Mid-Day ETF Update: ETFs Mixed, Stocks Extend Losses as Disappointing GDP Data Overshadows Upbeat Jobless Claims Data
Active broad market exchange-traded funds at mid-day:
SPDR S&P 500 ETF Trust ( SPY ): +0.09%, has turned positive and is nearer 52 week highs
iPath S&P 500 VIX ST Futures ETN ( VXX ): -1.3%, near 52 week lows
Financial Select Sector SPDR ( XLF ): +0.14%, nearer 52 week highs
PowerShares QQQ Trust, Series 1( QQQ ): +0.03%
iShares MSCI Emerging Markets Index ( EEM ): -0.16%.
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed as reflected in fact that some of them are near 52 week highs and others are near 52 week lows. Actively traded PowerShares QQQ ( QQQ ) is up 0.03%.
U.S. stocks continue to see weakness as downbeat news out of Europe and Japan offset better-than-expected U.S. jobs data, with weekly jobless claims slipping to 341,000, and continuing claims falling to 3.114 mln from 3.244 mln. Market sentiment has been pressured throughout the session by the report that euro-zone GDP in Q4 FY12 contracted 0.6% versus the prior quarter and down 0.9% from the same period last year. Real GDP in Japan also declined at an annualized rate of 0.4% in Q4, missing growth expectations. Major companies expected to see active trade in the after hours following their results include Eli Lilly (LLY), CBS (CBS), and ComScore (SCOR).
Winners and Losers
Select Financial Sector SPDRs ( XLF ) is up 0.17%, near year highs. Direxion Daily Financial Bull 3X shares (FAS) is up 0.5% and also near 52 week highs. Its bearish counterpart, FAZ, is down 0.3% and near 52 week lows.
Among financial stocks, Amtrust Financial Services (AFSI) is down 2.7% after posting Q4 adjusted EPS of $0.77, versus estimates for $0.69. Revenue for the quarter came in at $517.8 million, topping estimates for $398.88 million.
Tech ETFs Technology Select Sector SPDR ETF (XLK), off 0.3%; iShares Dow Jones US Technology ETF (IYW), up 0.21%; iShares S&P North American Technology ETF (IGM) up 0.25% and near 52 week highs; and iShares S&P North American Technology-Software Index (IGV) are up 0.16% and nearer 52 week highs.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.1% and Semiconductor Sector Index Fund (SOXX) is up 0.55%.
SPDR S&P International Technology Sector ETF (IPK) is up 0.55%, near its year highs.
In sector news, Angie's List (ANGI) is up 23.8% after it reported in Tuesday's after hours session Q4 revs of $46.2 mln, just ahead of the analyst consensus of $45.9 mln on Capital IQ. EPS was $0.04, vs. expectations of a loss of $0.02 per share. For Q1, the company expects revs of $51 to $52 mln, vs. the Street view of $49.4 mln.
The stock was upgraded Thursday to a Strong Buy from Outperform by analysts at Raymond James. The firm also raised the price target on the stock to $22 from $17 a share.
Dow Jones U.S. Energy Fund (IYE) is up 0.7%, touching a new year high of $45.17; and Energy Select Sector SPDR (XLE) is up 0.8%, also with a new year high of $79.44.
In sector news, Alpha Natural Resources (ANR) is up 11.8% following its Q4 results. The company reported a Q4 loss of $0.19 per share, ex one-time items, versus the Capital IQ consensus of $0.52 loss per share. Revenues were $1.56 mln, matching the analyst estimate.
Crude was up 0.41%; natural gas is down 4.452%. United States Oil Fund (USO) is up 0.14%. United States Natural Gas Fund (UNG) is down 4.4%.
Gold was down 0.58% and silver was down up 1.84%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.5%; iShares Silver Trust (SLV) is down 1.4%.
Among stocks, Barrick Gold Corporation (ABX) is up more than 3% from near year lows after it reported Q4 earnings per share of $1.11, topping consensus estimate of $1.06. Revenues were $4.2 bln, better than the analyst estimate of $3.9 bln. For the year 2013, the company anticipates gold production to be in the range of 7 mln ounces - 7.4 mln ounces. Copper production in 2013 is expected to increase to 480 mln pounds - 540 mln pounds.
Healthcare ETFs are mostly lower, but still near their year highs: Health Care SPDR (XLV), up 0.12%; Vanguard Health Care ETF (VHT), down 0.09% and iShares Dow Jones US Healthcare (IYH) up 0.1%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.2%.
In corporate news, Nanosphere (NSPH) is down 30% and near 52 week lows after it reported late Tuesday that Q4 sales were $1.6 mln, just missing analyst estimates of $1.67 mln. Net loss for the quarter narrowed to $0.14 per share year over year. Analysts were looking for $0.16 loss per share. The company sees FY13 sales of $13 mln - $15 mln, below the Street view of $20.29 mln.
Power Play -
Consumer Staples Select Sector SPDR (XLP) is up 0.3%, and has hit a 52-week high of $37.69. Other consumer ETFs are also higher: iShares Dow Jones US Consumer Goods (IYK), up 0.3%, with a new year high of $81.17, and Vanguard Consumer Staples ETF (VDC), up 0.35%, with a new year high of $94.89.
In sector news, H.J. Heinz (HNZ) is up 20% with a new 52-week high of $72.61 after the company entered a deal to be acquired by Berkshire Hathaway (BRK.A) for $72.50 per share in cash.