Biotech-related exchange-traded funds were among the day's top performers, helped by an 18% jump in shares of MedImmune (MEDI Quote).
Earlier, the company said it will be acquired by AstraZeneca (AZN Quote) in an arrangement worth more than $15 billion. The SPDR S&P Biotech (XBI Quote) ETF was gaining $1.02, or 2%, to $52.96. The HealthShares Emerging Cancer (HHJ Quote) was higher by 47 cents, or 1.8%, to $26.94. The First Trust Amex Biotechnology Index (FBT Quote) tacked on 38 cents, or 1.5%, to $26.01. The iShares Nasdaq Biotechnology (IBB Quote) ETF was recently up $1.01, or 1.2%, to $82.47. Bundled securities tracking the energy sector were also among the winners of the day thanks to a gain in oil prices. The front-month June crude contract was recently adding $1.15 to $65.26 a barrel. The iPath Goldman Sachs Crude Oil Index (OIL Quote) was rising 75 cents, or 2.1%, to $37.30. The United States Oil (USO Quote) ETF gained 92 cents, or 1.8%, to $50.97. The PowerShares DB Energy (DBE Quote) ETF was climbing 44 cents, or 1.6%, to $27.87. On the other hand, housing-related ETFs were the worst performers of the session. Among individual housing names, D.R. Horton (DHI Quote) slid 3.7%, Lennar (LEN Quote) was sinking 2.9%, Toll Brothers (TOL Quote) slumped 2.2%, and Hovnanian (HOV Quote) was down 1.8%. The iShares Dow Jones U.S. Home Construction(ITB Quote) ETF was recently down 69 cents, or 1.9%, at $36.37. The SPDR Homebuilders (XHB Quote) ETF was losing 60 cents, or 1.7%, to $34.49.- Loading Comments...
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