Thu, Mar. 17, 3:08 PM
- With the S&P 500 returning to more or less flat on the year, Bespoke digs down into sector performance and finds most of them nicely in the green, including the roughed-up energy group (NYSEARCA:XLE) with a 5.9% gain.
- Leading on the upside, though, are the telecoms (NYSEARCA:XTL), ahead 14.4%, and utilities (NYSEARCA:XLU), up 13.3%. Consumer Staples (NYSEARCA:XLP), Materials (NYSEARCA:XLB), and Industrials (NYSEARCA:XLI) are all up between 3.7% and 4.5%, while Consumer Discretionary (NYSEARCA:XLY) is flat.
- Holding the S&P 500 back, then, is healthcare (NYSEARCA:XLV), with an 8.2% decline, and financials (NYSEARCA:XLF), down 5.5%. Within, healthcare, the biotechs (NASDAQ:IBB) have plunged 27%.
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- Twitter's down 32% this year, Facebook's off 20% in a month, and biotech nearly that much, but money is returning to the industrial sector. While the Nasdaq 100 posted its worst one-day drop since 2011 on Friday and last week fell for the 3rd week in 4, the Industrial Select SPDR (XLI) gained 1.6%.
- In the year's first quarter, the XLI had lost 1.4%, putting it in 9th place among 10 S&P 500 groups.
- "You’re seeing the beginning of investors shifting money ahead of a wave of spending,” says Drew Nordlicht of HighTower Advisors. “The expectation is, as the economy begins to kick into a higher gear, corporate America will utilize the amount of cash to spend on capital expenditures."
- GE comprises more than 10% of the XLI, and UTX, Union Pacific, Boeing, and 3M round out the top 5, each with holdings in the 5% range.
- Related ETFs: XLI, PHO, CGW, PIO, VIS, ITA, FIW, PPA, IGF, CARZ, IYJ, XAR, IPN, EMIF, FIDU, PRN, UXI, FXR, PXR, EXI, GII, EVX, FLM, RGI, SIJ, PSCI, NFRA, TOLZ, AXID
Dec. 11, 2013, 2:59 PM
- The two worst-performing sectors on a down day are industrials (XLI -1.4%) and homebuilders (XHB -1.5%), (ITB -1.9%).
- Industrials are taking a hit after Joy Global (JOY -6.3%) missed earnings estimates and provided disappointing guidance. "With a limited number of projects that can book in time to help 2014, we continue to see both the need and opportunity to lower the cost base in our business," says the company. Caterpillar (CAT -1.2%).
- Homebuilders continue to digest Toll Brothers' (TOL -1.8%) "leveling in demand" comments from yesterday's earnings results - in the 19 weeks since August 1, business has been flat vs. last year, and in the first 5 weeks of FQ1 (beginning Nov. 1) business has also been flat from 2012 (though Hurricane Sandy makes a tricky comparison).
- CEO Doug Yearley on the earnings call (transcript): "There's just not a lot of action [this time of year]. We still feel like pent-up demand is building, demographics are on our side, affordability is in place, and we are cautiously optimistic about the spring season, which begins the end of January."
- Lennar (LEN -2.3%), D. R. Horton (DHI -3%), KB Home (KBH -3.1%), Hovnanian (HOV -3.3%)
Aug. 2, 2013, 5:05 PM
Sep. 25, 2012, 2:29 PMHeavy equipment makers lag the broader market after Caterpillar (CAT -3.2%) lowered its 2015 guidance due to slumping demand for mining equipment as well as a sluggish global economic recovery. CAT's cautious forecast is infecting other stocks that also depend on countries like China to keep building homes and factories: JOY -4%, TEX -4.2%, MTW -5.5%. | Sep. 25, 2012, 2:29 PM | 4 Comments
Mar. 20, 2012, 10:59 AMCaterpillar (CAT -2.2%) is the Dow's top loser as renewed concerns about China's economic growth sparks a decline in shares of U.S. industrial companies (XLI -1.4%), and as CAT says its sales are rising in each of the world's regions but at a lower rate than in past months. Among other top industrials: JOYG -4.7%, CMI -4.1%. | Mar. 20, 2012, 10:59 AM
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Jun. 20, 2011, 10:18 AM
Carpenter Technology (CRS +7.89%) agrees to buy Latrobe Specialty Metals for $388M. Latrobe had initially filed plans for a $175M IPO in May, but cancelled after being approached by Carpenter, saying the deal will provide "superior benefits for all of our stakeholders."| Jun. 20, 2011, 10:18 AM
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