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The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. The underlying Index is composed of at least 30 securities of companies in the technology sector that have powerful relative strength or momentum characteristics. Dorsey Wright selects these securities from approximately 2,000 of the largest constituents by market capitalization within the Nasdaq US Benchmark Index, a float adjusted market capitalization-weighted index designed to track the performance of the U.S. equity market.

Ast Spacemobile Inc Class A

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Arista Networks Inc.

Meta Platforms Inc

Kla Corp.

Axcelis Technolgies Inc.

Terawulf Inc

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Rigetti Computing Inc

Dave Inc

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RGTI

SPRX

Rigetti Computing stock  is down amid the launch of the 2X leveraged RGTX ETF, amplifying exposure to the quantum computing company.

What&#39;s Going On With Rigetti Computing Stock Today?

Nvidia, Palantir, Ionq, Novavax, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

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IONQ

IonQ shares are down amid concerns over U.S. tariffs. The company delivered and commissioned a quantum networking system for the U.S. Air Force.

What&#39;s Going On With IonQ Stock Today?

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COMM

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PRFZ

CommScope completed refinancing with first-lien lenders, secured agreements with Apollo and Monarch.

CommScope Soars Over 23% After $4.15 Billion Debt Refinancing Deal: Details

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Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) saw its shares trade lower on Tuesday amid the announcement of a new <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44580192/defiance-launches-rgtx-2x-leveraged-etf-for-rigetti-computing-inc" rel="noreferrer noopener">exchange-traded fund launched by </a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44580192/defiance-launches-rgtx-2x-leveraged-etf-for-rigetti-computing-inc" rel="noreferrer noopener">Defiance ETFs</a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44580192/defiance-launches-rgtx-2x-leveraged-etf-for-rigetti-computing-inc" rel="noreferrer noopener">.</a>



The ETF, called RGTX, is a 2X leveraged single-stock ETF designed to amplify exposure to Rigetti Computing.



This new product allows traders to seek returns from Rigetti&#8217;s performance without the need for a margin account.



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RGTI stock has gained over 434% in the past year.



RGTX seeks daily investment results that correspond to twice (200%) the daily percentage change in Rigetti&#8217;s stock price.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44582813/whats-going-on-with-ionq-stock-today" rel="noreferrer noopener">What&#8217;s Going On With IonQ Stock Today?</a>



As a prominent player in the quantum computing industry, Rigetti has made significant strides in developing quantum processors and expanding its Quantum Computing as a Service (QCaaS) platform.



Sylvia Jablonski, CEO of Defiance ETFs, stated that the ETF provides a trading tool for those looking to capitalize on Rigetti&#8217;s market performance, particularly as the company continues to push forward with innovative research and technology.



Rigetti&#8217;s recent financial report for the fourth quarter showed revenue of $2.3 million, <a target="_blank" href="https://www.benzinga.com/news/earnings/25/03/44153467/rigetti-computing-q4-earnings-revenue-miss-quanta-computer-collaboration-highlights" rel="noreferrer noopener">slightly missing analysts&#8217; expectations of $2.5 million.</a> The company reported an adjusted loss of eight cents per share, aligning with estimates.



Rigetti&#8217;s strategic agreement with Quanta Computer, a Taiwan-based leader in server manufacturing, signals promising growth ahead.



Both companies will invest over $100 million over the next five years, strengthening Rigetti&#8217;s position in the growing quantum computing market.



Investors can gain exposure to the stock via&nbsp;other ETFs like Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and&nbsp;Spear Alpha ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRX#NASDAQ">SPRX</a>).



Price Action: RGTI shares are trading lower by 1.74% to $7.782 at last check Tuesday.



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Image via Shutterstock.

What's Going On With Rigetti Computing Stock Today?

IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) shares are trading lower in the morning session amid weakness in anticipation of U.S. tariffs, <a href="https://www.benzinga.com/news/global/25/02/44010093/trumps-plan-for-canada-mexico-china-tariffs-to-start-march-4-could-shake-stock-market" target="_blank" rel="noreferrer noopener">expected to begin Tuesday</a>. 



Meanwhile, the company announced that it has delivered and commissioned a quantum networking system optimized for research and development at the U.S. Air Force Research Laboratory facility in Rome, New York.



The newly implemented system is based on trapped ion technology and is designed to support the Air Force&#8217;s research goals.



It is expected to enhance precision, flexibility, and scalability in quantum networking methodologies and algorithms.



