Mid-Day ETF Update: ETFs Retain Mild Gains; Stocks Edge Lower Following Mixed Economic Data

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Active broad-market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): +0.1%

iShares MSCI Emerging Markets Index ( EEM ): +0.52%

Financial Select Sector SPDR ETF ( XLF ): +0.2%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -0.4%, close to year lows

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.2%

Broad Market Indicators:

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are holding on to modest gains. Actively traded PowerShares QQQ ( QQQ ) is up 0.2%.

U.S. stocks are edging lower after a new round of mixed economic data overshadowed the upbeat jobs data released earlier. The Mortgage Bankers Association reported that mortgage delinquencies rose in Q2. Home prices rose strongly in the most recent quarter. The Bloomberg Consumer Confidence Index was reported to be down to its lowest level since May. Earlier, investors were heartened by the Department of Labor's report that first-time jobless claims last week falling more than expected. The June trade deficit also narrowed to the smallest gap since December 2010.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is now up 0.1%. Direxion Daily Financial Bull 3X shares (FAS) is now up 0.2%. Its bearish counterpart, FAZ, is down 0.05%.

In corporate news, E*Trade Financial Corp. (ETFC) is up 6.5% after the online broker selected Board Chairman Frank J. Petrilli as interim CEO to replace Steven Freiberg, who is leaving the company. Petrilli, previously chief executive at Surge Trading inc. and Nexxar Group Inc., has been a ETFC director and chairman since January. He will retain his chairman duties during the search process for a permanent CEO. The company did not disclose why Freiberg left.

Dun & Bradstreet (DNB) is up 4% after it reported Q2 earnings of $1.50 per share, ex one-time items, versus the Capital IQ consensus of $1.42. In the same period last year, the company reported EPS of $1.35. Revenue came in at $383.9 mln, which is flat with revenue in the same quarter last year before the effect of foreign exchange. Analysts are looking for $394.56 mln. The company maintains its FY12 outlook for core revenue growth of 0% to 3%, before the effect of foreign exchange; operating income growth of 4% to 7%, before non-core gains and charges; and diluted EPS growth at the high-end of its original range of 8% to 11%.

Fifth Street Finance Corp. (FSC) is down 1.3% after it reported FQ3 EPS of $0.27, compared to $0.25 last year and in-line with expectations. The company's board also declared monthly dividends for the next five months through February of 2013 of $0.0958.

Also in financial news, The Wall Street Journal reports that U.S. prosecutors have agreed to shield several former UBS AG (UBS) employees from criminal charges in return for their cooperation with the escalating investigation of suspected interest-rate manipulation. Shares of the bank are down 0.6% and about $1 above year lows.

Technology -

Tech ETFs are firmer: Technology SPDR ETF (XLK), up 0.20% near year highs; iShares Dow Jones US Technology ETF (IYW), up 0.5%; iShares S&P North American Technology ETF (IGM), flat; and iShares S&P North American Technology-Software Index (IGV) up 0.3%.

SPDR S&P Semiconductor (XSD) is up 0.7% and Semiconductor Sector Index Fund (SOXX) is up 0.6%. SPDR S&P International Technology Sector ETF (IPK) is flat.

In corporate news, Boingo Wireless (WIFI) is down 25% and nearing the 52-week low of $6.01, after the company reported late yesterday Q2 earnings of $0.04 per share, versus the Capital IQ consensus of $0.05. Revenues were $24.3 million, versus the analyst estimate of $25.7 million. The company expects Q3 EPS of $0.05 - $0.06, below the consensus of $0.08 on revenues of $25.5 million- $26.5 million, also below the consensus of $28.9 million. For FY12, the company expects EPS of $0.22 - $0.27 on revenues of $108 million-$111 million, compared with the Street forecast of $0.28 EPS on revenues of $111.23 million.

Cisco (CSCO) is up 2.5%. Shares were upgraded to Overweight from Neutral at Piper Jaffray. Price target was raised to $22 from $20.

Nokia (NOK) is up 3.4% after it agreed to sell its Qt software business to Finnish IT services firm Digia Oyj as part of its strategy to sell off non-core assets, according to Reuters. The companies did not disclose the value of the deal, which analysts said was a fraction of the $150 million Nokia paid for Norway's Trolltech in 2008, the report said.

Energy -

Dow Jones U.S. Energy Fund (IYE) is up 0.6% while Energy Select Sector SPDR (XLE) is up 0.6%.

Robbins & Myers, Inc. (RBN) is up 27% and touched a new year high of $59.75 after it announced it has entered into an agreement under which National Oilwell Varco, Inc. (NOV) will acquire Robbins & Myers in an all cash transaction that values Robbins & Myers at approximately $2.5 billion. Under the agreement, Robbins & Myers' shareholders will receive $60.00 per share in cash in return for each of the approximately 42.4 million shares outstanding. NOV shares are up 0.9%.

Northern Oil & Gas (NOG) is up 1.7% after it reported Q2 non-GAAP earnings of $0.22 per share, versus the Capital IQ consensus of $0.23. Revenues were $119.2 mln, versus the analyst estimate of $68.67 mln. In the same period last year, the company reported EPS of $0.12 on revenues of $50.83 mln. The company also reported quarterly production of 947,468 barrels of oil equivalent, or 10,412 average Boe per day.

