Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
Financial Select Sector SPDR (
iPath S&P 500 VIX ST Futures ETN (
PowerShares QQQ Trust, Series 1 (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
many others, continue to be in the negative territory. Actively
traded PowerShares QQQ (
) is down 0.7%.
U.S. stocks are broadly lower on investor disappointment
following ECB President Mario Draghi remarks that the Governing
Council of the ECB unanimously agreed not to cut key rates. Draghi
repeated earlier pledges to preserve the euro, saying the ECB may
act. But again, he did not provide concrete details as to how, and
when it will take action.
Winners and Losers
Select Financial Sector SPDRs (
) is down 1.4%. Direxion Daily Financial Bull 3X shares (FAS) is
down 3.8%. Its bearish counterpart, FAZ, is up 3.5%.
Actives in the sector are weaker: Bank of America (BAC), down
1%; Morgan Stanley (MS), down 3.2%; Citigroup (C), down 2.4%; and
Goldman Sachs (GS), down 2.9%.
Knight Capital Group (KCG) is now down 56% and has hit new year
lows. The broker and trading platform company yesterday reported a
software glitch, which affected almost 150 stocks. Now the company
has disclosed that it was hit by a $440 mln pretax loss as a result
of exiting the erroneous trading position caused by its software
glitch. The glitch, the company notes, was caused by the
installation of trading software.
Tech actives are continue to be in the red: Apple (AAPL), down
0.2%; Microsoft (MSFT), down 1%; Intel (INTC), down 0.5%; Google
(GOOG), down 1%; Cisco (CSCO), down 1.8%; and Yahoo (YHOO), down
First Solar (FSLR) is up 25% after the company reported in
yesterday's after hours session that Q2 EPS was $1.27, above
estimates of $0.90. Revs for the quarter came in at $957 mln,
widely topping estimates of $819 mln. Based on cost structure
reductions, FSLR revised 2012 guidance as follows: net sales of
$3.6 billion - $3.9 billion, compared to prior guidance of $3.5
billion - $3.8 billion. EPS to $4.20-$4.70, compared to prior
guidance of $4.00-$4.50.
Cavium (CAVM) is up 9% after it reported Q2 EPS of $0.07,
beating the Capital IQ consensus estimate of $0.02. Revenues came
in at $55.3 mln, also topping estimates of $55.11 mln.
Yelp (YELP) continues to gap higher, now up 18%. The company
posted a Q2 loss of $0.03 per share, compared with the prior year
period's $0.08 loss per share and narrower than the Capital IQ
consensus of $0.06 loss per share. Revenues were $32.7 mln, up
66.8% from last year's $19.6 mln, and above the analyst estimate of
$30.69 mln. For Q3, the company sees revenues of $34.5 mln - $35.5
mln, just above the consensus of $34.40 mln. The company expects
FY12 revenue guidance range to be $135 mln - $136 mln. Analysts are
looking for $130.99 mln in revenues.
ETFs join the broader market lower: Technology Select Sector
SPDR ETF (XLK), down 0.8%; iShares Dow Jones US Technology ETF
(IYW), off 0.8%; iShares S&P North American Technology ETF
(IGM), down 1%; and iShares S&P North American
Technology-Software Index (IGV), down 0.9%.
SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index
Fund (SOXX) are lower, down 0.2% and 1%, respectively.
SPDR S&P International Technology Sector ETF (IPK) is down
Dow Jones U.S. Energy Fund (IYE) is down more than 2% while
Energy Select Sector SPDR (XLE) is also down more than 2%.
Tesoro (TSO) is up 11% and hit new year highs. It reported Q2
2012 net income of $387 million, or $2.75 per diluted share
compared to net income of $218 million, or $1.52 per diluted share
for the second quarter of 2011. Ex-items, EPS for the period was
$2.87, in-line with the Capital IQ analyst consensus. Revenues for
the period were $8.105 billion, also in-line with the Street view,
compared to $7.96 billion for the corresponding 2011 period.
