Active broad-market exchange-traded funds:
SPDR S&P 500 (
iShares MSCI Japan Index (
Financial Select Sector SPDR (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed. Actively traded PowerShares QQQ (QQQ) is down
U.S. stocks continue to be battered, with downbeat economic data
and fiscal cliff fears weighing down on market sentiment. Earlier,
the Labor Department reported that due to the impact of Hurricane
Sandy, weekly jobless claims rose to an 18-month high, with
continuing claims also increasing. Additionally, consumer prices
rose in October, and the Empire State and Philadelphia
manufacturing gauges posted negative readings, also affected by
Sandy. Investors are now fretting over the latest blow to global
growth, the Euro-zone slipping back into recession in the third
quarter, as the region's debt crisis drags on.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.1%. Direxion Daily Financial Bull 3X shares (FAS) is up
0.25%. Its bearish counterpart, FAZ, is down 0.15%.
Among financial stocks, Bluegreen Corp (BXG) is up 54.69% after
climbing to new 52-week highs. Earlier, BFC Financial (BFCF)
terminated the companies' prior merger agreement and will instead
pay $10 a share in cash to acquire all BXG shares it doesn't
are lower in mid-day trading: Technology Select Sector SPDR ETF
(XLK), down 0.65%; iShares Dow Jones US Technology ETF (IYW), down
0.4%; iShares S&P North American Technology ETF (IGM), down
0.46%; and iShares S&P North American Technology-Software Index
(IGV), down 0.02%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is down
1.6% at year low levels; Semiconductor Sector Index Fund (SOXX) is
SPDR S&P International Technology Sector ETF (IPK) is
In sector news, Velti (VELT) has lost a third of its value and
hit a new year low after the company reported late Wednesday a Q3
loss of $0.03 per share, missing the Capital IQ consensus estimate
of $0.03 EPS. Revenues of $62.4 mln fell in line with the consensus
of $62.04 mln. The company projects Q4 revenues of $97.1 - $113.1
mln, below the Street view of $121.17 mln. FY12 revenues are
expected to be $270 mln - $286 mln, versus the consensus of $293.71
Dow Jones U.S. Energy Fund (IYE) is down 0.15%. Energy Select
Sector SPDR (XLE) is down 0.1%.
In sector news, BP (BP) is up 0.3% as it reached a settlement
with the U.S. Department of Justice for $4 billion to end all
criminal charges relating to the worst U.S. oil spill.
Crude was down 1.60%; likewise, natural gas was down 0.23%.
United States Oil Fund (USO) is down 1.5%. United States Natural
Gas Fund (UNG) is up 0.05%.
Gold was down 0.97% and silver was down 1.31%. Among rare metal
funds, SPDR Gold Trust (GLD) is down 0.6%; iShares Silver Trust
(SLV) is down 0.13%.
Healthcare ETFs are in the red in mid-day trading: Health Care
SPDR (XLV), down 0.4%; Vanguard Health Care ETF (VHT), down 0.6%;
and iShares Dow Jones US Healthcare (IYH), down 0.3%. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) is down 1.4%.
In corporate news, Tranzyme (TZYM) continues to crater, now down
75%, with a fresh year low of $0.95. The company reported that the
first of two Phase 2b trials assessing the safety and efficacy of
its oral ghrelin agonist, TZP-102 in diabetic patients with
gastroparesis, did not meet its primary endpoint. Based on the
initial analysis of top-line results, there was no statistical
difference in the reduction in the severity of patients'
gastroparesis symptoms, in both the 10 mg dose group and the 20 mg
dose group versus placebo. TZYM also saw two downgrades - shares
were downgraded to Market Perform at JMP Securities, and to Hold at
Power Play -
Retail ETFs are weaker: SPDR S&P Retail (XRT), now slightly
higher; PowerShares Dynamic Retail (PMR), down 0.86%; and Market
Vectors Retail ETF (RTH), down 0.7%, but earlier touched a new year
high of $43.21.
Among stocks, E Commerce China Dangdang Inc. (DANG) is up 13.32%
after it announced today that in Q3 it pulled in net revenues of
RMB 1,287.6 million ($204.9 million), a 41.7% increase from the
corresponding period in 2011. DANG also reported that for Q4 it
expects total net revenues to be around RMB 1,610 million.
According to Thomson Reuters' I/B/E/S Estimates, analysts are
expecting the company to report revenue of RMB 1,614 million.
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