After-Hours Results Mixed Among U.S. Stocks and ETF Of Closed-End Funds Launched

AmericanPublic Education (APEI) reported earnings of 44 cents per share after the close. The 63% profit rise beat analyst estimates by 2 cents. After hours, shares were up 1%.

MercadoLibre (MELI), a Latin American company similar to eBay, reported an earnings increase of 44% to 26 cents a share. That missed analyst expectations. Shares plunged 9% after hours.

Before the open Tuesday, investors can expect the S&P/Case-Shiller home price data to be released.

{loadposition in-article}

Also, Dorman Products (DORM) is scheduled to report results before the market opens. The maker of truck parts broke out of a tight pattern Friday.

4:15 p.m. Update: A rally that started around noon EST hit a ceiling in the final hour, sending the market to a narrow loss Monday.

The Dow fell 0.2% as the Nasdaq, NYSE composite and S&P 500 dropped 0.1% each. Volume was lower across the board, according to preliminary figures.

The best industry groups on the day were laggards. That’s not ideal. [Read the full article]

PowerShares CEF Income Composite Portfolio (PCEF) tracks the S-Network Composite Closed-End Fund Index. The index was developed by S-Network Global Indexes LLC, a New York-based firm that specializes in such products. The ETF started trading at $25 a share.

Its closest competitor would be Claymore CEF Index-Linked GS Connect ETN (GCE). The exchange traded note offers the returns of a basket of closed-end funds without actually holding them.

A closed-end fund (CEF) is like an open-end mutual fund, but it has a fixed number of shares. It doesn’t take in more money after its initial public offering. It trades like a stock and its price is based on supply and demand as well as the value of the underlying investments. So it could sell at a premium or a discount to its net asset value, whereas mutual funds and ETFs usually trade at or close to their NAVs. [Read the full article]

The market’s gradual rise from February lows has stirred new blood into the top industry groups. Some of these appear to carry such possibilities.

The Oil & Gas-U.S. Exploration and Production industry group, ranked No. 9 Monday, holds only four stocks with EPS Ratings better than 80. In a 110-stock group, this is not a big number.

Among the group’s top EPS plays, Newfield Exploration (NFX) is six weeks into a flat base. Earnings growth has been accelerating for three quarters. Sales emerged from a four-quarter slump in Q4, rising 22%. Analysts expect a 110% sales jump in Q1.

Vanguard Natural Resources (VNR) is an IBD 100 stock. It is just finding its way back after a big sell-off three weeks ago. Its Accumulation/Distribution Rating remains weak.

Apache (APA) may be forming a base-on-base pattern. Sales and earnings both climbed out of a four-quarter-long hole in Q4. Analysts see more growth ahead. [Read the full article]

The Nikkei, which put in a follow-through day last week, on Monday surged 2.7%, leading all major foreign markets for the day.

In fact, the iShares MSCI Japan ETF (EWJ) leads the World Markets map in year-to-date returns with a 1.4% improvement. Most others are still in the red for the year.

But the Nikkei logged a distribution day Friday, just two days after its follow-through. The appearance of that high-volume selling just two days after a follow-through often is an ill omen.

Australia’s benchmark, which rose 1.6% Monday, also suffered a distribution day on Friday. Like the Nikkei, this came two days after its follow-through.

Hong Kong’s Hang Seng Index climbed 2.4% Monday, while South Korea’s composite rose 2.1% both in lower trade.

After a week’s vacation for Chinese New Year, Taiwan’s benchmark index advanced 1.6%. It, too, saw lower volume.

So where did volume increase? In Thailand, where the benchmark index climbed 0.8%. [Read the full article]

You may also like...