Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ETF Trust (
iPath S&P 500 VIX Short Term Futures (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
Select Financial Sector SPDRs (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were firmer. Actively traded PowerShares QQQ (QQQ) was up
0.3% near 52 week highs.
U.S. stocks have recovered some ground as investors come to
terms with Russian President Vladimir Putin's comment that Russia
will support Syria should it face military action. Earlier, the
U.S. Labor Department said 169,000 new jobs were created in August,
trailing estimates for a 175,000 gain. Also in economic news, June
and July hiring were revised downward, indicating a slow-down in
the jobs market. The jobless rate declined 0.1% to 7.3% although
that was primarily due to more job-seekers leaving the marketplace.
Some analysts believe the less than stellar economic data will stop
the Fed from beginning to reduce asset purchases in September.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.3%. Direxion Daily Financial Bull 3X shares (FAS) was up
1.1%. Its bearish counterpart, FAZ, was down 1.1%.
Among financial stocks, Iberiabank (IBKC) was up 1.2% after
today saying it has acquired certain assets and assumed selected
liabilities in Memphis, Tenn., of Trust One Bank, a division of
Synovus Financial (SNV). The transaction is expected to close by
the end of the year. SNV was flat.
Technology Select Sector SPDR ETF (XLK) was up 0.20%. iShares
Dow Jones US Technology ETF (IYW), iShares S&P North American
Technology ETF (IGM) and iShares S&P North American
Technology-Software Index (IGV) were all higher.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were a little weaker. SPDR
S&P International Technology Sector ETF (IPK) was up 1%,
trading at the higher end of its 52-week range.
In sector news, Ambarella (AMBA) was up 11.8% but off day highs
after reporting Q2 earnings of $0.26 per share, beating the Capital
IQ consensus of $0.19. Revenues were $37.7 million, also topping
analyst estimates looking for $35.99 million. During the same
period last year, the company reported EPS of $0.23 on revenues of
Dow Jones U.S. Energy Fund (IYE) was up 0.6%, and Energy Select
Sector SPDR (XLE) was also up 0.6%. Both funds were just below
their 52-week highs.
In sector news, Gastar Exploration Limited (GST) was up 7.4%,
near a 52-week high, after the company disclosed in a regulatory
filing that its subsidiary, Gastar Exploration USA, will acquire
from Lime Rock Resources II-A, L.P. and Lime Rock Resources II-C,
L.P, a 98.3% working interest in 24,000 net acres of the West
Edmund Hunton Lime Unit, for $187.5 million. The properties are
located in Kingfisher, Logan, Oklahoma and Canadian Counties,
Oklahoma. The effective date for the acquisition is Aug. 1,
Crude was up 1.50%, and United States Oil Fund (USO) was up
Natural gas was down 1.23%, and United States Natural Gas Fund
(UNG) was down 1.06%.
Gold was up 1.05%, off session lows, and the SPDR Gold Trust
(GLD) was up 1.36%. Silver was up 2.58%; iShares Silver Trust (SLV)
was down 2.64%.
Health Care SPDR (XLV) was up 0.38%; Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) were both trading
at the higher end of their 52-week ranges. Biotech ETF iShares
NASDAQ Biotechnology Index (IBB), was up 0.21%, off the 52-week
high of $202.91.
In corporate news, Atossa Genetics (ATOS) was up 6% but off day
highs after the company said this morning it will showcase its
ForeCYTE Breast Health Test at the 7th annual Breast Cancer
Symposium, which begins on Saturday. The test detects reversible
precancerous conditions in the breast up to eight years before they
become cancer. It uses no radiation and does not require invasive
biopsy needles or surgical incisions.
Power Play -
Consumer Staples Select Sector SPDR (XLP) was up 0.53%. Among
other consumer ETFs, iShares Dow Jones US Consumer Goods (IYK) and
Vanguard Consumer Staples ETF (VDC) were firmer.
In sector news, Mattress Firm Holding Corp (MFRM) was down near
17% after the company's Q2 results missed consensus forecasts and
it reduced its full-year outlook. The company reported Q2 adjusted
EPS of $0.43 versus consensus estimate of $0.51 on Capital IQ. Net
sales were $302.5 million, compared to the $323 million that
analysts expected. Comparable-store sales declined 0.3%. For the
full-year, the company sees adjusted EPS of $1.75 to $1.83
(previously $1.90 to $1.98) and net sales of $1.194 to $1.207
billion (previously $1.237 to $1.250 billion). Analysts are
expecting EPS of $1.96 and net sales of $1.2 billion.
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