IonQ&#8217;s President and CEO, Niccolo de Masi, emphasized the collaboration's importance, stating that the system marks the delivery of &#8220;enterprise-grade quantum capabilities today, not 10 years from now.&#8221;



Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44106384/whats-going-on-with-rocket-lab-stock-today" rel="noreferrer noopener">What&#8217;s Going On With Rocket Lab Stock Today?</a>



The partnership is poised to contribute to advancements in quantum technologies, particularly in areas critical to national security, such as secure quantum networking and communications.



Michael Hayduk, Deputy Director at AFRL, also highlighted the potential of quantum computing to address complex challenges in materials science and optimization. Following its first AFRL contract in 2022, IonQ has since been awarded three additional contracts with a total value of over $94.4 million.



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, IONQ stock has gained over 114% in the past year. Investors can gain exposure to the stock via&nbsp;Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action: IONQ shares are trading lower by 4.24% to $22.20 at last check Tuesday.



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Image via Shutterstock.

What's Going On With IonQ Stock Today?

CommScope Holding Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) shares are trading higher premarket today. On Tuesday, the company completed a comprehensive<a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42540849/commscope-announces-strategic-refinancing-transaction-to-significantly-strengthen-capital-structur" rel="noreferrer noopener"> refinancing with its first-lien secured lenders</a>.



As part of the refinancing, CommScope secured agreements with existing first-lien lenders, including Apollo and Monarch Alternative Capital.



The transaction includes a $3.15 billion first-lien term loan maturing in 2029 and $1 billion in first-lien notes maturing in 2031.



This transaction addresses its 2025 and 2026 debt maturities, strengthening its financial position for future growth.



Proceeds from this new debt will fully repay senior unsecured notes due in 2025 and the existing senior secured term loan facility.



Additionally, proceeds from the $2.1 billion sale of CommScope&#8217;s Outdoor Wireless Networks segment and Distributed Antenna Systems business to Amphenol Corporation, expected to close in the first-quarter of 2025, will fully repay senior secured notes due in 2026 and partially redeem senior secured notes due in 2029.



After applying net proceeds from the anticipated first-quarter 2025 sale of the OWN and DAS businesses, CommScope expects to meet the conditions for a rate reduction on its first-lien term loan.



The refinancing, combined with these proceeds and projected business performance, is expected to lower the company&#8217;s total debt-to-adjusted EBITDA ratio to below 6.00x by the end of 2026.



Chuck Treadway, President and Chief Executive Officer of CommScope, said, &#8220;By successfully addressing our near-term maturities and greatly improving our pro forma leverage ratio, we move forward with the flexibility to focus on our core businesses and invest in the technology, products, and personnel to better deliver for our customers, and capitalize as the telecom industry recovers in the coming quarters.&#8221;



The company finished the third quarter with liquidity of more than $1.02 billion, including <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41801412/commscope-reports-third-quarter-2024-results" rel="noreferrer noopener">cash of $456 million</a>.



Investors can gain exposure to the stock via&nbsp;Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and Invesco FTSE RAFI US 1500 Small-Mid ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFZ#NASDAQ">PRFZ</a>).



Price Action: COMM shares are up 23% at $6.90 premarket at the last check Wednesday.



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Image via Shutterstock.

Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) shares are trading higher after the company announced a 108% year-over-year usage increase for its marketing platform <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42314055/zeta-global-reports-108-yoy-increase-in-zeta-marketing-platform-usage-during-start-of-holiday-shop" rel="noreferrer noopener">from Thanksgiving to Cyber Monday</a>.



The platform achieved 100% uptime as brands leveraged it for personalized, multi-channel marketing to enhance business outcomes during the holiday season.



According to a Zeta survey, while Thanksgiving weekend saw record sales, 53% of shoppers plan to start holiday purchases in December, up 8% from last year. Lower holiday activity in October and November aligns with shifting trends.



With consumer confidence at a 16-month high, Zeta anticipates strong demand for its ROI-driven marketing tools to help brands adapt and engage effectively this season.



In October, the company disclosed its agreement to acquire&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41247990/zeta-global-expands-reach-with-250m-liveintent-acquisition-ai-driven-growth-ahead" rel="noreferrer noopener">LiveIntent&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41247990/zeta-global-expands-reach-with-250m-liveintent-acquisition-ai-driven-growth-ahead" rel="noreferrer noopener">for $250 million</a>.



The agreement includes a potential earnout of up to $25 million per year, split 50% cash and 50% stock, based on significant Adjusted EBITDA growth and sustained margin expansion in 2025, 2026, and 2027.



