Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ETF Trust (
): +0.11%, with fresh new 52-week highs
iShares MSCI Emerging Markets Index (
iShares FTSE/Xinhua China 25 Index (
iShares MSCI Japan Index (
): +1.29%, near 52-week highs
Select Sector Financial SPDRs (
): +0.33%, with a new 52-week high
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others were higher, and earlier reached or neared fresh 52-week
highs. Actively traded PowerShares QQQ (QQQ) was off 0.06%, after
reaching a new 52-week high. Top Asian funds iShares FTSE/Xinhua
China 25 Index (
) and iShares MSCI Japan Index (
) were among top gainers.
U.S. stocks were firmer in the session's half, as optimism
following Janet Yellen's remarks defending the Federal Reserve's
bond-buying program continued, trumping mixed economic data. The
New York manufacturing index turned negative for the month of
November, declining to a negative 2.2, and missing economists'
expectations. September U.S. wholesale inventories climbed 0.4%;
export prices, ex ag, went down 0.4% in October while import
prices, ex oil, were unchanged.
Power Play: Healthcare
Health Care SPDR (XLV) was up 0.15%, and earlier reached a new
52-week high. Likewise, Vanguard Health Care ETF (VHT) and iShares
Dow Jones US Healthcare (IYH) were also in the green, both touching
fresh new 52-week highs. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB) was up 1%.
Among stocks, Cadence Pharmaceuticals, Inc. (CADX) climbed 36%
to a new 52-week high after the biopharmaceutical company announced
late Thursday the Delaware Court's ruling in favor of Cadence in
its patent infringement lawsuit against Exela Pharma Sciences, LLC.
In August 2011, Cadence and SCR Pharmatop, the patent owner, filed
suit against Exela for infringement of two patents covering OFIRMEV
(Acetaminophen) Injection. The Court rejected Exela's claims that
these patents are invalid and found that Exela's ANDA for a generic
version of the product infringes both of these patents.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.33%, with a fresh new 52-week high. Direxion Daily
Financial Bull 3X shares (FAS) was up 1.11%, also with a new
52-week high. Its bearish counterpart, FAZ, was down 1.05% after
sinking to a new 52-week low.
Among financial stocks, EMC Insurance (EMCI) was up 2.7% after
it said its board of directors increased its quarterly cash
dividend by 9.5% to $0.23 per share of common stock. Previously,
the insurance-holding company's dividend rate was $0.21 per share.
The new dividend is payable Dec. 3 to shareholders of record Nov.
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) all firmed in the session's half and touched new 52-week
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
in the red, while Semiconductor Sector Index Fund (SOXX) saw some
gains - both were at the higher end of their 52-week ranges. SPDR
S&P International Technology Sector ETF (IPK) was flat.
Among stocks, Agilent Technologies (A) was up some 8% and
reached a new 52-week high, helping to lift the broader technology
space after its earnings beat. reported Q4 EPS of $0.81 per share
on revenues of $1.72 billion, topping the the analyst consensus of
$0.76 per share on revenue of $1.70 billion. The company's Q1
guidance of $0.65 - $0.67 EPS on revenues of $1.68 billion - $1.70
billion were below estimates; its outlook for FY14 is $3.03 - $3.33
on revenues of $6.95 billion - $7.15 billion.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were edging higher, both reaching new 52-week highs
In sector news, Susser Holdings (SUSS) and Susser Petroleum
Partners (SUSP) signed a definitive agreement to acquire
substantially all of the convenience store assets and fuel
distribution contracts of Sac-N-Pac Stores, Inc. and 3W Warren
Fuels, Ltd. SUSS shares were up 1.27%, with a new 52-week high;
SUSP shares were up 2%.
Crude was down 0.02%; likewise, United States Oil Fund (USO) was
down 0.03%. Meanwhile, natural gas was up 1.04%, and United States
Natural Gas Fund (UNG) was up 0.84%.
Gold was up 0.24%, and SPDR Gold Trust (GLD) was up 0.19%.
Silver was up 0.21%; iShares Silver Trust (SLV) was down 0.15%.
Consumer Staples Select Sector SPDR (XLP) and Vanguard Consumer
Staples ETF (VDC) slipped lower after reaching new 52-week highs;
and iShares Dow Jones US Consumer Goods (IYK) was flat but also
touched a new 52-week high.
Among stocks, Home Inns & Hotels Management (HMIN) rose more
than 11% to its highest price since May 2011, after the Chinese
economy hotel chain reported Q3 revenue that topped estimates and
said EPS improved from a year ago. The company reported Q3 earnings
of RMB 1.85, or $0.30 per share, compared with the prior-year
period's RMB 0.37 per share. Adjusted earnings per ADS were RMB
3.70, or $0.64. This may not be comparable to the Capital IQ
consensus estimate of $0.48 EPS. Revenues were RMB 1.74 billion, or
$284.2 million, up 8.8% from RMB 1.6 billion in the same quarter
last year. Analysts were looking for $278.68 million.
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