Active broad-market exchange-traded funds in Thursday's regular
SPDR S&P 500 (
): +0.2%, has turned positive
iPath S&P VIX Short Term Futures (
iShares MSCI Emerging Markets Index (
): +1.2% from near year lows
Select Sector SPDR Fund Financial (
iShares Russell 2000 Index (
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, are higher, some recovering after earlier losses.
Actively traded PowerShares QQQ (QQQ) was down 0.4%.
U.S. stocks were finding it hard to make gains as 10-year
Treasury yield rose to 2.5%. Oracle (ORCL) led information
technology stocks lower, weighing on the broader market, following
its disappointing quarterly financial report late Thursday.
Earlier, St. Louis Fed President James Bullard said he had voted
against the Fed's policy decision because he thought the
announcement of such "tapering" plans would have been
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.1%. Direxion Daily Financial Bull 3X shares (FAS) was up
1%. Its bearish counterpart, FAZ, was down 0.8%.
Among financial stocks, Morgan Stanley (MS) turned negative and
was down 1%. It announced Friday that it received all regulatory
approvals to acquire the remaining 35% interest in Morgan Stanley
Smith Barney Holdings LLC from Citigroup Inc.(C). Citi shares were
Dow Jones U.S. Energy Fund (IYE) was up 0.1%; Energy Select
Sector SPDR (XLE) up 0.1% at last check.
In sector news, Hess Corp (HES) and Newfield Exploration (NFX)
are jockeying to sell part of their Asian oil and gas field stakes
in two separate auctions with a combined value of about $3 billion,
Reuters reports, citing "people familiar with the matter." HES
shares slipped 1.2% while NFX shares are now up 0.4%.
July crude was down 3.36%; July natural gas was down 0.23%.
United States Oil Fund (USO) turned negative and was down 0.8%.
United States Natural Gas Fund (UNG) was down 1.9%.
August gold was up 0.72% and silver for July delivery was up
0.01%. Among rare metal funds, SPDR Gold Trust (GLD) was up 1.55%;
iShares Silver Trust (SLV) was up 3%.
Consumer Staples Select Sector SPDR (XLP) was up 1.5%; other
iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer
Staples ETF (VDC) were also in the green.
In sector news, CarMax (KMX) was down 2%, reversing earlier
gains, after it reported Q1 net sales and operating revenues
increased 19% to $3.31 billion from a year prior. Net earnings grew
21% to $146.7 million with earnings per diluted share up 23% to
$0.64 from a year prior. Analysts expected $0.58 per share on $3.2
billion in revenue for Q1.
Healthcare ETFs Health Care SPDR (XLV) was up 1%; Vanguard
Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH)
were firmer. As was Biotech ETF iShares NASDAQ Biotechnology Index
(IBB), which was lower.
In corporate news, Idenix Pharmaceuticals (IDIX) was down 30%
and nearer 52 week lows after the company said it received verbal
communication from the FDA requesting additional preclinical safety
information for IDX20963, its lead uridine nucleotide prodrug
candidate. The company expects a delay in initiation of its
Power Play -
Tech ETFs Technology Select Sector SPDR ETF (XLK) slipped 0.5%.
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 lower.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.6% and Semiconductor Sector Index Fund (SOXX) was up 0.4%.
SPDR S&P International Technology Sector ETF (IPK) turned
good to be up 0.5%.
In sector news, Oracle (ORCL) was down near 9% after it reported
late Thursday Q4 revenue of $11.0 bln, below the analyst consensus
of $11.12 bln on Capital IQ. EPS was $0.87, vs. expectations of
$0.88. On the company's conference call, ORLC guided 1Q revenue
growth to 3% - 6% and Non GAAP 1Q EPS $0.56 - $0.59. This compares
to current consensus of $8.774 billion for the top line (+4.5% y/y)
and $0.58 on the bottom line (+9.4% y/y). Given the low bar, ORCL
was expected to meet or exceed current forecasts.