Active broad-market exchange-traded funds in Wednesday's regular
SPDR S&P 500 (
iPath S&P Vix Short Term Futures (
iShares MSCI Emerging Markets Index (
iShares MSCI Japan Index Fund (
Select Sector SPDR Fund Financial (
Most Active Pre-Market
XLF - 1.3%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are pointing to a lower start, with emerging markets funds
posting sharp losses following weak manufacturing data from China.
Actively traded PowerShares QQQ (QQQ) was down 1.1%.
U.S. markets look set to extend Wednesday's sell off following
sharp losses in global markets, with the U.K's FTSE 100 Index down
more than 2% and Germany's DAX off by about the same amount.
Investors were rattled by comments from Federal Reserve Chairman
Ben Bernanke on Wednesday indicating the U.S. would stop stimulus
measures towards the end of this year as long as the economy
continues to improve.
Winners and Losers
Select Financial Sector SPDRs (
); Direxion Daily Financial Bull 3X shares (FAS) look set to extend
Wednesday's losses, while its bearish counterpart, FAZ is set to
In company news, shares in Ebix Inc (EBIX) are slumping 39%
before the bell, adding to after-hours losses of some 25%, after it
and an affiliate of Goldman Sachs (GS) called off their merger
because U.S. regulators have started a probe into allegations of
misconduct at Ebix.
Technology Select Sector SPDR ETF (XLK) was down 1.1%. Other
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 all pointing lower.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 1%. Semiconductor Sector Index Fund (SOXX) is off 1.1% after
setting a 52-week high $65.55 on Wednesday.
SPDR S&P International Technology Sector ETF (IPK) is
In company news, Cisco (CSCO) has inked a deal to acquire
Composite Software for $180 million. The shares are down 0.3% in
Select Sector SPDR-Industrial (XLI) was down 1.5%; Vanguard
Industrials (VIS) is down 1.3% and iShares Trust Dow Jones U.S.
Industrial Sector Index Fund (IYJ) is down 1.4%.
United Technologies (UTX) Pratt & Whitney unit has announced
1,000 engine orders, including options, taking total orders to more
than 4,500 from more than 40 customers around the world.
The orders, announced at the Paris Air Show, include the
company's new PurePower, IAE V2500 and Pratt & Whitney PW4000
engines. UTX is down 0.7% pre-market.
Dow Jones U.S. Energy Fund (IYE) is down 0.9% and Energy Select
Sector SPDR (XLE) is off 0.9%.
In energy news, FuelCell Energy (FCEL) has priced its senior
convertible notes offering of $38 million principal amount of its
8.00% senior unsecured convertible notes due June 15, 2018.
The notes are convertible into shares of FuelCell Energy common
stock at a conversion rate of 645.1613 shares of common stock per
$1,000 principal amount of convertible notes, equivalent to a
conversion price of $1.55 per share of common stock. FCEL is flat
at $1.36 in pre-market.
Health Care SPDR (XLV) was down 1.59%; Vanguard Health Care ETF
(VHT) is off 1.5% and iShares Dow Jones US Healthcare (IYH) is down
1.59%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was
GlaxoSmithKline (GSK) is investing 17.5 million euros ($23.5
million) in a new venture fund led by French firm Kurma Life
Sciences Partners to invest in drugs for rare diseases, reports
Shares are currently down 2.2%.
Consumer Staples Select Sector SPDR (XLP) was down almost 2%;
consumer ETFs iShares Dow Jones US Consumer Goods (IYK) and
Vanguard Consumer Staples ETF (VDC) are also lower.
In consumer news, Pier 1 Imports (PIR) reports Q1 EPS of $0.19,
in line with the analyst consensus on Capital IQ. Sales were $394.8
million, matching expectations. For FY 2014, the company expects
comp store sales growth in the mid-single-digit range and EPS of
$1.27 to $1.32, up from prior guidance of $1.26 to $1.31 per share.
The analyst view is $1.32 per share. PIR is up 0.04% in pre-market
Crude oil prices are down 1.3% at $96.92 a barrel. United States
Oil Fund (USO) is pointing lower.
Natural gas is down 1.6%. United States Natural Gas Fund (UNG)
is also pointing to a drop.
Gold has slumped 5.5%. Silver is down more than 7%. Among rare
metal funds, SPDR Gold Trust (GLD) and iShares Silver Trust (SLV)
are set to decline following the slumping prices in the underlying