Investors can gain exposure to the stock via&nbsp;Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action: ZETA shares are up 10.32% at $26.35 at the last check on Wednesday.



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Mid Cap

Trading Ideas

ZETA

Why Is Zeta Global Stock Soaring On Wednesday?

Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) shares are trading higher premarket on Wednesday. The company disclosed its agreement to acquire<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41238870/zeta-global-to-acquire-liveintent-in-a-highly-accretive-transaction" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41238870/zeta-global-to-acquire-liveintent-in-a-highly-accretive-transaction" rel="noreferrer noopener">LiveIntent </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41238870/zeta-global-to-acquire-liveintent-in-a-highly-accretive-transaction" rel="noreferrer noopener">for a total of $250 million</a>.



LiveIntent&#8217;s assets, publisher network, and channel capabilities will strengthen the Zeta Marketing Platform and advance Zeta&#8217;s position in AI-powered marketing.



The company expects to pay $77.5 million in cash and $172.5 million in common stock at closing. The stock portion will be subject to a lockup and sale volume restrictions after its release.



The agreement includes a potential earnout of up to $25 million per year, split 50% cash and 50% stock, based on significant Adjusted EBITDA growth and sustained margin expansion in 2025, 2026, and 2027.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41048616/zeta-global-unveils-new-ai-tools-for-mobile-marketing-details" rel="noreferrer noopener">Zeta Global Unveils New AI Tools For Mobile Marketing: Details</a>



Additionally, Zeta will issue $25 million in Performance Stock Units to LiveIntent&#8217;s management team, contingent on meeting specific performance and retention targets during the same period.



The transaction is expected to close in the fourth quarter of 2024, pending customary closing conditions.



Zeta reaffirmed its third-quarter 2024 guidance of revenue of at least $255 million ($251.15 million&nbsp;estimate) and adjusted <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">EBITDA of at least $50.2 million</a>.



David A. Steinberg, Co-Founder, Chairman, and CEO of Zeta Global said, &#8220;As more brands view first party data as a corporate asset, seek to make AI actionable, and move towards a single platform that powers more efficient and effective marketing across the customer lifecycle, this acquisition accelerates Zeta&#8217;s flywheel and positions the combined company to continue to grow faster than the market.&#8221;



&#8220;This acquisition is immediately accretive to earnings and priced at a highly attractive Adjusted EBITDA multiple of ~16x. We already have interest from Zeta customers in our largest verticals for cross selling opportunities, and we believe these synergies can accelerate LiveIntent&#8217;s growth while continuing Zeta&#8217;s strong organic growth rates.&#8221;



As of June 30, the company held cash and cash <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40080660/zeta-accelerates-revenue-growth-and-achieves-the-rule-of-50-in-2q24" rel="noreferrer noopener">equivalents of $154.7 million</a>.



Investors can gain exposure to the stock via&nbsp;the Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and the Alpha Architect U.S. Quantitative Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMOM#NASDAQ">QMOM</a>).



Price Action: ZETA shares are up 4.27% at $33.20 premarket at the last check Wednesday.



Photo via Shutterstock



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QMOM

Zeta Global Expands Reach with $250M LiveIntent Acquisition, AI-Driven Growth Ahead

AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares are trading lower today. The company has filed a prospectus for the offer and sale of up to $<a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1780312/000119312524213750/d863504d424b5.htm" rel="noreferrer noopener">400</a> million Class A common stock from time to time.



The company entered into an Equity Distribution Agreement with B. Riley Securities, Barclays Capital, BofA Securities, Cantor Fitzgerald, Deutsche Bank Securities, Roth Capital, Scotia Capital (USA), and UBS Securities for the sale of Class A Common Stock.



On September 3, 2024, the last reported sale price on Nasdaq of its Class A Common Stock was $29.41 per share. Each agent will earn up to 3.0% of the gross sales price for shares sold as a sales agent under the sales agreement.



The company plans to use the net proceeds from the sale for general corporate purposes.



On Thursday, the company announced confirmation for a September 12 launch target for BlueBird Satellites&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40711501" rel="noreferrer noopener">from Cape Canaveral, Florida</a>.



The company expects to raise over&nbsp;$155 million&nbsp;from warrant redemptions, bringing its total cash to over&nbsp;$440 million&nbsp;on a pro forma basis as of June 30, 2024.



As of June-end, the company had pro forma cash, cash equivalents, and restricted cash&nbsp;of over&nbsp;$440.0 million, including over&nbsp;$155.0 million&nbsp;in expected warrant exchange proceeds.



