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Notable ETF Movers of the Day 11/16: (IBB) (USO) Higher; (IYT) Lower

November 16, 2012 3:28 PM EST Send to a Friend
Gainers:

iShares Nasdaq Biotechnology (NYSE: IBB) gained 2.2 percent to 131.40. Shares of Regeneron Pharmaceuticals (Nadaq: REGN) gained 10 percent in fairly heavy volume. Gains could be tied to a CHMP opinion on Zaltrap. Shares of Alexion (Nasdaq: ALXN) also posted solid performance, gained 2.9 percent.

United States Oil (NYSE: USO) gained 1.3 percent as geopolitical tensions in the Middle East offset worries of a global slowdown. On Friday,Israeli ministers were asked to activate 75 thousand army reservists as Palestinian militants hit Jerusalem and Tel Aviv with rockets. Many are surprised by the relatively muted reaction in oil, as the situation appears to be escalating.

Decliners:

iShares Dow Jones Transportation Average (NYSE: IYT) declined 0.85 percent to 86.51. Shares of railroad companies such as Norfolk Southern Corp. (NYSE: NSC) came under pressure for the third day in a row. Declines appear to be related to fiscal cliff worries.




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