Intel's McAfee Bid Lifts Software ETFs
NEW YORK (
) --
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
and become a fan on
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
