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Notable ETF Movers of the Day 11/02: (VNQ) Higher; (GDX) (TAN) Lower

November 2, 2012 12:53 PM EDT Send to a Friend
Gainers:

Vanguard REIT Index ETF (NYSE: VNQ) gained 1.2 percent to 65.44. Simon Property Group (NYSE: SPG) gained 2.4 percent after it was upgraded by analysts at Stifel Nicolaus. Simon property is the top holding in VNQ with an 11 percent weighting.

Decliners:

Market Vectors Gold Miners ETF (NYSE: GDX) declined 3.3 percent to 50.25. Gold miners were slammed on Friday. The collapse is related to a sharp drop in the spot price of gold, which is seeing the largest daily drop in months. The drop is tied to a better than expected jobs number.

Guggenheim Solar (NYSE: TAN) declined 1.6 percent to 14.77. Shares of First Solar are lower by 8 percent, a day after reporting quarterly earnings after the bell on Thursday. While numbers were solid, analyst expressed concern about the profitability of several projects, which resulted in a downgrade by analysts at Cantor Fitzgerald. Related solar stocks appear stable on Friday, with Suntech Power Holding (NYSE: STP) higher by 3.65 percent.




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Stifel Nicolaus, Cantor Fitzgerald, Vanguard, Notable ETF Movers, Earnings

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