Investors can gain exposure to the stock via&nbsp;Procure Space ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) and&nbsp;Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action: ASTS shares are down 13.6% at $28.59 at the last check Thursday.



Photo via Company



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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Offerings

ASTS

Why Is AST SpaceMobile Stock Plummeting On Thursday?

AST SpaceMobile, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NYSE">ASTS</a>) shares are trading higher after the company announced confirmation for a September 12 launch target for BlueBird Satellites <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40706575/ast-spacemobile-provides-interim-business-update-to-confirm-upcoming-orbital-launch-and-warrant-re" rel="noreferrer noopener">from Cape Canaveral, Florida</a>.



The company expects to raise over $155 million from warrant redemptions, bringing its total cash to over $440 million on a pro forma basis as of June 30, 2024.



The first five commercial satellites, known as BlueBirds, will be equipped with the largest commercial communications arrays ever deployed in low Earth orbit.



After launch, these satellites are expected to provide non-continuous cellular broadband service across the U.S. and select global markets.



The initial service will leverage premium low-band spectrum and support beta testing for AT&amp;T and Verizon, targeting nearly 100% nationwide coverage in the U.S. with over 5,600 coverage cells.



Abel Avellan, Founder, Chairman, and CEO of AST SpaceMobile, said, &#8220;As we shift our manufacturing focus to increase Block 2 production of the active payload systems and other components for the first 17 Block 2 satellites, we are excited to bring this revolutionary technology to the world.&#8221;



The company had earlier said that it is on track to launch&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40465033/ast-spacemobile-stock-pulls-back-whats-going-on" rel="noreferrer noopener">five satellites in early September 2024</a>.



As of June-end, the company had pro forma cash, cash equivalents, and restricted cash&nbsp;of over $440.0 million, including over $155.0 million in expected warrant exchange proceeds.



Last month, the company reported a second-quarter adjusted loss of 51 cents per share, missing&nbsp;analyst estimates&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40398813/whats-going-on-with-ast-spacemobile-stock-thursday" rel="noreferrer noopener">for a loss of 22 cents per share</a>.



Investors can gain exposure to the stock via&nbsp;Procure Space ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) and Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action: ASTS shares are up 10.4% at $32.46 at the last check Wednesday.



Photo via Company



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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Large Cap

Why Is AST SpaceMobile Stock Seeing Blue Skies Today?

AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares are trading higher on Friday. According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, ASTS stock has gained over 368% <a href="https://www.benzinga.com/news/24/07/39958682/ast-spacemobile-stock-is-moving-higher-thursday-whats-going-on" target="_blank" rel="noreferrer noopener">in the past year.</a>



Investors can gain exposure to the stock via&nbsp;the Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) and&nbsp;the Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



The company confirmed that it will hold a quarterly business update conference call on Wednesday,<a href="https://www.benzinga.com/pressreleases/24/07/b39972400/ast-spacemobile-to-provide-quarterly-business-update-on-august-14-2024" target="_blank" rel="noreferrer noopener"> August 14 at 5:00pm.</a>



Yesterday, the company said it completed its<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39954656/ast-spacemobile-announces-first-five-commercial-satellites-completed-final-assembly-and-ready-for-" rel="noreferrer noopener"> first five commercial satellites it calls Bluebirds.</a> The satellites are ready for shipment to Cape Canaveral during the first week of August, with a seven-day launch window in September.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39967728/walgreens-mulls-bond-sale-as-jpmorgan-gauges-investor-appetite-report" rel="noreferrer noopener">Walgreens Mulls Bond Sale As JPMorgan Gauges Investor Appetite: Report</a>



AST SpaceMobile noted that the Bluebird satellites have undergone rigorous testing to ensure they meet the demanding requirements of operations in space. The satellites are now in final preparations for shipment.



In a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39573453/ast-spacemobile-ceo-publishes-letter-to-partners-shareholders-and-future-space-based-cellular-broa" rel="noreferrer noopener">shareholder letter </a>on July 1, the company&#8217;s CEO Abel Avellan highlighted the company&#8217;s strategic partnership with Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>).



&#8220;The recent announcement of a strategic partnership with Verizon is another leap forward for AST SpaceMobile,&#8221; the CEO said.



&#8220;It builds upon the momentum of our earlier flagship commercial agreement with AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), not only by securing additional capital in the form of prepayments and convertible notes, but more importantly, by accelerating our mission to eliminate connectivity gaps across the United States,&#8221; Avellan added.



