Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 ( SPY ): -0.2%
Financial Select Sector SPDR ( XLF ): -0.63%
iShares MSCI Emerging Markets Index ( EEM ): +0.17%
PowerShares QQQ Trust, Series 1 ( QQQ ): +0.05%
iShares Russell 2000 Index ( IWM ): +0.4%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed. Actively traded PowerShares QQQ ( QQQ ) has recouped earlier losses and turned slightly positive.
U.S. stocks continue to be mixed with investors still cautious as the U.S. presidential election draws closer. Despite differing opinions on which candidate would do the most good for the markets and the economy in general, pundits agree that the Street is hoping for an orderly elections and a decisive outcome. Weighing slightly on market sentiment is the Institute for Supply Management's report that activity in the services sector for October fell to 54.2, missing forecasts.
Winners and Losers
Tech ETFs are largely mixed: iShares Dow Jones US Technology ETF (IYW), up 0.17%; iShares S&P North American Technology ETF (IGM), has lost gains and is now flat; and iShares S&P North American Technology-Software Index (IGV), down 0.65%. Technology Select Sector SPDR ETF (XLK) is slightly higher.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.1%; and Semiconductor Sector Index Fund (SOXX), up 0.8%. SPDR S&P International Technology Sector ETF (IPK) is flat.
In sector news, AudioCodes Ltd. (AUDC) is up 6.7% after reporting a third quarter 2012 net loss of $419,000, or $0.01 per diluted share, compared to consensus estimate of $0.03 per share loss. Revenues were $31.4 million, which is above the $30.08 million analysts' estimate. In the same period last year, the company had a net income of $274,000, or $0.01 per diluted share, on revenues of $36 million.
Industrial ETFs are higher: Vanguard Industrials (VIS), up 0.24%; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), up 0.1%; and Select Sector SPDR-Industrial (XLI), up 0.2%.
Among stocks, Manitowoc (MTW) is now down 0.8%, paring earlier losses of about 5%, after it reported Q3 GAAP earnings of $0.17 per share, ex one-time items, versus the Capital IQ GAAP consensus of $0.28. Revenues were $955.7 mln, versus the analyst estimate of $1.05 bln.
Crude was up 0.44%; natural gas was up 0.38%. United States Oil Fund (USO) has been fluctuating a little and is now slightly lower. United States Natural Gas Fund (UNG) is up 0.3%.
Gold was up 0.42%; likewise, silver was up 0.5%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.36%; iShares Silver Trust (SLV) is up 0.6%.
Among stocks, Silver Wheaton (SLW) is down 1.2%, pulling back from earlier losses of more than 3%. It reported Q3 earnings of $0.34 per share, ex one-time items, versus the Capital IQ consensus of $0.40. Revenues were $161.27 mln, versus the analyst estimate of $193.04 mln. SLW posted attributable silver equivalent production of 7.7 million ounces compared to 6.1 million ounces in the comparable quarter last year, representing an increase of 26%.
Healthcare ETFs are mixed: Health Care SPDR (XLV), down 0.2%; Vanguard Health Care ETF (VHT), up 0.03%; and iShares Dow Jones US Healthcare (IYH), down 0.01%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 1.4%.
In corporate news, Health Net (HNT) is up 13.5% after it earlier reported Q3 GAAP earnings of $0.22 per share, versus the Capital IQ GAAP consensus of $0.30. Revenues were $2.78 bln, versus the analyst estimate of $2.8 bln. The company reaffirms its FY12 GAAP EPS guidance of $1.45 - $1.55, above the consensus of $1.15 in EPS.
Consumer ETFs continue to be weaker: Consumer Staples Select Sector SPDR (XLP), down 0.4%; iShares Dow Jones US Consumer Goods (IYK), down 0.23%; and Vanguard Consumer Staples ETF (VDC), down 0.4%.
Retail ETFs have turned higher: SPDR S&P Retail (XRT), is up 0.35%; PowerShares Dynamic Retail (PMR), up 0.24%; and Market Vectors Retail ETF (RTH), up 0.2% and touched a new year high of $44.62.
In sector news, Tesla Motors (TSLA) is up 7% after reporting Q3 loss, less items, of $0.92 per share, compared with analysts' expectations of a loss of $0.90, according to Thomson Reuters I/B/E/S. Sales were $50 million, beating forecasts for $48.3 million. It maintained its 2012 revenue outlook of between $400 million and $440 million.
Power Play -
Select Financial Sector SPDRs ( XLF ) is down 0.4%. Direxion Daily Financial Bull 3X shares (FAS) is down 1.6%. Its bearish counterpart, FAZ, is up 1.3%.
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