This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

IBM, Goldman Sachs Misses Hinder ETFs

NEW YORK ( TheStreet) -- Technology and financial ETFs were under pressure on Tuesday morning after IBM (IBM - Get Report) and Goldman Sachs (GS - Get Report) missed revenue estimates, disappointing investors. Both stocks were down more than 4% in morning trading.

The iShares North American Semiconductor ETF (IGW) dropped 3.6% as shareholders sold Texas Instruments (TXN - Get Report) and Applied Materials (AMAT - Get Report), two of its top holdings.

Internet Architecture HOLDRS (IAH) shed 2.8%. The fund has about 32% of its portfolio invested in IBM.

Regional bank stocks were being punished on Tuesday as many regionals prepare to declare results this week. The iShares Dow Jones Regional Banks Index (IAT) was down 2.2%. Shares of U.S. Bancorp (USB - Get Report), its largest holding at 19% of the portfolio, are down 1.6%. Shares of BB&T (BBT - Get Report) and PNC Financial Services (PNC - Get Report) were also trending lower on Tuesday.

The iShares Dow Jones US Brokers-Dealers (IAI), the ETF which offers the largest exposure to Goldman Sachs at 10% of its portfolio, slipped 0.9% in forenoon trading.

-- Reported by Shanthi Venkataraman in New York.

Follow on Twitter and become a fan on Facebook.

Copyright 2010 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
IAT $34.78 0.46%
IAI $42.52 0.62%
AMAT $24.18 -0.37%
BBT $37.97 0.42%
GS $190.08 0.22%


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

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