Notable ETF Movers of the Day 08/27: (XOP), (KBE) Higher; (FXI) Lower
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Gainers:
SPDR S&P Oil & Gas Exploration & Prod ETF (NYSE: XOP) is higher by 1.33 percent to 53.41. Shares of Marathon Petroleum Corporation (NYSE: MPC) moved higher by 2.5 percent after the company was upgraded by analysts at Simmons. In the past 3 month shares of Marathon have gained over 30 percent.
SPDR S&P Bank ETF (NYSE: KBE) is higher by 0.94 percent to 22.58 as M&A activity heats up in the space. Shares of M&T Bank Corporation (NYSE: MTB) popped by 5 percent after the company announced a $3.7 billion takeover of Hudson City Bancorp. (Nasdaq: HCBK). HCBK is higher by over 16 percent.
Decliners:
iShares FTSE China 25 Index ETF (NYSE: FXI) is lower by 1.09 percent to 33.64. After last week’s weak Flash PMI reading, investors remain concerned about slowing in China. Overnight data showed that company profits in China slipped. Year-over-year, industrial profits are lower by 2.7 percent in July.
SPDR S&P Oil & Gas Exploration & Prod ETF (NYSE: XOP) is higher by 1.33 percent to 53.41. Shares of Marathon Petroleum Corporation (NYSE: MPC) moved higher by 2.5 percent after the company was upgraded by analysts at Simmons. In the past 3 month shares of Marathon have gained over 30 percent.
SPDR S&P Bank ETF (NYSE: KBE) is higher by 0.94 percent to 22.58 as M&A activity heats up in the space. Shares of M&T Bank Corporation (NYSE: MTB) popped by 5 percent after the company announced a $3.7 billion takeover of Hudson City Bancorp. (Nasdaq: HCBK). HCBK is higher by over 16 percent.
Decliners:
iShares FTSE China 25 Index ETF (NYSE: FXI) is lower by 1.09 percent to 33.64. After last week’s weak Flash PMI reading, investors remain concerned about slowing in China. Overnight data showed that company profits in China slipped. Year-over-year, industrial profits are lower by 2.7 percent in July.
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