Active broad market exchange-traded funds in Wednesday's regular
SPDR Trust Series I (
iShares Russell 2000 Index Fund (
iShares MSCI Emerging Index Fund (
iPath S&P 500 VIX Short Term Futures (
inancial Select Sector SPDR (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continued to slip at mid-day. Actively traded PowerShares
QQQ (QQQ) was down 0.26%.
U.S. stocks extended their losses into the session's half,
weighed by lackluster earnings results from companies such as
MasterCard (MA) and Merck (MRK). Market sentiment also soured
following the report that the economy gained 119,000 private sector
jobs, according to Automatic Data Processing Inc., much less than
the 150,000 payroll jobs that economists had expected, according to
a poll by Market Watch.
March construction spending declined 4.1% while the April ISM
Index fell to 50.7 - both missed forecasts as well. Investors are
looking forward to the conclusion of the Federal Reserve Open
Market Committee's two-day policy meeting, and its policy
statement, scheduled for release at 2:15 pm ET.
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.59%. Direxion Daily Financial Bull 3X shares (FAS) was
down 1.7%. Its bearish counterpart, FAZ, was up 1.56%.
Among financial stocks, MasterCard (MA) was down 2.58% after it
reported Q1 EPS of $6.23, versus the CIQ consensus of $6.17.
Revenues came in at $1.90 billion, versus the consensus of $1.95
were mostly weaker: Technology Select Sector SPDR ETF (XLK), down
0.50%; iShares Dow Jones US Technology ETF (IYW), down 0.52%;
iShares S&P North American Technology ETF (IGM), up 0.67%; and
iShares S&P North American Technology-Software Index (IGV), up
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 1.01% and Semiconductor Sector Index Fund (SOXX) down 0.41%,
but hit a new 52-week high of $60.33.
SPDR S&P International Technology Sector ETF (IPK) was
In sector news, Accelrys (AACL) was down 21% after it reported
late Tuesday Q1 earnings of $0.06 per share, ex one-time items,
versus the Capital IQ consensus of $0.08. Revenues were $43.9
million, versus the analyst estimate of $45.07 million. The company
expects FY13 EPS of $0.32 - $0.34 on revenues of $17 million - $181
million. Analysts are looking for EPS of $0.37 on revenues of
Dow Jones U.S. Energy Fund (IYE) was down 0.96% and Energy
Select Sector SPDR (XLE) was down 1.07%.
In sector news, Chesapeake Energy (CHK) reversed earlier gains
of some 5% and was down 2% at mid-day. The company reported
adjusted net income per fully diluted share of $0.30 increases 67%
year-over-year. Analysts expected $0.25 per share, according to
Capital IQ. Total revenues were $3.4 billion, up from $2.4 billion
a year prior, which is more than the $3.2 billion analysts
expected. The company plans to devote more than 80% of its total
capital expenditures to drilling and completion activities in 2013
as compared to an average of approximately 50% over the last three
Crude was down 3.09%; natural gas was up 0.74%. United States
Oil Fund (USO) was down 2.8%. United States Natural Gas Fund (UNG)
was up 0.98%.
Gold was down 1.98% and silver was down 3.54%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 2.21%; iShares Silver Trust
(SLV) was down 3.96%.
Healthcare ETFs are mostly lower: Health Care SPDR (XLV), down
0.36%; Vanguard Health Care ETF (VHT), down 0.32%; and iShares Dow
Jones US Healthcare (IYH), down 0.46%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB), on the other hand, was higher, up
In corporate news, Allergan Inc (AGN) was down 12.8% after it
reported Q1 earnings of $0.98 per share versus analyst consensus
estimates on Cap IQ for $0.97 per share and up 14% from Q1 2012.
Revenue was $1.43 billion, about in line with estimates of $1.44
up 3% year over year.
Power Play -
Consumer ETFs continued to firm up at mid-day: Consumer Staples
Select Sector SPDR (XLP), up 0.45%, near its 52-week high; iShares
Dow Jones US Consumer Goods (IYK), up 0.11%, with a new 52-week
high of $88; and Vanguard Consumer Staples ETF (VDC), up 0.35%,
near its 52-week high.
In sector news, DreamWorks Animation SKG Inc. (DWA) was up
6.28%, treimming earlier gains of more than 9%, after reporting
late Tuesday Q1 earnings of $0.07 per share, better than analyst
estimates of a loss of $0.01 per share, and lower compared to prior
year earnings of $0.11 per share. Revenues of $134.6 million
handily topped analyst estimates of $96 million, but were lower
compared to Q1 2012 revenues of $136 million.
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