Active broad-market exchange-traded funds in Wednesday's regular
SPDR S&P 500 ETF Trust (
iPath S&P 500 VIX Short Term Futures TM (
Select Financial Sector SPDRs (
): +1.95%, near 52-week highs
iShares MSCI Emerging Markets Index (
PowerShares QQQ Trust, Series 1 (
): +1.06%, with a new 52-week high of $80.42
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were higher, mostly reaching or nearing 52-week highs.
Actively traded PowerShares QQQ (
) is up 1.06%, reaching a new 52-week high of $80.42.
U.S. stocks have vaulted to intraday highs after U.S. senators
said they have crafted a bipartisan debt and budget deal that will
reopen the government and lift the debt ceiling. The deal will set
up a committee to settle broader budget issues. It will also lift
the debt ceiling through Feb. 7 and fund the federal government
through Jan. 15. The Senate and House will still need to vote on
Power Play: Technology
Technology ETFs and stocks rallying - nearing or having reached
52-week highs: Technology Select Sector SPDR ETF (XLK), up 1.02%;
iShares Dow Jones US Technology ETF (IYW), up 0.90%; iShares
S&P North American Technology ETF (IGM), up 0.85%; and iShares
S&P North American Technology-Software Index (IGV), up
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.76%, with a new 52-week high of $58.62; and Semiconductor
Sector Index Fund (SOXX), was up 0.82%, near its 52-week high. SPDR
S&P International Technology Sector ETF (IPK) was up 0.19%,
also near its 52-week high.
In sector news, Ellie Mae Inc. (ELLI) was down 9.04% after the
Software-as-a-Service provider to the mortgage industry reported
September origination data showing as the portion of loans being
used for purchases rose in the month, credit standards fell. Ellie
Mae said the portion of purchase loans rose to 58% of all loans in
September, up from 57% in August and 35% a year earlier. However,
average FICO scores for closed loans declined to 732, from 734 in
August. The average FICO score was down 15 points from January and
the lowest level since tracking began in August 2011. While the
lower average FICO score means credit has been more accessible, it
also means the loans are getting riskier.
Winners and Losers
Select Financial Sector SPDRs (
) was up 2.12%, near 52-week highs. Direxion Daily Financial Bull
3X shares (FAS) was up 2.07%, also near its 52-week high. Its
bearish counterpart, FAZ, was down 5.67%, sinking to a new 52-week
low of $26.33.
Among stocks, Bank of America (BAC) turned positive and was up
2.11% after reporting Q3 earnings of $0.20 per share, vs. the
analyst consensus of $0.19 per share on Capital IQ. Revenue was
$21.74 billion, vs. expectations of $21.74 billion.
Dow Jones U.S. Energy Fund (IYE) was up 1.29%, with a new
52-week high of $48.72. Energy Select Sector SPDR (XLE) was up
1.47%, also hitting a new 52-week high of $86.07.
In sector news, Western Refining (WNR) was up 2.41% after it
said late Tuesday that its board of directors approved a $0.22 per
share dividend for Q4, an increase from the $0.18 per share
dividend paid in Q3. The dividend will be paid on Nov. 14 to
shareholders of record on Oct. 30.
Crude was up 1.18%; United States Oil Fund (USO) was up 1.40%.
Natural gas was up 0.55%, and United States Natural Gas Fund (UNG)
was now up 0.72%.
Gold was up 0.58%, and SPDR Gold Trust (GLD) was down 0.15%.
Silver was up 0.8%; iShares Silver Trust (SLV) was flat.
Consumer Staples Select Sector SPDR (XLP) was up 1.06%. iShares
Dow Jones US Consumer Goods (IYK) was up 0.89%, while Vanguard
Consumer Staples ETF (VDC) was up 1.04%.
In sector news, Mattel, Inc. (MAT) was up 2.42% after reporting
Q3 earnings of $1.16 per share, ex one-time items, versus the
Capital IQ consensus of $1.12. Revenues were $2.21 billion, versus
the analyst estimate of $2.19 billion. The company said that among
its brands, gross sales for the American Girl Brands rose 20%; for
the Barbie brand, up 3%; and for the Other Girls Brands, primarily
driven by Monster High, up 28%.
Health Care SPDR (XLV) was up 1.64% and touched a new 52-week
high of $52.25. Among other healthcare ETFs, iShares Dow Jones US
Healthcare (IYH) and Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) were firmer. Vanguard Health Care ETF (VHT) was up 1.56%,
with a new 52-week high of $95.73.
In corporate news, biopharmaceutical company Portola
Pharmaceuticals Inc. (PTLA) was up 1.36% after the company said it
has commenced an underwritten public offering of shares of its
common stock and expects to raise aggregate proceeds of
approximately $100 million. PTLA intends to use the net proceeds
from this offering to fund its BLA-enabling registration studies,
Phase 1/2 proof-of-concept study of PRT2070, and Phase 3 Betrixaban
study, and for general corporate purposes.
Select Sector SPDR-Industrial (XLI) was up 0.39%; iShares Trust
Dow Jones U.S. Industrial Sector Index Fund (IYJ) and Vanguard
Industrials (VIS) were also firmer, trading at the higher end of
their 52-week ranges.
Among stocks, Stanley Black & Decker (SWK) was down 13.95%
after reporting Q2 earnings of $1.39 per share, ex one-time items,
versus the Capital IQ consensus of $1.40. Revenues were $2.8
billion, versus the analyst estimate of $2.82 billion. For FY13,
the company now expects EPS of $4.90 - $5.00, down from the prior
guidance of $5.40 - $5.65. The company lowered its guidance due to
slower margin rate recovery within its Security segment, weakening
emerging markets and the impact of the U.S. government shutdown on
organic growth. Analysts are looking for EPS of $5.44.
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