Energizer Holdings (ENR) is down 2% after it reported Q3
adjusted earnings of $1.18 per share, ex one-time items, versus the
Capital IQ consensus of $1.31. Revenues were $1.12 bln, versus the
analyst estimate of $1.23 bln. The company reaffirms its guidance
for FY12, still expecting EPS of $6.00 - $6.20, in line with
Boardwalk Pipeline Partners (BWP) is 5.5% lower after announcing
that it will sell 10.5 million common units in a public
Crude was down around 1.3%; natural gas was down 6.34% and was
near the 52-week low of $2.22; United States Oil Fund (USO) is down
1%. United States Natural Gas Fund (UNG) was down 5.5%.
Gold was down 0.84% while silver was down 1.63% . Among rare
metal funds, SPDR Gold Trust (GLD) is down 0.7% and iShares Silver
Trust (SLV) is down 1.4%.
ETFs continue to gap lower: Health Care SPDR (XLV), down 1.3%;
iShares NASDAQ Biotechnology Index (IBB), down 0.2%; Vanguard
Health Care ETF (VHT), down 1.1%; and iShares Dow Jones US
Healthcare (IYH), down 1.3%.
Gilead Sciences (GILD) is up 9.5% and hit new year highs. The
company signed an agreement with Mylan Inc. (MYL) subsidiary Mylan
Laboratories Limited, Ranbaxy Laboratories Limited and Strides
Arcolab, under which MYL has licensed the rights to produce and
market generic versions of GILD's HIV/AIDS therapies containing
Emtricitabine, including single and fixed-dose combinations.
Emtricitabine is marketed by GILD under the brand name Emtriva. MYL
shares are down 1.5%.
Idenix Pharmaceuticals (IDIX) is down 1%, having lost itts
earlier gains, after announcing late yesterday that it has
commenced an underwritten registered public offering of $150
million of its common stock.
Bristol Myers Squibb (BMY) is down 8% following the company's
announcement late yesterday that it has voluntarily suspended its
clinical trial of a hepatitis C drug after a serious safety issue
emerged. The Phase two study was of BMS-986094, formerly known as
INX-189, a nucleotide polymerase inhibitor. The company has yet to
determine the potential relationship between the drug and the
safety issue. Additionally, BMY has undertaken an immediate
assessment of all patients in the study and will evaluate the
Power Play -
ETFs are lower despite gainers among stocks: Consumer Staples
Select Sector SPDR (XLP), down near 1%; iShares Dow Jones US
Consumer Goods (IYK), down %; and Vanguard Consumer Staples ETF
(VDC), down 0.8%.
SPDR S&P Retail (XRT) is off 1%; PowerShares Dynamic Retail
(PMR), down 0.2%; and Market Vectors Retail ETF (RTH), down 0.2%,
having earlier hit new year highs.
Abercrombie & Fitch (ANF) is down 15%, and earlier sank to
new 52-week lows after it reported late Wednesday that Q2 sales
were $951.4 mln, below the analyst consensus of $1.00 bln,
according to Capital IQ. The company expects to report EPS of about
$0.15 to $0.18, vs. Street estimates of $0.33 per share. For the
full year, the company now expects EPS of about $2.50 to $2.75, vs.
estimates of $3.37 per share.
Gap Inc. (GPS) is up near 10% and hit new year highs after it
reported net sales for Q2 increased 6% yoy to $3.58 billion versus
the Thomson Reuters mean for $3.50843 billion. It says July net
sales increased 12% yoy. The company expects diluted earnings per
share for Q2 to be in the range of $0.47 to $0.48, compared with
$0.35 a year ago. The Thomson Reuters mean is for $0.38.
United Online (UNTD) is up 22% but off day highs after reporting
late Wednesday EPS of $0.18, beating estimates of $0.13. Q2 revs of
$231.9 mln were in-line with estimates. UNTD provided guidance for
Q3 revenues between $172.0 - $178.0 mln; adjusted OIBDA of $23.0 -
Green Mountain Coffee Roasters (GMCR) is up 30% after it
reported Q3 EPS of $0.52, beating estimates of $0.50. GMCR reported
earnings of $869.2 mln, shy of estimates of $873.2 mln. GMCR
provided Q4 guidance for net sales in the range of $889.9 million
to $925.5 million; and EPS in a range of $0.45 to $0.50. The Street
view is $952 mln in revenue and EPS of $0.61 per share.
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