Active broad-market exchange-traded funds in Thursday's regular
SPDR S&P 500 (
): -0.15%, but near its 52-week high.
iShares MSCI Emerging Markets Index (
PowerShares QQQ Trust, Series 1 (
): -0.3%, but near 52 week highs.
iShares MSCI Japan Index (
Market Vectors Gold Miners (
): -1.6%, with a new 52-week low
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, were weaker. Likewise, PowerShares QQQ (
) was down 0.3%, but still near its 52-week high.
Most U.S. stocks were also in negative territory, but most have
pared off losses at session's half. Following the initial surge on
the back of the Fed's policy announcement late Wednesday, market
sentiment has lost some of its optimism on today's mixed economic
data. Weekly jobless claims jumped to their highest level since
late March, while existing home sales for November declined 4.3% to
a seasonally adjusted annual rate of 4.9 million. The Philadelphia
Fed's manufacturing index rose to 7 in December, but this missed
expectations. Leading indicators index showed a more upbeat
reading, rising to 98.3 for November; this indicates a modest
expansion in the U.S. economy.
Power Play: Energy
Dow Jones U.S. Energy Fund (IYE) has turned slightly positive
while Energy Select Sector SPDR (XLE) was also up.
In sector news, USEC (USU) was up more than 20%, but still at
the low end of its 52 week range after it said the United States
Department of Energy is prepared to extend the American Centrifuge
cooperative research, development and demonstration program for
three months beyond January 15, 2014, subject to Congressional
appropriations. DOE and USEC will share costs of the program on an
80%/20% basis for a total funding level of approximately $10
million per month.
Winners and Losers
Select Financial Sector SPDRs (XLF) was slightly lower, but near
its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was
down 0.4%. Its bearish counterpart, FAZ, was up 0.4%.
Tech funds, including Technology Select Sector SPDR ETF (XLK)
and iShares Dow Jones US Technology ETF (IYW) were mixed. iShares
S&P North American Technology-Software Index (IGV) and iShares
S&P North American Technology ETF (IGM) were higher and both
reached new 52-week highs.
SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index
Fund (SOXX) were weaker but still near their respective 52-week
In sector news, IAC/InterActiveCorp (IACI) was up more than 15%
and hit a new 52-week high after the company said as part of its
reorganization efforts, Greg Blatt, the company's CEO, will become
the chairman of the newly created Match Group, which will initially
consist of IAC's Match businesses, Tutor.com, DailyBurn and IAC's
investment in Skyllzone. Sam Yagan, the CEO of Match, will become
CEO of the Group, and will focus on growing the dating businesses,
leveraging best practices across the Match Group, and expanding the
Match Group portfolio beyond its current verticals. Blatt will step
down as CEO of IACI, and the company does not intend to name a new
CEO. Instead, Joey Levin, CEO of Search & Applications, and
Kerry Trainor, CEO of Vimeo, will now report directly to Barry
Diller, the chairman and senior executive of the company.
Crude was up 0.87% and natural gas was up 4.37%. United States
Oil Fund (USO) was up 1.5%; United States Natural Gas Fund (UNG)
was up 3.8%.
Gold was down 2.88% and SPDR Gold Trust (GLD) was down 2% and
nearer to 52 week lows. Silver was down while iShares Silver Trust
(SLV) was down 3%, and also closer to its 52 week lows.
Health Care SPDR (XLV) and other healthcare funds Vanguard
Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH)
were weaker today. iShares NASDAQ Biotechnology Index (IBB) was
down too, 0.5% lower.
Among stocks, Neogen Corporation (NEOG), which makes food and
animal safety products, said Q2 net income was $6.2 million,
compared with $6.79 million a year ago. Adjusted for a 3-for-2
stock split effective Oct. 31, 2013, EPS were $0.17, compared to
$0.19 a year ago, below the consensus forecast for $0.19 on Capital
IQ. Revenues increased 17% to $59.59 million, helped by two
acquisitions completed this year and beating analysts' estimates of
$58.1 million. The company's earnings compare unfavorably with last
year when an outbreak of aflatoxin and DON in the U.S. and EU grain
markets pushed up revenue. The stock is down more than 7%.
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were
weaker but still trading at the higher end of their 52-week
Retail ETFs SPDR S&P Retail (XRT) and PowerShares Dynamic
Retail (PMR) were also lower; Market Vectors Retail ETF (RTH)
slipped into the red but reached a new 52-week high of $60.70
Among stocks, Rite-Aid (RAD) shares were down some 9% after it
reported Q3 revenues of $6.36 billion, up from $6.2 billion a year
prior. The Street expected $6.3 billion in revenues, according to
Capital IQ estimates. Net income was $0.04 per diluted share,
including $0.03 per share related to redeeming preferred stock,vs.
$0.07 per share a year prior. Analysts expected $0.04 per share.
RAD also updated its fiscal 2014 guidance with sales expected to be
between $25.3 billion and $25.425 billion and same store sales to
range from an increase of 0.35 percent to 0.85 percent compared to
fiscal 2013. The Street consensus is $25.3 billion in revenue and
earnings of $0.22 per share.
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