Notable ETF Movers of the Day 04/17: (QQQ) (USO) (TAN) Higher; (VXX) (GLD) Lower
- PowerShares QQQ (Nasdaq: QQQ) up 1.25 percent to $66.27. U,S, markets are higher Tuesday following strong quarterly numbers from Coca-Cola (NYSE: KO), Goldman Sachs (NYSE: GS), Johnson & Johnson (NYSE: JNJ), and others. The jump also reverses an uncharacteristic 4.2 percent drop for Apple (Nasdaq: AAPL) on Monday, capping a 5-session losing streak. The most recent period that Apple slipped for 5-days was last September/October.
- United States Oil (NYSE: USO) up 1.51 percent to $39.77. Crude futures are higher on overall market sentiment. In Europe, a recent Spanish auction caught impressive demand while ZEW said Germany's economic expectations index rose from 22.3 in March to 23.4 in April.
- Guggenheim Solar (NYSE: TAN) up 2.53 percent to $23.09. First Solar (Nasdaq: FSLR) making some moves after reporting it will be restructuring its operations in response to deteriorating market conditions in Europe and to reduce costs and align its organization with sustainable market opportunities.As part of this program, First Solar will close its manufacturing operations in Frankfurt (Oder), Germany, in the fourth quarter of 2012. Additionally, the Company will indefinitely idle four production lines at its manufacturing center in Kulim, Malaysia, on May 1, 2012. These actions, combined with other personnel reductions in Europe and the U.S., will reduce First Solar’s global workforce by approximately 2,000 positions, about 30 percent of the total.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 5.24 percent to $18.00. The CBOE VIX near-term index is off about 8.5 percent Tuesday as markets rebound on overall strong corporate earnings reports.
- SPDR Gold Shares (NYSE: GLD) down 0.07 percent to $160.35. Gold slightly lower, though moving higher, as the U.S. dollar hangs flat versus the euro following German sentiment and the Spanish debt auction. The flat dollar makes gold contracts less expensive for outside investors.
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