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Intel's McAfee Bid Lifts Software ETFs

NEW YORK ( TheStreet) -- Intel's (INTC - Get Report) $7.6 billion bid for McAfee (MFE) gave a boost to select software ETFs with exposure to the security provider.

The Internet HOLDRS (HHH) is rising 1.3%. The ETF has a 3.8% exposure to McAfee. PowerShares Dynamic Networking (PXQ) and iShares S&P North American Technology (IGV) also received buyer attention because of their holding in the stock, which is surging nearly 58% on news of the bid.

Retail ETFs headed lower as the earnings season continues to bring in mixed results and a spike in initial jobless claims intensified growth concerns. The SPDR Retail ETF (XRT) and Retail HOLDRS (RTH) were falling 1.4% and 1.3% respectively.

Broad market selling following weak economic data sent a number of ETFs into the negative territory including solar ETFs and homebuilder ETFs, both of which gained in yesterday's trading session. Weak market sentiment however, sent gold ETFs and treasury ETFs higher. The SPDR Gold Trust (GLD) is rising 0.5%. The iShares Barclays 20+year (TLT) is up 1.8% in Thursday forenoon trading.

-- Reported by Shanthi Venkataraman in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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RTH $68.13 0.18%
XRT $38.53 -0.31%
TLT $131.63 -0.29%
GLD $113.58 -0.22%
PXQ $27.79 -1.18%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

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