ETF Outlook for Tuesday, April 29, 2014
iShares U.S. Pharmaceutical ETF (NYSE: IHE)
The news regarding U.S.-based drug companies continues to be heavy as earnings hit the wires this morning along with more merger news. Bristol-Myers Squibb (NYSE: BMY) reported earnings above estimates, but revenue below what analysts were looking for. The stock is trading down on the news.
Pfizer (NYSE: PFE) is on the move higher Tuesday as it still attempts a takeover of AstraZeneca (NYSE: AZN). The combo of earnings and merger news will keep IHE in play all day as volatility increases.
Guggenheim Solar ETF (NYSE: TAN)
A downgrade of several China-based solar stocks by Credit Suisse put pressure on the sector and TAN closed the day down 4.4 percent. Even though the move to the downside ...More...