Active broad-market exchange-traded funds in Thursday's regular
SPDR S&P 500 ETF Trust (
Market Vectors Gold Miners (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others, continue to log gains. Actively traded PowerShares QQQ
) was up 1%.
U.S. stocks have also extended their gains, although they were
off session highs, as fears over a possible attack on Syria by the
U.S. dissipated and as upbeat economic data brightened market
sentiment. The Commerce Department reported that Q2 GDP grew 2.5%,
versus expectations of an increase of 2.3%, and revised up from the
preliminary increase of 1.7%. Weekly jobless claims fell 6,000 to
331,000, a slightly larger drop versus the forecasts of a decline
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.5%. Direxion Daily
Financial Bull 3X shares (FAS) was up 1.4%. Its bearish
counterpart, FAZ, was down 1.6%.
Among financial stocks, TD Bank Group (TD) was up 2.5% and
nearer 52 week highs after it reported Q3 adjusted EPS were $1.65,
above estimates for $1.62. Sales were $5.95 billion, below the
consensus estimate of $6.1 billion. Barclays also set an Equal
Weight rating on the bank compared to a Neutral industry view. It
has an $88 price target.
Technology Select Sector SPDR ETF (XLK) was up 0.9%; iShares Dow
Jones US Technology ETF (IYW), iShares S&P North American
Technology ETF (IGM) and iShares S&P North American
Technology-Software Index (IGV) were firmer too.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were also in positive
territory. And SPDR S&P International Technology Sector ETF
(IPK) was up 0.58%.
In sector news, Methode Electronics (MEI) was up 32% and has hit
fresh 52 week highs of $25 as it reported Q1 earnings of $0.36 per
share on revenues of $167.3 million, beating analysts' forecasts.
The company raises its guidance for FY14 EPS to $1.40 - $1.60 on
revenues of $670 million - $700 million, also topping
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were in the red, both down 0.6%, but both are still at the
high end of their 52 week ranges.
In sector news, Synergy Resources (SYRG) was up 4% and has hit a
new 52-week high of $9.43 after the U.S. oil and gas exploration
and production company said it will acquire 38 wells with a 27.5%
working interest and 22% net revenue interest in 3,639 gross acres,
1,006 net acres of which 902 acres are located in the core of the
Consumer Staples Select Sector SPDR (XLP) was up 0.7%; other
consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and
Vanguard Consumer Staples ETF (VDC) were both higher too.
In sector news, Campbell Soup (CPB) was down near 3% after the
company reported Q4 adjusted EPS of $0.45, vs. the analyst
consensus of $0.42 per share on Capital IQ. Sales were $1.821
billion, vs. expectations of $1.835 billion. In fiscal 2014, the
company expects continuing operations to grow sales by 5% to 6%,
adjusted EBIT to grow by 5% to 7% and adjusted EPS to grow by 3% to
Health Care SPDR (XLV) was up 0.75%; Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) were firmer.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB), was also
higher, up 1.65%.
In corporate news, Bio-Reference Labs (BRLI) was up 3.7% after
it reported record revenue of $185,427 for Q3, up 16% from the same
quarter last year. Net income rose 17% to $12,596 with earnings of
$0.53, beating analyst estimates of $0.51, and up from $0.45 per
share for Q2 2012.
Power Play -
Crude turned negative and was down 0.75%; United States Oil Fund
(USO) was down 0.18% but still near new 52 week highs.
Natural gas was down 1% and near its 52-week lows after the EIA
reported that natural gas inventories showed a build of 67 bcf
versus expectations for a build of 62 - 63 bcf. United States
Natural Gas Fund (UNG) was down 0.08%.
Gold was down 0.73%; SPDR Gold Trust (GLD) was down 0.7%. Silver
was down 1.84%; iShares Silver Trust (SLV) was down 1.96%.
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