Commodities -

Crude was up 0.27%. United States Oil Fund (USO) is up 0.2%. Natural gas was up 4.4%. United States Natural Gas Fund (UNG) is up 3.6%.

Gold is up 0.03% while silver was down 0.14%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.2% and iShares Silver Trust (SLV) is up 0.3%.

Among stocks, Randgold Resources (GOLD) is up 3.5% after it reported Q2 GAAP earnings of $1.28 per share, versus the Capital IQ GAAP consensus of $1.35. Revenues were $345.4 mln, versus the analyst estimate of $356.23 mln. In the same period last year, the company reported EPS of $1.24 on revenues of $321.7 mln.

Silver Standard Resources (SSRI) is up 2.8% after it reported a Q2 loss of $0.02 per share, ex one-time items, versus the Capital IQ consensus of $0.04 loss per share. Revenues were $42.4 mln, versus the analyst estimate of $40.9 mln.

Healthcare -

Healthcare and biotech ETFs are seeing some losses in mid-day action: Health Care SPDR (XLV), down 0.03%; iShares NASDAQ Biotechnology Index (IBB), flat; Vanguard Health Care ETF (VHT), down 0.01%; and iShares Dow Jones US Healthcare (IYH), now slightly higher.

Among stocks in the sector, Genomic Health (GHDX) is up 14% after the company reported in Wednesday's evening session that Q2 EPS was $0.06, versus the Capital IQ consensus of $0.02 loss per share. Revenues were $57.6 mln, below the $58.31 mln analysts are looking for. The company expects FY12 revenues to be $230 mln - $240 mln, in line with the consensus of $238.83 mln.

Allscripts (MDRX) shares are up 18.65% following the company's after hours report that Q2 revenue was $370.7 mln, vs. the analyst consensus of $369.6 mln on Capital IQ. EPS was $0.16, vs. expectations of $0.18 per share. For 2012, the company expects revenue of $1.48 to $1.52 bln and EPS of $0.77

to $0.83. The Street is at $1.49 bln in revenue and EPS of $0.74.

Viropharma (VPHM) is up 3.22% after it reported Q2 earnings of $0.09 per share, ex one-time items, versus the Capital IQ consensus of $0.19. Revenues were $94.6 mln, versus the analyst estimate of $105.11 mln. The company expects FY12 revenues of $450 mln - $475 mln, in line with the $450.33 mln analysts are looking for.

RadNet (RDNT) is up 5.2% after reporting Q2 earnings of $0.07 per share, ex one-time items, in line with the Capital IQ consensus of $0.07. In the same period last year, the company reported EPS of $0.09. Revenues, excluding provision of bad debts, was up 11.9% to $165.3 mln, from last year's $147.7 mln. This may not be comparable to the consensus of $168.72 mln. The company expects FY12 revenues of $648 mln - $688 mln, in line with the consensus of $665.72 mln.

Power Play -

Consumer -

ETFs in the space are lower: Consumer Staples Select Sector SPDR (XLP) is down 0.47%; iShares Dow Jones US Consumer Goods (IYK), down 0.24%; and Vanguard Consumer Staples ETF (VDC), down 0.43%.

SPDR S&P Retail (XRT) is down 0.38%; PowerShares Dynamic Retail (PMR), up 0.24%; and Market Vectors Retail ETF (RTH), down 0.30%.

Among stocks, Monster Beverage (MNST) is down 8.2% after it reported Q2 2012 revenue of $592.6 million and EPS of $0.59. The Capital IQ analyst consensus called for EPS of $0.61 on revenue of $596.12 million.

The Wendy's Company (WEN) is up 1.3% after it reported Q2 revenue of $645.9 mln, below the analyst consensus of $647.5 mln on Capital IQ. Adjusted EPS was $0.05, in line with expectations. The company is reaffirming its 2012 outlook for Adjusted EBITDA from continuing operations in a range of $320 million to $335 million.

Elizabeth Arden (RDEN) is up 6.7% and has hit a new 52-week high of $47.50 after it today reported Q4 earnings of $0.28 per share, ex one-time items, versus the Capital IQ consensus of $0.20. Revenues were $265.5 mln, versus the analyst estimate of $263.82 mln. The company expects Q1 EPS of $0.38 - $0.43 on revenues of $330 mln - $340 mln, compared with the consensus of $0.37 EPS on revenues of $317.30 mln. The company projects FY13 EPS of $2.55 - $2.70 on revenue growth of 13.5% to 15% year over year. Analysts are looking for EPS of $2.38.

Brinker International (EAT) is up 6% and has hit a 52-week high after reporting Q4 earnings of $0.61 per share, better than the analyst consensus of $0.58 per share on Capital IQ. Revenue was $728.4 mln, vs. expectations of $733.82 mln. For FY 2013, the company said it is confident it can deliver on its long-term promise to double EPS to $2.75 to $2.80 per share.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: EEM , QQQ , SPY , VXX , XLF

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