Active broad-market exchange-traded funds in Monday's regular
SPDR S&P 500 (
): +0.3%, near 52 week highs
iPath S&P VIX Short Term Futures (
): -1.5%, near year lows
iShares Russell 2000 (
): +0.6%, near 52 week highs
iShares Emerging Japan Index Fund (
) -0.25%, but still near year highs
iShares MSCI Emerging Markets Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are showing modest gains. Actively traded PowerShares QQQ
(QQQ) is up 0.4%, and has hit new year highs.
U.S. stocks are flat to slightly firmer at the midsession after
last week's record-breaking run, with no major data releases for
focus. The S&P 500 traded above 1,600 for the first time last
week, while the Dow briefly surpassed 15,000 on May 3. Among
earnings released Monday, Tyson Foods (TSN) reported a steep drop
in its second-quarter earnings, hurt as customers switched to
chicken from beef to save money, sending the stock down 4.5%.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 1% to year highs.
Direxion Daily Financial Bull 3X shares (FAS) is up 2.4%, hitting a
new year high of $61.59. Its bearish counterpart, FAZ, is down
2.35%, posting a fresh year low.
Among financial stocks, Swiss Bank UBS (UBS) is now slightly
higher, recovering from an early slide but also off late morning
highs, after Assured Guaranty (AGO) announced it had reached a
settlement with UBS resolving its claims over residential
mortgage-backed securities transactions that were issued,
underwritten or sponsored by UBS and insured by Assured Guaranty
under financial guaranty insurance policies. Under the settlement,
Assured will get an initial cash payment of $358 million. UBS will
also reimburse Assured Guaranty for a part of all future losses on
certain transactions under a collateralized loss-sharing
reinsurance agreement to be put in place by the third quarter of
2013. The company said the settlement resolved all RMBS claims that
the company has asserted against UBS, including those that have
been in litigation.
Technology Select Sector SPDR ETF (XLK) is up 0.4% and nearer year
highs, iShares Dow Jones US Technology ETF (IYW) gained 0.6%,
iShares S&P North American Technology ETF (IGM) has risen 1.5%
to year highs and iShares S&P North American
Technology-Software Index (IGV) has risen 0.3%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.4%,
hitting a year high of $51.64 and Semiconductor Sector Index Fund
(SOXX) is 1% higher and has hit fresh year highs. SPDR S&P
International Technology Sector ETF (IPK) is flat.
In sector news, Google (GOOG) is up more than 1% and hit a
52-week high of $858.62 following a CNN report that the company is
poised to unveil a channel subscription service for some of
YouTube's specialty videos. The service would apply to about 50
channels and charge viewers as little as $1.99 per month.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) are both about 0.6% higher and both have hit fresh 52 week
In sector news, Energy XXI (EXXI) is up more than 3% after
saying it will boost its dividend by 71% to $0.12 a share and
directors authorized a share buyback program of up to $250 million
worth of common stock. The news outweighed disappointing Q3
earnings of $0.46 per share, ex one-time items, versus the Capital
IQ consensus of $0.48. Revenues were $303.8 million, versus the
analyst estimate of $314.29 million. Production for the quarter
averaged 43,500 BOE/d net, compared with 45,300 BOE/d net in the
same quarter last year. Oil volumes averaged 28,600 barrels per day
June crude is up 0.39%; July natural gas is down 0.93%. United
States Oil Fund (USO) is up 0.6%. United States Natural Gas Fund
(UNG) is down 1.3%.
June gold is flat and silver for July delivery is down 0.64%.
Among rare metal funds, SPDR Gold Trust (GLD) is down 0.1%; iShares
Silver Trust (SLV) is down 0.6%.
Healthcare ETFs Health Care SPDR (XLV) and Vanguard Health Care
ETF (VHT) are leaning lower, while iShares Dow Jones US Healthcare
(IYH) is flat. Biotech ETF iShares NASDAQ Biotechnology Index (IBB)
is also slightly lower.
In corporate news, Sagent Pharmaceuticals (SGNT) announced an
agreement to acquire the 50% interest of its joint venture partner,
Chengdu Kanghong Pharmaceuticals, in the Kanghong Sagent
Pharmaceutical Corporation Limited joint venture, for $25 million.
The deal is payable in installments through September 2015. Upon
completion of the acquisition, KSCP will become a wholly-owned
subsidiary of Sagent. The shares are up more nearly 2%.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) are all weaker.
In sector news, Tyson Foods (TSN) is down 4.5% after it posted
Q1 adjusted EPS was $0.36 compared to $0.44 last year, which it
said was disappointing but said it still thought full year earnings
would better last year's. That performance missed the Cap IQ
consensus of $0.45. Q1 net income came in at $95 million, down from
$166 million last year.
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