Mid-Day ETF Update: ETFs, Stocks Continue to Get Lift from Upbeat Alcoa Earnings

Highs and Lows Stock Data

Active broad-market exchange-traded funds at midday:

SPDR S&P 500 ETF Trust ( SPY ): +0.3%

Financial Select Sector SPDR ( XLF ): -0.03%, earlier reached a new year high

iShares MSCI Emerging Markets Index ( EEM ): +0.47%

iPath S&P 500 VIX Short Term Futures TM ETN ( VXX ): +0.04%, earlier reached a new year low

iShares MSCI Japan Index ( EWJ ): +1.1%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, continue to be firmer. Actively traded PowerShares QQQ (QQQ) is up 0.5%.

U.S. stocks are higher, as concerns about a lackluster earnings season were assuaged by upbeat earnings from Alcoa (AA) in Tuesday's after hours session. Investors are hoping that the aluminum giant's raised guidance, which indicates higher demand, would also signal better global economic activity.

Winners and Losers

Technology -

Tech ETFs Technology are in the green: Select Sector SPDR ETF (XLK), up 0.2%; iShares Dow Jones US Technology ETF (IYW), up 0.3%; iShares S&P North American Technology ETF (IGM), up 0.45%; and iShares S&P North American Technology-Software Index (IGV), up 0.75%.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 0.5% and Semiconductor Sector Index Fund (SOXX) is up 0.6%.

SPDR S&P International Technology Sector ETF (IPK) is up 0.67%.

In sector news, Clearwire (CLWR) is up near 8% and closer to 52 week highs after it said late Tuesday that it received an offer to be acquired for $3.30 per share from DISH Network (DISH). The non-binding proposal also includes the purchase of certain spectrum assets from CLWR, and a commercial agreement between the two companies. The bid from DISH trumped Sprint Nextel's (S) $2.2 billion offer, setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum, Reuters reports. DISH is up more than 3%, nearing its year highs, while S shares are down near 2%.

Energy -

Dow Jones U.S. Energy Fund (IYE) is down 0.3% and Energy Select Sector SPDR (XLE) is down 0.4%.

In sector news, SemGroup Corporation (SEMG) shares are up 3% and reached a new 52-week high of $43 following the company's announcement that it expects to pay a quarterly cash dividend to common shareholders beginning in Q2 2013.

Commodities -

Crude was down 0.28%; natural gas was down 3.28%. United States Oil Fund (USO) is down 0.4%. United States Natural Gas Fund (UNG) is down near 4%.

Gold was down 0.54% and silver was down 1.13%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.2%; iShares Silver Trust (SLV) is down 0.2%.

Healthcare -

Healthcare ETFs are higher: Health Care SPDR (XLV), up 0.90%, with a new year high of $41.46; Vanguard Health Care ETF (VHT), up 1%; and iShares Dow Jones US Healthcare (IYH), up 1% and just shy of year highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 1.1%.

In corporate news, NuVasive (NUVA) is up near 12% after the company said that it expects full year 2012 revenue of about $619 mln, vs. previously issued guidance of $601 to $606 mln. The analyst consensus is $604 mln, according to Capital IQ. For 2013, the company expects revenue of about $655 mln. Analysts expect $637 mln.

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP), up 0.25%; iShares Dow Jones US Consumer Goods (IYK), up 0.5%, was near its new year high; and Vanguard Consumer Staples ETF (VDC), up 0.15%.

Retail ETFs are also firmer: SPDR S&P Retail (XRT), up 0.3%; PowerShares Dynamic Retail (PMR), up 0.4%; and Market Vectors Retail ETF (RTH), up 0.14% and posted new 52 week highs.

In sector news, Constellation Brands (STZ) is now down 1.2%, reversing earlier gains that took it close to 52 week highs. The company reported Q3 earnings of $0.63 per share, ex one-time items, versus the Capital IQ consensus of $0.55. Revenues were $767 mln, versus the analyst estimate of $747.99 mln. The company expects FY13 of $2.10 - $2.20, versus the analyst estimate of $2.07. Its previous EPS guidance was $2 - $2.10.

Power Play -

Financial -

Select Financial Sector SPDRs ( XLF ) is down 0.1%, having earlier touched a new year high. Direxion Daily Financial Bull 3X shares (FAS) is up 0.3%, with a new year high of $135.16. Its bearish counterpart, FAZ, is down 0.3%, with a new year low of $13.29.

In sector news, Global Payments Inc. (GPN) is up 5.7% after it reported Q2 revenue of $588.5 million, up 11% vs $530.5 million in the second quarter of 2012. EPS weighed in at $0.89 for the period, vs. $0.78 last year. Both numbers trumped the Capital IQ analyst consensus of $571.74 mln in revenue and EPS of $0.87.

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.

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