Active broad-market exchange-traded funds in Friday's regular session:
SPDR S&P 500 ( SPY ): -0.1%
iShares MSCI Emerging Index Fund ( EEM ): -1.1%
iPath S&P 500 VIX ST Futures ETN ( VXX ): -1.4%
Vanguard FTSE Emerging Markets ETF ( VWO ): -1.1%
ProShares Trust Ultra VIX Short Term Futures ETF ( UVXY ): -2.2%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM and IVV were lower. Actively traded PowerShares QQQ (QQQ) was up 0.3%.
U.S. stocks continued to be defensive at session's half as mostly upbeat economic data were offset by lower oil prices and disappointing earnings from JC Penney (JCP) and Nordstrom (JWN).
Retail sales rose 1.3% in April, beating Wall Street estimates for a gain of 0.9%. Excluding auto sales, retail sales were up 0.8%, and up 0.6% excluding fuel sales, both of which beat expectations. Producer prices were also higher in April as the PPI increased 0.2%, though slightly below estimates for a 0.3% gain. Excluding food and fuel sales, the PPI was up 0.1%. Business inventories were up 0.4% in March, twice what Wall Street expected, while sales increased 0.3%.
Finally, consumer sentiment showed a dramatic increase in May. The preliminary Univ of Michigan index for May jumped to an 11- month high of 95.8 from 89.0 in April, beating estimates for an increase to 89.7.
Power Play: Energy
Dow Jones U.S. Energy Fund (IYE) was down 0.9%; Energy Select Sector SPDR (XLE) was down 0.8%.
EXCO Resources NL (XCO) was down 44.6% after the oil and natural gas company said its board formed a special committee to assess the company's operating and financial situation and to evaluate, develop and recommend one or more strategic alternatives. The special committee will assist EXCO as it continues to execute its strategic plan that is focused on improving its capital structure and providing structural liquidity, and seeking to optimize EXCO's asset portfolio.
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 0.5%. Direxion Daily Financial Bull 3X shares (FAS) was down 1.6% while its bearish counterpart, FAZ, was up 10.7%.
Tech funds were higher, better than the broader market. 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 weaker. SPDR S&P International Technology Sector ETF (IPK) was down 2.2%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 1.3% and Semiconductor Sector Index Fund (SOXX) was up 0.6%.
NVIDIA (NVDA) was up 13.6% after the company reported Q1 adjusted EPS of $0.46 per share, up from $0.33 a year earlier and beating the $0.41 per share consensus compiled by Capital IQ. Revenues rose to $1.31 billion from $1.15 billion, beating expectations for $1.26 billion. For Q2, the graphics chipmaker expects revenues of $1.32 billion to $1.38 billion, above the $1.28 billion consensus. Non-GAAP gross margin is seen at 58% plus or minus 50 basis points, and capital expenditures are forecast at $30 million to $40 million.
Crude was down 1.2%; United States Oil Fund (USO) was down 1%. Natural gas was down 2% and United States Natural Gas Fund (UNG) was down 1.6%.
Gold was up 0.1%, while silver was up 0.01%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.3% and iShares Silver Trust (SLV) was up 0.2%.
Health care funds were in the green, outperforming the broader market. 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 up 1%.
ConforMIS (CFMS) was down 47.7% after the company reported Q1 sales of $20.3 million were up 38% year-over-year on a reported basis and up 40% year-over-year on a constant currency basis and topped the Capital IQ mean for $19.22 million. Net loss narrowed to $0.37 from the year ago's $3.32 loss but was a penny wider than expected. It cut its 2016 sales outlook to $76 million to $81 million, from previous guidance in a range of $84 million to $87 million and below forecasts for $85.85 million. It sees Q2 sales between $17.7 million to $18.7 million, below the Street's $20.23 million. It has retained an executive search firm to search for a new President and Chief Executive Officer to succeed Dr. Philipp Lang. The company expects Dr. Lang will remain the CEO until the successor has been appointed and Dr. Lang will continue to serve on the Board of Directors.
Consumer staples funds were lower, in line with the broader market. Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were in positive territory.
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 lower.
Nordstrom (JWN) was down 12.2% after reporting Q1 earnings of $0.26 per share, below the analyst consensus of $0.46 per share on Capital IQ. Total company sales were $3.19 billion, below expectations of $3.23 billion. For FY 2016, the company expects sales to increase 2.5% to 4.5%, vs. its prior outlook of a 3.5% to 5.5% increaese. EPS is seen in the range of $2.50 to $2.70 per share, down from its previous view of $3.10 to $3.35 per share and below Street estimates of $3.20 per share.
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