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Notable ETF Movers of the Day 11/04: (VXX) (TAN) (UNG) Higher; (SPY) (FXE) (XLF) Lower

November 4, 2011 12:14 PM EDT
Gainers

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 4.14 percent to $44.06. The CBOE VIX is 5 percent better Friday, as investors look toward a confidence vote in Greece as well as nonfarm payroll numbers for October.

    Current Prime Minister George Papandreou may see himself at the bottom end of the confidence vote, leading to a likely change of power atop the Greek parliament. Papandreou scrapped plans for a referendum late-Thursday, as pressure from his own Socialist party mounted. Should Papandreou be ousted from office, more market turmoil might be in store as Greece might reject austerity measures altogether and exit the euro zone.

  • Guggenheim Solar (NYSE: TAN) up 2.63 percent to $3.51. The move is being led by First Solar (Nasdaq FSLR) Friday, which is trading nearly 7 percent better following an upgrade by Lazard Capital and downgrade by ThinkEquity. Late Thursday, First Solar said it was contracted to build a 66-megawatt NRG Energy (NYSE: NRG) solar project.

  • United States Natural Gas (NYSE: UNG) up 0.80 percent to $8.77. Nat gas December contracts are $0.057 higher to $3.835 per mmBtu on the Comex, following reports that India's Oil & Natural Gas Corp (ONGC) reported a 60 percent increase in profit and cold weather moves in throughout the U.S. On ONGC, lower subsidies in India led to higher prices, with continued demand amid recent price hikes. This could be considered a positive signal for the industry an economy. Bloomberg analysts were expecting net income of 64.9 billion rupees, but ONGC posted 86.4 billion rupees of net income, from 53.9 billion reported in the same period last year.


Receders

  • SPDR S&P 500 (NYSE: SPY) down 1.28 percent to $124.64. Markets lower following ecnomic data and ahead of a Greek confidence vote, scheduled for later Friday and into Saturday. U.S. economic data had October nonfarm payrolls coming in with an addition of 80,000, versus the 85,000 expected. The unemployment rate slipped from 9.1 percent to 9.0 percent on the numbers. Currently, the S&P is down about 1.3 percent, leading U.S. markets.

  • CurrencyShares Euro Trust (NYSE: FXE) down 0.36 percent to $137.10. The euro is lower Friday as confidence is still in peril upon a Greek confidence vote. The EUR/USD is down 0.3 percent to €1.3765.

  • Financial Select Sector SPDR (NYSE: XLF) down 1.93 percent to $13.21. The financial ETF is being led lower by Bank of America (NYSE: BAC), which is down 4 percent on the session after reporting it may seek the issuance of common stock and senior notes in exchange for shares of preferred stock, with a maximum amount of 400 million shares. From a filing, BofA said, "These transactions would increase Tier 1 common capital and, on an after-tax basis, reduce the combined level of interest expense and dividends paid on the combined junior subordinated debt and preferred stock."


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