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ETF Preview: Broad Market ETFs Gain in Line With Futures, Gas Fund Outperforms

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Pre-Market Movers Monday.

UNG +3.3%

DUST +2.8%

IYZ +2.3%

NUGT -2.9%

TVIX -2.6%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, were higher pre-market. Actively traded PowerShares QQQ ( QQQ ) was up 0.3%. Natural gas fund United States Natural Gas ( UNG ) was one of the strongest performers on the back of a jump in natural gas prices Monday.

U.S. stock futures are pointing to a higher open, in line with gains in global markets. U.S. stocks are looking to extend gains from Friday after manufacturing and jobs data pointed to a strengthening U.S. economy. Data out Monday is Data is expected to show factory orders fell 1.7 percent in February, after rising 1.6 percent the previous month.

Power Play: Healthcare

Health Care SPDR ( XLV ) gained 0.5%, Vanguard Health Care ETF ( VHT ), and iShares Dow Jones US Healthcare ( IYH ) were inactive after a higher close. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up 0.4%.

Repligen (RGEN), a life sciences company, said Monday that it has acquired Weingarten, Germany-based Atoll GmBH for total upfront consideration of $22.5 million.

The consideration consists of $9.1 million in cash and 538,700 Repligen common shares. The agreement also includes a potential future payment of EUR 1 million based on the achievement of certain revenue targets.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was leaning higher. Direxion Daily Financial Bull 3X shares (FAS) is up 0.4% while its bearish counterpart, FAZ fell 0.5%.

BofI Holding (BOFI) said it has agreed to acquire certain assets and has assumed certain operations of Pacific Western Equipment Finance, which is headquartered in Salt Lake City, from Pacific Western Bank.

BofI said it acquired approximately $140 million of equipment leases diversified across 36 states and Canada and over 50 industries and will retain approximately 25 existing employees, including the entire senior management team.

The deal is expected to be accretive to earnings per share within the first year post-closing, including the lease purchase price premium of approximately 2.5% and certain one-time expenses.

Technology

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 all unchanged after a higher close. SPDR S&P International Technology Sector ETF (IPK) was also flat, but closed lower Friday.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were also unchanged.

BlackBerry (BBRY) Monday announced the launch of a new BBM release on iOS, Android, and BlackBerry smartphones.

The new features of BBM include the ability to mute notifications for a multi-person chat on Android, video sharing improvements, and retracting all sent messages on BlackBerry 10, among others.

Energy

Dow Jones U.S. Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was up 0.26%.

TerraForm Global (GLBL), an owner and operator of clean energy plants, is down more than 12% in pre-market trading as the company filed an 8-K with the United States Securities and Exchange Commission disclosing several recent events.

TerraForm Global said it is received a notification letter from NASDAQ stating it is out of compliance with listing standards because it has not yet filed its Form 10-K for the 2015. The company said it has until May 31 to submit a plan to regain compliance.

The company also said it has amended a credit facility with lenders led by Goldman Sachs (GS) giving the company until April 30 to deliver the 10-K.

Commodities

Crude was up 0.4% while natural gas gained 3.2%. United States Oil Fund (USO) rose 0.5%. United States Natural Gas Fund ( UNG ) jumped 3.7%.

Gold fell 0.3% and silver was down 0.3%. Among rare metal funds, SPDR Gold Trust (GLD) fell 0.4%; iShares Silver Trust (SLV) was flat after closing lower Friday.

Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were all inactive after a higher close Friday.

Consumer Discretionary Select Sector SPDR (XLY) was leaning lower, SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were flat after a mixed close.

MGM Resorts International (MGM) said Monday that it plans to offer, through certain of its indirect subsidiaries, $1.05 billion aggregate principal amount of senior notes due 2024 in a private placement to eligible purchasers.

The company intends to use the net proceeds, together with other anticipated financings, in connection with the formation of a new real estate investment trust subsidiary, MGM Growth Properties.

Active broad-market exchange-traded funds in Friday's regular session:

SPDR S&P 500 (SPY): +0.1%

iShares MSCI Emerging Markets Index (EEM): -0.9%.

iPath S&P 500 VIX ST Futures ETN (VXX): -0.6%

Direxion Daily Gold Miners Index Bear 3X Shares (DUST): -5.9%

Market Vectors Gold Miners ETF (GDX): -1.9%

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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