Active broad market exchange-traded funds at mid-day:
SPDR S&P 500 (
iPath S&P 500 VIX Short Term Futures TM (
iShares Russell 2000 Index (
SPDR Gold Trust (
ProShares Trust II (
): -11.9%, near its 52-week low
iShares MSCI Japan Index (EWJ): +0.62%, near its 52-week
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continues to firm up. Actively traded PowerShares QQQ (QQQ)
was up 1.18%.
U.S. stocks extend earlier gains into the session's half,
recovering from Monday's losses following a slump in gold and other
commodities - the worse decline for the year. Market sentiment
continued to brighten despite mixed economic reports, with March
industrial production, capacity utilization and housing starts
coming in slightly above forecasts. On the other hand, building
permits and CPI and core CPI data fell short of expectations.
Better-than-expected earnings results from Goldman Sachs (GS),
Johnson & Johnson (JNJ) and Coca-Cola (KO) also helped buoy
Winners and Losers
logged gains in mid-day action: Technology Select Sector SPDR ETF
(XLK), up 1.10%; iShares Dow Jones US Technology ETF (IYW), up
1.14%; iShares S&P North American Technology ETF (IGM), up
1.17%; and iShares S&P North American Technology-Software Index
(IGV), up 1.17%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 1.58% and Semiconductor Sector Index Fund (SOXX) was up
SPDR S&P International Technology Sector ETF (IPK) was up
In sector news, NetGear Inc. (NTGR) has slipped 7.51% to a new
52-week low of $28.24. NTGR said late Monday it expects net revenue
for Q1 between $290 million to $295 million, which is an update to
the previously estimated range, of $290 million to $305 million.
The company expects non-GAAP Q1 earnings of $0.45 to $0.50. The
Thomson Reuters mean is for EPS of $0.59 on sales of $299.66
Dow Jones U.S. Energy Fund (IYE) was up 0.89% and Energy Select
Sector SPDR (XLE) was up 0.88%.
In sector news, Northern Oil & Gas (NOG) was up 2.7% after
the company said late Monday that it expects Q1 production to
average about 11,100 barrels of oil equivalent per day, a increase
of 30% year over year and 2% over the prior quarter. During the
quarter, the company added 128 gross (9.6 net) wells to production.
NOG expects its Q1 realized price per barrel of oil equivalent,
including the effect of settled derivatives, to be between $82.00 -
$83.00. Lease operating expense (LOE) per barrel of oil equivalent
is projected to be $8.50 - $9.00.
Grain prices ticked higher after the USDA reported late Monday
that U.S. farmers have commence planting the U.S. corn crop,
planting about 2%, which is below the rate last year of 16% and
below the 5-year average of 7%. The decline in planting rate was
due to recent rains, the report said. Corn was up 0.88% at a
52-week high of $633.50. Teucrium Corn Fund (CORN) was also higher,
Crude was down 0.48%; natural gas was down 0.71%. United States
Oil Fund (USO) was up 0.03%. United States Natural Gas Fund (UNG)
was down 0.66%.
Gold was up 1.7%. Gold funds continued to be in positive
territory, but off session highs: SPDR Gold Trust (
) up 1.42%; iShares Gold Trust(IAU), up 1.67%; and Market Vectors
Gold Miners (GDX), up 1.14%. Silver was up 1.26%. iShares Silver
Trust (SLV) was up 3.30%.
Healthcare ETFs were firmer: Health Care SPDR (XLV), up 0.98%;
Vanguard Health Care ETF (VHT), up 1.03%; and iShares Dow Jones US
Healthcare (IYH), up 1.1%. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB) is up 1.26%.
In corporate news, Sarepta Therapeutics (SRPT) was down 12.77%
after the company late Monday said the FDA has requested additional
information for the accelerated approval of eteplirsen for treating
Duchenne muscular dystrophy.
Consumer ETFs were higher, nearing their 52-week highs: Consumer
Staples Select Sector SPDR (XLP), up 1.45%; iShares Dow Jones US
Consumer Goods (IYK), up 1.44%; and Vanguard Consumer Staples ETF
(VDC), up 1.12%.
In sector news, Coca-Cola (KO) was 5.24%, touching a new 52-week
high of $42.32, after it reported Q1 EPS of $0.39, including $0.07
per share in items, vs. $0.46 per share last year, including an
item that increase EPS by $0.01 per share. The analyst consensus
was $0.45 per share, generally an ex items number. Revenue was
$11.03 billion, vs. $11.13 billion last year. The analyst view on
Capital IQ called for revenue of $10.97 billion.
Power Play -
Select Financial Sector SPDRs (XLF) was up 1.11%, near its
52-week high. Direxion Daily Financial Bull 3X shares (FAS) was up
3.07%. Its bearish counterpart, FAZ, was down 2.97%.
Among financial stocks, regional bank Comerica (CMA) was up
1.03% after it earlier reported first quarter 2013 net income of
$134 million, up against $130 million for the same period a year
ago. Earnings per fully diluted share were 70 cents for the first
quarter 2013, up from 66 cents in Q1 last year. "Broad-based
average loan growth in each of our primary geographic markets,
together with tight expense controls, contributed to our increased
net income in the first quarter," said CEO and Chairman Ralph W.
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