Active broad-market exchange-traded funds:
SPDR S&P 500 (
PowerShares QQQ Trust, Series 1 (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are weaker. Actively traded PowerShares QQQ (
) is down 0.66%.
U.S. stocks have cut some of their losses, but are still weighed
down by Hewlett-Packard's (HPQ) earlier report that its results
included a $8.8 billion write-down stemming from "serious
accounting improprieties" at Autonomy, a software company it bought
in 2011. Earnings reports from other companies such as Best Buy
(BBY) were also lackluster. Market sentiment was buoyed by a report
that construction of new homes jumped 3.6% in October to its
highest rate since July 2008, but optimism has since been
overshadowed by Moody's downgrade of France's credit rating to Aa1
and concerns over the fighting between Israel and Palestinian
groups in the Gaza Strip in the Middle East.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.32%. Direxion Daily Financial Bull 3X shares (FAS) is up
0.4%. Its bearish counterpart, FAZ, is down 0.3%.
Among financial actives, Eaton Vance (EV) is up 3.4%, touching
fresh new year highs. The company reported Q4 earnings of $0.53 per
share, ex one-time items, versus the Capital IQ consensus of $0.48.
Revenues were $309.89 mln, versus the analyst estimate of $301.09
mln. In the same period last year, the company reported EPS of
$0.47 on revenues of $297.32 mln.
are weaker: Technology Select Sector SPDR ETF (XLK), down 0.9%;
iShares Dow Jones US Technology ETF (IYW), down 0.9%; iShares
S&P North American Technology ETF (IGM), down 0.49%; and
iShares S&P North American Technology-Software Index (IGV),
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
flat while Semiconductor Sector Index Fund (SOXX) is down 1.1%.
SPDR S&P International Technology Sector ETF (IPK) is up
In sector news, Daktronics (DAKT) is up near 14% after reporting
Q2 earnings of $0.27 per share, ex one-time items, versus the
Capital IQ consensus of $0.15. Revenues were $149.9 mln, versus the
analyst estimate of $142.78 mln. The company said that it expects
sales and gross profit margins for the rest of the year to lag
those of the first half of the year.
Dow Jones U.S. Energy Fund (IYE) is down 0.55%; Energy Select
Sector SPDR (XLE) is down 0.75%.
In sector news, Hyperdynamics Corporation's (HDY) wholly owned
subsidiary SCS Corporation Ltd has entered into an agreement with
Tullow Guinea Ltd., a subsidiary of Tullow Oil plc, for the sale of
a 40% gross interest in Hyperdynamics' oil and gas exploration
concession offshore Guinea and the transfer of operatorship to
Tullow. HDY is down 8%, nearing 52-week lows.
Crude was down 3.16%; natural gas was up 2.08%. United States
Oil Fund (USO) is down 2.9%. United States Natural Gas Fund (UNG)
is up 1.69%.
Gold was down 0.52%; silver was down 0.67%. Among rare metal
funds, SPDR Gold Trust (GLD) is down 0.455%; iShares Silver Trust
(SLV) is down 0.47%.
Despite gapping lower, an earlier report on Bloomberg stated
that gold had upbeat prospects in 2013. According to the report,
the stimulus from the central bank has encouraged investors to
"accumulate the highest combined bullion holdings ever."
According to Bloomberg analysts, gold will rise in every quarter
in 2013, averaging at $1,925 an ounce in the final quarter.
Investment firm Paulson & Co. has a $3.67 billion bet through
the SPDR Gold Trust (GLD), and Soros Fund Management LLC increased
its holdings by 49% in the third quarter, Bloomberg added, citing
Healthcare ETFs are higher in mid-day action: Health Care SPDR
(XLV), flat; Vanguard Health Care ETF (VHT), flat; and iShares Dow
Jones US Healthcare (IYH), up 0.26%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) is up 1.2%.
In corporate news, OXiGENE (OXGN) is up 10% from near year lows
after it reported the results of its Phase 2 trial of ZYBRESTAT
(fosbretabulin) in patients with polypoidal choroidal vasculopathy
(PCV), a disease involving abnormal blood vessels of the macula
characterized by recurrent serosanguinous detachment of the retinal
pigment epithelium (RPE), submacular hemorrhage and development of
subretinal polyps with resulting vision loss.
Power Play -
Consumer ETFs are firmer: Consumer Staples Select Sector SPDR
(XLP), now down 0.4%; iShares Dow Jones US Consumer Goods (IYK), up
0.26%; and Vanguard Consumer Staples ETF (VDC), down 0.45%.
Retail ETFs are mostly higher: SPDR S&P Retail (XRT), down
0.74%; PowerShares Dynamic Retail (PMR), up 0.5%; and Market
Vectors Retail ETF (RTH), now down after earlier hitting a new year
high of $44.13.
In sector news, DSW (DSW) is up 8.8% and has hit a new 52-week
high of $69.35. The footwear and accessories specialty retailer
reported earlier Q3 earnings of $1.02 per share, ex one-time items,
versus the Capital IQ consensus of $0.89. Revenues were $592.7 mln,
versus the analyst estimate of $588.52 mln. Comparable sales
increased 6.3%. DSW also reiterates its FY12 EPS guidance of $3.30
- $3.40, ex one time item, versus the consensus of $3.35.
Comparable sales are expected to grow in the mid-single digit
range, which includes an estimated sales impact from Hurricane