Just as M&A headlines boosted the broader markets for the week, Internet-related exchange-traded funds benefited from rumors of a potential blockbuster deal between two tech titans.
The Internet sector was buzzing on Friday, thanks to word that
could have a suitor -- and it's a big one. According to the
New York Post
wants Yahoo! to enter formal discussions for what the report said could be a $50 billion deal.
Yahoo! surged 10% on Friday to finish the week with a 9.3% gain.
Quarterly earnings beats also powered the tech sector. Earlier in the week,
posted a profit that beat Thomson First Call's average EPS target by a nickel. RealNetworks jumped 13.3% over the five sessions.
was the best performer of the week, adding 3.7% to $62.10. The
First Trust Dow Jones Internet Index
climbed 1.2% to $25.14.
Meanwhile, strong earnings from
on Wednesday boosted the
Internet Architecture HOLDRs
by 2% to $45.20.
HealthShares Emerging Cancer
ETF was another of the week's winners.
has surged 28% over the last five sessions on expectations the Food and Drug Administration will approve the company's prostate cancer vaccine Provenge. A decision is due May 15.
The HealthShares Emerging Cancer ETF finished the week higher by 1.7% to $26.91.
On the losing side, a drop in crude prices for the week sank energy-related ETFs. The June crude contract finished a volatile five-day stretch lower by 6.8% at $61.93 a barrel.
United States Oil
shed 6.8% to $48.30. The
iPath Goldman Sachs Crude Oil Index
ETF fell 6.7% to $35.34, and the
ProShares DB Oil
was lower by 2.3% at $26.02.
Housing-related ETFs were also among the weakest performers of the week. On Tuesday, the National Association of Realtors said pending home sales fell 4.9% in March, compared with a 0.7% rise the previous month. Sales are now down 10.5% on a year-over-year basis.
iShares Dow Jones U.S. Home Construction
ETF slid 2.2% at $36.26. The
ETF ended the week down 1.8% to $34.41.
ETFs tracking silver were among the worst performers. Silver futures dipped 0.3% to close at $13.53 an ounce. The
iShares Silver Trust
lost 0.8% to $133.80, and the
PowerShares DB Silver
ETF shed 0.7% to $26.69.