billion,
in line with the Street view for $2.1 billion. Adjusted for
currency, net revenue rose 11%.
Dow Jones U.S. Energy Fund (IYE) is flat while Select Sector
SPDR (XLE) is down 1.20% in pre-market trading.
In sector news, CONSOL Energy Inc. (CNX) reported Q4 earnings
from continuing operations of $0.64 per share, compared with the
prior-year period's $0.47 per share. Analysts polled by Capital IQ
were expecting EPS of $0.05, but it is not clear if this is
comparable. Revenues were $825.23 million, down from $934.81
million in the same quarter last year. The Street view is for
$962.78 million. The company said it expects Q1 gas production to
be around 47 - 49 Bcfe, while annual 2014 natural gas production is
expected to be 215 - 235 Bcfe. It also said it expects 2015 and
2016 annual gas production to grow by 30%.
March crude was down 1.06% while United States Oil Fund (USO) is
flat. March natural gas is down 2.22%; United States Natural Gas
Fund (UNG) is flat.
April gold is up 0.81%, and SPDR Gold Trust (GLD) is up 0.99%.
March silver is up 1.62%; iShares Silver Trust (SLV) is up 1.30%
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) are
Among stocks, Wal-Mart (WMT) was down 1.27% after it said it
expects underlying Q4 EPS at or slightly below the low end of its
guidance range of $1.60 to $1.70. For the full year 2014, it
expects underlying EPS at or below the low end of its guidance
range of $5.11 to $5.21 per share. The analyst consensus on Capital
IQ calls for Q4 earnings of $1.65 and earnings of $5.19 per share
for the year. The company had previously guided for Q3 EPS from
continuing operations of $1.50 to $1.60, which included a $0.10 per
share impact from two discrete items, which resulted in an
underlying EPS guidance range of $1.60 to $1.70. For the full year,
the company had previously said it expected to deliver EPS of $5.01
to $5.11 and accounting for the $0.10 of discrete items, the range
for underlying EPS was between $5.11 and $5.21.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are flat pre-market after
seeing gains in the previous session. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) is down 1.05%.
Among stocks, Actavis (ACT) was down 1.54% after it said it
expects to record revenue above $10 billion in 2014 and earnings
between $12.60 per share and $13.10 - "modestly above the high-end"
of the company's previous forecast. Analysts are expecting sales of
$10.49 billion and EPS of $12.89. The specialty pharmaceutical
company gave its outlook at an annual investor meeting in New York
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