Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ETF Trust (
): +0.5%, with a new 52-week high.
iPath S&P 500 VIX Short Term Futures TM (
): -1.7%, with a new 52-week low.
iShares MSCI Emerging Markets Index (
Select Financial Sector SPDRs (
): +0.17%, with a new 52-week high.
iShares Russell 2000 Index (
): +0.9%, with a new 52-week high.
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
actively traded PowerShares QQQ (QQQ), among others, were sharply
higher, some hitting new 52-week highs although VXX hit a new year
U.S. stocks were also in the green, as mostly upbeat earnings
have restored some of the investor confidence that had whittled
away during the government shutdown and budget deal impasse in the
past few weeks. Google's (GOOG) strong results continued to drive
internet and tech stocks higher. Consumer and financial sectors
however were underperforming the broader market.
Power Play: Technology
Internet stocks and ETFs continued to lead the day's gainers, as
tech giant Google (GOOG) maintained its upward momentum, up nearly
13% at last check and breaking above $1000. GOOG reported Q3
revenue of $14.89 billion, better than the analyst consensus of
$14.80 billion on Capital IQ. EPS was $10.74, vs. expectations of
$10.37 per share.
Among internet and tech stocks: First Trust DJ Internet Index
Fund (FDN), iShares Dow Jones US Technology ETF (IYW), PowerShares
Nasdaq Internet Portfolio (PNQI), Technology Select Sector SPDR ETF
(XLK), iShares S&P North American Technology ETF (IGM), and
iShares S&P Global Technology Sector (IXN) all hit new 52-week
highs. These ETFs all maintain more than 5% exposure to Google.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were also in the green,
reaching their own 52-week highs. SPDR S&P International
Technology Sector ETF (IPK) was flat.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.2% and earlier touched a new 52-week high. Likewise,
Direxion Daily Financial Bull 3X shares (FAS) hit a new 52-week
high, up 0.5% at last check. Its bearish counterpart, FAZ, was down
0.5%, sinking to a new 52-week low.
Among stocks, Morgan Stanley (MS) was up about 3% and climbed to
a new 52-week high after reporting Q3 revenue of $7.9 bln, vs. the
analyst consensus of $7.52 bln on Capital IQ. EPS was $0.50, vs.
expectations of $0.41 per share.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) both reached new 52 week highs.
In sector news, W&T Offshore, Inc. (WTI) has entered into an
agreement with Callon Petroleum Operating Company (CPE) to acquire
substantially all of Callon's exploration and production properties
in the Gulf of Mexico. The transaction includes a 15% working
interest in the Medusa field, a 10% membership interest in Medusa
Spar LLC and various interests in 12 non-operated Gulf of Mexico
fields. WTI shares were up 2% and CPE shares were up 11%, with both
reaching new 52-week highs.
Crude was up 0.02%; United States Oil Fund (USO) was up 0.3%.
Natural gas was down 1.28%, and United States Natural Gas Fund
(UNG) was down 0.05%.
Gold was down 0.57%, and SPDR Gold Trust (GLD) was down 0.5%.
Silver was down 0.08%; iShares Silver Trust (SLV) was up 0.50%.
Consumer Staples Select Sector SPDR (XLP) was off 0.1%. iShares
Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF
(VDC) were mixed, slightly up and slightly lower respectively.
In sector news, Chipotle Mexican Grill (CMG) was up 14% and
touched a new 52-week high after it reported late Thursday Q3
revenue increased 18.0% to $826.9 million and diluted earnings per
share was $2.66, an increase of 17.2%. Analysts expected $820
million in revenue and earnings of $2.78 in Q3. For 2013, Chipotle
expects mid single-digit comparable restaurant sales and to open
165 to 180 new restaurants.
Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH)
and Vanguard Health Care ETF (VHT) all hit new 52-week highs but
were slipping lower at last check. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) was down 1.4%.
In corporate news, Ariad Pharmaceuticals Inc. (ARIA) tumbled 38%
and hit a new 52-week low of $2.62 after the cancer-treatment
company said it is discontinuing the Phase 3 EPIC (Evaluation of
Ponatinib versus Imatinib in Chronic Myeloid Leukemia) trial of
Iclusig (ponatinib) in patients with newly diagnosed chronic
myeloid leukemia. The company said it and the U.S. Food and Drug
Administration mutually agreed the trial should be terminated
because arterial thrombotic events were observed in patients
treated with Iclusig. The decision was made in the interest of
patient safety based on a recent assessment of data in the clinical
Select Sector SPDR-Industrial (XLI) was up 0.83%; iShares Trust
Dow Jones U.S. Industrial Sector Index Fund (IYJ) was firmer, while
Vanguard Industrials (VIS) touched a new 52-week high.
Among stocks, GE (GE) was up 3.7% and hit a new 52-week high
after reporting Q3 operating EPS of $0.36, vs. the analyst
consensus of $0.36 per share on Capital IQ and the Thomson Reuters
consensus of $0.35 per share. Revenue was $35.7 billion, vs.
expectations of $36 billion.
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