Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ETF Trust (
iShares MSCI Emerging Markets Index (
Market Vectors Gold Miners (
iPath S&P 500 VIX Short Term Futures (
): -1.3%, nearer 52 week lows
Select Financial Sector SPDRs (
): -0.22%, but near 52-week highs
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others, are higher. Actively traded PowerShares QQQ (QQQ) has
turned positive and is now up 0.6%, nearer 52 week highs.
U.S. stocks edged higher, recovering from earlier weakness,
lifted by Microsoft (MSFT) on news its CEO Steve Ballmer will
retire. Earlier, disappointing housing data weighed on stocks, with
the Department of Commerce reporting that sales of new homes in
July declined 13.4% to a seasonally adjusted annual rate of 394,000
- the lowest rate since October. Investors are still focused on the
Federal Reserve's Jackson Hole conference in Jackson Hole, Wyoming
- with investors looking for clues as to who will replace Fed
Chairman Ben Bernanke. The top candidates for the post are Larry
Summers and Fed Vice Chair Janet Yellen.
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.2% from near 52 week highs. Direxion Daily Financial
Bull 3X shares (FAS) was down 0.35%. Its bearish counterpart, FAZ,
was up 0.23%.
Among financial stocks, DFC Global (DLLR) has tumbled 27% to new
52-week lows after it reported late Thursday Q4 pro forma EPS of
$0.49, beating the Capital IQ consensus estimate of $0.47. Revenues
of $269.1 million however, missed the consensus of $283.08 million.
The company projects adjusted EBITDA of between $200 million and
Dow Jones U.S. Energy Fund (IYE) was up 0.6% and Energy Select
Sector SPDR (XLE) was up 0.65%.
In sector news, Penn West Petroleum (PWE) is up 1.6% after it
said late Thursday that it will further reduce its workforce to
less than 1,600 full time equivalent employees as part of its
ongoing process to improve competitive performance. It expects to
record a charge related to employee separations of approximately
$25 million in Q3 2013.
Crude was up 1.67%, while United States Oil Fund (USO) was up
1.5% and nearer 52 week highs. Natural gas was down 1.33% and
United States Natural Gas Fund (UNG) was down 1.1%.
Gold was up 1.86% and SPDR Gold Trust (GLD) was up 1.5%; silver
prices were up 3.08% while iShares Silver Trust (SLV) was up
Consumer Staples Select Sector SPDR (XLP) was up 0.4%; other
consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and
Vanguard Consumer Staples ETF (VDC) were slightly lower and
slightly higher respectively.
Retail ETFs were weaker in mid-day action: SPDR S&P Retail
(XRT), down 0.5%; PowerShares Dynamic Retail (PMR), down 0.4%; and
Market Vectors Retail ETF (RTH), now down 0.2%, having earlier hit
a new year high of $53.82.
In sector news, Hibbet Sports (HIBB) was down 9.7% after it said
its Q2 earnings rose to $0.40 per share from $0.30 the year
earlier, coming in slightly ahead of the $0.38 average Capital IQ
estimate. Net sales increased 12.6% to $186.2 million, in line with
the $186 million estimate. Same store sales rose 0.3% in the
comparable 13-week period, or by 4.8% in the fiscal Q2. HIBB
revised its guidance for the 52 weeks ending Feb. 1, 2014, to EPS
between $2.65 and $2.77 from previously $2.85 to $3.05. The
consensus estimate is at $2.93. The company expects an increase in
comparable store sales - on a calendar basis - in the low
single-digit range from previously expecting a low to mid single
Health Care SPDR (XLV) was flat; Vanguard Health Care ETF (VHT),
and iShares Dow Jones US Healthcare (IYH) were both weaker. And
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down
In corporate news, ChemoCentryx (CCXI) was down over 30%,
plunging to new 52-week lows after the drug-maker said its vercinon
drug candidate failed to meet its primary endpoints in the first of
four Phase III trials of the prospective treatment for Crohn's
Power Play -
Technology Select Sector SPDR ETF (XLK) was up 0.7%, near its
52-week high. iShares Dow Jones US Technology ETF (IYW) and iShares
S&P North American Technology ETF (IGM) and iShares S&P
North American Technology-Software Index (IGV) were also all
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
slightly down and Semiconductor Sector Index Fund (SOXX) slightly
SPDR S&P International Technology Sector ETF (IPK) was
In sector news, autodesk Inc. (ADSK) was up 10% with a new
52-week high, reversing losses in Thursday's late trade. The
company posted strong Q2 non-GAAP earnings of $0.45 per share, down
from a $0.48 gain in the year-ago quarter but still beating the
Capital IQ consensus by $0.03 per share. Revenue declined 1% year
over year to $562 million, but also topped analyst projections by
$1.44 million. It projected Q3 earnings of $0.36 - $0.40 per share,
below the Capital IQ consensus by at least $0.10 per share. Revenue
is expected to be in a range of $540 million - $555 million,
trailing the Street view by at least $25.92 million.
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