Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iPath S&P 500 VIX Short Term Futures TM (
Financial Select Sector SPDR (
): +1.2%, near 52 week highs.
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mostly firmer. Actively traded PowerShares QQQ (QQQ) is
U.S. stocks are higher, rallying on the report that pending home
sales rose 4.5% in January - the highest level since April 2010,
according to MarketWatch. Also helping lift market sentiment, Fed
Chair Bernanke, in his testimony before Congress, reiterated the
central bank's continuing support for its bond buying program. The
upbeat home sales data and Bernanke's comments offset the earlier
report that January durable goods orders decreased by 5.2%, worse
than the 3.5% decrease economists had expected, according to
Briefing.com. Excluding transportation related items, durable goods
orders increased by 1.9%, above the 0.2% growth forecasts. A number
of retailers are in focus following their earnings reports, such as
J.C. Penney (JCP), Target (TGT) and Dollar Tree (DLTR).
Winners and Losers
Select Financial Sector SPDRs (
) is up 1.15%, near its 52-week high. Direxion Daily Financial Bull
3X shares (FAS) is up 3.1%. Its bearish counterpart, FAZ, is down
3.1% and near 52 week lows.
Among financial stocks, Starwood Property Trust (STWD) is up 4%
and earlier touched a new year high of $27.71 after it reported Q4
diluted EPS of $0.48, up from $0.42 a year prior. The Street was
looking for EPS of $0.42.
are firmer at mid-day: Technology Select Sector SPDR ETF (XLK), up
0.7%; iShares Dow Jones US Technology ETF (IYW), up 0.6%; iShares
S&P North American Technology ETF (IGM), up 1%; and iShares
S&P North American Technology-Software Index (IGV), up
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.4%
and Semiconductor Sector Index Fund (SOXX) is up 1.6%. SPDR S&P
International Technology Sector ETF (IPK) is up 0.29% and nearer to
52 week highs.
In sector news, Guidewire (GWRE) is now up near 20% and near 52
week highs after the company late Tuesday reported Q2 revenues of
$72.2 mln, vs. the analyst consensus of $64.2 mln on Capital IQ.
EPS was $0.21, well ahead of expectations of $0.02 per share.
Dow Jones U.S. Energy Fund (IYE) is up 1.3% and Energy Select
Sector SPDR (XLE) is up 1.2%.
In sector news, First Solar Inc. (FSLR) is down 15% at $26.70
but above a day low $25.50. The company reported $1.1 bln in Q4 net
sales, up 62% from the the year-ago quarter but trailing analyst
forecasts by around $220 mln. Net income for the quarter was $2.04
per share, ahead of estimates for $1.76. For Q1, the company says
it sees EPS of $0.70-$0.90 on revenue of $650 to $750 million. The
Street is at EPS of $0.89 on revenue of $826.87 million.
April crude is up 0.01%; May natural gas is down 0.29%. United
States Oil Fund (USO) is up 0.4%. United States Natural Gas Fund
(UNG) is up 2.2%.
April gold is down 0.63% and silver for May delivery is down
0.61%. Among rare metal funds, SPDR Gold Trust (GLD) is down 1.1%;
iShares Silver Trust (SLV) is down 1.2%.
Healthcare ETFs are in the green: Health Care SPDR (XLV), up
0.9% and nearer to 52 week highs; Vanguard Health Care ETF (VHT),
up 1% and also nearer 52 week highs; and iShares Dow Jones US
Healthcare (IYH), up 0.9%. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB) is up 1.3%.
In corporate news, Zogenix (ZGNX) shares are soaring 33% higher
at $1.62 but are off a day high $1.87 after the company said
earlier it will likely not receive an action letter by the FDA
regarding approval for its Zohydro ER drug will likely be delayed
past the goal date of March 1. Under the performance goals set by
the FDA under PDUFA, the agency can miss the prescribed goal date
for approximately 10% of the NDAs that are submitted each year and
still meet the performance goals for review of priority and
standard applications. The FDA has not provided Zogenix with
information as to the reason for the possible delay, but has
indicated that the delay would likely be brief and may last only
Power Play -
Consumer ETFs are firmer: Consumer Staples Select Sector SPDR
(XLP), up 0.5% to near 52 week highs; iShares Dow Jones US Consumer
Goods (IYK), up 0.5%; and Vanguard Consumer Staples ETF (VDC), also
Retail ETFs are also higher: SPDR S&P Retail (XRT), up 1.7%;
PowerShares Dynamic Retail (PMR), up 0.66%; and Market Vectors
Retail ETF (RTH), up 1%, with a new year high of $46.42.
In sector news, Dollar Tree (DLTR) is now up 11.5% following the
company's report that Q4 sales were $2.25 bln, in line with the
analyst consensus on Capital IQ. EPS was $1.01, vs. expectations of
$0.99 per share. For Q1, the company estimates sales for the first
quarter of 2013 to be in the range of $1.84 billion to $1.89
billion, based on low single-digit positive comparable-store sales
and 6.8% square footage growth. Diluted earnings per share are
expected to be in the range of $0.53 to $0.58. The Street view is
$1.86 bln in sales and EPS of $0.58. For the full year, the company
estimates sales will range from $7.79 billion to $7.97 billion.
This estimate is based on low single-digit positive
comparable-store sales, and square footage growth of approximately
7.3% for the year. Fiscal year 2013 diluted earnings per share are
expected to be in the range of $2.54 to $2.74. The Street view is
$7.9 bln in sales and earnings of $2.81 per share.
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