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 126.20

+5.59 +4.63%
Volume: 13,229,861
Track AMZN

BAC 15.05

-0.08 -0.53%
Volume: 152,280,652
Track BAC

C 4.06

+0.00 +0.00%
Volume: 253,384,991
Track C

FNM 1.04

-0.08 -7.14%
Volume: 50,955,884
Track FNM

HHH 55.81

+1.19 +2.18%
Volume: 31,000
Track HHH

RYL 19.23

-0.35 -1.79%
Volume: 1,358,279
Track RYL

SKF 26.02

+0.20 +0.77%
Volume: 22,728,002
Track SKF

SRS 10.20

+0.31 +3.13%
Volume: 30,503,225
Track SRS

WB 5.54

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

WFC 27.12

-0.17 -0.62%
Volume: 37,612,148
Track WFC

XHB 14.57

+0.13 +0.90%
Volume: 8,358,318
Track XHB

XLF 14.31

-0.06 -0.42%
Volume: 73,974,127
Track XLF


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