Afternoon ETF Check: SMH Up; XLF, TAN, EWJ Down

November 24, 2009 1:13 PM EST

HIGHER;


  • Semiconductor HOLDRs (NYSE: SMH) up $0.19, about 0.75%, to $25.54. Semis are up after Analog Devices (NYSE: ADI) reported earnings and revenues above Street estimates.

LOWER:

  • Financial Select Sector SPDR (NYSE: XLF) down 0.95% to $14.67. Financials lower as the FDIC reported the number of troubled banks as 552 - the largest since the end of 1993. Also, WSJ highlighted the trillions of debt maturing over the next few year.
  • Claymore/MAC Global Solar Energy (NYSE: TAN) down 0.96% to $9.33. The ETF is down as polysilicon, a key ingredient in solar power collection, is dropping in price. Only problem? Many producers locked in their price back in 2007 with futures contracts, and now may end up paying a higher price than what the market is offering. Also, group momentum stock Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), is down 5% on a downgrade from Broadpoit.Amtech. The analyst cited a lack of near-term catalysts and ensuing poly ramp.
  • iShares MSCI Japan Index (NYSE: EWJ) shares down 1.59% to $9.26. The Japanese Yen show some strength versus some major foreign currencies, however, the country's most power business lobby, the Japan Business Federation, was quoted as saying that Japan was not on a self-sustaining path. Also, asian stock were weak due to selling started in China.


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Stocks Mentioned

ADI 27.12

+0.32 +1.19%
Volume: 4,841,298
Track ADI

EWJ 9.81

+0.06 +0.62%
Volume: 37,335,109
Track EWJ

SMH 25.27

+0.26 +1.04%
Volume: 13,940,150
Track SMH

TAN 8.45

+0.21 +2.55%
Volume: 458,212
Track TAN

XLF 13.80

+0.14 +1.02%
Volume: 154,480,311
Track XLF

YGE 12.70

+0.30 +2.42%
Volume: 5,402,670
Track YGE


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