Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares Russell 2000 Index (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
iPath S&P 500 VIX Short Term Futures TM ETN (
): -0.9%, nearing year lows
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed. Actively traded PowerShares QQQ (QQQ) is up
U.S. stocks have rebounded after spending most of the session's
first half in the red due to fiscal cliff worries and a
lower-than-expected October new home sales. Market sentiment has
now improved, buoyed by comments from House Speaker John Boehner,
who was optimistic that an agreement to avert the so-called fiscal
cliff could be reached soon. President Obama, who met with the top
executives from U.S. companies that include Caterpillar (CAT),
Goldman Sachs (GS), and Deloitte LLP, reiterated his stance that
tax cuts should be extended to the middle class while top earners
should have tax raises. Still ahead, the October Beige Book will be
reported at 14:00 ET.
Winners and Losers
Select Financial Sector SPDRs (
) has turned negative and is now down 0.1%. Direxion Daily
Financial Bull 3X shares (FAS) too has turned negative to be 0.3%
lower. Its bearish counterpart, FAZ, is now up 0.3%.
Among financial stocks, Knight Capital Group (KCG) is up 14%
after reports that Getco, a the Chicago-based high-frequency
trader, has made a $3.50 per share bid for the financial services
Dow Jones U.S. Energy Fund (IYE) is up 0.1%; Energy Select
Sector SPDR (XLE) has lost gains and is now flat.
In sector news, Callon Petroleum's (CPE) subsidiary, Callon
Petroleum Operating Company, has sold its 11.25% working interest
in the Habanero field (Garden Banks Block 341) to Shell Offshore
Inc., a subsidiary of Royal Dutch Shell plc (RDS.A), for a
contemplated base purchase price of $42 million. The effective date
of this transaction will be Oct. 1, 2012. The company plans to use
the cash proceeds from this asset divestiture, net of purchase
price adjustments, to repay borrowings under its revolving credit
facility. CPE shares are up 4.3%.
Crude was down 1.19%; likewise, natural gas was down 3.31%.
United States Oil Fund (USO) is down 1.3%. United States Natural
Gas Fund (UNG) is down 3%.
Gold was down 1.61% and silver was down 1.64%. Among rare metal
funds, SPDR Gold Trust (GLD) is down 1.3%; iShares Silver Trust
(SLV) is down 1%.
are mixed to higher: Health Care SPDR (XLV), up 0.4% and Vanguard
Health Care ETF (VHT), up 0.2%. Meanwhile, iShares Dow Jones US
Healthcare (IYH) has turned positive and is now up 0.4%. Biotech
ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.3%.
In corporate news, Vermillion Inc. (VRML) is up 38% but off day
highs after the molecular diagnostics company reported positive
top-line results of the "OVA500" study. The study confirms and
extends the findings of the first OVA1 pivotal study published last
year in Obstetrics & Gynecology.
Consumer ETFs are higher: Consumer Staples Select Sector SPDR
(XLP), up 0.8% and nearer to 52 week highs; iShares Dow Jones US
Consumer Goods (IYK), up 0.07%; and Vanguard Consumer Staples ETF
(VDC), up 0.7%.
Retail ETFs are firmer: SPDR S&P Retail (XRT), up 1%;
PowerShares Dynamic Retail (PMR), up 0.79%; and Market Vectors
Retail ETF (RTH), up 1%, with a new 52-week high of $44.88.
In sector news, Movado Group (MOV) is up 9.25% after it reported
Q3 earnings of $1.34 per share, ex one-time items, versus the
Capital IQ consensus of $0.62. Revenues were $160.2 mln, versus the
analyst estimate of $157.68 mln. In the same period last year, the
company reported EPS of $0.65 on revenues of $142.6 mln. The
company expects sales to be $510 mln and EPS to be $1.50 in FY13,
versus the consensus of $509.39 mln in revenues and $1.49 in
Power Play -
Tech ETFs are turning positive: Technology Select Sector SPDR
ETF (XLK), now up 0.1%; iShares Dow Jones US Technology ETF (IYW),
now up 0.2%; iShares S&P North American Technology ETF (IGM),
now up 0.2%; and iShares S&P North American Technology-Software
Index (IGV), up 0.4%.
Semiconductor ETFs are mixed, with SPDR S&P Semiconductor
(XSD), now up 0.7% and Semiconductor Sector Index Fund (SOXX), up
SPDR S&P International Technology Sector ETF (IPK) is down
In sector news, Nokia (NOK) is up nearly 4% on reports the
Finnish phone maker has won its WLAN-patent case against Research
in Motion (RIMM). RIMM will now have to pay NOK royalties for
handsets. Still, RIMM shares are up 3%.