Active broad-market exchange-traded funds at Wednesday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series 1 (
Select Sector SPDR Fund - Financial (
Broad Market Indicators
Most broad market exchange-traded funds were lower. Actively
traded PowerShares QQQ (
) was down 0.48%, but still near its 13-year high.
U.S. stocks were mostly lower, reversing earlier gains as
investors digest the report that construction on new homes in the
U.S. fell 16% in January to a seasonally adjusted annual rate of
880,000 - missing forecasts. The weak housing data overshadowed
earnings and M&A news, which had earlier lifted market
sentiment. U.S. producer prices rose in January, according to the
government's new formula for measuring wholesale inflation.
Power Play: Healthcare
Health care funds are outpacing the broader market at session's
half. Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) all reached record highs.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) also touched
an all-time high.
In corporate news, Chelsea Therapeutics International (CHTP)
continued to soar and was up some 29%, reaching a three-year high,
after the pharmaceutical company received approval from the U.S.
Food and Drug Administration for its NORTHERA treatment for
symptomatic neurogenic orthostatic hypotension. Symptomatic NOH is
an autonomic nervous system disorder caused by failure to produce
and or release adequate amounts of norepinephrine upon standing.
Norepinephrine deficiency results in an inability for a person to
maintain adequate blood pressure and blood flow to the brain.
Winners and Losers
Select Financial Sector SPDRs (
) was off 0.42%. Direxion Daily Financial Bull 3X shares (FAS)
edged lower 0.03%. Its bearish counterpart, FAZ, was down
Among financial stocks, Eaton Vance (EV) was up nearly 2% after
it reported adjusted earnings per diluted share of $0.58 for Q1
2014, an increase of 16% over the $0.50 of adjusted earnings per
diluted share in Q1 2013, but below the $0.59 per share expected by
analysts, according to Capital IQ. Q1 revenue was $360 million, up
from $318 million a year prior, but short of the $368 million the
Technology Select Sector SPDR ETF (XLK) and iShares Dow Jones US
Technology ETF (IYW) reached their highest levels in nearly 13
years while iShares S&P North American Technology ETF (IGM) and
iShares S&P North American Technology-Software Index (IGV) both
hit all-time highs. SPDR S&P International Technology Sector
ETF (IPK) was up 1.8%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) also hit record highs.
In stocks news, Ultra Clean Holdings (UCTT) was up almost 11%
and reached a 6-year high after it reported late Tuesday Q4 sales
of $126.3 million, beating the Thomson Reuters mean estimate for
$125.68 million. Less items, EPS were $0.26, above forecasts for
Dow Jones U.S. Energy Fund (IYE) was up 0.86%, and Energy Select
Sector SPDR (XLE) was up 0.98%.
In corporate news, Nabors Industries (NBR) climbed some 12% and
hit a two-year high after it reported late Tuesday Q4 net income
from continuing operations was $0.42 per diluted share and revenue
was $1.6 billion. The Street consensus, if comparable, was for
$0.20 per share on $1.5 billion in revenue, according to Capital IQ
Crude was up 0.53%; United States Oil Fund (USO) was up 0.33%.
Natural gas was up 2.55% and United States Natural Gas Fund (UNG)
was up 3.2%.
Gold was down 0.4% and silver was down 0.26%. Among rare metal
funds, SPDR Gold Trust (GLD) was down 0.19%; iShares Silver Trust
(SLV) was down 0.57%.
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK)
In stocks news, Dorman Products (DORM) was up more than 9% after
the company reported Q4 net income rose to $20.6 million, or $0.56
per share, from $15.3 million, or $0.42 per share. Analysts polled
by Capital IQ were looking for $0.54 per share. Net sales climbed
26% to $169.8 million, topping analysts' mean estimate of $162
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