Price Action: ASTS shares are trading higher by 11.1% to $18.50 at last check Friday.



Photo via Company



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</ul>

What's Going On With AST SpaceMobile Stock Today?

Michael Dell, CEO of Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), is set to sell 10 million shares valued at approximately $1.3 billion, as <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1571996/000195824424002780/xsl144X01/primary_doc.xml" rel="noreferrer noopener">revealed </a>in a recent regulatory filing dated June 6.



This year could mark a record in Michael Dell&#8217;s selling history, surpassing the total from 1999 during the peak of the internet bubble.



This follows an earlier transaction where the billionaire and the Michael &amp; Susan Dell Foundation sold shares worth $1.6 billion, positioning 2024 as potentially his most significant year of stock liquidation, according to a report from <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-11/fake-family-offices-are-a-new-problem-for-asia-s-billionaire-investors?srnd=homepage-europe&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.



The year 1999 saw Michael Dell selling $1.7 billion in stock, just before the burst of the internet bubble. These planned sales will still leave him with nearly half ownership of Dell Technologies, anchoring his $108 billion fortune as per the Bloomberg Billionaires Index.



Dell, who ranks as the 12th richest person globally per the report, established Dell Technologies in 1984 while attending the University of Texas at Austin.



Related Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39233957/nvidias-ai-chip-the-product-propelling-its-success" rel="noreferrer noopener">Nvidia&#8217;s AI Chip &#8211; The Product Propelling Its Success</a>



The company has significantly benefited from the recent AI boom, bolstering demand for infrastructure to support advanced processors from companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).



Dell&#8217;s fortune reached a milestone in March as his net worth exceeded $100 billion, thanks to soaring stock values.



However, after <a target="_blank" href="https://www.benzinga.com/news/24/05/39118013/dell-technologies-shares-dip-despite-beating-q1-expectations-what-you-need-to-know" rel="noreferrer noopener">disappointing earnings reported in May</a>, the company&#8217;s shares took a significant hit, reportedly marking the largest single-day drop in Michael Dell&#8217;s wealth on record.



Dell stock has gained more than 175% in the last 12 months. Investors can gain exposure to the stock via Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and First Trust Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYY#NASDAQ">SKYY</a>).



Price Action: DELL shares are trading lower by 0.61% at $131.64 at the last check Wednesday.



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



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Dell Technologies CEO Cashes In: Michael Dell To Sell 10M Shares Amid AI Boom

Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares are trading higher as AI-related stocks gained in sympathy <a href="https://www.benzinga.com/news/24/05/38931326/nvidia-ceo-jensen-huang-sees-dell-partnership-as-key-to-wider-ai-adoption-its-not-about-just-deliver">with partner</a> Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).



Meanwhile, Dell and&nbsp;Ericsson&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>)&nbsp;<a href="https://www.benzinga.com/pressreleases/24/05/n38982108/dell-technologies-and-ericsson-form-strategic-partnership-to-accelerate-telecom-network-cloud-tran" target="_blank" rel="noreferrer noopener">collaborated to combine</a>&nbsp;their industry expertise with telecom software, solutions, and support, guiding communications service providers (CSPs) through their radio access network (RAN) cloud transformation journeys.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23092610/newplot-22.png" alt="" class="wp-image-352630" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23092610/newplot-22.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23092610/newplot-22-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>



CSPs aim for network cloud and operations transformation to improve economics and agility while maintaining network reliability.&nbsp;



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37932079/dell-trims-workforce-and-projects-pc-growth-amid-revenue-challenges-and-vmware-changes" rel="noreferrer noopener">Dell Trims Workforce and Projects PC Growth Amid Revenue Challenges and VMware Changes</a>



In 2023, Ericsson and Dell Technologies partnered to develop Cloud RAN solutions, leveraging Ericsson Cloud RAN software and RAN equipment paired with Dell Technologies infrastructure.



Dell and Ericsson&#8217;s partnership aims to address time, budget, reliability, and security concerns during network transformation.



Analysts named Dell the&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38852211/why-dell-technologies-stock-is-moving-higher-today" rel="noreferrer noopener">top pick to</a>&nbsp;tap the growing AI server momentum, inflecting storage demand and an improving PC market. They also flagged repeat purchase orders from Dell&#8217;s existing customer base, and a critical competitive AI server win from&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



In March, Dell reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37408107/dell-reports-better-than-expected-q4-results-driven-by-ai-server-demand" rel="noreferrer noopener">fiscal fourth-quarter sales</a>&nbsp;of $22.3 billion, beating the analyst consensus estimate of $22.16 billion, reflecting increasing demand for its AI servers. The company reported EPS of $2.20 per share, which beat the analyst consensus estimate of $1.73.&nbsp; It announced a 20% boost in annual cash dividend to $1.78 per share.



