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): +1.9%
United States Oil Fund (USO): -0.16%
SPDR Gold Shares (GLD): +0.07%
Select Financial Sector SPDRS (XLF): +0.51%
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
slipped lower. Actively traded PowerShares QQQ (
) was down 0.04%.
U.S. futures were weaker after the revised Q4 gross domestic
product report that showed an expansion of the U.S. economy at a
pace of 2.4% annually. The report attributed the reading to
consumers scaling back their spending. The revised GDP, however,
met forecasts. Still ahead, the Chicago purchasing managers index
is due at 9:45 am ET; the University of Michigan consumer-sentiment
survey will be released 9:55 am ET, and pending-home sales for
January will be reported at 10 am ET.
Power Play: Healthcare
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) were unchanged. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) was also flat.
In corporate news, Ampio Pharmaceuticals (AMPE) was down 8%
after the biopharmaceutical company priced a public offering of 8.5
million shares at $7 per share, a 12% discount to the stock's
Thursday closing price. Net proceeds of the offering are expected
to be approximately $55 million. The company intends to use the net
proceeds for working capital and for general corporate purposes.
Ampio also granted the underwriters a 30-day option to purchase up
to an additional nearly 1.3 million shares of common stock. The
offering is expected to close on or about March 5.
Winners and Losers
Select Financial Sector SPDRs (XLF) was flat. Direxion Daily
Financial Bull 3X shares (FAS) was down 0.17%. Its bearish
counterpart, FAZ, was up 0.09%.
Among financial stocks, State Street Corporation (STT) has been
downgraded by analysts at RBC Capital Markets to a Sector Perform
rating form Outperform. The firm also lowered its price target on
the stock to $68 from $75 a share.
RBC Capital also downgraded State Street from Outperform to
Sector Perform with a price target of $68.00 (from $75.00).
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 flat. SPDR S&P International Technology Sector ETF
(IPK) was also quiet in pre-market.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were flat as well.
In stocks news, OmniVision Technologies, Inc. (OVTI) was up
14.20% in pre-market trading after the company issued earnings
guidance that beat out analyst expectations. For Q4, OVTI is
forecasting EPS of $0.19 to $0.35 on revenue of $275 million to
$305 million, compared to analysts predictions of $0.22 per share
earnings on revenue of $284.3 million.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were both unchanged pre-bell.
In corporate news, Noble Corporation (NE) are down 0.6% after
the company said that one of its semisubmersible rigs off the coast
of Brazil has experienced a "ballast control" incident, forcing the
evacuation of 77 non-essential staff. Noble said the well has been
secured and measures are underway to resolve the matter. No
pollution has been reported, it said.
Crude was down 0.18%; United States Oil Fund (USO) was down
0.03%. Natural gas was high 0.44% and United States Natural Gas
Fund (UNG) was up 1.45%.
Gold and silver both rose in pre-market trading, up 0.07% and
0.27% respectively. Among rare metal funds, SPDR Gold Trust (GLD)
was up 0.20% and iShares Silver Trust (SLV) was up 0.15%.
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK)
were unchanged pre-market after a higher session Tuesday.
Among stocks, Liberty Media (LMCA), which bought a controlling
interest in radio station SiriusXM in January 2013, was up 0.74%
after it said the acquisition boosted Q4 operating income to $189
million from a loss of $60 million in the year-ago period. GAAP net
income fell to $56.1 million from $156.2 million. Liberty Media's
revenue increased to $1.0 billion from $44 million a year ago and
was in line with analysts' forecasts.
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