Active broad market exchange-traded funds at mid-day:
iShares MSCI Japan Index (
): +1.70%, with a new 52-week high of $11.40
SPDR S&P 500 (
): +0.41%, with a new 52-week high of $159.71
iPath S&P 500 VIX Short Term Futures TM (
): -0.53%, with a new 52-week low of $18.38
iShares MSCI Emerging Markets Index (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were mostly higher. Actively traded PowerShares QQQ (
) is down 0.06%.
U.S. stocks extended their rally into session's half, boosted by
the Labor Department's report that weekly initial jobless claims
dropped 42,000 to 346,000, beating the Briefing.com consensus of
365,000. Continuing claims declined 12,000 to 3.08 million, about
the same as the forecasts of 3.085 million. Meanwhile, March export
prices slipped 0.4%, versus February's 0.6%. March import prices
dropped 0.5%, compared with the flat reading in February. The Tech
sector, however, lagged behind the broader market, after the IDC
reported significant declines in PC sales.
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.49%, with a new
52-week high of $18.64. Direxion Daily Financial Bull 3X shares
(FAS) was up 1.27%, with a new 52-week high of $58.60. Its bearish
counterpart, FAZ, was down 1.4%, with a new 52-week high of
Among financial stocks, Commerce Bancshares (CBSH) was down
2.59% after it reported earnings of $.67 per share for Q1 2013
compared to $.70 per share in the Q1 2012, or a decrease of 4.3%.
Analysts had expected $0.68 per share. Net income for Q1 was $61
million, compared to $65.8 million in the same quarter last
were mostly lower: Technology Select Sector SPDR ETF (XLK), down
0.59%; iShares Dow Jones US Technology ETF (IYW), down 1.01%;
iShares S&P North American Technology ETF (IGM), down 0.63%;
and iShares S&P North American Technology-Software Index (IGV),
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 0.28% and Semiconductor Sector Index Fund (SOXX) was down
SPDR S&P International Technology Sector ETF (IPK) was up
In sector news, Intel (INTC), Microsoft (MSFT) and HP (HPQ)
continued to log losses in mid-day action, following the
International Data Corporation (IDC) report on declining PC
shipments. Worldwide PC shipments totaled 76.3 million units in the
first quarter of 2013 (1Q13), down 13.9% compared to the same
quarter in 2012 and worse than the forecast decline of 7.7%,
according to the IDC Worldwide Quarterly PC Tracker.
The extent of the year-on-year contraction marked the worst
quarter since IDC began tracking the PC market quarterly in 1994.
The results also marked the fourth consecutive quarter of
year-on-year shipment declines, IDC said. INTC shares were down
2.61%; MSFT shares were down 4.89%; and HPQ shares were down
Dow Jones U.S. Energy Fund (IYE) was up 0.02% and Energy Select
Sector SPDR (XLE) was up 0.19%.
In sector news, Penn Virginia (PVA) was up 6.44% after the
company commenced a cash tender offer to purchase any and all of
its $300 million in outstanding aggregate principal amount of
10.375% senior notes due 2016.
In connection with the offer, PVA is soliciting consents to
proposed amendments that would shorten to three business days the
minimum notice period for optional redemptions and eliminate
substantially all restrictive covenants and certain default
provisions contained in the indenture governing the 2016 Senior
Crude was down 1.33%; natural gas was up 0.91%. United States
Oil Fund (USO) was down 1.24%. United States Natural Gas Fund (UNG)
was up 0.9%.
Gold was up 0.38%. Silver was also lower, down 0.94%. Among rare
metal funds, SPDR Gold Trust (GLD) was up 0.59%; iShares Silver
Trust (SLV) was up 0.67%.
Healthcare ETFs were in the green: Health Care SPDR (XLV), up ,
with a new 52-week high of $47.88; Vanguard Health Care ETF (VHT),
up 0.89%, with a new 52-week high of $85.81; and iShares Dow Jones
US Healthcare (IYH), up 0.87%, with a new 52-week high of $100.13.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was also
higher, up 1.19%, with a new 52-week high of $167.47.
In corporate news, ACADIA (ACAD) was up 48.92%, trimming earlier
gains of more than 56% but reached a new 52-week high f $12.24. The
company said the U.S. Food and Drug Administration (FDA) has agreed
that the data from the pivotal Phase III -020 study, together with
supportive data from other studies with pimavanserin, are
sufficient to support the filing of a New Drug Application (NDA)
for the treatment of Parkinson's disease psychosis (PDP). As a
result, ACADIA will no longer conduct the Phase III -021 study that
was planned as a confirmatory trial and was scheduled to be
initiated later this month.
Power Play -
Consumer ETFs and stocks continued to see active trade at
mid-day, particularly those in the retail space, as several
retailers have begun reporting their same store sales figures for
the month of March 2013.
Consumer ETFs were higher: Consumer Staples Select Sector SPDR
(XLP), up 0.54%,
with a new 52-week high of $40.65; iShares Dow Jones US Consumer
Goods (IYK), up 0.72%, with a new 52-week high of $86.38; and
Vanguard Consumer Staples ETF (VDC), up 0.55%, with a new 52-week
high of $102.76.
Retail ETFs were showing sharp gains: SPDR S&P Retail (XRT),
up 2.47%, with a 52-week high of $73.35 and PowerShares Dynamic
Retail (PMR), up 1.95%, with a new 52-week high of $28.81. Market
Vectors Retail ETF (RTH) was lower, down 1.44% but reached a new
52-week high of $50.53.
In sector news, Rite Aid (RAD) continued to climb and was up
17.88%, touching a new 52-week of $2.15. The retail drugstore chain
reported Q4 earnings of $0.13, vs. a year ago loss of $0.18 per
share. Revenue was $6.5 bln, down from $7.1 bln last year. The
analyst consensus on Cap IQ called for earnings of $0.01 per share
on $6.41 bln in revenue.
Rite Aid said it expects sales to be between $24.9 billion and
$25.3 billion in fiscal 2014 with same store sales expected to
range from a decrease of 0.75 percent to an increase of 0.75
percent over fiscal 2013. Net income for fiscal 2014 is expected to
be between $45 million and $200 million or income per diluted share
of $0.04 to $0.20. The Street view is $25.18 bln in revenue and
earnings of $0.02 per share.
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