Exchange-traded funds tracking financial names were among the few losers in a banner week on Wall Street.
Disappointing earnings and more writedowns held the financial ETFs back.
For the week, the
First Trust Financial AlphaDex
ETF was lower by 2.7% to $15.69. The
iShares S&P Global Financials
ETF eased 0.4% to $82.02. The
Financial Select Sector SPDR
ETF lost 0.1% to $29.33.
reported a fourth-quarter loss of $3.61 a share and said it had to write down the value of its mortgage-related assets by $9.4 billion. The following day,
posted a quarterly loss, the first in the company's history, due to a $1.9 billion writedown from mortgage-related losses.
handily beat Wall Street's fourth-quarter earnings and revenue estimates on Tuesday, but still finished lower for the week.
Additionally, Standard & Poor's cut its credit outlook Wednesday for
to negative from stable.
On the winning side, a blockbuster report from
Research In Motion
ETF. The BlackBerry maker posted third-quarter earnings and revenue Friday that more than doubled from a year ago. The Wireless HOLDRs ETF finished up 2.8% at $73.70.
Fellow tech giant
reported a fiscal second-quarter profit that jumped 35% from a year ago, surpassing Wall Street's estimates. The
(SWH - Get Report)
finsihed the week higher by 2% at $44.37.