Active broad-market exchange-traded funds in Thursday's regular
SPDR S&P 500 (
): +0.88%, hit new year highs.
iPath S&P VIX Short Term Futures (
iShares Russell 2000 (
iShares MSCI Emerging Markets Index (
Select Financial Sector SPDRS (
): +0.78% to near year highs
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are modestly firmer. Actively traded PowerShares QQQ (QQQ)
is up 1.3% at $71.31, a new year high.
U.S. stock indices are all higher mid-day after economic data
that showed U.S. jobless claims filed last week fell to their
lowest level since January 2008 and the U.S. trade gap narrowed
sharply in March. The European Central Bank's decision to cut
interest rates, as expected, also gave the market a boost, with ECB
head Mario Draghi stating that the ECB's monetary policy would
remain accommodative. Strong earnings from General Motors (GM),
Facebook (FB), Visa (V) and others also helped sentiment.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.76%. Direxion Daily Financial Bull 3X shares (FAS) is up
2.1% and closing in on a 52-week high. Its bearish counterpart,
FAZ, is down 2.2% and nearer to year lows.
Among financial stocks, Visa (V) is up 6.5% at around $176.80,
but earlier touched a year high of $179.66, after it posted a
fiscal second-quarter profit that beat analysts' estimates as
spending on credit and debit cards rose. Net income fell 1.7% to
$1.27 billion or $1.92 a share, beating the $1.81 consensus.
Technology Select Sector SPDR ETF (XLK) is up 1.21% and nearer year
highs; iShares Dow Jones US Technology ETF (IYW) is gaining 1.1%;
iShares S&P North American Technology ETF (IGM) is up 0.3% and
iShares S&P North American Technology-Software Index (IGV) has
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) are also gaining, with SOXX
hitting fresh year highs. SPDR S&P International Technology
Sector ETF (IPK) is up 0.8%, also at year highs.
In sector news, NII Holdings (NIHD) has lost early gains and has
now tumbled 7% after it reported a Q1 GAAP loss of $1.21 per share,
ex one-time items, versus the Capital IQ GAAP consensus of $0.66
loss per share. Revenues were $1.41 billion, versus the analyst
estimate of $1.46 billion. The company said that it added 152,000
net subscribers to its network this quarter, bringing its ending
subscriber base to over 11.5 million, a 5% increase from March 31,
SPDR Homebuilders ETF (XHB) and DJ US Home Construction (ITB)
are showing strong gains, up 2.2% and 2.9% respectively, with both
heading toward year highs.
June crude was up 1.78%; July natural gas was down 6.42%. United
States Oil Fund (USO) was up 2.5%. United States Natural Gas Fund
(UNG) is down 6.2%.
June gold is up 1.58% and silver for July delivery is up 2.17%.
Among rare metal funds, SPDR Gold Trust (GLD) is up 0.7%; iShares
Silver Trust (SLV) is up 1.1%.
Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) are showing gains
of more than 1%. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is up 2%.
In corporate news, Catamaran (CTRX) is down nearly 6% at $53.70
but almost $3 above a day low $50.88 after it reported Q1 earnings
of $0.42 per share, versus the Capital IQ consensus of $0.41.
Revenues were $3.22 billion, versus the analyst estimate of $3.52
billion. The company reaffirms its FY13 guidance, still expecting
EPS of $1.81 - $1.88, ex non-recurring items, versus the consensus
of $1.87 EPS. It sees revenues of $14.2 billion - $14.6 billion, in
line with the Street view of $14.51 billion.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) are all modestly higher, but heading towards year
In sector news, Kellogg (K) is now up 4 cents at $5.44 - having
touched a $5.53 day high in early going and dipped quickly to a day
low $5.40 before recovering somewhat - after reporting an adjusted
EPS of $0.99 for Q1 with revenue of $3.86 billion. Analysts
expected $3.9 billion in revenue with $1.02 in earnings per share,
according to Capital IQ. For the full year, the company expects EPS
of $3.82 to $3.91 per share. The analyst consensus on Cap IQ is
$3.87 per share.
Dow Jones U.S. Energy Fund (IYE) has risen 1% and Energy Select
Sector SPDR (XLE) is up 1.1%.
In sector news, Norway's Statoil (STO) has fallen 3.2% after
posting a more than halving in Q1 net profit, a fall in production
and a fall in oil and gas prices received. Statoil said in a
statement to the Oslo Bors that Q1 net income more than halved to
NOK6.4 billion ($1.1 billion), from NOK15.4 billion for Q1 last
year. It said it was hit by outages in two major fields offshore
Norway and one offshore Brazil. The average liquids price it
received came in at $103.50 a barrel in Q1, down 7% from $111.50 a
barrel last year. Q1 production was 1.998 million barrels of oil
equivalent/day, down 9% for last year.
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