Dell stock gained 219% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco Dorsey Wright Technology Momentum ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) and&nbsp;First Trust Bloomberg Shareholder Yield ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHRY#NASDAQ">SHRY</a>).



Price Action: DELL shares are trading higher by 6.77% to $157.80 premarket at last check Thursday.



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What's Going On With Dell Stock On Thursday?

Dell Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares are trading higher on Friday. The company said it is using AI to innovate and strengthen patient care to deliver significant advancements in medicine,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38109299/dell-technologies-and-northwestern-medicine-to-advance-patient-care-through-ai-innovation" rel="noreferrer noopener">along with Northwestern Medicine</a>.



The parties are also focusing on developing and evaluating a generative multimodal large language model (LLM) to interpret chest x-rays.



Due to restricted technology capabilities, Northwestern Medicine faced challenges in advancing healthcare promptly, according to a press release.&nbsp;



By collaborating with Dell&#8217;s AI Innovation Lab, they designed and tested workflow solutions before implementing them, reaching a significant milestone: a multimodal LLM generating draft x-ray reports to assist physicians in decision-making.



The platform is built within Northwestern Medicine&#8217;s existing secure colocation infrastructure, giving Northwestern confidence to move forward rapidly with AI initiatives that innovate patient care.



&#8220;Healthcare is a prime example of where technology can make an impact and help save lives,&#8221; said Jeff Boudreau, chief AI officer at Dell Technologies.&nbsp;



Dell&#8217;s infrastructure in the development includes Dell PowerEdge XE9680 servers with 8 NVIDIA H100 Tensor Core GPUs, NVIDIA Quantum-2 InfiniBand networking, Dell PowerScale, Dell PowerFlex, Dell PowerMax, and Dell VxRail.



&#8220;By combining Dell&#8217;s technology with Northwestern Medicine&#8217;s expertise, we&#8217;re setting a new standard for AI-driven healthcare solutions,&#8221; Boudreau added.



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, DELL stock has gained over 200% in the past year. Investors can gain exposure to the stock via&nbsp;Affinity World Leaders Equity ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/WLDR#BATS">WLDR</a>) and&nbsp;Elevation Series Trust SRH U.S. Quality ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action: DELL shares are trading higher by 1.13% to $128.60 on the last check Friday. 



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WLDR

What's Going On With Dell Technologies Shares Today?

Dell Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) has implemented workforce reductions as part of its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/02/30723824/dell-to-let-go-of-6-650-jobs-as-uncertainties-dented-its-business-report" rel="noreferrer noopener">comprehensive cost-cutting strategy</a>, which also encompasses constraints on external hiring and internal employee reorganizations.&nbsp;



As of February 2, 2024, Dell&#8217;s workforce has decreased to nearly&nbsp;<a target="_blank" href="https://investors.delltechnologies.com/financial-information/sec-filings" rel="noreferrer noopener">120,000</a>&nbsp;employees from about 126,000 the previous year, reflecting these changes.&nbsp;



This decision follows a declining demand for personal computers, which has lasted nearly two years and contributed to an 11% decrease in the company&#8217;s revenue in&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37408107/dell-reports-better-than-expected-q4-results-driven-by-ai-server-demand" rel="noreferrer noopener">the fourth quarter</a>&nbsp;of the previous fiscal year.



Despite experiencing a 12% drop in revenue in its client solutions group, which includes its PC division, during the fourth quarter, Dell remains optimistic. The company anticipates overall growth in this segment for the entire year.&nbsp;



Dell acknowledges that it is facing short-term challenges but expects an improvement in demand and a more competitive pricing environment in the fiscal year 2025, Reuters reports.



Nonetheless, Dell foresees a rise in input costs and anticipates a continued decline in net revenue from its other business segments due to alterations in its commercial relationship with VMware.



In the backdrop of adjusting to market demands and potential economic downturns, Dell had previously reduced its workforce by 6,650 positions in 2023. U.S. Big Tech companies have been on a downsizing spree, citing lackluster demand and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/36020949/big-tech-prioritize-cost-control-and-ai-scaling-back-workforce-despite-business-growth" rel="noreferrer noopener">an upturn in AI investment</a>.



