Active broad-market exchange-traded funds in Friday's
SPDR S&P 500 ETF Trust (
iPath S&P 500 VIX ST Futures ETN (
iShares MSCI Emerging Index Fund (
iShares Russell 2000 Index Fund (
Market Vectors Gold Miners ETF (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV,
were mixed in Friday's pre-market trading. Actively traded
PowerShares QQQ (QQQ) was up 0.43%.
Meanwhile, U.S. stock futures are looking to open higher,
recovering from Thursday's sharp losses which were spurred by
renewed tensions on the Ukraine and Russian border following the
downing of a Malaysian airlines passenger jet. Earnings news were
in focus, with General Electric (GE) reporting as-expected Q2
results, while M&A news - particularly, the AbbVie (ABBV) and
Shire (SHPG) deal for a $54.8 billion merger - were also helping
lift market sentiment.
Still ahead, the University of Michigan preliminary consumer
sentiment index for July will be reported at 9:55 am ET, while the
Conference Board's index of leading indicators for June will be
released at 10 am ET.
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) 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.
RealPage (RP) tumbled nearly 25% after it announced preliminary
non-GAAP total revenue and adjusted EBITDA results for Q2, with
revised guidance based on lower-than-expected revenue from products
and services related to leasing activity. The property management
solutions provider expects non-GAAP total revenue of $93.8 million
to $94.8 million for the quarter and adjusted EBITDA of $11.5
million to $12.5 million. Analysts had predicted total revenue of
$107.19 million for the quarter and EBITDA of $25 million.
Winners and Losers
Select Financial Sector SPDRs (XLF) was flat; Direxion Daily
Financial Bull 3X shares (FAS) was up 1.05% while Direxion Daily
Financial Bear 3X shares (FAZ) was down 0.84%.
Bank Of New York Mellon (BK) was down 0.26% after it reported Q2
EPS of $0.62 per diluted common share, up from $0.60 in Q2 2013 and
beating analyst estimates of $0.56. Total revenue of $3.72 billion
was down from $3.80 billion in Q2 2013 and missed analyst
projections of $3.77 billion.
Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select
Sector SPDR (XLE) was down 0.22%.
Key Energy Services (KEG) was down 11.47% after it said it
expects to report a Q2 loss on lower consolidated revenue as
production-driven businesses outside of California did not see
sufficient activity increases to offset lower activity in
California. The onshore rig-based well servicing contractor said it
expects to report a loss between $0.14 to $0.15 per share,
excluding goodwill and asset impairments, compared to the breakeven
expected by analysts polled by Capital IQ. Including $30 million to
$35 million in estimated goodwill and other assets impairments
pre-tax charges related to its operations in Russia the loss is
expected to be between $0.35 and $0.38.
Meanwhile, Key Energy said that in Q2 it has incurred pre-tax
expenses of approximately $5 million in connection with the
previously disclosed Foreign Corrupt Practices Act investigations;
redeployment and make-ready pre-tax costs of approximately $2
million in association with the previously disclosed movement of
rigs from Mexico to the U.S.; and pre-tax severance costs of
approximately $1 million, in association with headcount reductions,
primarily in Mexico.
Crude was down 0.16%; United States Oil Fund (USO) was up 0.21%.
Natural gas was up 0.03% and United States Natural Gas Fund (UNG)
was down 0.32%.
Gold was down 0.58%, and silver was down 0.87%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 0.88% and iShares Silver
Trust (SLV) was down 1.13%.
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 0.74%.
Regeneron Pharmaceuticals (REGN) said that in the Phase 3
VIVID-DME trial of EYLEA injection for the treatment of diabetic
macular edema participants showed a sustained improvement from
baseline in best-corrected visual acuity, the primary endpoint, at
week 100, compared to laser photocoagulation.
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
Johnson Controls (JCI), which provides thermostat technology,
reported Q3 earnings beat the Street view, while revenue met
expectations. Johnson Controls had earnings of $0.84 per share and
Q3 revenue of $10.8 billion, versus the Street view of $0.83 per
share and $10.8 billion in revenue according to Capital IQ
estimates. JCI shares were down 1.76%.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.