Active broad-market exchange-traded funds at Thursday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iShares MSCI Japan ETF (
iPath S&P 500 VIX Short Term Futures (
Market Vectors Gold Miners (
Broad Market Indicators
Most broad market exchange-traded funds reversed and were in
negative territory. Actively traded PowerShares QQQ (QQQ) was down
U.S. stocks also gave up gains in the session's half, as global
growth concerns returned to the forefront. Weak data from China and
the continuing tensions between Russia and the U.S. over Ukraine
have overshadowed upbeat economic data reported earlier - retail
sales in February rose a seasonally adjusted 0.3%, better than
expected, while weekly jobless claims fell to the lowest level
since the end of November. Meanwhile, import prices rose in
February, also topping estimates. Business inventories increased in
January, above forecasts.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK)
were firmer, outperforming the broader market.
Retail ETFs SPDR S&P Retail (XRT) and PowerShares Dynamic
Retail (PMR) were weake; Market Vectors Retail ETF (RTH) was up
Among stocks, Williams-Sonoma (WSM) was up more than 10% and
reached record highs after the company reported financial results
for Q4 that topped analysts' expectations, issued mixed guidance,
and raised its dividend. The multi-channel specialty retailer
reported Q4 earnings of $1.38 per share on revenue of $1.47
billion. Comparable brand revenue growth was 10.4% for the quarter.
Analysts polled by Capital IQ were expecting EPS of $1.35 on
revenues of $1.42 billion.
The company expects Q1 EPS of $0.41- $0.44 on revenues of $920
million - $940 million, below the Street view. For fiscal 2014, WSM
sees EPS of $3.05 - $3.15, on revenue of $4.63 billion - $4.71
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.50%, but near its
five-year high. Direxion Daily Financial Bull 3X shares (FAS) was
down 1.32%. Its bearish counterpart, FAZ, was up 1.51%, near its
Among sector news, Banc of California, Inc. (BANC) was down some
1% after the multi-bank holding company reported net income
available to common shareholders of $2.4 million, or $0.12 per
diluted common share, compared with a loss of $3.5 million, or
$0.30 per diluted common share, for Q4 2012. Analyst estimates for
earnings were not available.
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 in the red, but near their record or multi-year highs.
SPDR S&P International Technology Sector ETF (IPK) was
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.5%, and Semiconductor Sector Index Fund (SOXX) was up 0.36% -
both near their record highs.
In stocks news, MagicJack VocalTec Ltd. (CALL) climbed some 20%
after reporting late Wednesday non-GAAP earnings of $0.69 per share
on $38 million in total net revenues, compared with analysts'
prediction of $0.41 per share on $36 million in revenues. The
company also gave 2014 guidance of $50 million in EBITDA and $160
million in revenues, compared to Wall Street forecasts of $46
million and $142 million respectively. The earnings include a $35
million one-time tax benefit, related to various accounting
treatment changes in the U.S. and operating losses in Israel.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were both lower, down 0.73% and 0.75% respectively.
In corporate news, KiOR (KIOR) was down 7% on after it said it
was cancelling its earnings conference call previously scheduled
for 10 a.m. ET today and delaying the release of its results. The
company said it will delay the Q4 release until its Annual Report
on Form 10-K is filed on or before March 17, 2014. It gave no
Crude was up 0.18%; United States Oil Fund (USO) was down 0.14%.
Natural gas was down 0.88%; United States Natural Gas Fund (UNG)
was down 1.92%.
Gold was down 0.13% and silver was down 0.55%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.17%; iShares Silver Trust
(SLV) was down 0.10%.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) were weaker. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) was down 0.93%.
In corporate news, Depomed (DEPO) climbed 11% after it reported
late Wednesday net income for Q4 2013 was $0.72 per share, compared
to a net loss of $0.07 per share for Q4 2012. Q4 2013 revenue of
$40.6 million, up from $26.6 million a year prior. The Street
expected revenue of $20 million and a loss of $0.20 per share,
according to Capital IQ's consensus. For 2014, the company expects
non-GAAP earnings of breakeven to $0.16 per share and revenue of
approximately $200 million to $215 million. The Street calls for a
loss of $0.28 per share on revenue of $26.9 million for 2014.
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