In 2023,&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google announced it would cut 12,000 jobs, affecting about 6% of its full-time staff.&nbsp;



Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been reducing its workforce since November 2022, planning to cut 21,000 positions, nearly a quarter of its employees.



In January,&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) disclosed plans to trim its workforce by approximately 10,000 roles, representing 4% &#8211; 5% of its total employees.&nbsp;Amazon.Com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) set a record for the largest layoff in 2023 by cutting 27,000 jobs. Compared to about 6,000 the previous year, the sector saw 141,516 job cuts in the year&#8217;s first half.



Dell stock gained 198% in the last 12 months. Investors can gain exposure to the stock via Elevation Series Trust SRH U.S. Quality ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRHQ#NYSE">SRHQ</a>) and Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>).



Price Action:&nbsp;DELL shares traded higher by 1.33% to $114.50 premarket on the last check Tuesday.&nbsp;



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo via Shutterstock

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Dell Trims Workforce and Projects PC Growth Amid Revenue Challenges and VMware Changes

Launched on 10/12/2006, the Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTF#NASDAQ">PTF</a>) is a passively managed exchange traded fund designed to provide a broad exposure to the Technology - Broad segment of the equity market.

Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.

Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 5, placing it in top 31%.

Index Details

The fund is sponsored by Invesco. It has amassed assets over $399.14 million, making it one of the average sized ETFs attempting to match the performance of the Technology - Broad segment of the equity market. PTF seeks to match the performance of the DWA Technology Technical Leaders Index before fees and expenses.

The Dorsey Wright?? Technology Technical Leaders Index identifies companies that are showing relative strength and are composed of at least 30 common stocks from a universe of approximately 3,000 common stocks traded on US exchanges.

Costs

Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF&#39;s expense ratio.

Annual operating expenses for this ETF are 0.60%, making it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 0.06%.

Sector Exposure and Top Holdings

It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation in the Information Technology sector--about 92.10% of the portfolio.

Looking at individual holdings, Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) accounts for about 6.03% of total assets, followed by Affirm Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) and Cadence Design Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>).

The top 10 holdings account for about 43.25% of total assets under management.

Performance and Risk

So far this year, PTF has gained about 13.70%, and is up roughly 37.54% in the last one year (as of 03/25/2024). During this past 52-week period, the fund has traded between $39.60 and $58.02.

The ETF has a beta of 1.24 and standard deviation of 32.84% for the trailing three-year period, making it a high risk choice in the space. With about 34 holdings, it has more concentrated exposure than peers.

Alternatives

Invesco Dorsey Wright Technology Momentum ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, PTF is an excellent option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.

Technology Select Sector SPDR ETF (ETF:XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $65.23 billion in assets, Vanguard Information Technology ETF has $65.97 billion. XLK has an expense ratio of 0.09% and VGT charges 0.10%.

<a href="https://www.zacks.com/stock/news/2245294/should-you-invest-in-the-invesco-dorsey-wright-technology-momentum-etf-ptf?cid=CS-BENZ-FT-sector_etf-2245294">To read this article on Zacks.com click here.</a>&nbsp;

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Should You Invest in the Invesco Dorsey Wright Technology Momentum ETF (PTF)?

