Intel's McAfee Bid Lifts Software ETFs

Software ETFs with an exposure to McAfee were gaining in Thursday morning trading.
Author:
Publish date:

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) - Get Report

and

iShares S&P North American Technology

(IGV) - Get Report

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) - Get Report

and

Retail HOLDRS

(RTH) - Get Report

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) - Get Report

is rising 0.5%. The

iShares Barclays 20+year

(TLT) - Get Report

is up 1.8% in Thursday forenoon trading.

-- Reported by Shanthi Venkataraman in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

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