Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
): +1.2%, nearer 52 week highs.
iShares MSCI Japan Index (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continue to be firmer. Actively traded PowerShares QQQ
(QQQ) has turned positive and is now up 0.35%.
U.S. stocks have extended their gains with market watchers
optimistic following the Federal Reserve's policy announcement that
it will boost the size of its Treasury purchases by $45 bln, as
expected. The move was made as part of an effort to reduce the
"elevated" unemployment rate, according to a report on Market
Watch. Earlier, the markets saw gains after the Department of
Commerce reported that the U.S. import price index fell by 0.9%
while export prices rose 0.7% in November. Investors will now turn
their focus on Fed Chairman Ben Bernanke who will speak at a press
conference scheduled at 2:15 PM ET.
Winners and Losers
Select Financial Sector SPDRs (
) is up 1.2% and near 52 week highs. Direxion Daily Financial Bull
3X shares (FAS) is up 3%. Its bearish counterpart, FAZ, is down 3%
and has touched 52 week lows.
Among financial stocks, NorthStar Realty Finance Corp. (NRF) is
down near 4% after the firm priced its previously announced
underwritten public offering of 25,000,000 shares of common stock
at a public offering price of $6.40 per share. The offering is
expected to close on December 17, 2012.
are higher: Technology Select Sector SPDR ETF (XLK), up 0.36%;
iShares Dow Jones US Technology ETF (IYW), up 0.06%; iShares
S&P North American Technology ETF (IGM), up 0.04%; and iShares
S&P North American Technology-Software Index (IGV), up
Among Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up
0.04%, while Semiconductor Sector Index Fund (SOXX) is now up
SPDR S&P International Technology Sector ETF (IPK) is down
0.42% but still at high end of 52 week range.
In sector news, Geospace Technologies (GEOS) is now down 4.5%,
paring earlier losses. The company reported Q4 EPS of $0.33 on
revenues of $36.9 mln. Analysts polled by Capital IQ were expecting
EPS of $0.64 on revenues of $46.53 mln. This compares to the
prior-year period's EPS of $0.28 on revenues of $32.8 mln, and the
prior quarter's EPS of $0.84 on revenues of $55.2 mln. The company
attributed the sequential decline in its earnings and revenues to
its erratic order flow and the timing of shipments which is
dictated by its customers.
Dow Jones U.S. Energy Fund (IYE) is up 1.1% and Energy Select
Sector SPDR (XLE) is up 1.2%.
In sector news, Cobalt International Energy, Inc. (CIE) is down
6.4% after it announced today that it has priced its registered
underwritten public offering of $1,200,000,000 aggregate principal
amount of its 2.625% convertible senior notes due 2019. The
conversion rate will initially be 28.0230 shares of common stock
per $1,000 principal amount of the notes, subject to customary
Crude was up 1.08%; likewise, natural gas was up 0.35%. United
States Oil Fund (USO) is up 1.5%. But United States Natural Gas
Fund (UNG) has turned down and is now 0.7% lower.
Gold was up 0.29%; silver was up 0.84%. Among rare metal funds,
SPDR Gold Trust (GLD) is up 0.6%; iShares Silver Trust (SLV) is up
Consumer ETFs: Consumer Staples Select Sector SPDR (XLP), now up
0.24% and near 52 week highs; iShares Dow Jones US Consumer Goods
(IYK), up 0.03%, at year highs; and Vanguard Consumer Staples ETF
(VDC), now up 0.2% and nearer to 52 week highs.
Retail ETFs are weaker: SPDR S&P Retail (XRT), down 0.14%;
PowerShares Dynamic Retail (PMR), down 0.35%; and Market Vectors
Retail ETF (RTH), down 0.02% having earlier touched a new year high
In sector news, Central Garden & Pet (CENTA) is down 13%
after the company reported a Q4 loss of $0.21 per share, in line
with the Capital IQ consensus. Revenues were $397.2 mln, versus the
analyst estimate of $373.53 mln.
Power Play -
Healthcare ETFs are mostly higher: Health Care SPDR (XLV), up
0.4%, near year highs; Vanguard Health Care ETF (VHT), up 0.2%; and
iShares Dow Jones US Healthcare (IYH), up 0.4% to near 52 week
highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down
In corporate news, YM BioSciences (YMI) is up near 80% and
reached a new 52-week high of $2.92 after the company and Gilead
Sciences (GILD) announced a definitive agreement under which Gilead
will acquire YMI for U.S.$2.95 per share in cash. The transaction
has received the unanimous approval of YM's Board of Directors, and
values YM at approximately U.S.$510 million, with YM reporting
C$125.5 million in cash and cash equivalents as of September 30,
2012. Gilead plans to fund the acquisition with cash on hand. The
transaction is expected to close in the first quarter of 2013. GILD
shares are up 0.2% and also touched a new year high of $77.12.