Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR ETF (
iPath S&P 500 VIX Short Term Futures TM (
): -0.4%, close to year lows
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators:
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are holding on to modest gains. Actively traded PowerShares
) 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
Select Financial Sector SPDRs (
) 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
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
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
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
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.
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.
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
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 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
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
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
Power Play -
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
SPDR S&P Retail (XRT) is down 0.38%; PowerShares Dynamic
Retail (PMR), up 0.24%; and Market Vectors Retail ETF (RTH), down
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
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
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.
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