Active broad-market exchange-traded funds in Monday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX ST Futures ETN (
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV
were firmer at the session's half. Actively traded PowerShares QQQ
) was up 0.50%.
U.S. stocks turned positive as worries over the Federal
Reserve's decision to increase interest rates were eased, with
investors hoping it will be on hold for a while longer. Market
sentiment also brightened somewhat following the report that Banco
de Portugal threw a lifeline to struggling Banco Espirit Santo.
With no economic data on tap, investors will continue to focus
on earnings reports. American International Group (AIG), Leapfrog
(LF) and Marathon Oil (MRO) are all set to report their financial
results in the after hours session.
Power Play: Health Care
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 up 0.07%.
ANI Pharmaceuticals (ANIP) was up 14.47% after reporting its net
loss dropped on lower expenses and on income tax benefits. The
specialty pharmaceutical company said its Q2 net loss was 2.4
million or $0.21 per share compared to a loss of $4.6 million or
$6.03 a year ago. The sharp decline in the per-share loss was due
to the ten-fold increase in shares outstanding on a follow-on
public offering. No analyst estimates were available for
comparison. Revenue rose 8% to $6.6 million in the quarter and for
the last six months of the year, the company expects sales between
$28 million and $30 million. Adjusted non-GAAP earnings per share,
excluding non-cash stock compensation expense, is estimated to be
between $0.90 and $1.00 per share,
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.27%. Direxion Daily
Financial Bull 3X shares (FAS) was up 0.59% while its bearish
counterpart, FAZ, was down 0.54%.
Realogy Holdings (RLGY) was up 5.51% after it reported Q2
revenue of $1.5 billion and earnings of $0.59 per share, both ahead
of the analyst consensus of $1.48 billion in revenue and earnings
of $0.56 per share, according to Capital IQ data.
"Looking ahead, third quarter comparisons are difficult given
exceptional homesale transaction volume growth of 29% in the third
quarter of 2013 for RFG and NRT combined," Anthony Hull, Realogy's
executive vice president and chief financial officer, said. "For
the third quarter of 2014, based on our closed sales activity in
July, along with contracts opened in June and July, we expect
homesale sides to be down -4% to -6% year-over-year, and average
sale price to increase +4% to +6% on a combined basis. As a result,
we expect to see homesale transaction volume in the range of -2% to
+2% year-over-year this quarter for RFG and NRT combined."
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 firmer. SPDR S&P International Technology Sector ETF
(IPK) was down 0.86%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 0.24% while Semiconductor Sector Index Fund (SOXX) was up
BroadSoft (BSFT) was up 4% after it reported Q2 results above
the Street view and increased its full-year revenue guidance. The
provider of Internet protocol-based communications services
reported Q2 EPS of $0.31, down from $0.32 in Q2 2013 but topping
analysts' mean estimate of $0.25. Total revenue of $52.5 million
was up from $44 million in Q2 2013 and beat analyst projections of
Dow Jones U.S. Energy Fund (IYE) was up 0.55%; Energy Select
Sector SPDR (XLE) was up 0.57%.
Tsakos Energy Navigation (TNP) was down 6.23% after issuing
disappointing Q2 results. The deep sea freight company reported
lower-than-expected Q2 revenue of $73.6 million compared to the
average street estimate of $77.7 million as compiled by S&P
Capital IQ. The Greece-based company reported net profit of $0.2
million was higher than the loss of $1.5 million of last year's Q2
2013. Although, operating income of $8.5 million was down
year-over-year due to higher operating expenses. Q2 average daily
operating costs per vessel cam in at $7,971, up 3.1% from $7,728 in
last year's Q2. The company notes the "vibrant" crude
transportation market of the first quarter lost steam moving into
the second quarter.
Crude was up 0.10%; United States Oil Fund (USO) was up 0.39%.
Natural gas was up 0.84% and United States Natural Gas Fund (UNG)
was up 0.72%.
Gold was down 0.47%, and silver was down 0.67%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 0.42% and iShares Silver
Trust (SLV) was down 0.59%.
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
Retail ETFs SPDR S&P Retail (XRT), PowerShares Dynamic
Retail (PMR), and Market Vectors Retail ETF (RTH) were modestly
Walgreen (WAG) was up some 2% after announcing it has appointed
Timothy McLevish as executive vice president and chief financial
officer, effective immediately. McLevish comes to Walgreens from
Kraft Foods Group (KRFT), where he most recently served as
executive vice president and chief financial officer. He succeeds
Wade D. Miquelon, who will continue as an advisor to assist in the
transition, and will "move forward to pursue several new
opportunities outside of the company," Walgreen said.
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