ETF Trends
04-09-2008, 01:30 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/images/2008/04/09/ups.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/09/ups.jpg) The transportation exchange traded fund (ETF) is down 2.8% midday after UPS (UPS (http://finance.yahoo.com/q?s=UPS)), a major component of the fund, announced a lowered outlook.
The world's largest shipping carrier blamed a weak economy and the skyrocketing cost of fuel for needing to trim its first-quarter earnings forecast, reports Tim Paradis for the Associated Press (http://biz.yahoo.com/ap/080409/wall_street.html). Shares of UPS are down 3.2% in midday trading.
The company is 7.4% of the iShares Dow Jones Transportation (IYT (http://finance.yahoo.com/q?s=IYT)). Year-to-date, the fund is up 9.5%, and is still 4.9% above its 200-day moving average. Its other top holdings are Union Pacific (UNP (http://finance.yahoo.com/q/hl?s=unp), 13.1%), FedEx Corp. (FDX (http://finance.yahoo.com/q/hl?s=fdx), 9.3%) and Burlington Northern Santa Fe Corp. (BNP (http://finance.yahoo.com/q/hl?s=bnp), 9.2%).
The news only adds to concerns about the health of corporate earnings and the economy at large.
http://www.etftrends.com/images/2008/04/09/z.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/09/z.png)
For full disclosure, some of Tom Lydon's clients own shares of IYT.
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/267171397/ups-lowers-outl.html)
http://www.etftrends.com/images/2008/04/09/ups.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/09/ups.jpg) The transportation exchange traded fund (ETF) is down 2.8% midday after UPS (UPS (http://finance.yahoo.com/q?s=UPS)), a major component of the fund, announced a lowered outlook.
The world's largest shipping carrier blamed a weak economy and the skyrocketing cost of fuel for needing to trim its first-quarter earnings forecast, reports Tim Paradis for the Associated Press (http://biz.yahoo.com/ap/080409/wall_street.html). Shares of UPS are down 3.2% in midday trading.
The company is 7.4% of the iShares Dow Jones Transportation (IYT (http://finance.yahoo.com/q?s=IYT)). Year-to-date, the fund is up 9.5%, and is still 4.9% above its 200-day moving average. Its other top holdings are Union Pacific (UNP (http://finance.yahoo.com/q/hl?s=unp), 13.1%), FedEx Corp. (FDX (http://finance.yahoo.com/q/hl?s=fdx), 9.3%) and Burlington Northern Santa Fe Corp. (BNP (http://finance.yahoo.com/q/hl?s=bnp), 9.2%).
The news only adds to concerns about the health of corporate earnings and the economy at large.
http://www.etftrends.com/images/2008/04/09/z.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/09/z.png)
For full disclosure, some of Tom Lydon's clients own shares of IYT.
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/267171397/ups-lowers-outl.html)