Active broad market exchange-traded funds in Wednesday's regular
SPDR S&P 500 (
Select Financial Sector SPDRS (
iShares MSCI Emerging Markets Index (
iShares MSCI Japan Index Fund (
iPath S&P VIX Short Term Futures (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were modestly higher at mid-day. Actively traded
PowerShares QQQ (QQQ) was up 0.45%.
U.S. indices were edging higher at the mid-session, following
another record run in yesterday's session when the Dow industrials
closed at 15,056.20 and the S&P 500 index closed at a record -
its fourth straight session. Market sentiment saw a mild boost
after China reported a surplus of $18.16 billion in April, beating
economists' forecasts. China had reported a deficit in March.
German industrial production also rose more than forecast, raising
hopes the eurozone's biggest economy is gathering strength.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.73%. Direxion Daily Financial Bull 3X shares (FAS) has
risen 1.80%. Its bearish counterpart, FAZ, was down 1.68%.
Among financial stocks, Fifth Street Finance Corp. (FSC) was
flat, recovering from sell off shortly after the open, after it
said it has entered into a definitive agreement to acquire
Healthcare Finance Group, LLC as a portfolio company.
Healthcare Finance is a specialty lender providing asset-based
lending and term loan products to the healthcare industry. Fifth
Street anticipates investing approximately $110 million and intends
to finance the purchase with available liquidity, including
operating cash and borrowings under Fifth Street's existing credit
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 all showing modest gains.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were higher, up 0.98% and
SPDR S&P International Technology Sector ETF (IPK) was
In sector news, Cognizant (CTSH) was up 4.3% after reporting Q1
revenue of $2.02 billion, vs. the analyst consensus of $2 billion
on Cap IQ. EPS was $1.02, vs. expectations of $0.94 per share. The
company boosted its stock buyback program by $500 million to $1.5
billion. For Q2, the company expects revenue of at least $2.13
billion, vs. expectations of $2.11 billion. EPS is seen at $1.06,
vs. expectations of $0.99 per share. For FY 2013, it expects
revenues of at least $8.6 billion and EPS of $4.31, vs. the Street
view of $4.62 billion in revenues and earnings of $4.05 per
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) are flat, with a positive bias.
In sector news, Northern Oil and Gas (NOG) said it will engage
in an underwritten public offering of $200 million of its 8% senior
notes due 2020. Northern will use the proceeds to repay borrowings
under its revolving credit facility, to fund capital expenditures,
and for other general corporate purposes. The shares are up 1% at
June crude was up 0.42%; July natural gas was up 0.96%. United
States Oil Fund (USO) was up 0.61%. United States Natural Gas Fund
(UNG) was up 0.28%.
June gold was up 2.02% and silver for July delivery was down
0.38%. Among rare metal funds, SPDR Gold Trust (GLD) was up 091%;
iShares Silver Trust (SLV) was up down 0.95%. Gold funds were among
the top ten gainers, with Direxion Daily Gold Miners Bull 3X Shares
(NUGT) up 10.9% and Market Vectors Gold Miners ETF (GDX) up
Healthcare ETFs Health Care SPDR (XLV) and Vanguard Health Care
ETF (VHT) were slightly higher, while iShares Dow Jones US
Healthcare (IYH) was down 0.08%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) was up 0.11%.
In corporate news, Omega Healthcare Investors Inc. (OHI)
reported first quarter 2013 adjusted funds from operations (FFO) of
$71.7 million, or $0.63 per common share, compared to consensus
estimate of $0.60. Revenues for the quarter totaled $101.8 million,
better than consensus estimate of $96.3 million.
In the prior-year period, adjusted FFO was $56.9 million, or
$0.55 per share, on revenues of $84.5 million. The company
confirmed its 2013 adjusted FFO to be between $2.45 and $2.50 per
diluted share. Analysts expect adjusted FFO of $2.45. The shares
are up 0.28% and earlier hit a 52-week high of $35.63.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) are showing modest losses.
In sector news, Whole Foods Market (WFM) shares have spiked
almost 11% and hit a 52-week high of $103.72 after the company's Q2
EPS topped estimates and it raised its full-year forecasts. The
intraday gain was the biggest since last July, according to
The company reported after the bell Tuesday that Q2 sales
increased 13% to $3.0 billion, on par with the $3 billion the
Street expected. Its Q2 EPS was $0.76 per share versus the $0.73
per share in earnings the Street expected.
Industrial ETFs Vanguard Industrials (VIS) was up 0.49%, iShares
Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ) has risen
0.44%, and Select Sector SPDR-Industrial (XLI) was up 0.54%.
In earnings news, Axiall Corp (AXLL) has tanked 15.7% after
reporting first quarter 2013 adjusted net income of $45.1 million,
or $0.75 per share. This compares to last year's adjusted net
income of $27.6 million, or $0.79 per share. Net sales for the
quarter came in at $1.1 billion, in line with consensus estimate.
Year-ago net sales were $859.9 million.
Power Play - Funds with AXLL exposure. Morningstar Small Value
Index Fund (JKL) and Russell 2000 Growth (IWO). JKL was up 0.26%,
while IWO was slightly weaker.
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