Notable ETF Movers of the Day 01/07: (XLV) Higher; (TAN) (XRT) Lower
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Gainers:
Health Care Select Sector SPDR ETF (NYSE: XLV) gained 0.1 percent to 40.9. Investors in the health sectors space were focused on developments at 31st Annual JPMorgan Healthcare Conference in San Francisco. A number of companies, including Gilead Sciences, Inc. (Nasdaq: GILD) and Merck & Co., Inc. (NYSE: MRK) made presentations at the conference, giving investors plenty to digest. This allowed health care sector stocks to hold stead while broader markets declined.
Decliners:
Guggenheim Solar (NYSE: TAN) declined 17.8 percent. Solar stocks had a huge run last week on news Buffett’s MidAmerican Energy was entering the space. As a result a number of shorts were squeezed. Today many of those shorts are back, and they are not happy. Suntech Power Holdings Co. Ltd. (NYSE: STP) stock came under pressure, declining 17 percent. LDK (NYSE: LDK) also experienced selling pressure. Recent reports raise questions about the level of debt held by solar companies.
SPDR S&P Retail (NYSE: XRT) declined 1.3 percent to 63.07. Last week XRT performed well, and today's move appears to be modest profit taking. Brown Shoe Co., Inc. (NYSE: BWS) was among losers in the sector, declining 4.8 percent.
Health Care Select Sector SPDR ETF (NYSE: XLV) gained 0.1 percent to 40.9. Investors in the health sectors space were focused on developments at 31st Annual JPMorgan Healthcare Conference in San Francisco. A number of companies, including Gilead Sciences, Inc. (Nasdaq: GILD) and Merck & Co., Inc. (NYSE: MRK) made presentations at the conference, giving investors plenty to digest. This allowed health care sector stocks to hold stead while broader markets declined.
Decliners:
Guggenheim Solar (NYSE: TAN) declined 17.8 percent. Solar stocks had a huge run last week on news Buffett’s MidAmerican Energy was entering the space. As a result a number of shorts were squeezed. Today many of those shorts are back, and they are not happy. Suntech Power Holdings Co. Ltd. (NYSE: STP) stock came under pressure, declining 17 percent. LDK (NYSE: LDK) also experienced selling pressure. Recent reports raise questions about the level of debt held by solar companies.
SPDR S&P Retail (NYSE: XRT) declined 1.3 percent to 63.07. Last week XRT performed well, and today's move appears to be modest profit taking. Brown Shoe Co., Inc. (NYSE: BWS) was among losers in the sector, declining 4.8 percent.
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