Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
iPath S&P 500 VIX Short Term Futures (
Financial Select Sector SPDR (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed to lower. Actively traded PowerShares QQQ (QQQ)
is down 0.23%.
U.S. stocks continue to be flat to slightly higher at session's
half, ahead of the Memorial Day weekend, despite upbeat consumer
sentiment data, with the University of Michigan-Thomson Reuters
consumer sentiment index rising to the highest level since October
2007. Hopes of slipping firmly into the positive territory on EU
leaders supporting joint euro-area bonds and a potential stimulus
from the European Central Bank have soured somewhat as European
debt woes continue to loom.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.11%. Direxion Daily Financial Bull 3X shares (FAS) is
down 0.1%. Its bearish counterpart, FAZ, is down 0.04%.
Among actives: Bank of America (BAC) is up 0.35%, Goldman Sachs
(GS) is up 0.53%, Morgan Stanley (MS) is up 0.5%, Citigroup (C) is
Bank of America (BAC) and Barclays (BCS) have agreed to sell
their remaining 26.5% interest in Archstone, a privately-held
owner, operator and developer of multifamily apartment properties,
for $1.58 bln to Lehman Brothers Holdings and Equity Residential,
pursuant to Lehman's exercise of its right of first offer. The
companies will pay an $80 mln break-up fee to Equity Residential if
the sale to Lehman closes. Upon consummation of this transaction,
which is anticipated to occur in Q2, BAC and Barclays will have
sold a 53% controlling interest in Archstone in two steps for a
total purchase price of $2.905 bln. BCS is down 1.63%.
Among tech actives: Apple (AAPL) is down 1%; Microsoft (MSFT) is
up 0.33%; Intel (INTC) is up 0.2%; Google (GOOG) is down 2.1%;
Cisco (CSCO) is up 0.24%; Yahoo (YHOO) is up 0.3%.
Alibaba.com Ltd, the Hong Kong-listed unit of China's Alibaba
Group, says that 83.8% of its shareholders have approved a $2.5
billion buyout offer by the parent to take the company private.
Alibaba Group, in which Yahoo Inc (YHOO) owns a 40% stake, is
offering investors HK$13.50 ($1.74) per share in cash to take
Alibaba.com private, the same price as the company's initial public
offering in 2007. Earlier this week, YHOO and Alibaba reached an
agreement for Yahoo to sell as much as half of its 40% stake in
Alibaba Group for $7.1 billion.
Mentor Graphics (MENT) is down 15.2% after the company reported
Q1 sales of $247.9 million, below the Thomson Reuters mean for
$254.95 million. Non-GAAP EPS were $0.30, above estimates for a
quarter. FY13 non-GAAP EPS are now seen at $1.37, up a nickel from
prior guidance. Sales are seen about $1.1 billion. For Q2, it sees
sales of about $240 million and non-GAAP EPS of $0.17.
In the ETF space, iShares Dow Jones US Technology ETF (IYW) is
down 0.14%; Technology Select Sector SPDR ETF (XLK) is down 0.11%;
and iShares S&P North American Technology ETF (IGM)is flat.
iShares S&P North American Technology-Software Index (IGV) is
SPDR S&P Semiconductor (XSD) is up 1.23% and Semiconductor
Sector Index Fund (SOXX) is up 1.26%.
SPDR S&P International Technology Sector ETF (IPK) is
Crude is up 33 cents or 0.36% at $90.99 a barrel. United States
Oil Fund (USO) is up 0.06% at $34.28. Natural gas is down 3.47% at
$2.62. United States Natural Gas Fund (UNG) is down 3.72% at
Gold is up $8.20 at $1,568.00 an ounce. SPDR Gold Trust (GLD) is
up 0.42% at $152.04. Silver is up 0.37% at $28.26 a pound. iShares
Silver Trust (SLV) is up 0.07% at $27.46.
Health Care SPDR (XLV) is up 0.19%; iShares NASDAQ Biotechnology
Index (IBB) is up 0.31%; Vanguard Health Care ETF (VHT) is up
0.38%; and iShares Dow Jones US Healthcare (IYH) is up 0.05%.
Delcath Systems (DCTH) shares are down 37% and have hit a new
year low, adding to losses of more than 20% after the medical
device and drug company announced plans for a public offering of
stock and warrants. DCTH did not specify how many shares it intends
to sell but the offering is authorized under the company's Feb. 6
shelf registration allowing it to sell up to $100 million of debt
and equity. DCTH plans to use proceeds for research and
development, clinical trials, product commercialization, seeking
regulatory approvals as well as other corporate purposes. The
company currently is developing its so-called chemosaturation
system, designed to administer large doses of chemotherapy and
other therapeutic agents to diseased organs or tissues. Its initial
focus is treating primary and metastatic liver cancers.
Vertex Pharmaceuticals (VRTX) is up more than 1% after it
announced that the European Committee for Medicinal Products for
Human Use (CHMP) has issued a positive opinion recommending
approval of KALYDECO for people with cystic fibrosis (CF) ages 6
and older who have at least one copy of the G551D mutation in the
cystic fibrosis transmembrane conductance regulator (CFTR)
iShares Dow Jones Transportation Average (IYT) is down 0.21%
while SPDR Series Trust - Transportation ETF (XTN) is up 1.07%. The
Guggenheim Shipping ETF (SEA) is up 0.75%.
Frontline (FRO) continues to climb, up more than 10% after
posting Q1 EPS of $0.09. The Street had been expecting a loss per
share of $0.10. Revenue for the quarter came in at $167.29 million,
far ahead of the $91.35 million consensus.
Among other shipping stocks also posting gains following FRO's
upbeat earnings report: Ship Finance International Ltd (SFL), up
7.66%; Navios Maritime Partners L.P. (NMM), up 4.66%; and Overseas
Shipholding Group Inc. (OSG), up 4.6%.