Monday's ETF Winners & Losers
The iShares Goldman Sachs Networking (IGN) exchange-traded fund was the biggest loser Monday, shedding nearly 3% of its value. Of the fund's top 10 holdings, nine were on the downside. Corning (GLW) was down $1.37, or 6%, to $20.78; Marvell Technology (MRVL) was trading down $2.38, or 5.7%, to $39.35; and Cisco Systems (CSCO) was trading off 47 cents, or 2.4%, to $18.92. The Goldman Sachs Networking ETF was recently trading down 84 cents to $27.93.
The iShares Dow Jones U.S. Industrial (IYJ) ETF moved slightly higher ahead of the unofficial start of earnings season. After the bell, Alcoa (AA) posts its second-quarter results. Analysts polled by Thomson First Call project earnings of 86 cents a share on revenue of $8.01 billion. On Friday, General Electric (GE) is scheduled to release its second-quarter earnings. Shares of the ETF were recently trading up 5 cents to $61.28.
Weakness in semiconductor stocks sent shares of the Merrill Lynch Semiconductor HOLDRs (SMH) ETF about 2% lower. Big losers in the ETF included SanDisk (SNDK), which was down $3.09, or 6.5%, to $44.36; and Advanced Micro Devices (AMD), which was lower by 91 cents, or 3.9%, to $22.65. The chip ETF was trading down 68 cents to $31.12.
After taking a hit last week because of worries about North Korea's missile launch, several Pacific Rim ETFs were on the upswing Monday. The iShares MSCI Japan Index (EWJ) was trading up 19 cents, or 1.4%, to $13.67. The iShares MSCI Taiwan Index (EWT), meanwhile, was up 19 cents, or 1.5%, to $12.61.
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