This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Tuesday's ETF Winners & Losers

The iShares FTSE NAREIT Mortgage REITs (REM) was among Tuesday's worst performers, as holding Luminent Mortgage (LUM) stoked investors' concerns about the weakening credit market.

Luminent, in an announcement before the opening bell, said it has canceled filing its second-quarter earnings report and called off its conference call, scheduled for Thursday morning. The company also suspended its 32-cent dividend just a week after assuring investors that the payout was "secure." UBS, JMP Securities, Friedman Billings, and Keefe Bruyette all cut their ratings for the stock.

Luminent, which was recently diving more than 80% to 85 cents, is only the most recent mortgage-related name to lose nearly all of its value. Last week, American Home Mortgage, another holding of the iShares FTSE NAREIT Mortgage REITs, slid more than 93% after the company slashed 90% of its workforce and filed for bankruptcy protection. The ETF was dropping $1.15, or 3.6%, to $31.22.

Exchange-traded funds tracking Asian markets were also sliding, after several indices in Hong Kong and Japan lost ground overnight. Tokyo's Topix Index slipped 0.5%, the Nikkei 500 Index gave back 0.4%, and Hong Kong's Hang Sang gave back 0.1%.

The iShares MSCI Taiwan Index (EWT) was lower by 29 cents, or 1.8%, to $15.77. The SPDR S&P China (GXC) slipped $1.20, or 1.7%, to $68.10. The iShares FTSE/Xinhua China 25 Index (FXI) sank $1.66, or 1.3%, to $129.53. The SPDR S&P Emerging Asia Pacific (GMF) was easing by 62 cents, or 0.8%, to $74.

The Broadband HOLDRs (BDH) was also among the worst losers, following a ruling against Qualcomm (QCOM), banning imports of 3G phones that infringe on Broadcom (BRCM) patents. Both stocks were losing 2.5%.

The ETF was down 42 cents, or 2.8%, to $14.77.

On the other hand, ETFs related to regional banks were among the best performers. Among individual names, Washington Mutual (WM), Colonial Bancgroup (CNB) and SunTrust Banks (STI) were all gaining 1.5% or more.

The KBW Regional Banking (KRE) ETF was higher by $1.11, or 2.7%, to $43. The iShares Dow Jones U.S. Regional Banks (IAT) added 91 cents, or 2%, to $46.54.

Meanwhile, increases in shares of Lehman Brothers (LEH), NYSE Euronext (NYX) and Goldman Sachs (GS) bolstered the iShares Dow Jones U.S. Brokers-Dealers (IAI), which was adding 2% to $50.71.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs