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Semiconductor ETFs Shed on NVIDIA Negative Outlook

NEW YORK ( TheStreet) -- Semiconductor ETFs are prominent losers in Thursday morning action. The SPDR S&P Semiconductor ETF (XSD) was down nearly 4%. Among its top holdings is NVIDIA (NVDA - Get Report), which plunged 9.5% on Thursday morning after it slashed its second quarter revenue forecasts.

ETF investors also focused on consumer staples after Colgate Palmolive (CL - Get Report) and Kellogg (K - Get Report) reported worse-than-expected results.

Colgate Palmolive missed revenue estimates on slowing volume growth and pricing pressure. The stock is shedding 7.7% on Thursday afternoon. Kellogg cut its annual guidance to reflect the impact of product recalls. Its stock is down about 5% at $48.98.

Meanwhile, the SPDR Consumer Staples (XLP) and Vanguard Consumer Staples Index Fund (VDC) were losing 1.4% and 1.6% respectively.

-- Reported by Shanthi Venkataraman in New York.

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SYM TRADE IT LAST %CHG
CL $69.28 0.00%
K $64.39 0.00%
NVDA $22.20 0.00%
VDC $127.55 0.00%
XLP $49.06 0.00%

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