Active broad market exchange-traded funds in Friday's regular
SPDR S&P 500 (
iShares S&P 500 (
PowerShares QQQ (
iShares Russell 2000 (
iShares Russell 1000 Growth (
iShares MSCI Emerging Markets Index (EEM): +0.23%
United States Oil Fund (USO): -0.97%
SPDR Gold Shares (GLD): -0.34%
Select Financial Sector SPDRS (XLF): +0.28%
Pre-Market Most Active:
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were weaker. Actively traded PowerShares QQQ (
) was down 0.13%.
U.S. stock futures slipped into the negative territory ahead of
Monday's open, erasing Friday's gains, with U.S. federal spending
cuts taking effect after a deadlock in Washington failed to avert
Analysts now say the sequester cuts have shaved off GDP
forecasts and have further sparked the risk aversion in the
markets, according to a report on MarketWatch. With no significant
economic data to be released today, investors have turned their
attention to news overseas, particularly from Beijing, as mainland
Chinese stocks plunged after the government said it will tighten
regulatory measures to control the sharp rise in real estate
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.23%. Direxion
Daily Financial Bull 3X shares (FAS) was down 0.40%. Its bearish
counterpart, FAZ, was up 0.59%.
Among financial stocks, KKR (KKR) could see some upside movement
this morning, after the WSJ reported KT&G Corp. is considering
a bid that could be worth up to $3 billion for the company's
Oriental Brewery Co.
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 leaning higher.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) looks to open in the
SPDR S&P International Technology Sector ETF (IPK) was
headed for a flat to higher open.
In sector news, Cellcom Israel (CEL) was up 1.25% after the
company reported Q4 earnings of ILS 1.14 or $0.31 per share, ex
one-time items, versus the single analyst estimate on Capital IQ of
ILS 0.84 or $0.22. Revenues were ILS 1.41 or $377 mln, versus the
single analyst estimate of ILS 1.39 bln or $372.25 mln. The company
said that for Q1, it continues to expect "further erosion in
revenues ... which will lead to further erosion of
The company also stated that its board of directors has opted
not to distribute a dividend for Q4, saying it needs to further
strengthen the company's balance sheet due to market uncertainty.
The board will reevaluate this decision in the coming quarters as
market conditions develop.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) look to open lower.
In sector news, Patterson-UTI Energy, Inc. (PTEN) reported that
for the month of February 2013, it had an average of 201 drilling
rigs operating, including 189 rigs in the United States and 12 rigs
in Canada. For the two months ended February 28, 2013, it had an
average of 199 drilling rigs operating, including 188 rigs in the
United States and 11 rigs in Canada. Average drilling rigs
operating reported in the company's monthly announcements represent
the average number of its drilling rigs that were operating under a
April crude is up 0.10%; May natural gas was down 0.37%. United
States Oil Fund (USO) was down 0.18%. United States Natural Gas
Fund (UNG) was down 0.58%.
April gold was up 0.38% and silver for May delivery was up
0.74%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.27%;
iShares Silver Trust (SLV) was up 0.36%.
Among stocks, Hecla Mining Company (HL) was down 8.62% after
announcing that it has entered into a definitive arrangement
agreement with Aurizon Mines Ltd. (AZK) pursuant to which Hecla
will acquire all of the issued and outstanding common shares of
Aurizon in a transaction with a total value of approximately C$796
Hecla will acquire all of the outstanding common shares of
Aurizon for C$4.75 per share. Each holder of Aurizon common shares
may elect to receive either C$4.75 in cash or 0.9953 of a Hecla
share. AZK shares are up 7.82%.
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, Arena Pharmaceuticals (ARNA) was down 2.40%
after it reported a Q4 loss of $0.10 per share, ex one-time items,
versus the Capital IQ consensus of $0.05 loss per share. Revenues
were $1.9 mln, down 9.5% year-over-year, versus the analyst
estimate of $49.72 mln.
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 higher start.
In sector news, Tesla Motors (TSLA) was down 1.18% after it
today said it was unable to timely file its Annual Report on Form
10-K for the year ended December 31, 2012 because a probable error
in the presentation of certain non-cash items relating to capital
expenditures on its consolidated statements of cash flows was
identified during the final review of the Form 10-K.
The company said it believes that some unpaid capital
expenditures in 2011 and 2012 would be more accurately classified
as operating activities, rather than investing activities.
Power Play -
Industrial ETFs were lower: Vanguard Industrials (VIS), down
0.16%; iShares Trust Dow Jones U.S. Industrial Sector Index Fund
(IYJ), and Select Sector SPDR-Industrial (XLI) are expected to open
Among stocks, Ferro Corporation (FOE) was up 27.88% after
Schulman (SHLM) proposed to acquire all of the outstanding shares
of FOE's common stock for $6.50 per share, representing an
estimated total enterprise value of about $855 million including
total indebtedness. The offer represents a 25% premium over the
closing price of FOE common stock on March 1, 2013, and a 32%
premium over the volume-weighted average trading price over the
preceding 60-day period. SHLM shares are currently flat.
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