Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 (
): +0.36%, with a new 52-week high
Financial Select Sector SPDR (
): +0.45%, with a new 52-week high
iPath S&P VIX Short Term Futures (
): -1.6%, with a new 52-week low
iShares MSCI Emerging Markets Index (
iShares Russell 2000 (
): +0.57%, with a new 52-week high
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continued to be firmer. Actively traded PowerShares QQQ
(QQQ) was flat but still near its 52-week highs.
U.S. stocks have extended their gains. Market sentiment
brightened as upbeat overseas news offset mixed U.S. economic data.
The U.S. Labor Department reported that job openings fell to 3.84
million in March from 3.9 million in February, while CoreLogic
earlier reported that U.S. home prices rose 1.9% in March. Earlier,
stocks cheered news from overseas markets - the Australia central
bank announced a quarter point interest rate cut while Japanese
stocks closed at their highest levels since June 2008. Still ahead,
investors are awaiting the report on March consumer credit, due out
3 p.m. ET.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.47%, with a new 52-week high of $19.16. Direxion Daily
Financial Bull 3X shares (FAS) was up 1.6%, also with a new 52-week
high of $62.66. Its bearish counterpart, FAZ, was down 1.7% and
touched a new 52-week low.
Among financial stocks, JPMorgan Chase (JPM) is up 1.7%
following a Bloomberg report that the bank is planning commodity
trader job cuts, about 9 in total, in Dubai and London as
commodities revenue has declined about 24% at the 10 largest banks
were mostly weaker, but all are still near their 52-week highs:
Technology Select Sector SPDR ETF (XLK), down 0.13%; iShares Dow
Jones US Technology ETF (IYW), down 0.32%; iShares S&P North
American Technology ETF (IGM), now up 1%; and iShares S&P North
American Technology-Software Index (IGV), down 0.43%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 0.8% and Semiconductor Sector Index Fund (SOXX) was down
0.03%, but touched a new 52-week high of $61.84.
SPDR S&P International Technology Sector ETF (IPK) was down
0.59% but near its 52-week high.
In sector news, Ruckus Wireless (RKUS) was down 25% following
the company's report that Q1 sales were $57.2 million, below the
Street's estimate for $67.1 million. Non-GAAP EPS was $0.03 vs. the
Street's forecast for $0.04. RKUS sees Q2 sales of $61 million to
$64 million and Non-GAAP EPS of $0.03 to $0.04.
Crude was down 0.54%; natural gas was down 1.67%. United States
Oil Fund (USO) was down 0.06%. United States Natural Gas Fund (UNG)
was down 2.3%.
Gold was down 1.12% and silver was down 0.31%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 1.2%; iShares Silver Trust
(SLV) was down 0.3%.
Healthcare ETFs turned positive at mid-day: Health Care SPDR
(XLV), up 0.36%; Vanguard Health Care ETF (VHT), up 0.3%; and
iShares Dow Jones US Healthcare (IYH), up 0.35%. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) continued to slip lower,
down 0.4% at last check.
In corporate news, Akorn, Inc. (AKRX) is now down 10% after it
reported Q1 2013 non-GAAP income of $14.4 million, or $0.13 per
diluted share, compared to non-GAAP income of $10.6 million, or
$0.10 per diluted share, in the prior-year quarter. Analysts polled
by Capital IQ expected EPS of $0.13. Revenues for the quarter
totaled $73.9 million, up 43% over the prior year quarter's
consolidated revenue of $51.7 million. Analysts expected revenues
of $74.1 million. For 2013, the company anticipates adjusted income
of $60 million to $62 million, or $0.53 to $0.55. This is below the
Street view of $0.61 EPS.
Consumer ETFs were firmer, nearing their 52-week highs: Consumer
Staples Select Sector SPDR (XLP), up 0.5%; iShares Dow Jones US
Consumer Goods (IYK), up 0.50%; and Vanguard Consumer Staples ETF
(VDC), up 0.56%.
In sector news, DIRECTV (DTV) is up 6.8% at near $61.90 and an
existing 52-week high of $61.96 after it reported Q1 earnings of
$1.43 per share, versus the Capital IQ consensus of $1.10. Revenues
were $7.58 billion, versus the analyst estimate of $7.53 billion.
In the same period last year, the company reported EPS of $1.07 on
revenues of $7.05 billion. The company posted 604,000 net
subscriber additions for the quarter. In Latin America, DTV added
583,000 subscribers in the quarter surpassing 16 million total
Power Play -
Dow Jones U.S. Energy Fund (IYE) was up 0.57%, with a new
52-week high of $46.08. Energy Select Sector SPDR (XLE) was up
0.67%, hitting a new 52-week high of $80.98.
In sector news, Anadarko Petroleum (APC) is now down 0.5% having
earlier touched a new 52-week high of $89.72 after it reported late
Monday Q1 EPS of $1.08, ex one-time items, beating the Capital IQ
consensus estimate of $0.94. Revenues of $3.89 billion also topped
the consensus of $3.45 billion. Total sales volumes for the quarter
was 71 million BOE, or 793,000 BOE per day. Liquids sales volumes
averaged 345,000 BOE per day, which includes 257,000 barrels of oil
per day. Natural gas volumes averaged 2.7 billion cubic feet per
day. As a result of this performance, the company has increased its
full-year 2013 sales-volumes guidance to a range of 279 to 287
million BOE from a previous range of 279 to 285 million BOE.
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