Notable ETF Movers of the Day 06/12: (USO) (TAN) (SMH) Higher; (VXX) (XLU) Lower


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June 12, 2012 11:47 AM EDT Send to a Friend
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Price: $34.21 --0%

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Gainers
  • United States Oil (NYSE: USO) up 2.45 percent to $31.45. Crude oil up ahead of a meeting of OPEC on June 14th, which is expected to have the coalition maintain output amid falling crude prices.

    Prior to the upcoming meeting, OPEC agreed to production cuts evey year for the past 10 years that coincided with a 10 percent or more price drop in the preceding three months. Since March 13th, crude prices have dropped 22 percent as traders speculated on demand as European debt issues lingered and Chinese output slowed.

  • Guggenheim Solar (NYSE: TAN) up 4.31 percent to $17.67. Solars higher following reports that First Solar (Nasdaq: FSLR) is ramping up production in its German plants to meet the unexpected surge in demand. The plants are expected to close by the end of 2012. Shares of First Solar are ripping today, up 14 percent on the session.

    The Company is planning to close the plants -- which are near the German-Poland border -- based on changing subsidies in the region.

  • Market Vectors Semiconductor ETF (NYSE: SMH) up 1.91 percent to $31.53. Semis moving today following Apple's (Nasdaq: AAPL) WWDC 2012 yesterday as well as Texas Instruments (NYSE: TXN) adjusting its second-quarter 2012 outlook.

    After the market closed Monday, TI narrowed its second-quarter EPS guidance from 30 cents to 38 cents previously to a new range of 32 cents to 36 cents. TI moved its sales outlook from $3.22 billion to $3.48 billion to an updated range of $3.28 billion to $3.42 billion. The Street is looking for EPS of 41 cents and revs of $3.35 billion.
Receders
  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 1.63 percent to $19.62. The CBOE VIX is lower as markets become more complacent on speculation of more stimulus to be injected in the system as economic data continues to come in flat.

    Otherwise, Italian and Spanish debt yields shot higher once again Tuesday as investors and traders may believe the Spanish bailout may not go far enough to curbing the larger crisis and Italy as set to auction €4.5 billion of three- and seven-year bonds.

  • Utilities Select Sector SPDR (NYSE: XLU) down 0.25 percent to $36.70. Duke Energy Corp. (NYSE: DUK) showing a rare down day today as some investors might be taking profits on Duke's recent run. Additionally, the energy company and Progress (NYSE: PGN) still need to meet North Carolina and FERC conditions before the proposed $13.7 billion merger is consummated.

    Duke has closed lower only six of the last 20 periods. A lower finish today will be the seventh in 21.


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