ETF Preview: ETFs, Futures Maintain Gains Following Upbeat Jobless Claims, Philly Fed Index Data

Active broad-market exchange-traded funds in Thursday's pre-market session:

SPDR S&P 500 ETF Trust ( SPY ): +0.2%

VIX Short-Term Futures ETN Ipath ( VXX ): -0.5%

SPDR Select Sector Fund - Financial ( XLF ): +0.04%

iShares MSCI Emerging Index Fund ( EEM ): +0.4%

Market Vectors Gold Miners ETF ( GDX ): +1.3%

Broad-Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV and others, were higher. Actively traded PowerShares QQQ (QQQ) was up 0.3%.

U.S. stock futures were holding on to modest gains ahead of Thursday's open, following the news that weekly jobless claims fell by 5,000 to 271,000 versus forecasts of a decline to 270,000. Continuing claims were 2,000 lower compared to the prior week.

Meanwhile, the Philadelphia Fed Business Outlook Index for November showed a reading of positive 1.9 from the unrevised reading of negative 4.5 in October and was above expectations for the index to remain flat.

Power Play: Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were inactive.

Consumer Discretionary SPDR (XLY) was up 0.4% while retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were flat.

Stage Stores (SSI) was down 11.5% after the company reported Q3 net loss of $10.2 million, or $0.32 per share, compared with the prior-year period's $5.3 million or $0.16 loss per share. Adjusted net loss was $9.4 million, or $0.29 loss per share. Analysts polled by Capital IQ were expecting a loss of $0.19 per share. Revenue was $351.6 million, down 3.5% from $364.2 million in the same quarter last year, and below the Street view of $359.1 million. Comparable sales decreased 3.5%. The company also said that its board of directors approved the resumption of the $200 million share repurchase program authorized in 2011. The company has $99.9 million remaining under the program. For Q4, the company is guiding for a decline in comp store sales of 2% to 4% and EPS of $0.70 to $0.80 per share, vs. Street expectations of a 1.9% comp store sales decline and earnings of $1.24 per share.

Winners and Losers


Select Financial Sector SPDRs ( XLF ) was up 0.04%. Daily Financial Bull 3X shares (FAS) was up 0.7% and its bearish counterpart, FAZ, was up 0.2%.

Equinix (EQIX) was down 1.6% after the networking company said that it plans to offer, subject to market and other conditions, $1 billion aggregate principal amount of senior notes due 2026 pursuant to an existing shelf registration statement on file with the Securities and Exchange Commission. The company intends to use the net proceeds for merger and acquisition activities, debt repayments and for general corporate purposes.


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 pre-market trading .

Yahoo! (YHOO) was up 0.4% after shareholder Starboard Value LP said in a letter to the company that the company should explore a sale of its core search and display advertising business instead of the proposed spin off of Aabaco Holdings. It also said that Yahoo's ownership stakes in Alibaba Group and Yahoo Japan should be left in the existing corporate entity.


Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was up 0.2% in the pre-market session.

JinkoSolar Holding (JKS) was down 10.5% after it reported Q3 non-GAAP earnings per ADS of $1.04, compared to the street view of $0.81, as compiled by Capital IQ. A year ago, the company reported a like figure of $1.36 per ADS. The company reported Q3 adjusted net income of $39.8 million on revenues of $637.6 million, the latter figure above the street view of $567.67 million. In RMB terms, JinkoSolar reported Q3 revenues of RMB4.1 billion, up 58.2% YOY. The company also reported non-GAAP net income of RMB253.3 million, down from RMB342.0 million in Q3 2014.

In guidance, the company said for Q4 it estimates "total solar module shipments to be in the range of 1.4 GW to 1.7 GW, which includes 1.2 GW to 1.4 GW module shipments to third parties. " For 2015, the company "updates the guidance of total solar module shipments to 4.2 GW to 4.5 GW which includes 3.8 GW to 4.0 GW module shipments to third parties. The Company expects to grid-connect solar power projects with a total capacity of 600 MW to 800 MW in 2015."


Crude was up 1.6%. United States Oil Fund (USO) was down 1.6%. Natural gas futures were down 0.8%. United States Natural Gas Fund (UNG) was flat. Gold was up 0.2% and SPDR Gold Trust (GLD) was up 0.2%.

Health Care

Health Care SPDR (XLV) was down 0.3% in pre-market trading 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 up 0.1%.

AMAG Pharmaceuticals (AMAG) was down 10.1% after the U.S. Food and Drug Administration (FDA) said its single-dose vial of Makena cannot be approved in its current form. In a complete response letter the FDA requested more information on Makena, a drug to reduce the risk of preterm birth in certain at-risk patients. The company said it is working with its manufacturer to submit a response with the requested information to the FDA as quickly as possible. The multi-dose Makena vial will remain available for prescribing and is not affected by the letter from FDA.

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 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.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.