Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 (
iPath S&P 500 VIX ST Futures ETN (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV
were weaker. Likewise, actively traded PowerShares QQQ (
) was down 0.02%.
U.S. stocks reversed earlier gains as tensions between Russia
and Ukraine were reignited following an announcement from a
Ukrainian military spokesperson, who said Ukrainian forces had
destroyed part of a Russian military unit that was in Ukrainian
territory. The news comes at the heels of NATO Secretary General,
Anders Fogh Rasmussen's statement late Thursday that NATO observed
that Russia had indeed committed an incursion into Ukrainian
Back home, the University of Michigan and Thomson Reuters
reported that the preliminary August reading on their
consumer-sentiment index fell to 79.2, missing analysts' forecasts.
This reading was also the lowest level since November.
Earlier gains were spurred by the report that U.S. producer
prices in July increased 0.1%, signaling low inflation pressure.
This also matched forecasts for a slower price growth following the
increase of 0.4% in June. Excluding food, energy and trade, the
core producer prices rose 0.2% last month. Meanwhile, the Empire
State manufacturing index had a reading of 14.7 in August, after
hitting a four-year high in the previous month. This was below the
consensus of a 20.0 reading.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
Monster Beverage (MNST) surged about 28% to a new 52-week high
of $94.93 after it said Coca-Cola (KO) will acquire an
approximately 16.7% in MNST for $2.15 billion cash and will have
two directors on MNST's Board. KO will transfer ownership of its
worldwide energy business to MNST, and MNST will transfer its
non-energy business to KO. KO will become MNST's preferred
distribution partner globally and MNST will become KO's exclusive
energy play. The transaction is expected to close late in 2014 or
early in 2015. XO shares were down 0.42%.
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.84%. Direxion
Daily Financial Bull 3X shares (FAS) was down 2.12% while its
bearish counterpart, FAZ, was up 1.99%.
Xinyuan Real Estate Co (XIN) was down 10.10% after the company
said Q2 sales were $166.8 million, down 16% from a year ago.
Diluted earnings were $0.08 per ADS, down from $0.54 in the
It expects sales revenue and profit recognition for the full
year to be back-end loaded. For Q3, it sees sales between $220 to
$230 million while net income is expected to reach $7 million to $9
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 lower. SPDR S&P International Technology Sector ETF
(IPK) was flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 0.32% and Semiconductor Sector Index Fund (SOXX) was up
Extreme Networks (EXTR) was down 8.97% after it reported late
Thursday Q4 adjusted EPS of $0.09 per share, above the analyst
consensus of $0.07 per share on Capital IQ. Revenue was $155.3
million, vs. expectations of $153.3 million. For Q1, the company
expects EPS of $0.06 to $0.08 per share on revenue of $149 to $154
million, vs. Street estimates of $0.07 per share in EPS on revenue
Dow Jones U.S. Energy Fund (IYE) was up 0.20%; Energy Select
Sector SPDR (XLE) was up 0.25%.
Noble Energy (NBL) was edging higher, and was up 0.43% after the
explorer and producer announced its Bright exploration well in
deepwater Gulf of Mexico reached the targeted Upper and Middle
Miocene objectives and did not encounter hydrocarbons. Drilled to a
total depth of 13,500 feet on Atwater Valley 362, the well has been
plugged and abandoned. Full well assessment and the integration of
drilling results into the company's geologic models is ongoing to
determine forward exploration plans on the recently acquired
Atwater Valley acreage. BP Exploration & Production Inc.
operated the well with 50% working interest and Noble Energy had
the remaining 50%. The company expects Q3 2014 exploration expense
to remain within guidance of $150 million to $250 million.
Crude was up 0.98%; United States Oil Fund (USO) was up 0.80%.
Natural gas was up 2.33% and United States Natural Gas Fund (UNG)
was down 3.03%.
Gold was down 0.57%, and silver was down 1.14%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 0.40% and iShares Silver
Trust (SLV) was down 1.07%.
Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH)
and Vanguard Health Care ETF (VHT) were in the red. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) was down 0.36%.
Agile Therapeutics (AGRX) was up 12% after the company reported
that for Q2 ended June 30, 2014, its loss widened from the prior
year period but were narrower than analysts' forecasts. The women's
health specialty pharmaceuticals said its Q2 net loss was $3.7
million or $0.28 per share, compared with the prior-year period's
net loss of $3.6 million or $0.25 per share. Analysts polled by
Capital IQ were expecting loss per share of $0.37 per share.