Active broad-market exchange-traded funds in Friday's regular session:
SPDR S&P 500 ( SPY ): -0.33%
iPath S&P 500 VIX ST Futures ETN ( VXX ): +3.43%
iShares MSCI Emerging Markets Index ( EEM ): -0.38%
iShares Russell 2000 Index ( IWM ): -0.89%
PowerShares QQQ Trust, Series ( QQQ ): -0.02%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV were weaker. Likewise, actively traded PowerShares QQQ ( QQQ ) was down 0.02%.
U.S. stocks reversed earlier gains as tensions between Russia and Ukraine were reignited following an announcement from a Ukrainian military spokesperson, who said Ukrainian forces had destroyed part of a Russian military unit that was in Ukrainian territory. The news comes at the heels of NATO Secretary General, Anders Fogh Rasmussen's statement late Thursday that NATO observed that Russia had indeed committed an incursion into Ukrainian territory.
Back home, the University of Michigan and Thomson Reuters reported that the preliminary August reading on their consumer-sentiment index fell to 79.2, missing analysts' forecasts. This reading was also the lowest level since November.
Earlier gains were spurred by the report that U.S. producer prices in July increased 0.1%, signaling low inflation pressure. This also matched forecasts for a slower price growth following the increase of 0.4% in June. Excluding food, energy and trade, the core producer prices rose 0.2% last month. Meanwhile, the Empire State manufacturing index had a reading of 14.7 in August, after hitting a four-year high in the previous month. This was below the consensus of a 20.0 reading.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were weaker.
Monster Beverage (MNST) surged about 28% to a new 52-week high of $94.93 after it said Coca-Cola (KO) will acquire an approximately 16.7% in MNST for $2.15 billion cash and will have two directors on MNST's Board. KO will transfer ownership of its worldwide energy business to MNST, and MNST will transfer its non-energy business to KO. KO will become MNST's preferred distribution partner globally and MNST will become KO's exclusive energy play. The transaction is expected to close late in 2014 or early in 2015. XO shares were down 0.42%.
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.84%. Direxion Daily Financial Bull 3X shares (FAS) was down 2.12% while its bearish counterpart, FAZ, was up 1.99%.
Xinyuan Real Estate Co (XIN) was down 10.10% after the company said Q2 sales were $166.8 million, down 16% from a year ago. Diluted earnings were $0.08 per ADS, down from $0.54 in the year-ago period.
It expects sales revenue and profit recognition for the full year to be back-end loaded. For Q3, it sees sales between $220 to $230 million while net income is expected to reach $7 million to $9 million.
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 lower. SPDR S&P International Technology Sector ETF (IPK) was flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 0.32% and Semiconductor Sector Index Fund (SOXX) was up 0.26%.
Extreme Networks (EXTR) was down 8.97% after it reported late Thursday Q4 adjusted EPS of $0.09 per share, above the analyst consensus of $0.07 per share on Capital IQ. Revenue was $155.3 million, vs. expectations of $153.3 million. For Q1, the company expects EPS of $0.06 to $0.08 per share on revenue of $149 to $154 million, vs. Street estimates of $0.07 per share in EPS on revenue $151.4 million.
Dow Jones U.S. Energy Fund (IYE) was up 0.20%; Energy Select Sector SPDR (XLE) was up 0.25%.
Noble Energy (NBL) was edging higher, and was up 0.43% after the explorer and producer announced its Bright exploration well in deepwater Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter hydrocarbons. Drilled to a total depth of 13,500 feet on Atwater Valley 362, the well has been plugged and abandoned. Full well assessment and the integration of drilling results into the company's geologic models is ongoing to determine forward exploration plans on the recently acquired Atwater Valley acreage. BP Exploration & Production Inc. operated the well with 50% working interest and Noble Energy had the remaining 50%. The company expects Q3 2014 exploration expense to remain within guidance of $150 million to $250 million.
Crude was up 0.98%; United States Oil Fund (USO) was up 0.80%. Natural gas was up 2.33% and United States Natural Gas Fund (UNG) was down 3.03%.
Gold was down 0.57%, and silver was down 1.14%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.40% and iShares Silver Trust (SLV) was down 1.07%.
Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were in the red. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down 0.36%.
Agile Therapeutics (AGRX) was up 12% after the company reported that for Q2 ended June 30, 2014, its loss widened from the prior year period but were narrower than analysts' forecasts. The women's health specialty pharmaceuticals said its Q2 net loss was $3.7 million or $0.28 per share, compared with the prior-year period's net loss of $3.6 million or $0.25 per share. Analysts polled by Capital IQ were expecting loss per share of $0.37 per share.
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