Active broad-market exchange-traded funds ahead of Friday's regular session:
iShares MSCI Emerging Index Fund ( EEM ): +0.4%
SPDR S&P 500 ( SPY ): +0.1%
Invesco QQQ Trust, Series 1 ( QQQ ): +0.2%
SPDR Select Sector Fund - Financial ( XLF ): +0.1%
iPath S&P 500 VIX ST Futures ETN ( VXX ): -0.4%
Broad Market Indicators
Broad-market exchange-traded funds, including IWM and IVV were inching higher. Actively traded PowerShares QQQ ( QQQ ) was up 0.2%.
US stock futures were mixed ahead of the session's open, with investors continuing to fret over trade war issues. China had proposed $60 billion in new tariffs on US goods subject to US sanctions, reserving the right to introduce additional countermeasures against the US.
In economic data news, the Commerce Department reported that the trade deficit widened to $46.3 billion from a revised $43.2 billion in May, and compared with forecasts for $46.6 billion. U.S. exports fell 0.6% to $213.8 billion while imports rose 0.6% to $260.2 billion.
And, the nonfarm-payroll report showed that 157,000 jobs were created in July, compared with forecasts for 190,000. The unemployment rate fell to 3.9% from 4% -- in line with estimates.
Still ahead, the final July reading of Markit's services PMI will be released at 9:45 am ET; the ISM non-manufacturing index for the same month will be reported at 10 am ET.
Power Play: Technology
Technology Select Sector SPDR ETF (XLK) and other tech funds 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.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were both flat.
Take-Two Interactive Software (TTWO) rose 13% after it said late Thursday Q1 sales fell to $388.0 million from $418.2 million in the year-ago period and topped the CapIQ mean for $259.67 million. Net EPS rose to $0.62 from $0.56 last year but missed estimates for $0.64. Q2 sales are seen between $480 million to $530 million, below expectations for $581.52 million. GAAP EPS are seen between $0.43 to $0.53, better than forecasts for a loss of $0.27. FY sales are seen between $2.50 billion to $2.60 billion, below Street views for $2.74 billion. GAAP EPS are seen between $1.45 to $1.70, missing expectations for $2.04.
Winners and Losers
The Select Financial Sector SPDRs ( XLF ) was up 0.1%. Direxion Daily Financial Bull 3X shares (FAS) was inactive and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 0.3% in the pre-market session.
Cboe Global Markets (CBOE) rose more than 1% after it reported adjusted Q2 EPS of $1.05, two pennies above the Street view as compiled by Capital IQ, and also up from $0.87 reported a year earlier. Cboe reported Q2 revenue of $283.5 million, above the Street view of $278.6 million, and up from $266.9 million reported a year earlier. In guidance, Cboe said depreciation and amortization is now expected between $43 million to $48 million, down from the previous guidance of $53 million to $58 million. Cboe said capital expenditures are expected from $35 million to $40 million, a decrease from previous of $45 million to $50 million. Cboe reaffirmed that adjusted operating expenses are expected between $420 million to $428 million.
Dow Jones US Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was up 0.03% in pre-market trade.
EOG Resources, Inc. (EOG) fell more than 1% after it reported adjusted Q2 net income of $1.37 per share, up sharply from its $0.08 per share adjusted profit during the year-ago period, and beating the Capital IQ consensus by $0.13 per share. Net operating revenues rose to nearly $4.24 billion from around $2.61 billion last year and also topping the $3.95 billion Street view. The oil and natural gas producer late Thursday declared a quarterly cash dividend of $0.22 per share, marking an increase of 19% over its most recent distribution to investors and payable Oct. 31 to shareholders of record on Oct. 17.
Crude was down 0.4%. United States Oil Fund (USO) was down 0.4%. Natural gas was up 0.9% while United States Natural Gas Fund (UNG) was up 0.8%.
Gold was up 0.3%. SPDR Gold Trust (GLD) was up 0.51%. Silver was up 0.6%, while iShares Silver Trust (SLV) was up 0.7%.
Consumer Staples Select Sector SPDR (XLP) was up 0.8% and other funds Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were flat.
Consumer Discretionary Select Sector SPDR (XLY) and retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were inactive in pre-market trade.
El Pollo Loco Holdings (LOCO) fell nearly 7% after it said late Q2 EPS fell to $0.13 from $0.22 in the year-ago period and proforma EPS added a penny to $0.22. The CapIQ mean was for GAAP EPS of $0.21 and normalized EPS of $0.22. Sales increased 5.7% to $111.6 million from last year, just shy of expectations for $111.7 million. System-wide comparable restaurant sales decreased 0.9%, including a 1.6% decrease for company-operated restaurants, and a 0.3% decrease for franchised restaurants. For FY18, system-wide comparable restaurant sales growth is seen approximately flat for the year. Non-GAAP EPS are seen between $0.68 to $0.73, in line with estimates for $0.70.
Health Care SPDR (XLV) was up 0.3% and other health care funds Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were inactive. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was down quiet in pre-market trading .
Varex (VREX) plunged more than 27% after the company said late Thursday Q3 sales increased 12% to $191 million from the year-ago period but missed the CapIQ mean for $196.88 million. Net EPS were $0.10 and adjusted net earnings were $0.34, below GAAP estimates for $0.47 and normalized EPS of $0.51. It expects approximately $8 million to $10 million in restructuring charges in Q4; and $4 million to $6 million is expected in fiscal year 2019. These amounts are in addition to the $2 million previously incurred in tQ218 related to closure of the London R&D unit. FY18 sales are seen between $755 million to $765 million, below forecasts for $794.36 million. Adjusted EPS are now seen between $1.30 to $1.35, missing estimates for $1.84.
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