Mid-Day ETF Update: ETFs, Stocks Mostly Higher as Upbeat Overseas News Trump Mixed Jobs, Housing Data


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Active broad-market exchange-traded funds in Tuesday's regular session:

SPDR S&P 500 ( SPY ): +0.36%, with a new 52-week high

Financial Select Sector SPDR ( XLF ): +0.45%, with a new 52-week high

iPath S&P VIX Short Term Futures ( VXX ): -1.6%, with a new 52-week low

iShares MSCI Emerging Markets Index ( EEM ): +0.71%

iShares Russell 2000 ( IWM ): +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

Financial -

Select Financial Sector SPDRs ( XLF ) 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 last year.

Technology -

Tech ETFs 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.

Commodities -

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 -

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 -

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 subscribers.

Power Play -

Energy -

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
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