Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX ST Futures ETN (
iShares Russell 2000 Index (
Select Sector Financial SPDRs (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV
were weaker. Actively traded PowerShares QQQ (QQQ) was up 0.31%,
reaching a 14-year high.
U.S. stocks edged lower at Friday's session half, giving earlier
modest gains as worries over tensions between Ukraine and Russia
were rekindled by news that the head of Ukraine's security service
called the movement of Russian trucks into the former Soviet
republic without a Red Cross escort a "direct invasion."
Earlier gains were spurred by Fed Chair Janet Yellen's comments
that while the U.S.economy is closer to reaching the central bank's
targets for employment or inflation, there is not yet enough
ammunition to raise short-term interest rates.
Still ahead, European Central Bank President Mario Draghi will
also be speaking in Jackson Hole, Wyoming at 2:30 pm, ET.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
edging higher but were near record or multi-year highs.
Meanwhile, Retail ETFs SPDR S&P Retail (XRT), PowerShares
Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH) were
Tuesday Morning (TUES) was up 8% and climbed to an eight-year
high as the company provided a positive update on finishing the
final phase of its turnaround plan, despite reporting late Thursday
Q4 financial results that were below Street expectations.
Michael Rouleau, the chief executive officer of the company,
said, "During the fourth quarter we continued work on the final
phase of the Company's turnaround program which includes the
sell-off of exited categories, expansion of replacement categories,
a further reduction of our clearance merchandise, and enhancements
to our store layouts. Our strong comparable store sales trend,
increased inventory turnover and improved cash position during the
fourth quarter provides us with the confidence that our plan is
working as expected and that our customers like what they see."
TUES had reported Q4 sales of $212.6 million, just below
estimates for $213.11 million. Adjusted net loss was $0.08 per
share, a penny below forecasts for a loss of $0.07. In the same
period last year, TUES reported an adjusted loss of $0.13 per share
on revenue of $202.13 million.
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.22%. Direxion Daily Financial Bull 3X shares (FAS) was
down 0.53% while its bearish counterpart, FAZ, was up 0.49%.
Allied World Assurance (AWH) was up 0.44% after the insurer
announced late Thursday a deal to acquire the Hong Kong and
Singapore operations of Royal & Sun Alliance Insurance for
around $215 million in cash. The transaction is seen as
complementing AWH's global specialist insurance strategy and adding
scale in the Asia-Pacific region. The acquired business also
includes a niche group of specialty lines, including casualty,
construction and engineering, marine and property and wrote around
$250 million in gross premiums during 2013. AWH expects the deal
will immediately add to its per-share earnings. It will fund the
purchase with cash on hand, with plans on spending another $90
million to adequately capitalize the business on an ongoing
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) reached multi-year highs. SPDR S&P International
Technology Sector ETF (IPK) was flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.11% while Semiconductor Sector Index Fund (SOXX) was up
Salesforce.com (CRM) was up 9.24% after it reported Q2 adjusted
EPS of $0.13, a penny ahead of the analyst consensus on Capital IQ.
Revenue was $1.32 billion, better than expectations of $1.28
billion. For FY 2015, the company raised its revenue guidance by
$30 million to a range of $5.34 to $5.37 billion. The Street is at
$5.33 billion. Earnings are seen at $0.50 to $0.52, vs.
expectations of $0.50 per share. For Q3, the company expects
revenue of $1.365 to $1.370 billion, vs. expectations of $1.366
billion. EPS is seen at $0.12 to $0.13, vs. expectations of $0.13
Dow Jones U.S. Energy Fund (IYE) was down 0.72%; Energy Select
Sector SPDR (XLE) was down 0.81%.
Tesco Corp (TESO) was down 1.85% after company said CEO Julio
Quintana will retire, effective Jan. 1, 2015. The company selected
Fernando Assing - currently chief operating officer and executive
vice president at the firm - to succeed Quintana, who steps down
after nearly nine years at the helm. Quintana will keep his seat on
the company's board of directors through the end of his current
Crude was down 0.69%; United States Oil Fund (USO) was down
0.68%. Natural gas was down 0.71% and United States Natural Gas
Fund (UNG) was down 0.75%.
Gold was up 0.48%, while silver was up 0.25%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.19% and iShares Silver Trust
(SLV) was down 0.05%.
Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH)
and Vanguard Health Care ETF (VHT) climbed to record highs. Biotech
ETF iShares NASDAQ Biotechnology Index (IBB) was up 0.63%.
Aastrom Biosciences (ASTM) was up 10.44% after the company said
that results from its Phase 2a clinical studies of ixmyelocel-T for
the treatment of advanced heart failure show a reduced incidence of
major adverse cardiovascular events in patients with ischemic DCM.
The trial results were published in the peer-reviewed journal
Circulation Research. In two separate open-label studies, a total
of 61 patients were randomized and 59 were treated or received
standard of care. The combined results among ischemic DCM patients
demonstrated that patients treated with ixmyelocel-T experienced
fewer major cardiovascular events during follow up compared to