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TheStreet Open House

Semi ETFs Up on Oracle Takeover Buzz

NEW YORK ( TheStreet) -- Semiconductor ETFs were in demand on Friday after Oracle (ORCL) said at an analyst meeting that it would consider buying a chip company.

The SPDR S&P Semiconductor ETF (XSD) was up 3.8%. The ETF has a 4.3% exposure to Advanced Micro Devices (AMD) which was up 6% to $6.80 even as it cut its revenue forecast for the third quarter, citing poor PC demand. Markets, however, gave the stock a thumbs up as the lower demand was already priced in.

The iShares North American Semiconductor ETF (IGW) also rose nearly 4%. The fund has an exposure to prominent chipmakers including Intel (INTC), Micron (MU), Applied Materials (AMAT) and Cree (CREE).

Oil equipment sector ETFs were also attracting interest on Friday after Brazilian oil major PetroBras (PBR) successfully raised $70 billion. The Oil Services ETF (OIH) was up 3.4%.

European ETFs were also seeing enhanced interest on Friday after a gauge of business sentiment in Germany unexpectedly rose. The iShares MSCI Spain Index (EWP) jumped 4%. The SPDR S&P Euro Stoxx 50 (FEZ) was up 3.9%. ETFs investing in France, Netherlands and Poland were also rising.

--Written by Shanthi Venkataraman in New York



>To contact the writer of this article, click here: Shanthi Venkataraman.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

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

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