Active broad market exchange-traded funds in Tuesday's regular
SPDR S&P 500 (
iShares MSCI Japan Index Fund (
iShares MSCI Emerging Markets Index (
iShares MSCI EAFE Index Fund (
iPath S&P VIX Short Term Futures (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were advancing at mid-day. Actively traded PowerShares QQQ
(QQQ) is up 0.66%.
U.S. market indices are all higher at mid-day on optimism over
the economy, with the National Federation of Independent Business's
optimism index showing confidence among small companies at a
six-month high in April. A separate report showed U.S. import
prices fell 0.5% in April, in line with economists' expectations,
according to a MarketWatch poll. Excluding fuel, import prices
slipped 0.1% in April. Banking stocks got a boost from comments
from hedge fund manager David Tepper saying U.S. banks were "a good
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 1.35%. Direxion Daily
Financial Bull 3X shares (FAS) is up 3.76%. Its bearish
counterpart, FAZ, is down 3.78%.
Among financial stocks, IBERIABANK (IBKC) has named H. Spurgeon
Mackie, Jr. as its new chief credit officer, replacing Gregg
Strader, who has left the company to spend more time with his
family in North Carolina. The shares were up 1.28%.
Bank of America (BAC) was up 2.54% and hit a two-year high of
$13.32 after Appaloosa Management's David Tepper said he is bullish
on the US banking sector.
Dow Jones U.S. Energy Fund (IYE) was up 1.08% and Energy Select
Sector SPDR (XLE) gained 1.2%.
In sector news, Public Service Enterprise Group (PEG) will take
over management of Long Island Power Authority's operations next
year after a contract with National Grid, which partially runs the
operations, expires this year, according to multiple media reports.
Hurricane Sandy in October left more than 90% of the 1.1 million
LIPA customers on Long Island without power, some for more than two
weeks, and lawmakers faulted the operations run by National Grid.
The shares were up 0.6%.
Crude futures slipped below $95 a barrel following comments from
the International Energy Agency, which said the U.S.'s stronger oil
production could outpace the demand in high growing emerging
markets. Crude for June delivery was down 0.35%; July natural gas
was up 1.5%. United States Oil Fund (USO) was down 0.14%. United
States Natural Gas Fund (UNG) was up 1.46%.
June gold was down 0.47% and silver for July delivery was down
1.23%. Among rare metal funds, SPDR Gold Trust (GLD) was down
0.19%; iShares Silver Trust (SLV) was down 0.83%.
In stocks news, Pan American Silver Corp. (PAAS) Board of
Directors has approved the second quarterly cash dividend of 2013
in the amount of $0.125 per common share. The cash dividend will be
distributed on or about Wednesday, June 5, 2013 to holders of
record of common shares as of the close of business on Friday, May
24, 2013. The shares were off 0.79%.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares
Dow Jones US Healthcare (IYH) were all showing gains of just under
1%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up
In corporate news, Response Genetics, Inc. (RGDX) reported first
quarter 2013 net loss of $0.8 million, or $0.03 per share, on
revenues of $5.6 million. Analysts expected loss per share of $0.04
and revenues of $4.9 million. In the same period last year, net
loss was $3.1 million, or $0.14 per share, on revenues of $3.98
million. Its shares are down 1.6%, close to their lows for the
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) were all higher.
In sector news, Tesla (TSLA), the electric car maker, was up
0.9% at $88.58, backing off earlier gains that took it to a new
52-week top of $97.12, adding to the previous session's gains of
over 14%. The stock continues to bask in the in the afterglow of
last week's expectations-busting quarterly results. Last Wednesday
Tesla posted its first quarterly profit, besting the analyst
consensus. The company reported adjusted Q1 EPS of $0.12 which was
three times analyst estimates and it also posted sales of $562
million, also above consensus.
Power Play - NASDAQ Clean Edge Green Energy Index Fund (QCLN)
which includes Tesla stock was up 0.74%.
Tech ETFs Technology Select Sector SPDR ETF (XLK), iShares Dow
Jones US Technology ETF (IYW) and iShares S&P North American
Technology ETF (IGM) were showing modest gains, while iShares
S&P North American Technology-Software Index (IGV) was up
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were also higher. SPDR
S&P International Technology Sector ETF (IPK) was up 0.7%.
In sector news, Take-Two Interactive Software (TTWO) was up 4.5%
and earlier set a year high of $17.54 after it posted Q4 non-GAAP
EPS of $0.38 and continuing operations EPS of $0.23, versus the
Street consensus of $0.23. Revenues were $303 million. Revenue was
$303 million, vs. the Cap IQ consensus of $279 million. The company
also guides for Q1 EPS at loss of $0.70 to $0.55, versus the
Street's expected loss of $0.09, with revenues seen at $100-$125
million, versus Street's $195 million. For FY 2014, the company
sees EPS at $2.05-$2.30, vs. the Street at $2.24; with revenues
seen at $1.75-$1.85 billion, vs. the Street at $1.77 billion.