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ETF Preview: Mixed Tech Earnings Dent Related Funds
By: Midnight Trader   Wednesday, October 28, 2009 9:14 AM

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Active-volume exchange-traded funds in Tuesday's regular session:

SPDR S&P 500 (SPY): -0.5%

iShares S&P 500 (IVV): -0.5%

PowerShares QQQ (QQQQ): -1.5%

Select Financial Sector SPDRS (XLF): -0.7%

iShares Russell 2000 (IWM): -1.2%

iShares Russell 1000 Growth (IWF): -0.8%

iShares MSCI Emerging Markets Index (EEM): -1.7%

United States Oil Fund (USO): +1.1%

The top ETF volume movers in pre-market action this morning:

SPY, -0.3%

FAZ, +1.1%

GLD, -0.7%

SDS, +0.7%

SRS, +1.1%

Winners and Losers


Major market ETFs, including the SPY, DIA, UYG and others, are flat to lower in step with the broader market. The PowerShares QQQ (QQQQ), which tracks the technology-studded Nasdaq Composite, is down 0.1%.

Major banking and brokerage shares are mostly lower, with C down 0.9% and BAC down 0.6%, to lead the volume ranks. Select Financial Sector SPDRS (XLF) is down 0.4%. The Direxion Financial Bull 3X fund (FAS) is down 0.7%; its bearish counterpart, FAZ, is up 0.2%.

Technology Select Sector SPDR (XLK) is down 0.9% amid mixed sector news. iShares U.S. Technology (IYW) should see increased interest closer to the opening bell. iShares S&P North American Technology Semiconductor (IGW) and Semiconductor HOLDRs (SMH) could see increased interest closer to the bell. Internet HOLDRs (HHH) is seeing limited early action. SAP (SAP) is lower in active volume after it reports Q3 revs of EUR 2.5 bln, down from EUR 2.7 bln a year ago. Non-GAAP earnings were EUR 0.41, flat with year ago levels.
RF Micro Devices (RFMD) remains an active extended-hours gainer. The company late Tuesday reported Q2 revs of $254.8 mln, better than the analyst mean of $234 mln on Thomson Reuters. Non-GAAP EPS was $0.13 per share, a nickel better than the Street view. For Q3, the company expects revenue and EPS will increase sequentially.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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