Active broad-market exchange-traded funds at Wednesday's regular
SPDR S&P 500 (
): +0.19%, near all-time highs
iShares MSCI Emerging Markets Index (
Market Vectors Gold Miners (
iShares Russell 2000 Index Fund (
): +0.87%, with a new record high
iPath S&P 500 VIX Short Term Futures (
Broad Market Indicators
Most broad market exchange-traded funds were higher at session's
half. Actively traded PowerShares QQQ (QQQ) was up 0.39% at a
13-year high of $90.84.
U.S. stocks were also in the green after new home sales in
January rose 9.6% to a seasonally adjusted annual rate of 468,000 -
its fastest pace in more than five years - versus forecasts for a
rate of 405,000. Strong earnings reports from Target (TGT),
Carter's (CRI) and Abercrombie & Fitch (ANF) also helped lift
Power Play: Energy
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were edging lower, down 0.34% and 0.3%, respectively.
In corporate news, Forest Oil (FST) tumbled 37% to an all-time
low after it reported late Tuesday financial results for Q4 that
missed analysts' expectations, and provided guidance on net sales
volume for fiscal 2014, Q1 and Q4 2014. The company said Q4
adjusted earnings of $0.02 per share, compared with the prior-year
period's $0.06 per share. Revenue was $88.49 million, down 43% from
$154.9 million in the same quarter last year. Analysts polled by
Capital IQ were expecting EPS of $0.03 on revenues of $96.09
million. For fiscal 2014, the company expects average net sales
volumes of 120 MMcfe/d, comprised of approximately 35% oil and
natural gas liquids and 65% natural gas. The company said it
expects Q1 2014 net sales volumes to average 105 - 110 MMcfe/d (67%
natural gas and 33% liquids), incorporating the impact of a slower
pace of development in the Eagle Ford and lower-than-expected Q4
well results. Looking ahead to Q4 2014, FST expects average net
sales volumes to average 145 - 150 MMcfe/d (63% natural gas and 37%
Winners and Losers
Select Financial Sector SPDRs (XLF) was off 0.09%. Direxion
Daily Financial Bull 3X shares (FAS) was down 0.08%. Its bearish
counterpart, FAZ, was up 0.09%.
Among financial stocks, Vornado Realty Trust (VNO) was down
0.14% after shares were downgraded at both Citigroup and Imperial
Capital to In-Line from Outperform, each with a $96 price
Technology Select Sector SPDR ETF (XLK), iShares Dow Jones US
Technology ETF (IYW) and iShares S&P North American
Technology-Software Index (IGV) were higher, near their multi-year
highs. iShares S&P North American Technology ETF (IGM) was up
0.69% and reached a record high. SPDR S&P International
Technology Sector ETF (IPK) was flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 1.23% and Semiconductor Sector Index Fund (SOXX) was up 1.1% -
both reached record highs.
In stocks news, Plug Power (PLUG) was up nearly 15% after
confirming the company has received a multi-site GenKey purchase
order from Walmart Stores (WMT) to roll out its hydrogen fuel cell
solution to power electric lift truck fleets at six North America
distribution centers. The first of six sites will be deployed by
Q214. Further purchase order terms for the multi-site order
initially announced on February 10 include: Total of 1,738 GenDrive
fuel cell units, to be deployed over two years GenFuel
infrastructure construction and hydrogen fuel supply Six-year
GenCare service contract for each site.
Crude was up 0.98%; United States Oil Fund (USO) was up 0.77%.
Natural gas was down 2.7%; United States Natural Gas Fund (UNG) was
Gold was down 1.25% and silver was down 3.46%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 1.08%; iShares Silver Trust
(SLV) was down 2.9%.
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK)
were in positive territory.
In company news, Papa John's (PZZA) was up 6% and reached an
all-time high after it reported late Tuesday Q4 earnings of $0.41,
in line with the analyst consensus on Capital IQ. Revenue was
$387.9 million, better than expectations of $372 million. For 2014,
the company expects EPS in the range of $1.72 to $1.80, vs.
expectations of $1.78 per share.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) were higher, and near their
52-week highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB)
In corporate news, Cerus Corp (CERS) was down 15% following
disappointing Q4 revenue and revenue guidance reported after
Tuesday's close. The medical devices company said Q4 product
revenue fell 12% to $9.2 million compared to the prior year's
period. CERS FY2013 product revenue came in at $39.7 million, 8%
annual growth year-over-year. Analysts' estimates are not
available. The company guided 2014 revenue for $38 million - $40
million, down from 2013, and reflecting potential negative impact
to first-half sales from planned changes to distributor
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