Mid-Day ETF Update: ETFs, Stocks See Gains on Upbeat Earnings; Housing Data Meets Forecasts

By MidnightTrader.com Staff,

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Active broad market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): +1.01%

iShares MSCI Emerging Markets Index ( EEM ): +0.60%

Financial Select Sector SPDR ( XLF ): +1.68%, near its 52-week high

iShares MSCI Japan Index ( EWJ ) +0.71% from near its 52-week high

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -4.55%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, continued to log gains. Actively traded PowerShares QQQ (QQQ) is up 1.10%.

U.S. stocks were buoyed by upbeat earnings reports at session's half, particularly a strong showing from the Tech sector, led by Netflix (NFLX), which reported a Q1 profit beat late Monday. Investors shook off global growth concerns and the weakest Markit PMI reading in six months, focusing instead on housing data: new home sales and FHFA pricing data were in line with expectations. The spotlight will be on Apple (AAPL) in today's after-hours session when the tech giant reports its earnings.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is up 1.68%. Direxion Daily Financial Bull 3X shares (FAS) was up 4.52%. Its bearish counterpart, FAZ, was down 4.38%.

Among financial stocks, Travelers Companies (TRV) was up 2.48%, with a new 52-week high of $89 after the company reported Q1 earnings of $2.33 per share, ex one-time items, versus the Capital IQ consensus of $2.03. Revenues were $6.3 billion, versus the analyst estimate of $5.63 billion.

Technology -

Tech ETFs continued to post sharp gains: Technology Select Sector SPDR ETF (XLK), up 1.39%; iShares Dow Jones US Technology ETF (IYW), up 1.62%; iShares S&P North American Technology ETF (IGM), up 1.39%; and iShares S&P North American Technology-Software Index (IGV), up 1.31%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 2.34% and Semiconductor Sector Index Fund (SOXX) was up 2.12%.

SPDR S&P International Technology Sector ETF (IPK) was flat.

In sector news, Netflix (NFLX) climbed 24.44% and touched a new 52-week high of 219.38 after reporting late Monday Q1 revenue of $1.02 billion and net income of $2.69 million, up from a $4.59 million loss the same quarter a year prior. EPS was $0.31 per share. Analysts expected $0.20 per share in earnings on $1.02 billion in revenue, according to Capital IQ. The company added about two million domestic subscribers in Q1. For the current quarter, it expects subscriber counts to number about 29.4 to 30.05 million and EPS in a range of $0.23 to $0.48 per share. The Street is at $0.29 per share.

Energy -

Dow Jones U.S. Energy Fund (IYE) was up 0.81%. Energy Select Sector SPDR (XLE) was up 0.97%.

In sector news, Total SA (TOT) was up 2.58% after the company said it has signed a joint venture agreement with Qatar Petroleum to build a $1.5 billion refinery, Fox Business News reports. The joint venture will own a 10% stake, while four Japanese firms will hold the remaining stake.

Commodities -

Crude was down 0.15%; natural gas was up 0.97%. United States Oil Fund (USO) was down 0.31%. United States Natural Gas Fund (UNG) was up 0.95%.

Gold was down 0.58% and silver was down 1.9%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.94%; iShares Silver Trust (SLV) was down 2.08%.

Healthcare -

Healthcare ETFs were hitting new 52-week highs at mid-day: Health Care SPDR (XLV), up 0.73%, with a new 52-week high of $48.38; Vanguard Health Care ETF (VHT), up 0.79%, with a new 52-week high of $86.90; and iShares Dow Jones US Healthcare (IYH), up 0.78%, with a new 52-week high of $101.63. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was also pointing higher, up 0.83% with a new 52-week high of $177.07.

In corporate news, Illumina (ILMN) was up 14.62% after it reported late Monday that Q1 sales were $331 million, versus the Street's estimate of $310.73 million. Non-GAAP EPS was $0.46, above estimates for $0.39 EPS. The company also reiterated that it expects a 2% - 4% impact as a result of sequestration although further language suggests that impact will likely be limited.

Power Play -

Consumer -

Consumer ETFs were higher at mid-day: Consumer Staples Select Sector SPDR (XLP), up 0.61%, with a new 52-week high of $41.42; iShares Dow Jones US Consumer Goods (IYK), up 0.88%, with a new 52-week high of $87.30; and Vanguard Consumer Staples ETF (VDC), up 0.57%, with a new 52-week high of $104.62.

Retail ETFs were firmer, near their 52-week highs: SPDR S&P Retail (XRT), up 1.22%; PowerShares Dynamic Retail (PMR), up 0.83%; and Market Vectors Retail ETF (RTH), up 0.7% with a new 52-week high of $50.59.

In sector news, Coach (COH) was up 11.54%, trimming earlier gains of nearly 15% after reporting Q3 sales of $1.19 bln and EPS of $0.84, vs. the analyst consensus on Capital IQ of $1.18 bln in sales and earnings of $0.80 per share.

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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: EEM , EWJ , SPY , VXX , XLF

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