Active broad-market exchange-traded funds in Wednesday's
SPDR S&P 500 ETF Trust (
iShares MSCI Emerging Markets Index (
Market Vectors Gold Miners (
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series 1 (
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, were mixed, and actively traded PowerShares QQQ (
) was up 0.1%.
U.S. stock futures were inching higher ahead of Wednesday's
open. Trading is expected to remain light, with the session closing
early at 1 p.m. ET for the holiday. Gains continued from the
previous session, which closed with the Dow Jones Industrial
Average reaching a new record high.
In economic data, weekly jobless claims fell 9,000 to 280,000,
better than the expected level of 290,000 claims. This was the
lowest in the last seven weeks, indicating a slower pace of
layoffs. Meanwhile, continuing claims rose by 25,000 to 2.4
Power Play: Health Care
Health Care SPDR (XLV) was down 0.4% while other health care
funds Vanguard Health Care ETF (VHT) and iShares Dow Jones US
Healthcare (IYH) were flat. Biotechnology fund iShares NASDAQ
Biotechnology Index (IBB) was down 0.21%.
BioDelivery Sciences International (BDSI) and Endo
International's (ENDP) Endo Pharmaceuticals unit said Tuesday
afternoon that they have submitted a new-drug application to the
U.S. Food and Drug Administration for Buprenorphine HCl Buccal Film
to manage pain. The drug is under development for the management of
pain severe enough to require daily, around-the-clock, long-term
opioid treatment and for which alternative treatment options are
inadequate. BDSI shares were up 5.1% while ENDP shares were
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.1%. Direxion Daily
Financial Bull 3X shares (FAS) was up 0.5% and its bearish
counterpart, FAZ, was up 0.1%.
American Realty Capital Properties (ARCP) was down 4.2% after it
said it has obtained an additional lender waiver and extension for
reporting Q3 2014 and full year 2014 financial statements and has
concluded a status evaluation of the properties in ARCP's
portfolio. ARCP agreed under the waiver and extension that it will
not pay a dividend on its common stock until its financial
statements have been delivered. The company plans to review its
dividend policy and pay a common stock dividend in line with its
industry peers after delivery of the statements.
Technology Select Sector SPDR ETF (XLK), iShares Dow Jones US
Technology ETF (IYW), iShares S&P North American Technology ETF
(IGM) and iShares S&P North American Technology-Software Index
(IGV) were inactive. SPDR S&P International Technology Sector
ETF (IPK) was also unchanged.
Semiconductor ETFs SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were flat in
Internet services provider j2 Global (JCOM) said it will launch
a cash tender offer to acquire all outstanding shares of Carbonite
(CARB), a provider of cloud and hybrid backup and recovery
solutions for businesses, for $15.00 per share. The move follows an
unsolicited proposal from JCOM to acquire the outstanding shares of
CARB earlier in December.
Dow Jones U.S. Energy Fund (IYE) was up 0.2% while Energy Select
Sector SPDR (XLE) was down 0.8%.
Midstates Petroleum (MPO) named Mark Eck as executive vice
president and chief operating officer. MPO, an independent oil
driller working fields in Louisiana, Oklahoma and Texas, reported
that Eck most recently worked for Samson Resources, as vice
president of business development. Eck previously worked at SM
Energy and ARCO. Eck has bachelor of science in mechanical
engineering from the University of Missouri-Rolla.
Crude was down 2.4%. United States Oil Fund (USO) was down 1.9%.
Natural gas futures was down 1.2%. United States Natural Gas Fund
(UNG) was down 1.0%.
Gold was down 0.1% while silver was up 0.3%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.3% while iShares Silver Trust
(SLV) was up 0.7%.
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US
Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were
Coca-Cola (KO) plans to cut at least 1,000 to 2,000 jobs in the
coming weeks, according to a Tuesday report by The Wall Street
Journal, citing unnamed insiders. It cited one person as saying the
cuts could exceed 2,000 jobs. Notices will go out to North American
employees Jan. 8 and international employees will be given a
timeline for cuts by Jan. 15, the report said. The company is also
telling executives to tighten their belts, swapping limousines for
taxis, and has dropped a lavish Christmas party for Wall Street
analysts. KO shares were up 0.1% pre-market.