Mid-Day ETF Update: ETFs, Stocks Mostly Higher; Corporate Earnings, Economic Data In Focus

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

iShares MSCI Emerging Index Fund ( EEM ): -0.09%

SPDR S&P 500 ( SPY ): +0.07%

SPDR Select Sector Fund - Financial ( XLF ): -0.3

VanEck Vectors Gold Miners ETF ( GDX ): +0.1%

iShares Inc iShares MSCI Brazil ETF ( EWZ ): -1.8%

Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV were higher. Actively traded PowerShares QQQ (QQQ) was up 0.2%.

US stocks were mostlt higher at session's half, amid another round of corporate earnings and host of economic data.

Yelp (YELP), IAC (IAC), Gannett (GCI) and Vista Outdoor (VSTO) were among gainers following upbeat earnings results, while Booking Holdings (BKNG), e.l.f. (ELF) and TechTarget (TTGT) slipped lower after reporting lackluster earnings and/or downside guidance.

In economic data news, jobless claims fell to 213,000 in the week that ended on Aug. 4, the first decline in three weeks. The number is down from a prior revised 219,000 and beat forecasts for a 220,000 print. Wholesale trade sales in June, meanwhile, fell 0.1%, well below last month's revised gain of 2.1% and expectations for a 0.2% increase.

Producer prices were unchanged, missing forecasts for a slight gain and the prior month's increase of 0.3%. Prices have increased 3.3% in the year through July.

Power Play: Health Care

Health Care SPDR (XLV) was up 0.1% while other health care funds Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were firmer. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.5%.

Perrigo (PRGO) plummeted more than 10% after reporting reduced earnings guidance for 2018, while unveiling the spin off of its prescription pharmaceuticals business into a standalone company. For 2018, the company now expects adjusted diluted EPS of $4.75 to $4.95, below the analyst consensus of $5.21. Previous guidance was for $5.05 to $5.40. For Q2, the company reported adjusted EPS of $1.22, unchanged from last year. Analysts were looking for adjusted diluted EPS of $1.20. Net sales fell year-over-year to $1.19 billion from $1.24 billion, falling short of Street view of $1.23 billion. Separately, the company said the board approved a plan to separate its prescription pharmaceuticals business to focus on expanding its consumer business. The business includes topical generic medicines in multiple dosage forms.

Winners and Losers


The Select Financial Sector SPDRs ( XLF ) was down 0.4%. Direxion Daily Financial Bull 3X shares (FAS) was down 0.1% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 0.05%.

Brookfield Asset Management (BAM) rose more than 5% after the company reported Thursday Q2 funds from operations (FFO) of $0.77 per diluted share, down from $1.01 per share a year ago but above the $0.63 average estimate from analysts polled by Capital IQ. Total revenue surged to $13.28 billion from $9.44 billion a year ago, according to a statement. Additionally, the company said that its board set out a quarterly dividend of $0.15 per share, payable Sept. 28 to shareholders of record as at Aug. 31.


Technology Select Sector SPDR ETF (XLK) was up 0.3% 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 in the green.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 0.2% and Semiconductor Sector Index Fund (SOXX) was down 0.6%.

ChipMOS Technologies (IMOS) fell more than 1% after it said Q2 net EPS was NT$0.14 ($0.005), below the CapIQ mean for NT$0.23. Net earnings were $0.10 per diluted ADS, below forecasts for $0.13. Sales rose 12% to NT$4.49 billion from the year-ago period and beat estimates for NT$4.45 billion. Separately, it said July sales were NT$1.58 billion, an increase of 1.7% from June and an increase of 11.2% from the same period in 2017.


Dow Jones US Energy Fund (IYE) was down 0.9% and Energy Select Sector SPDR (XLE) was down 0.9%.

OGE Energy (OGE) rose more than 1% after it reported Q2 earnings of $0.55 per diluted share compared to $0.52 per diluted share in the year-ago period. Analysts polled by CapIQ had called for an EPS of $0.57. Total revenue was recorded at $567.0 million, down from $586.4 million last year. It was also below the analyst consensus of $592.6 million. The company also said that it expects its full-year consolidated earnings guidance to be at the upper end of the previously issued guidance between $1.90 to $2.05 per average diluted share due to higher projected utility earnings.


Crude was up 0.04%. United States Oil Fund (USO) was up 0.1%. Natural gas was down 0.4% while United States Natural Gas Fund (UNG) was down 0.2%.

Gold was down 0.04%. SPDR Gold Trust (GLD) was down 0.03%. Silver was up 0.2%, while iShares Silver Trust (SLV) was up 0.2%.


Consumer Staples Select Sector SPDR (XLP) was down 0.1% and Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones U.S. Consumer Goods (IYK) were lower.

Consumer Discretionary Select Sector SPDR (XLY) was up 0.6% while retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were higher.

Nomad Foods (NOMD) grew more than 5% after it said Q2 reported EPS were EUR0.18 and adjusted EPS increased 22% to EUR0.28 from the year-ago period. The Capital IQ mean was for EUR0.21 GAAP and EUR0.24 normalized. Sales increased 6.6% to EUR488 million from the year-ago period and topped estimates for EUR482.8 million. The company forecast FY adjusted EBITDA of EUR365 to EUR370 million and adjusted EPS of EUR1.14 to EUR1.17 per share. Full-year guidance continues to assume organic revenue growth at a low-single digit percentage range.

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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