Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iPath S&P 500 VIX Short Term Futures TM (
): +4.5%, earlier neared year low
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series 1 (
iShares MSCI Emerging Markets Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mostly firmer. Actively traded PowerShares QQQ (
) is up 0.15%.
U.S. stocks continue to post gains, getting a positive lift from
upbeat economic data, with U.S. retail sales for July jumping 0.8%,
better than expected, and wholesale prices rising 0.3%, also above
forecasts. National chain store sales slipped 0.3% in the first two
weeks of August from July, according to Redbook Research's latest
indicator, a narrower decline than anticipated.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.2%. Direxion Daily
Finacial Bull 3X shares (FAS) is up 0.9%. Its bearish counterpart,
FAZ, is down 0.9%.
In financial news, Nationstar Mortgage Holdings Inc. (NSM) is up
7% and has hit new year highs, reversing earlier losses of some 2%
after it reported second quarter 2012 net income of $36.3 million,
or $0.41 per share, on revenues of $200 million. In the same period
last year, net income was $50.2 million, or $0.67 per share, on
revenues of $161.7 million. No analyst estimates were available for
Kennedy-Wilson Holdings, Inc. (KW) is down 0.2% after the
company announced that it and its partner, the European Commercial
Real Estate Group of Deutsche Bank AG (DB), acquired an Irish loan
portfolio with an unpaid principal balance of 361 million EUR ($567
ETFs in the space are lower: Technology Select Sector SPDR ETF
(XLK), down 0.1%, off year highs; iShares Dow Jones US Technology
ETF (IYW), up 0.03%; and iShares S&P North American
Technology-Software Index (IGV), down 0.6%. iShares S&P North
American Technology ETF (IGM) is flat.
SPDR S&P Semiconductor (XSD) is down 0.5%; and Semiconductor
Sector Index Fund (SOXX) is down 0.3%.
SPDR S&P International Technology Sector ETF (IPK) is
Among stocks, Envivio Inc (ENVI) is down 57% and has hit new
year lows after the video delivery company slashed its Q2 revenue
outlook, citing weak spending by telecom carriers in North America
and Western Europe. It now sees sales in a range of $10 million to
$11 million, down $7 million from its prior forecast range. Goldman
Sachs cut ENVI to Neutral from Buy and dropped the stock from its
Americas Buy List. Stifel Nicolaus halved its price target to
Velti (VELT) is up 12% after the mobile marketing company late
yesterday reported a Q2 loss of $0.01 per share, in line with the
Capital IQ consensus of $0.01 loss per share. Revenues were $58.7
mln, versus the analyst estimate of $56.89 mln. The company expects
Q3 revenues of $60 mln - $64 mln, in line with the consensus of
$61.14 mln. For FY12, the company anticipates revenues of $285 mln
- $296 mln, also in line with the Street consensus of $290.93
Cellcom Israel (CEL) is up 9.3% after it reported Q2 2012
revenue of $1.49 billion, a 5.7% decrease from the comparable
period in 2011, and below the Street view of $1.56 billion. Net
income weighed in at $31 million, a 50.4% decrease from Q2 2011.
The company reported diluted EPS of $1.22 for the period, above the
Capital IQ consensus of $0.98.
Groupon, Inc. (GRPN) is down 26%, sinking to new year lows after
it reported late yesterday Q2 revenue of $568.3 mln, up from $392.6
mln realized the same quarter last year but under analyst estimates
of $573.13 mln. GRPN reported earnings of $0.08 per share for the
quarter, up from a loss of $0.23 per share seen in the same period
last year and over consensus estimates of $0.03. For Q3, the
company is expecting revenue to be between $580 million and $620
million for the quarter, straddling analyst consensus of $604.49
Crude was are up 0.37%. United States Oil Fund (USO) is up 0.5%.
Natural gas was up 3.55%. United States Natural Gas Fund (UNG) is
Gold was down 0.47%; Silver was down 0.10% . Among rare metal
funds, SPDR Gold Trust (GLD) is down 0.4% and iShares Silver Trust
(SLV) is up 0.11%.
Heathcare and biotech stocks are firmer: Health Care SPDR (XLV),
up 0.18% to near year highs; iShares NASDAQ Biotechnology Index
(IBB), up 0.7%; Vanguard Health Care ETF (VHT), up 0.23% to near
year highs; and iShares Dow Jones US Healthcare (IYH), up 0.47% to
near year highs.
WuXi Pharmaceuticals (WX) is up 2.24% and nearer year highs
after it reported late Monday net Q2 revenues of $130.4 million,
better than the Capital IQ analyst consensus of $128.25 million and
non-GAAP diluted earnings per ADS of $0.33, $0.03 above the analyst
expectation. The company increased its FY 2012 revenue guidance to
$488-$498 million, above the current Street view of $486.22
Array BioPharma (ARRY) is up 5.5% after it reported in
yesterday's after-hours session Q4 revenue of $20.7 million,
compared to revenue of $19.0 million for the same period in fiscal
2011. Array reported a net loss of $8.0 million, or $0.09 per share
for the period, compared to a net loss of $21.8 million, or $0.38
per share, for the same period last year. The Capital IQ consensus
estimate anticipated a loss of $0.11 per share on revenue of $21.37
Power Play -
ETFs in the space are edging higher at mid-day: Consumer Staples
Select Sector SPDR (XLP), up 0.36% to near year highs; iShares Dow
Jones US Consumer Goods (IYK), up 0.43%; and Vanguard Consumer
Staples ETF (VDC), up 0.5%.
SPDR S&P Retail (XRT) is up 0.5%; PowerShares Dynamic Retail
(PMR), up 0.33%; and Market Vectors Retail ETF (RTH), up 0.61%.
Estee Lauder (EL) is up 10% after it reported Q4 adjusted
earnings of $0.17 per share, versus the Capital IQ consensus of
$0.16. Revenues were $2.25 bln, versus the analyst estimate of
$2.22 bln. For Q1, the company expects adjusted EPS of $0.71 -
$0.77, ex one-time items, versus the consensus of $0.79; it expects
revenues to grow 5% - 7% year-over-year, on a constant currency
basis. For FY13, the company expects adjusted EPS of $2.44 - $2.56,
below the consensus of $2.59. Revenues are expected to increase 6%
- 8% year-over-year, on a constant currency basis.
Michael Kors (KORS) is up 14% after it reported Q1 earnings of
$0.34 per share, versus the Capital IQ consensus of $0.20. Revenues
were $414.9 mln, versus the analyst estimate of $367.96 mln. The
company expects Q2 EPS of $0.33 - $0.35 on revenues of $490 mln -
$500 mln, versus the consensus of $0.27 on revenues of $422.23 mln.
For FY13, the company raises its EPS outlook to $1.32 - $1.34 from
$1.08 - $1.12, above the analyst estimate of $1.12; it now expects
revenues to be $1.8 bln - $1.9 bln, up from the prior guidance of
$1.7 bln - $1.8 bln, also above the Street view of $1.78 bln.
Dick's Sporting Goods (DKS) is now down 3.7% after reporting Q2
earnings of $0.65 per share, ex one-time items, versus the Capital
IQ consensus of $0.63. Revenues were $1.44 bln, versus the analyst
estimate of $1.43 bln. The company also reported a consolidated
same store sales increase of 3.8%. DKS expects Q3 EPS of $0.36, in
line with the analyst estimate of $0.36. For FY12, it raises its
EPS outlook to $2.47 - $2.51, ex non-recurring items, from $2.45 -
$2.48, in line with the consensus of $2.51. It also anticipates
comp sales to increase 4% - 5%, from the prior growth outlook of 3%