ETF Movers: UltraShort Real Estate (SRS) Surges On Weak Home Resales News; Financial Select (XLF) Gives Back Gains

July 24, 2008 3:04 PM EDT

StreetInsider.com ETF Movers:

UltraShort Real Estate ProShares (AMEX: SRS) 12% HIGHER; After bouncing significantly off the lows recently, the sector sees profit taking on news existing home sales are at a 10 year low.

UltraShort Financials ProShares (AMEX: SKF) 10.3% HIGHER; After a record run-up off multi-year lows, financials are giving back recent gains.

SPDR S&P Homebuilders (AMEX: XHB) 9.6% LOWER; After bouncing significantly off the lows recently, the sector sees profit taking on news existing home sales are at a 10 year low. Homebuilder Ryland Group Inc. (NYSE: RYL) is down 23% after reporting a massive Q2 loss.

Financial Select Sector SPDR (AMEX: XLF) 5.5% LOWER; After a record run-up off multi-year lows, financials are giving back recent gains. Citigroup Inc. (NYSE: C) is down 8%, Fannie Mae (NYSE: FNM) down 17%, Wachovia Corporation (NYSE: WB) down 9%, Bank of America Corporation (NYSE: BAC) down 5.8%, Wells Fargo (NYSE: WFC) down 4%.

Internet HOLDRs (AMEX: HHH) 3.3% HIGHER; Strong earnings from Amazon.com (Nasdaq: AMZN), a large holding in the fund.


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Stocks Mentioned

AMZN 142.53

+4.03 +2.91%
Volume: 5,340,312
Track AMZN

BAC 15.60

-0.30 -1.89%
Volume: 54,050,179
Track BAC

C 4.07

-0.03 -0.73%
Volume: 103,420,807
Track C

FNM 0.92

-0.01 -1.08%
Volume: 4,408,243
Track FNM

HHH 59.15

+0.96 +1.65%
Volume: 13,200
Track HHH

RYL 18.65

-0.25 -1.32%
Volume: 435,313
Track RYL

SKF 24.32

+0.06 +0.25%
Volume: 6,585,516
Track SKF

SRS 8.29

-0.20 -2.36%
Volume: 15,265,951
Track SRS

WB 5.54

+0.00 +0.00%
Volume: 79,673,174
Track WB

WFC 27.53

-0.46 -1.64%
Volume: 14,788,161
Track WFC

XHB 14.75

+0.11 +0.75%
Volume: 2,683,863
Track XHB

XLF 14.65

-0.02 -0.14%
Volume: 30,419,742
Track XLF


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