Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iPath S&P 500 VIX Short Term Futures TM (
): +0.79%, still near 52-week low
PowerShares QQQ Trust, Series 1 (
): +0.05%, near year highs
iShares Russell 2000 Index (
iShares MSCI Emerging Markets Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mostly inching higher. Actively traded PowerShares QQQ
) is up 0.05% and near its 52-week high of $68.88.
U.S. stocks are little changed after investors showed subdued
interest in economic data that was released today. They instead
await a speech later this week from U.S. Federal Reserve Chairman
Ben Bernanke for clues as to when and how the Fed might move to
stimulate the U.S. economy. Investors are mildly disappointed that
European Central Bank President Mario Draghi will not attend the
Jackson Hole, Wyo. economic forum this week.
On the data front today, the International Council of Shopping
Centers (ICSC) - Goldman Same Stores Sales Index rose
week-over-week, versus a contraction from last week, while store
sales also grew year over year. However, Redbook data showed an
opposite trend, posting a decrease. Earlier, the
S&P/Case-Shiller index saw its strongest back-to-back monthly
increase according to Market Watch.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.03; Direxion Daily
Financial Bull 3X shares (FAS) is up 0.19%. Its bearish
counterpart, FAZ, is down 0.15%. SPDR KBW Regional Banking (KRE),
which tracks U.S.-listed regional banks, is up 0.6%.
In financial news, SeaBright Holdings, Inc. (SBX) is up 32% and
touched a new year high of $11.01, after it announced late
yesterday that it has entered into a definitive merger agreement
under which Enstar Group Limited (ESGR) will acquire SeaBright for
$11.11 per share in cash. ESGR is up 0.32%.
Tech ETFs are mixed: Technology Select Sector SPDR ETF (XLK),
was up 0.1% but is now down 0.2%; iShares Dow Jones US Technology
ETF (IYW), was up 0.29% but is now up 0.09%; iShares S&P North
American Technology ETF (IGM), up 0.26%; and iShares S&P North
American Technology-Software Index (IGV), up 026%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up
0.5% and Semiconductor Sector Index Fund (SOXX) is up 0.2%.
SPDR S&P International Technology Sector ETF (IPK) is up
Among tech stocks, Lexmark International (LXK) is up 16.5% after
it today announced restructuring actions which it says are expected
to result in annualized savings of $95 million once fully
implemented. The actions include closing the Cebu, Philippines,
inkjet supplies manufacturing facility by the end of 2015. The
actions also include eliminating inkjet development worldwide,
including costs related to facilities, tooling, equipment, contract
termination, and scrapping in process inventory, which are expected
to be principally complete by the end of 2013. These restructuring
actions are expected to result in the elimination of approximately
1,700 positions worldwide, including 1,100 manufacturing
Dow Jones U.S. Energy Fund (IYE) is up 0.02%; Energy Select
Sector SPDR (XLE) is down 0.14%.
Among stocks, Magellan Petroleum (MPET) continues to gain after
Stratex Oil & Gas offered to acquire the company for $2.30 per
share in cash and stock, according to a Dow Jones Newswire report.
Shares are up more than 30%, and nearing its 52-week high of
Crude was up around 0.5%. United States Oil Fund (USO) is up
0.5%. Natural gas was down near 0.6%. United States Natural Gas
Fund (UNG) is down 0.61%.
Gold was down 0.19%; silver was down 0.76%. Among rare metal
funds, SPDR Gold Trust (GLD) is up 0.15% while iShares Silver Trust
(SLV) is up 0.54%.
Healthcare and biotech ETFs are mostly firmer: Health Care SPDR
(XLV), was up 0.15% but is now slightly lower; iShares NASDAQ
Biotechnology Index (IBB), was up 0.27% but is now up 0.5%;
Vanguard Health Care ETF (VHT), was down 0.03% but is now up by as
much and still near its 52-week high of $70.53; and iShares Dow
Jones US Healthcare (IYH), was up 0.09%. Is still up 0.02% and near
its year high of $81.55.
Depomed, Inc. (DEPO) is up more than 2%, trimming earlier gains
of some 6%, after the company announced late Tuesday that Janssen
Pharmaceuticals, Inc., has licensed rights to Depomed's Acuform
gastric retentive drug delivery technology. Under the terms of the
agreement Janssen received a non-exclusive license and other rights
to certain Acuform patents. In exchange, Depomed will receive an
upfront payment of $10 million and will receive a low single digit
royalty on net sales of NUCYNTA ER (tapentadol extended-release
tablets) in the U.S., Canada and Japan from and after July 2, 2012
through December 31, 2021
Power Play -
Consumer ETFs continue to post gains: Consumer Staples Select
Sector SPDR (XLP), up 0.28%; iShares Dow Jones US Consumer Goods
(IYK), up 0.13%, near its year high of $74.97; and Vanguard
Consumer Staples ETF (VDC), up 0.22%.
Retail ETFs are likewise higher: SPDR S&P Retail (XRT), up
0.49%; PowerShares Dynamic Retail (PMR), up 0.59% and Market
Vectors Retail ETF (RTH), up 0.59% after hitting a new 52-week high
Movado Group (MOV) continues to climb, now up 16.24% and touched
a new 52-week high of $36.12, after it reported Q2 earnings of
$0.32 per share, ex one-time items, versus the Capital IQ consensus
of $0.18. Revenues were $118 mln, versus the analyst estimate of
$122.65 mln. The company raises its FY13 EPS outlook to about
$1.40, up from the prior outlook of $1.15, and above the consensus
of $1.24. It now expects revenues to be $510 mln, up from the prior
guidance of $505 mln. Analysts are looking for $508.20 mln in