Friday's ETF Winners & Losers
The
Internet Infrastructure HOLDRs
(IIH)
exchange-traded fund was Friday's biggest winner, jumping 9% as tech stocks rebounded from the previous session's selloff thanks to M&A news.
Among its holdings,
BEA Systems
(BEAS)
surged 33% after software giant
Oracle
(ORCL) - Get Report
made an unsolicited bid for the company.
The Internet Infrastructure HOLDRs was recently up 48 cents to $5.76. Among other related ETFs benefiting from the BEA news, the
First Trust Dow Jones Internet Index
(FDN) - Get Report
added 58 cents, or 2.1%, to $27.71. The
iShares S&P GSTI Software
(IGV) - Get Report
ETF was up $1.07, or 2.1%, to $53.
A sharp decline in
Baidu.com
(BIDU) - Get Report
on Thursday sank Asia indices overnight, but the stock was up 1.2% during the current session and supported advances in related ETFs.
The
iShares FTSE/Xinhua China 25 Index
(FXI) - Get Report
ETF was rising $6.10, or 3.2%, to $198.60. The
PowerShares Golden Dragon Halter USX China
(PGJ) - Get Report
ETF was gaining $1.02, or 3%, to $35.34. The
SPDR S&P China
(GXC) - Get Report
ETF was up $2.83, or 2.8%, to $102.48.
On the other hand, housing-related ETFs sank after Wachovia lowered 2007 and 2008 earnings estimates for 13 homebuilders. Among those cut were
Centex
(CTX)
,
Beazer Homes
(BZH) - Get Report
,
Lennar
(LEN) - Get Report
,
Toll Brothers
(TOL) - Get Report
,
Hovnanian
(HOV) - Get Report
and
D.R. Horton
(DHI) - Get Report
.
The
iShares Dow Jones U.S. Home Construction
(ITB) - Get Report
ETF was down 67 cents, or 3%, to $21.65. The
SPDR S&P Homebuilders
(XHB) - Get Report
ETF was losing 45 cents, or 1.9%, to $22.85.
Bundled securities tracking the retail sector were also lower despite a strong government report on retail sales during September. The Commerce Department said that retail sales rose 0.6% last month, tripling expectations. Excluding autos, retail sales increased 0.4%, also topping expectations.
However, the
SPDR S&P Retail
(XRT) - Get Report
ETF was shedding 38 cents, or 0.9%, to $40.19. Among its holdings,
Tiffany
(TIF) - Get Report
,
Costco Wholesale
(COST) - Get Report
and
PetSmart
(PETM)
were lower by 1.7% or more.