Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 ETF Trust (
): -0.32%, but with new 52-week highs
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
): +0.24%, earlier hit a 52-week low
iShares Russell 2000 Index (
): -0.52%, with new 52-week highs
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others turned negative in the session's half, although most of
them reached new 52-week highs earlier. Actively traded PowerShares
) was down 0.10%.
U.S. stocks also slipped into the red, as downbeat news overseas
dampened the better-than-expected data on U.S. services sector.
Market sentiment was weighed by the European Commission's cut on
its forecasts for economic growth in the euro zone - now expecting
growth of 1.1% in 2014, from the prior outlook of 1.2%. It also
said that unemployment in the region is expected to rise 12.2%,
from the prior forecasts of an increase of 12.1%. Back home, the
Institute for Supply Management reported that its survey of
purchasing managers rose to 55.4% in October, beating
Power Play: Consumer
Consumer ETFs are outperforming the broader market ETFs.
Consumer Staples Select Sector SPDR (XLP) was up 0.23%, reaching a
new 52-week high of $42.71; Vanguard Consumer Staples ETF (VDC) and
iShares Dow Jones US Consumer Goods (IYK) inched higher, also with
new 52-week highs.
Among stocks, Fabrinet (FN) was up nearly 11% and with a new
52-week high of $19.78 it reported late Monday Q1 EPS of $0.40, ex
one-time items, on revenues of $171.6 million - which topped
analysts' estimates. The company also provided Q2 guidance above
Winners and Losers
Select Financial Sector SPDRs (XLF) was off 0.36%, but near its
52-week high. Direxion Daily Financial Bull 3X shares (FAS) was
down 1.23%. Its bearish counterpart, FAZ, was up 1.07% after
sinking to a new 52-week low.
Among financial stocks, property and casualty insurer Amtrust
Financial Services, Inc. (AFSI) climbed 8% after reporting Q3 net
income totaled $58.2 million, or $0.74 per diluted share, on
revenues of $796.5 million. Analysts polled by Capital IQ had
expected EPS of $0.74 on revenues of $567 million.
Technology Select Sector SPDR ETF (XLK), iShares Dow Jones US
Technology ETF (IYW) and iShares S&P North American Technology
ETF (IGM) were lower, but earlier reached 52-week highs. iShares
S&P North American Technology-Software Index (IGV) was also
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 0.19% while Semiconductor Sector Index Fund (SOXX) was down
0.28%. SPDR S&P International Technology Sector ETF (IPK) was
up 0.15%, near its 52-week high.
Among stocks, BroadSoft (BSFT) was down more than 23% after
global provider of Voice Over IP (VoIP) communication services
reported Q3 EPS of $0.29, ex one-time items, on revenues of $42.9
million. Results fell short of Street forecasts. The company's
guidance for Q4 and FY13 also missed estimates.
Dow Jones U.S. Energy Fund (IYE) was down 0.4% and Energy Select
Sector SPDR (XLE) was down 0.53% - with both reaching new 52-week
In sector news, Quicksilver Resources (KWK) rose 8.88% after
saying Eni has agreed to pay up to $52 million to finance drilling,
completion and seismic costs at the Delaware Basin currently held
by Quicksilver in the Leon Valley area located in Pecos County,
Texas. For its investment, Eni will earn a 50% interest in
Quicksilver's Pecos County acreage. The company also earlier
reported Q3 results that missed expectations - it posted a Q3 loss
of $0.05 per share, ex special items, on revenues of $119.67
Crude was down 1.11%; United States Oil Fund (USO) was down
0.85%. Meanwhile, natural gas was up 0.48%, and United States
Natural Gas Fund (UNG) was up 0.35%, near its 52-week low.
Gold was down 0.39%, and SPDR Gold Trust (GLD) was down 0.32%.
Silver was down 0.18%; iShares Silver Trust (SLV) was down
Health Care SPDR (XLV) was down 0.36%, but reached a new 52-week
high; Vanguard Health Care ETF (VHT) and iShares Dow Jones US
Healthcare (IYH) were also weaker, but with fresh new 52-week
highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up
Among stocks, Endo Health Solutions (ENDP) climbed more than 28%
and was at record high levels after it reported Q3 adjusted diluted
EPS of $1.34, on revenues of $715 million, topping consensus
estimates. The company raised its FY13 guidance. ENDP also said
that it has acquired Paladin Labs Inc. (PLB.TO), a Canada-based
specialty pharmaceutical company, for $1.6 billion, of which
approximately 98% will be paid in shares of stock.
Select Sector SPDR-Industrial (XLI) was up 0.27%, and posted a
new 52 week high. iShares Trust Dow Jones U.S. Industrial Sector
Index Fund (IYJ) and Vanguard Industrials (VIS) both also reached
new 52-week highs, but were weaker.
Among stocks, Zebra Technologies (ZBRA) was up some 9%, touching
a new 52-week high after the manufacturer of specialty printing
devices reported late Monday Q3 earnings of $0.77 per share, ex
one-time items, on revenues of $263.5 million - better than
analysts' forecasts. Its Q4 guidance of $0.72 - $0.82 on revenues
of $263 million - $273 million are also above the Street view.
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