Active broad market exchange-traded funds at mid-day Monday:
SPDR Trust Series I (
iShares MSCI Emerging Index Fund (
iPath S&P 500 VIX Short Term Futures (
Financial Select Sector SPDR (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continued to be firmer. Actively traded PowerShares QQQ (
) was up 1.26%.
U.S. stocks continued to firm up, with the S&P 500 topping
its record close of 1,593.37. Market sentiment remained rosy
following the report that March pending home sales grew 1.5%,
better than the forecasts of an increase of 0.1%, according to
Earlier gains were spurred by the Commerce Department's report
that consumer spending in the U.S. increased 0.2% for the month of
March, a little above the forecasts of 0.1% increase, according to
MarketWatch. Personal income rose a seasonally adjusted 0.2%,
missing the prices, as the dollar extended its weakness from last
week, and as analysts continued to expect easy-monetary policies
among key central banks.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.46%. Direxion Daily Financial Bull 3X shares (FAS) was
up 1.43%. Its bearish counterpart, FAZ, was down 1.3%.
Among financial stocks, CNA Financial (CNA) slipped 2% but
earlier touched a new 52-week high of $34.97 reports Q1 net income
of $250 million, or $0.93 per share, which is well above analysts
estimates of $0.71 per share for Q1.
were firmer, at the higher end of their 52-week ranges: Technology
Select Sector SPDR ETF (XLK), up 1.36%; iShares Dow Jones US
Technology ETF (IYW), up 1.58%; iShares S&P North American
Technology ETF (IGM), up 1.25%; and iShares S&P North American
Technology-Software Index (IGV), up 1%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 1.52% and Semiconductor Sector Index Fund (SOXX) was up
SPDR S&P International Technology Sector ETF (IPK) slipped
In sector news, SINA (SINA) pared earlier gains of some 23% and
was up 10.52% at last check after the company said it has reached
an agreement on a strategic alliance between several entities
affiliated with SINA, including PRC subsidiaries of Weibo
Corporation, and several entities affiliated with Alibaba Group,
including Taobao (China) Software Co., Ltd. and Zhejiang Tmall.com
Technology Co., Ltd., to jointly explore social commerce and
develop innovative marketing solutions to enable merchants on
Alibaba e-commerce platforms to better connect and build
relationships with Weibo users.
The two companies will cooperate in the areas of user account
connectivity, data exchange, online payment and online marketing,
among other things, and will explore new business models for social
commerce based on the interactions of the hundreds of millions of
users on Weibo and on Alibaba's e-commerce platforms. The strategic
alliance is expected to generate approximately $380 million in
advertising and social commerce services revenues in aggregate for
Weibo over the next three years.
Separately, the company announced that Alibaba, through a wholly
owned subsidiary, has invested $586 million to purchase preferred
and ordinary shares representing approximately 18% of Weibo on a
fully-diluted basis. SINA has also granted an option to Alibaba to
enable Alibaba to increase its ownership in Weibo to 30% on a fully
diluted basis at a mutually agreed valuation within a certain
period of time in the future.
Dow Jones U.S. Energy Fund (IYE) was up 0.93% and Energy Select
Sector SPDR (XLE) was up 1.08%.
In sector news, Broadwind Energy (BWEN) climbed 10.10% after it
announced a $34 million order for towers from a US wind turbine
manufacturer. Broadwind will produce the towers in its Abilene,
Texas facility with delivery scheduled to begin in fourth-quarter
2013 and extend into 2014.
Healthcare ETFs were firmer: Health Care SPDR (XLV), up 0.63%;
Vanguard Health Care ETF (VHT), up 0.57%; and iShares Dow Jones US
Healthcare (IYH), up 0.41%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) was up 0.77% .
In corporate news, Bayer HealthCare LLC has signed a merger
agreement with Conceptus, Inc. (CPTS), developer of the
non-surgical permanent birth control method Essure. The transaction
values Conceptus at approximately $1.1 billion, representing $31
per share in cash. Bayer will launch a public tender offer to
acquire all shares in Conceptus. Closing is subject to customary
conditions, in particular anti-trust approval in the U.S., and is
expected by mid-year 2013. CPTS shares were up 19.36%.
Consumer ETFs were higher but the sector underperformed the
broader market: Consumer Staples Select Sector SPDR (XLP), up
0.07%; iShares Dow Jones US Consumer Goods (IYK), up 0.14%; and
Vanguard Consumer Staples ETF (VDC), up 0.18%.
In sector news, Penske Automotive (PAG) was up 5.74% after it
reported Q1 2013 revenue of $3.4 billion, compared to $3.2 billion
in the same period last year, an increase of 7.7%. Net income was
$57.7 million, or $0.64 per share and operating earnings were $0.63
per share. Analysts expected a earnings of $0.62 per share on $3.48
billion in revenue.
Power Play -
Gold extended its gains into the session's half, as the dollar
continued to slip lower. Gold is up 1.12% and silver was up 2.09%.
Among rare metal funds, SPDR Gold Trust (GLD) was up 0.91%; iShares
Silver Trust (SLV) was up 1.77%.
Crude was up 1%; June natural gas is up 1.02%. United States Oil
Fund (USO) was up 1.18%. United States Natural Gas Fund (UNG) was
Among stocks, Gold Resource (GORO) has reversed earlier losses
of some 7% and was up 1.01% at last check after the company lowered
its monthly dividend for April 2013 to $0.03 per share from $0.06
per share. The dividend is payable on May 23, 2013 to shareholders
of record as of May 13, 2013. The company said it lowered the
monthly dividend due to precious metal price market volatility and
capital needed for current expansion activities.