ETF Preview: ETFs Wobble, Futures Dip Ahead of July New Home Sales, Jackson Hole Conference


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Active broad-market exchange-traded funds in Thursday's regular session:

SPDR S&P 500 ( SPY ): +0.91%

iShares S&P 500 ( IVV ): +0.91%

PowerShares QQQ ( QQQ ): +0.98%

iShares Russell 2000 ( IWM ): +1.44%

iShares Russell 1000 Growth ( IWF ): +0.93%

iShares MSCI Emerging Markets Index (EEM): +1.68%

United States Oil Fund (USO): +1.00%

SPDR Gold Shares (GLD): +0.56%

Select Financial Sector SPDRS (XLF): +0.81%

Pre-Market Most Active:

SPY, +0.06%

EEM, -0.09%

EWJ, -2.50%

VXX, -0.79%

GDX, -0.85%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are wobbling between positive and negative territories. Actively traded PowerShares QQQ ( QQQ ) is down 0.04%.

U.S. stock futures edged lower ahead of new home sales data for July, to be released at 10 am ET. Focus will be on the Federal Reserve's Jackson Hole conference in Jackson Hole, Wyoming - with investors looking for clues as tow ho will replace Fed Chairman Ben Bernanke. The top candidates for the post are Larry Summers or Fed Vice Chair Janet Yellen.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is leaning lower. Direxion Daily Financial Bull 3X shares (FAS) is down 1.49%. Its bearish counterpart, FAZ, is up 0.75%.

Among financial stocks, DFC Global (DLLR) reported late Thursday Q4 pro forma EPS of $0.49, beating the Capital IQ consensus estimate of $0.47. Revenues of $269.1 million however, missed the consensus of $283.08 million. The company projects adjusted EBITDA of between $200 million and $240 million.

Technology -

Tech ETFs 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 leaning higher.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) look to open in the green.

SPDR S&P International Technology Sector ETF (IPK) is headed for a flat to higher open.

In sector news, Pandora (P) reported late Thursday Q2 EPS of $0.04 on revenues of $162 million, vs. Capital IQ consensus of $0.02 on revenues of $155.6 million. For Q3, Pandora guides for revenues of $174 to $179 million and EPS of $0.03 - $0.06, vs. the Street view of $170.6 million in revenues and earnings of $0.08 per share. For FY 2014, the company guides for revenues of $640 million - $655 million and EPS of between breakeven and $0.05, vs. the Street view of $633 million in revs and earnings of $0.05.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are heading for a firmer start.

In sector news, Penn West Petroleum (PWE) said late Thursday that as part of the ongoing process to improve competitive performance, the company has further reduced its workforce to less than 1,600 full time equivalent employees. To date in 2013, the company has reduced total employee count by over 25% from approximately 2,150 full time employees at the beginning of the year and by 30% from approximately 2,250 in the fall of 2012. Penn West expects to record a charge related to employee separations of about $25 million in Q3 2013.

Commodities -

October crude is down 0.07%; November natural gas is down 0.19%. United States Oil Fund (USO) is up 0.29%. United States Natural Gas Fund (UNG) is up 0.29%.

December gold is up 0.15% and silver for September delivery is up 0.09%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.261%; iShares Silver Trust (SLV) is down 0.18%.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are pointing to a positive start. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also pointing higher.

In corporate news, Immunomedics (IMMU) reported a Q4 loss of $0.09 per share, narrower than the Capital IQ consensus estimate of $0.12 loss per share. Revenues of $1.36 million beat the consensus of $1.08 million. This compares with a loss per share of $0.10 on revenues of $963,000 in the same period last year.

Power Play -

Consumer -

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.

Retail ETFs SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH) are also leaning higher.

In sector news, Aeropostale (ARO) is down 14.39% in pre-market trading, sinking to a new 52-week low, after the company reported late Thursday earnings loss of $0.34 per share and revenue of $454.03 million, down 6% year-over-year. Analysts expected a loss of $0.25 on $454 million, according to Capital IQ estimates. For Q3, the company expects a loss in the range of $0.21 to $0.26 per share, vs. the analyst consensus of a profit of $0.26 per share, if comparable.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: IVV , IWF , IWM , QQQ , SPY

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