Active broad market exchange-traded funds in Friday's regular
iShares MSCI Japan Index Fund (
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
Select Sector SPDR Fund Financial (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were all showing modest losses at mid-day. Actively traded
PowerShares QQQ (QQQ) was down 0.46%.
U.S. stocks were lower at the mid-session despite
better-than-expected durable goods orders, amid concern the Federal
Reserve may soon begin to withdraw economic stimulus measures.
U.S. duarble-goods orders rose 3.3% for the month of April,
compared with the forecast of a 1.4% rise, according to economists
surveyed by Marketwatch. Excluding the transportation sector,
orders rose 1.3%. Shipments of core capital goods, however, slipped
1.5%. Some earnings misses for household names such as Abercrombie
& Fitch and Sears are also hitting sentiment.
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.4%. Direxion Daily Financial Bull 3X shares (FAS) was
down 1.3%. Its bearish counterpart, FAZ, was up 1.18%.
Among financial stocks, HSBC (HBC) was down 1.9%. The bank has
posited a deal for $1.9 billion to settle money laundering charges
from U.S. authorities, who say HSBC allowed terrorists to funnel
millions of dollars through the bank. But a judge is considering
cancelling the agreement, The Telegraph reports. Meanwhile, U.S.
Department of Justice said the judge does not need to sign off on
Technology Select Sector SPDR ETF (XLK) was down 0.35%, iShares Dow
Jones US Technology ETF (IYW) is off 0.58%, iShares S&P North
American Technology ETF (IGM) was down 0.4% and iShares S&P
North American Technology-Software Index (IGV) has dropped
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were both in the red.
SPDR S&P International Technology Sector ETF (IPK) was down
In sector news, Marvell Technology (MRVL) reversed early gains
and was down 0.18% after it reported Q1 revenues of $734 million,
vs. the analyst consensus of $721.5 million on Cap IQ. EPS was
$0.19, vs. expectations of $0.14 per share. For Q2, co. guides for
revs of $770-$810 million and EPS of a gain of $0.19 to a loss of
$0.02. The Street is at $762.9 million in revs and earnings of
$0.18 per share.
Dow Jones U.S. Energy Fund (IYE) was 0.8% lower. Energy Select
Sector SPDR (XLE) was down 1.12%.
In sector news, InterOil (IOC) was down 5.3% at $88.54 after
surging to a 52-week high of $106.31 in early trading after it said
it and its joint venture partner, Pacific LNG Group, have entered
into exclusive negotiations with ExxonMobil Papua New Guinea Ltd.,
a subsidiary of ExxonMobil (XOM), on the development of Petroleum
Retention License 15 (PRL 15), which comprises the Elk and Antelope
fields in the Gulf Province of Papua New Guinea. The transaction
has been discussed with the Government of Papua New Guinea and any
future agreement will be subject to their final approval.
July crude is down 0.5%; July natural gas was down 0.53%. United
States Oil Fund (USO) was down 0.63%. United States Natural Gas
Fund (UNG) was down 0.35%.
June gold is down 0.38% and silver for July delivery was barely
changed. Among rare metal funds, SPDR Gold Trust (GLD) was down
0.28%; iShares Silver Trust (SLV) was down 0.45%.
Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) were showing
losses of about 0.5%. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB) was also down 0.88%.
Vanda Pharmaceuticals (VNDA) shares were up 11% and hit a
52-week high of $8.13 after the Tech Council of Maryland named the
company Life Science Firm of the Year, outlining its work on a
treatment for Non-24-Hour Disorder, a rare condition for which
there are currently no FDA approved drugs.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) were all showing modest gains.
Retail ETFs SPDR S&P Retail (XRT) was down 1.2%, PowerShares
Dynamic Retail (PMR) was off 0.33%, and Market Vectors Retail ETF
(RTH) was down 0.08%.
In sector news, Abercrombie & Fitch (ANF) was down 10.5%
after it reported a 1Q13 EPS loss of $0.09, below the street's
estimate of $0.05, per Capital IQ. Management notes that the
quarter was negatively impacted by an "inventory shortage," which
was down by 23% in the quarter.
Power Play - Morningstar Small Core Index Fund (JKJ) was 0.95%
weighted to Abercrombie & Fitch. It's down 0.64%.
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