Notable ETF Movers of the Day 11/12: (IBB) Higher; (XLU) (ITB) Lower

November 12, 2012 12:58 PM EST

iShares Nasdaq Biotechnology (Nasdaq: IBB) gained 2 percent to 132.57. The move is tied to shares of Gilead Sciences (Nasdaq: GILD) which gained 12 percent on positive results for its drug combo 7977/5885 for treatment of hepatitis C. Shares of Celgene (Nasdaq: CELG) were also higher today, gaining 5.75 percent on reports ABRAXANE met endpoints in a phase 3 study.


Utilities Select Sector SPDR (NYSE: XLU) declined 1 percent to 34.34. After weak results from Southern Company (NYSE: SO) last week, utilities have had a difficult run, declining over 4 percent. Allegedly, utilities are also facing pressure as investors dump dividend paying stock in anticipation of higher tax rates as Democrats maintain power in Washington.

iShares Dow Jones US Home Construction (NYSE: ITB) declined 1.25 percent after Beazer (NYSE: BZH) reported disappointed results. Shares of Beazer declined 14 percent, dragging down sector names. DR Horton Inc. (NYSE: DHI) declined 3 percent.

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