Active broad-market exchange-traded funds at Tuesday's regular
SPDR S&P 500 (
): -0.16%, but still near its all-time high.
Select Financial Sector SPDRs (
): -0.30%, near its five-year high
iShares MSCI Emerging Markets Index (
Market Vectors Gold Miners (
PowerShares QQQ Trust, Series 1 (
): +0.24%, reaching a 13-year high.
Broad Market Indicators
Broad market exchange-traded funds were in the negative
territory at the session's half, but most were still near their
record or multi-year high. Actively traded PowerShares QQQ (
) was up 0.24, reaching a new 13-year high of $88.59.
U.S. stocks were also mostly weaker following tepid earnings
results from several companies. Market sentiment soured after
Goldman Sachs issued valuation warnings, saying that the S&P
500 "is lofty by almost any measure." The IMF also said that global
financial markets have not yet recovered from the Federal Reserve's
announcement of tapering its bond-buying program in May 2013,
resulting in continued volatility.
Power Play: Healthcare
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) continued to outperform the
broader market and reached fresh record highs. Biotech ETF iShares
NASDAQ Biotechnology Index (IBB) was up 0.81% and also reached an
In corporate news, Amarin Corporation (AMRN) was down some 24%
after the company reported that the FDA's Division of Metabolism
and Endocrinology Products said it will not reinstate ANCHOR SPA
agreement. The company, however, said it plans to appeal the
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.34%, but still near its highest level since May 2008.
Direxion Daily Financial Bull 3X shares (FAS) was down 0.67%. Its
bearish counterpart, FAZ, was up 0.61% and was near an all-time
Among financial stocks, Signature Bank (SBNY) jumped to a record
high and was up 12.56% at last check after the company reported Q4
earnings that topped expectations. The bank said adjusted diluted
EPS for Q4 was $1.34, beating the Thomson Reuters consensus by
$0.07. Year-ago adjusted diluted EPS was $1.05. Net interest income
for the quarter was $178.3 million, up $31.2 million, or 21.2%,
when compared with the same period last year, primarily due to
growth in average interest-earning assets.
Technology Select Sector SPDR ETF (XLK) was down 0.21%, but just
below its 12-year high. 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 mixed,
but most were near or reached their 52-week highs. SPDR S&P
International Technology Sector ETF (IPK) was up 0.83%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.19% while Semiconductor Sector Index Fund (SOXX) was down
In stocks news, Internet security and transaction services
company Inteliquent, Inc. (IQNT) was up 20% after announcing Monday
that Kurt Abkemeier has been appointed chief financial officer and
executive vice president, effective immediately. He replaces Eric
Carlson, the company's interim principal financial officer and
interim principal accounting officer from August 2013. Shares also
were upgraded at Raymond James.
Dow Jones U.S. Energy Fund (IYE) was down 0.14%, while Energy
Select Sector SPDR (XLE) was up 0.06%.
In corporate news, oilfield services company Baker Hughes
Incorporated (BHI) was up 1.87% after the company reported adjusted
diluted EPS for Q4 was $0.62 per share, better than the Capital IQ
consensus of $0.61. Adjusted net income was $277 million. Revenues
for the period were $5.9 billion, topping estimates by $0.2
billion. In the same period last year, adjusted diluted EPS was
$0.49, or a net income of $214 million, on revenues of $5.3
Crude was up 0.55%; United States Oil Fund (USO) was up 0.45%.
Natural gas was up 0.32%, near its 52-week high and United States
Natural Gas Fund (UNG) was up 2.59%.
Gold was up 0.19% and silver was up 0.72%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 1%; iShares Silver Trust
(SLV) was down 1.85%.
Consumer Staples Select Sector SPDR (XLP) was up 0.01; other
consumer ETFs Vanguard Consumer Staples ETF (VDC) and iShares Dow
Jones US Consumer Goods (IYK) were also lower.
In stocks news, Delta Air Lines Inc. (DAL) was up 3% and reached
a new 52-week high after management forecast a significant
improvement in profit this year compared with the previous year
during a conference call for analysts, according to a Reuters
report. The company also said it expects to complete a $500 million
buyback authorization by June this year, according to the Reuters
report. The company earlier in the day reported Q4earnings of $0.65
per share, exceeding the Capital IQ analyst consensus estimate by a
penny. Total operating revenue rose 6% to $9.08 billion, in line
with the $9.1 billion consensus estimate.