Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
PowerShares QQQ Trust, Series 1 (
Financial Select Sector SPDR (
): +0.1%, still near year high
iShares MSCI Emerging Markets Index (
iShares MSCI EAFE Index Fund (
): -0.2%, from near year highs
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed to lower. Actively traded PowerShares QQQ (
) is down 1.3%.
U.S. stocks continue to waver. Investors are digesting earnings
reports, with companies posting mostly mixed results for the most
part. That was even before Google (GOOG) earnings were
"accidentally" released earlier than its scheduled after hours
report, sending shares down about 9% before being halted. The
company posted earnings of $9.03 per share on revenue of $11.33
billion, missing expectations for $10.67 per share on sales of
$11.86 billion, according to Capital IQ.
Winners and Losers
Tech ETFs Technology are mixed in mid-day action: Select Sector
SPDR ETF (XLK), now down 1.1%; iShares Dow Jones US Technology ETF
(IYW), down 1.9%; iShares S&P North American Technology ETF
(IGM), up 0.2%; and iShares S&P North American
Technology-Software Index (IGV), down 0.56%. SPDR S&P
International Technology Sector ETF (IPK) is flat.
Semiconductors are weighing on the tech sector. Among the top
losers, Mellanox Technologies (MLNX) is now down 20.3%, after it
said in its earnings conference call late yesterday that it expects
Q4 revenues to be $145 mln - $150 mln, well below the Capital IQ
consensus of $156.7 mln. The fabless semiconductor company had
posted Q3 earnings of $1.37 per share, ex one-time items, beating
the Capital IQ consensus of $1.12. Revenues were $156.5 mln, versus
the analyst estimate of $152.8 mln. In the same period last year,
the company reported EPS of $0.34 on revenues of $68.16 mln.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD), is
down 0.8% and Semiconductor Sector Index Fund (SOXX) is down
Dow Jones U.S. Energy Fund (IYE) is up 0.1%; Energy Select
Sector SPDR (XLE) is up 0.2%.
In sector news, Diamond Offshore Drilling (DO) is up 2.3% after
it posted Q3 earnings of $1.28 per share, versus the Capital IQ
consensus of $1.02. Revenues were $729 mln, versus the analyst
estimate of $735.78 mln. In the same period last year, the company
reported EPS of $1.85 on revenues of $878 mln.
Crude was down 0.48% while natural gas was down 0.05%. United
States Oil Fund (USO) is flat. United States Natural Gas Fund (UNG)
is up 2.1%.
Gold and silver were lower, down 0.38% and 0.41% respectively.
Among rare metal funds, SPDR Gold Trust (GLD) is down 0.3%; iShares
Silver Trust (SLV) is down 0.8%.
Healthcare ETFs are lower: Health Care SPDR (XLV), down 0.05%,
but near its year high; Vanguard Health Care ETF (VHT), down 0.2%;
and iShares Dow Jones US Healthcare (IYH), down 0.3%, near its year
high. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down
Consumer ETFs are weaker: Consumer Staples Select Sector SPDR
(XLP), down 0.55%; iShares Dow Jones US Consumer Goods (IYK), down
0.08%; and Vanguard Consumer Staples ETF (VDC), down 0.4%.
Retail ETFs are higher: SPDR S&P Retail (XRT), up 0.11%;
PowerShares Dynamic Retail (PMR), up 0.4%: and Market Vectors
Retail ETF (RTH), down 0.19%, after hitting a new year high.
Power Play -
The financial sector is seeing solid gains in mid-day trading.
Select Financial Sector SPDRs (
) is up 0.3%, pushing near its 52-week high. Direxion Daily
Financial Bull 3X shares (FAS) is up 0.7%, also near its year high.
Its bearish counterpart, FAZ, is down 0.7% and has hit a new year
low of $15.91.