Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 (
): -0.2%, has turned negative, but at end of year range
iShares MSCI Emerging Markets Index (
iShares MSCI Japan Index Fund (
Select Financial Sector SPDR (
): -0.3% from near year highs
Select Sector SPDR Fund Utilities (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed to lower. Utilities funds, such as Vanguard
Utilities ETF (VPU) are among the best performers, while emerging
markets funds are mostly lower on concern over global growth. Funds
shorting emerging markets are higher, with ProShares Ultrashort
MSCI Brazil (BZQ) up more than 4%. Actively traded PowerShares QQQ
(QQQ) has now turned slightly positive and edging towards year
U.S. stocks are fluctuating, but have recovered from an early
dip after the Commerce Department reported that April consumer
spending in the U.S. slipped 0.2% on a seasonally adjusted basis -
the sharpest decline in nearly a year and more than the expected
0.1% decline, according to analysts polled by MarketWatch. Personal
income also dipped less than 0.1% in April, missing the forecast of
a 0.2% gain.
Winners and Losers
Select Financial Sector SPDRs (
) is down 0.25%, but remains near its year high. Direxion Daily
Financial Bull 3X shares (FAS) is down 0.4%. Its bearish
counterpart, FAZ, is up 0.5% at near $31.80, but still close to its
year low of $30.25.
Among financial stocks, American Realty Capital Properties Inc.
(ARCP) is down 3.7% after it said it entered into an agreement to
purchase from GE Capital a $807 million portfolio of 471 net lease
properties comprised primarily of nationally recognized
restaurants. The 471 property portfolio includes assets net leased
to tenants who operate restaurants including: IHOP, Jack in the
Box, Golden Corral, Burger King, Arby's, Taco Bell, Applebee's,
Wendy's, Logan's Roadhouse, and Denny's. These 10 national brands
constitute approximately 64% of the net operating income of the
portfolio to be acquired.
Technology Select Sector SPDR ETF (XLK) is up 0.2% and came close
to a year high; iShares Dow Jones US Technology ETF (IYW) is up
0.35% and ditto; iShares S&P North American Technology ETF
(IGM) has turned slightly lower now, down from near year highs; and
iShares S&P North American Technology-Software Index (IGV) is
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 0.33%
and hit fresh year highs and Semiconductor Sector Index Fund (SOXX)
is down the same percentage, but close to its 52-week highs.
SPDR S&P International Technology Sector ETF (IPK) is now
flat, having been down 1.39%.
Uni-Pixel (UNXL) shares are now down more than 20% after a
Seeking Alpha contributor questioned the quality of the company's
UniBoss touch-screen product. The contributor said the product
doesn't work as it should. "In addition to testing UniBoss
ourselves, we have spoken with engineers at touch screen companies
who have tested UniBoss. They cite fundamental problems related to
its electrical properties and optical quality," the report
Dow Jones U.S. Energy Fund (IYE) is 0.3% lower and Energy Select
Sector SPDR (XLE) is down 0.4%, but both remain at the high end of
their respective year ranges.
In sector news, MagneGas (MNGA) shares have crashed more than
20% after the company priced its underwritten public offering of
2.4 million shares of its common stock and warrants to purchase
593,074 shares of its common stock. Each share of common stock and
related warrant will be sold at a combined price to the public of
$0.90, for gross proceeds of $2.1 million.
July crude is down 1%; July natural gas is up 0.62%. United
States Oil Fund (USO) is down 0.5%. United States Natural Gas Fund
(UNG) is flat.
August gold is down 1.36% and silver for July delivery is down
2.16%. Among rare metal funds, SPDR Gold Trust (GLD) is down 1.25%
and remains towards the bottom of its 52-week range; Market Vectors
Gold Miners ETF (GDX) is down 2.3%; and iShares Silver Trust (SLV)
is down 1.7%.
Healthcare ETFs Health Care SPDR (XLV) is off 0.69%, Vanguard
Health Care ETF (VHT) has fallen 0.55%, and iShares Dow Jones US
Healthcare (IYH) is down 0.4%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) is down 0.69%.
Alliance Healthcare Services (AIQ) is up more than 8% and
earlier hit a year high of $16.95 after the provider of patient
diagnostic imaging and radiation therapy services said it had
secured an agreement with creditors for new financing that will
save the company $12 million in interest annually.
The new term loan, which will save the company $7 million this
year, carries a rate of 3.25% over Libor, compared with 5.25% on
its prior facility.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP) is down
0.8%, iShares Dow Jones US Consumer Goods (IYK) is off 0.5%, and
Vanguard Consumer Staples ETF (VDC) is 0.75% lower.
In sector news, Krispy Kreme Doughnuts Inc. (KKD) is up 16% and
earlier hit a year high of $16.92 after the company reported Q1
earnings of $0.20 per share, better than analyst estimates of $0.11
per share, and higher than Q1 2012 earnings of $0.14 per share.
Revenues of $120.6 million were better than analyst estimates of
$116.4 million and higher than revenues of $108.5 million reported
in the prior year period. KKD raised its fiscal 2014 outlook for
adjusted earnings per share for fiscal 2014 to between $0.59 and
$0.63 compared to the previous range of $0.53 to $0.57. Analysts
are expected earnings per share of $0.38.
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