Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
): -0.5% from near year highs.
iPath S&P 500 VIX Short Term Futures TM (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
): -0.1% from near year highs.
iShares Russell 2000 Index (
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 are slipping after logging gains off the start of
the session, as earlier optimism regarding Italy's elections
soured. Concerns over a potentially hung parliament have emerged.
Political analysts project that Silvio Berlusconi's center-right
party would win the Senate, while center-left candidate Pier Luigi
Bersani and his party would win Congress. Berlusconi's coalition
has been widely seen as a threat to the austerity measures already
set in place by the country. With no notable economic data on tap
today, many stocks continue to move on earnings reports - among
these are Lowe's (LOW), Hertz Global (HTZ) and Dendreon (DNDN).
Winners and Losers
Select Financial Sector SPDRs (
) is down 1% from near year highs. Direxion Daily Financial Bull 3X
shares (FAS) is down 2.7%. Its bearish counterpart, FAZ, is up
Among financial stocks, CommonWealth REIT (CWH) is now down 11%
after the company posted Q4 FFO of $0.82, falling short of analyst
estimates for $0.86. Revenue for the quarter came in at $264.7
million, ahead of the $263.56 million consensus. Separately, the
company said it has commenced a public offering of 27,000,000
common shares, and will use the proceeds of this offering to
purchase up to $450 million of unsecured senior notes due between
2014 and 2016 in a tender offer CWH has also announced today.
are mixed: Technology Select Sector SPDR ETF (XLK), off 0.1%;
iShares Dow Jones US Technology ETF (IYW), down 0.12%; iShares
S&P North American Technology ETF (IGM), up 0.25%; and iShares
S&P North American Technology-Software Index (IGV), down
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
down 0.6% and Semiconductor Sector Index Fund (SOXX) is down 0.4%.
SPDR S&P International Technology Sector ETF (IPK) is flat.
In sector news, Zynga (ZNGA) is up 10% after Nevada's governor
Friday signed legislation legalizing online gambling within the
state. The company had appealed to Nevada regulators last year in
an attempt to transition its business into online real-money
gambling. The company had appealed to Nevada regulators last year
in an attempt to transition its business into online real-money
gambling. Zynga also said today that it's closing down some of its
offices to allow it to focus resources on strategic opportunities,
Flyonthewall reported. According to the report, the company will
close the McKinney, Texas and downtown Austin offices, relocating
those teams to Dallas and North Austin and will move its NYC staff
to its mobile studio in the city.
Dow Jones U.S. Energy Fund (IYE) is down 0.9%; Energy Select
Sector SPDR (XLE) is down 0.9% too.
In sector news, Global Geophysical Services (GGS) is now down
31.7% and hit a new year low of $2.96 after the company reported a
Q4 loss of $0.76 per share, including one-time items, compared with
the prior-year period's $0.04 earnings per share. Revenues were
$55.3 mln, down 51% from $113.1 mln in the same quarter last year.
Analysts polled by Capital IQ were expecting EPS of $0.12, which
may not be comparable as analysts' estimates typically exclude
special items. Revenues were expected to be $95.94 mln.
Crude was down 0.02%; natural gas was up 3.35%. United States
Oil Fund (USO) is down 0.3%. United States Natural Gas Fund (UNG)
is up 3.9%.
Gold was up 1.13% and silver was up 2.10%. Among rare metal
funds, SPDR Gold Trust (GLD) is up 0.4%; iShares Silver Trust (SLV)
is up 0.8%.
Healthcare ETFs are mostly lower but are near their year highs:
Health Care SPDR (XLV), down 0.23%; Vanguard Health Care ETF (VHT),
down 0.3%; and iShares Dow Jones US Healthcare (IYH), now up 0.3%.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) now up
In corporate news, Affymax (AFFY) is now down 84%, with a new
year low of $2.34, after it announced with Takeda Pharmaceutical
that the two companies have decided to voluntarily recall all lots
of OMONTYS (peginesatide) Injection to the user level as a result
of new postmarketing reports regarding serious hypersensitivity
reactions, including anaphylaxis, which can be life-threatening or
Power Play -
Consumer ETFs are higher: Consumer Staples Select Sector SPDR
(XLP), is down 0.5% but earlier touched a new year high of $38.44;
iShares Dow Jones US Consumer Goods (IYK), is now down 0.3% having
earlier gone near its 52-week high; Vanguard Consumer Staples ETF
(VDC), down 0.5% now, but earlier touched a new year high of
In sector news, Hertz Global Holdings (HTZ) is up 6% to around
$19.80, having earlier touched a new year high of $20.37, after it
reported Q4 earnings of $0.33 per share, ex one-time items, versus
the Capital IQ consensus of $0.31. Revenues were $2.3 bln, versus
the analyst estimate of $2.27 bln. Including costs and charges
related to the company's acquisition of Dollar Thrifty, the company
posted a GAAP loss of $0.09 per share. The company expects FY13 EPS
of $1.82 - $1.92 on revenues of $10.85 bln - $10.95 bln. The Street
view is EPS of $1.73 on revenues of $10.81 bln.
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