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Semi ETFs Up on Oracle Takeover Buzz

NEW YORK ( TheStreet) -- Semiconductor ETFs were in demand on Friday after Oracle (ORCL - Get Report) 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 - Get Report) 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 - Get Report), Micron (MU - Get Report), Applied Materials (AMAT - Get Report) 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.

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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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AMAT $16.81 0.00%
AMD $1.98 0.00%
INTC $29.04 0.00%
MU $11.00 0.00%
ORCL $35.70 0.00%


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