Active broad market exchange-traded funds in Friday's regular
SPDR Trust Series I (
iShares MSCI Emerging Index Fund (
iPath S&P 500 VIX Short Term Futures (
iShares MSCI Japan Fund (
iShares Russell 2000 Index Fund (
Broad Market Indicators
Broad market exchange-traded funds, including SPY, IWM, IVV and
others, were mostly weaker at mid-day. Actively traded PowerShares
QQQ (QQQ) is down 0.54%.
The main U.S. market indices were mixed following a report that
U.S. gross domestic product increased at a 2.5% pace in Q1, up from
0.4% in Q4 but missing the forecast of 3.2% growth, according to
economists polled by MarketWatch. The Nasdaq and S&P 500 are in
the red, while the Dow Jones is clawing back into the green. A
separate report showing U.S. consumer confidence fell
less-than-expected failed to rally stocks. The Thomson
Reuters/University of Michigan index slid to 76.4 from 78.6 a month
earlier, compared with forecasts for a reading of 73.5. Earnings
continue to be in the spotlight, with Amazon (AMZN) and Starbucks
(SBUX) among both declining following their earnings reports.
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.74%. Direxion
Daily Financial Bull 3X shares (FAS) is down 1.47%. Its bearish
counterpart, FAZ, is up 1.57%.
Among financial stocks, WisdomTree Investments (WETF) was up
2.85% and hit a 52-week high of $11.72 after it reported Q1
earnings of $0.06 per share, matching the Capital IQ consensus
estimate. Revenues were $29.34 million, versus the analyst estimate
of $29.63 million. In the same period last year, the company
reported EPS of $0.01 on revenues of $19.17 million.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were lower, both down 0.75%
In sector news, National-Oilwell Varco (NOV) was down 2.7%, off
earlier lows after it reported Q1 earnings of $1.29 per share, ex
one-time items, versus the Capital IQ consensus of $1.37. Revenues
were $5.31 billion, versus the analyst estimate of $5.37 billion.
In the same period last year, the company reported EPS of $1.56 on
revenues of $4.3 billion.
June crude is down 1.55%; June natural gas was down 1.43%.
United States Oil Fund (USO) is down 0.87%. United States Natural
Gas Fund (UNG) is off 1.55 %.
June gold is down 0.42% and silver for July delivery was down
1.75%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.6%,
while the Direxion Daily Gold Miners Bull 3X (NUGT) shares was the
worst performer of the session, down 10%; iShares Silver Trust
(SLV) is down 2.43% and ProShares Ultra Silver (AGQ) is down
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares
Dow Jones US Healthcare (IYH) were all modestly lower at the mid
session. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) has
In corporate news, ImmunoGen (IMGN) was up 6.2% after reporting
a Q3 GAAP loss of $0.02 per share, versus the Capital IQ GAAP
consensus of $0.16 loss per share. Revenues were $25 million,
versus the analyst estimate of $13.36 million. The company expects
net loss for its FY13 to be between $76 million - $80 million,
worse than its prior projected net loss between $70 million - $74
Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares
Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples
ETF (VDC) were flat to slightly weaker, with IYK off 0.3%.
In sector news, Starbucks (SBUX) was down 1.4% after it reported
late Thursday Q2 revenues of $3.6 billion, vs. the analyst
consensus of $3.58 billion on Cap IQ. EPS was $0.51, including a
$0.03 per share gain. The Street view was $0.48 per share. The
company has raised its full-year earnings per share target range to
$2.12 to $2.18 from the previous target range of $2.06 to $2.15.
The Street is at $2.16 per share.
Amazon (AMZN) was off 7% after the company predicted
lower-than-expected revenue for the second quarter.
Tech ETFs Technology Select Sector SPDR ETF (XLK), iShares Dow
Jones US Technology ETF (IYW), iShares S&P North American
Technology ETF (IGM) were all lower with IGM down 0.78%. iShares
S&P North American Technology-Software Index (IGV) was bucking
the trend up 0.11%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) have both declined 1.3%.
SPDR S&P International Technology Sector ETF (IPK) was slightly
In sector news, Baidu (BIDU) was down 7.6% after reporting Q1
total revenues were $961.0 million, a 40% increase from the
corresponding period in 2012. That's short of the $967.00 million
the Street expected. Diluted earnings attributable to Baidu per ADS
excluding share-based compensation expenses (non-GAAP) for Q1 2013
were $1.00, short of the $1.03 EPS the Street expected. Baidu
currently expects to generate total revenues in an amount ranging
from $1.187 billion to $1.216 billion for Q2 2013, representing a
35.1% to 38.4% year-over-year increase. The Street expects $1.20
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