Mid-Day ETF Update: ETFs, Stocks Turn Lower on Decline in Consumer Sentiment
Active broad market exchange-traded funds at mid-day:
SPDR S&P 500 ETF Trust ( SPY ): -0.26%
iShares MSCI Emerging Markets Index ( EEM ): -0.08%
Financial Select Sector SPDR ( XLF ): -0.41%, near its 52-week high
iShares MSCI Japan Index ( EWJ ): +0.15%
PowerShares QQQ Trust, Series 1 ( QQQ ): -0.62%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and others, have turned weaker. Actively traded PowerShares QQQ ( QQQ ) is down 0.62%.
U.S. stocks are slipping into negative territory at session's half, reversing modest gains earlier in the morning trade. The University of Michigan-Thomson Reuters reported that its consumer sentiment gauge declined to 71.3 in January, below the forecast of 74.2, according to MarketWatch. While earnings from General Electric (GE) and Morgan Stanley (MS) were generally upbeat, they did little to life market sentiment.
Winners and Losers
Select Financial Sector SPDRs ( XLF ) is down 0.41%, near its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) is down 1.02%. Its bearish counterpart, FAZ, is up 1.15%.
Among financial actives, State Street (STT) is up 5.76%, reaching a new 52-week high of $54.17. The company reported Q4 non-GAAP earnings of $1.11 per share, versus the Capital IQ consensus of $1.01. Non-GAAP revenues were $2.46 b
Tech ETFs are in the red: Technology Select Sector SPDR ETF (XLK), down 0.58%; iShares Dow Jones US Technology ETF (IYW), down 0.75%; iShares S&P North American Technology ETF (IGM), down 0.69%; and iShares S&P North American Technology-Software Index (IGV), down 0.79%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is down 0.86%, and Semiconductor Sector Index Fund (SOXX) is down 0.66%.
SPDR S&P International Technology Sector ETF (IPK) is down 0.18%, but near its 52-week high.
In sector news, Wipro Limited (WIT) is down 6.86%. The IT services company reported Q4 EPS of $0.13 on revenue of $1.996 billion. The Street was looking for EPS of $0.13 on revenue of $2.01 billion. Shares are up 1% at $10.01 in pre-market.
Dow Jones U.S. Energy Fund (IYE) is down 0.05% while Energy Select Sector SPDR (XLE) is up 0.03%.
In sector news, Schlumberger (SLB) is now 3.18% after it reported Q4 earnings of $1.08 per share, ex one-time items, in line with the Capital IQ consensus of $1.08. Revenues were $11.17 bln, versus the analyst estimate of $10.8 bln.
Crude was down 0.36%; natural gas was up 0.69%. United States Oil Fund (USO) is down 0.14%. United States Natural Gas Fund (UNG) is up 0.87%.
Gold was down 0.14% and silver was up 0.19%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.07%; iShares Silver Trust (SLV) is up 0.42%.
Healthcare ETFs are weaker, but near their 52-week highs: Health Care SPDR (XLV), down 0.14%; Vanguard Health Care ETF (VHT), down 0.20%; and iShares Dow Jones US Healthcare (IYH), down 0.37%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.32%.
In corporate news, Life Technologies (LIFE) is up 10.51%, with a new 52-week high of $62, after its board of directors retained Deutsche Bank Securities Inc. and Moelis & Company LLC to assist in its annual strategic review. The board of directors has not decided on any specific course of action.
Consumer ETFs are lower, but trading at the higher end of their 52-week ranges: Consumer Staples Select Sector SPDR (XLP), down 0.14%; iShares Dow Jones US Consumer Goods (IYK), down 0.42%; and Vanguard Consumer Staples ETF (VDC) down 0.22%.
In sector news, Johnson Controls (JCI) is down 3.79% after the company reported Q1 earnings of $0.52 per share, versus the Capital IQ consensus of $0.51. Revenues were $10.4 bln, versus the analyst estimate of $10.25 bln. The company expects Q2 EPS of $0.40 - $0.42, below the analyst estimate of $0.51 EPS. It reaffirmed its previously released FY13 guidance of $2.60 - $2.70 EPS on revenues of about $43.5 bln. The Street view is EPS of $2.63 on revenues of $42.85 bln
Power Play -
Industrial ETFs are inching higher, touching new 52-week highs: Vanguard Industrials (VIS), up 0.13%, with a new 52-week high of $74.86; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), up 0.13%, with a new 52-week high of $76.91; and Select Sector SPDR-Industrial (XLI), up 0.05%; with a new 52-week high of $39.84.
Among stocks, General Electric Company (GE) is steady higher, now up 3% after it reported Q4 operating EPS of $0.44, vs. the analyst consensus of $0.43 per share on Capital IQ. Revenues were $39.3 billion, which is above the $38.7 billion consensus estimate. In the same period last year, net income was $3.7 billion, or $0.37 per diluted share, on revenues of $38 billion.