The<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/04/9295487/finding-value-with-value-etfs"> value factor</a> is again receiving increased attention, but it was not particularly exhilarating for investors in the first quarter of 2017. And with volatility relatively benign, the low volatility and quality factors did not set the investment world ablaze in the first three months of the year.
As has been widely documented, U.S. small-cap equities and exchange-traded funds have been struggling to start this year, so the size factor was<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/04/9290540/trying-to-find-hope-for-small-cap-etfs"> something of a first-quarter dud </a>as well.
<h3>First-Quarter Success</h3>
The factors that really worked in the first quarter include growth and momentum.
&ldquo;Conversely, the growth and momentum factors rebounded from a poor performance in the fourth quarter of 2016. The Russell Top 200 Pure Growth Index benefited from limited exposure to energy and financials, as well as its holdings in well-performing consumer discretionary stocks,&rdquo; said PowerShares <a href="https://www.blog.invesco.us.com/examining-factor-performance-first-quarter-2017/">in a recent note</a>.
ETFs rooted in momentum strategies, such as the PowerShares DWA Tactical Sector Rotation Portfolio (NASDAQ:<a class="ticker" href="/stock/DWTR#NASDAQ">DWTR</a>), are still looking for firmer footing. DWTR is down 1.7 percent year-to-date. DWTR tracks the Dorsey Wright Sector 4 Index, which &quot;is designed to gain exposure to the strongest relative strength sectors in the US through the universe of nine PowerShares DWA sector Momentum ETFs,&quot; <a href="https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=DWTR">according to PowerShares</a>.
<h3>More On Momentum</h3>
&ldquo;Momentum stocks underperformed last quarter, but experienced some mean reversion over the past few months,&rdquo; said PowerShares. &ldquo;Why? The macro backdrop of continued economic growth and limited volatility may have created a favorable environment for momentum stocks by allowing investors to focus on company fundamentals and longer-term trends. Momentum stocks also benefited from low correlation among stocks. (Low stock correlation is often a sign that equity investors are focused more on individual company fundamentals than market conditions. This scenario typically benefits the momentum factor, which needs dispersion in returns and stable market leadership for success.)&rdquo;
<h3>What's In DWTR?</h3>
The four PowerShares sector ETFs held by DWTR are the PowerShares DWA Industrials Momentum Portfolio (ETF) (NASDAQ:<a class="ticker" href="/stock/PRN#NASDAQ">PRN</a>), PowerShares DWA Technology Momentum Portfolio (NASDAQ:<a class="ticker" href="/stock/PTF#NASDAQ">PTF</a>), PowerShares DWA Financial Portfolio (NASDAQ:<a class="ticker" href="/stock/PFI#NASDAQ">PFI</a>) and the PowerShares DWA Utilities Momentum Portfolio (NASDAQ:<a class="ticker" href="/stock/PUI#NASDAQ">PUI</a>).
The market capitalization composition of those ETFs means DWTR is far from a large-cap ETF. In fact, over three-quarters of the ETF&#39;s weight is allocated to mid- and small-cap stocks via the aforementioned quartet of sector funds.
DWTR has trailed the Russell 3000 Index since coming to market in the fourth quarter of 2015, according to issuer data.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/04/9295487/finding-value-with-value-etfs">Finding Value With Value ETFs</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/04/9295476/2-new-active-etfs-with-unique-spins-on-risk-management">2 New Active ETFs With Unique Spins On Risk Management</a>

Long Ideas

Sector ETFs

Broad U.S. Equity ETFs

Specialty ETFs

DWTR

2 Factors That Worked In The First Quarter

Throughout 2015, investors have heard plenty about the momentum factor outperforming its value counterpart. Exchange-traded funds easily prove as much. For example, the $947.7 million iShares MSCI USA Momentum Factor ETF (iShares Trust (NYSE: <a class="ticker" href="/stock/mtum#NYSE">MTUM</a>)) is up nearly 6 percent, while the S&amp;P 500 is higher by just 0.8 percent year-to-date.
Logically speaking, it is not surprising that the momentum factor&#39;s out-performance of other investment factors extends to the sector level. At least four of this year&#39;s top 10 non-leveraged sector ETFs can be considered momentum funds, and six of the nine PowerShares sector ETFs that follow momentum-based Dorsey Wright indices are outperforming their cap-weighted counterparts, according to <a href="http://alletf.com/">Dorsey Wright</a> data.
<h3>Outperformance: A Closer Look At PSL</h3>
That includes the PowerShares Dynamic Consumer Sta. (ETF) (NYSE: <a class="ticker" href="/stock/psl#NYSE">PSL</a>). PSL, this year&#39;s top-performing consumer staples ETF, is up nearly 12 percent on the year. Last year, PowerShares, the fourth-largest U.S. ETF sponsor, transitioned 10 ETFs, including nine sector funds, to Dorsey Wright <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/09/5859881/bringing-some-excitement-to-consumer-staples-etfs">momentum benchmarks</a>.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5902268/the-final-four-new-etf-focuses-on-four-momentum-funds">The Final Four: New ETF Focuses On Four Momentum Funds</a></bzrelatedlink>
Many cap-weighted sector funds are relegated to holding only large caps, perhaps with sprinkles of mid and small caps, but the PowerShares sector funds can include all three cap spectrums.
	&ldquo;Also, keep in mind that the number of stocks in each momentum sector ETF can range from approximately 30-75. When small caps have better relative strength we will tend to have more holdings and when large caps are in favor we will tend to have fewer holdings,&rdquo;<a href="http://seekingalpha.com/article/3587696-q4-sector-momentum-composition"> noted Dorsey Wright</a>.
<h3>Outperforming Peers</h3>
In addition to PSL, other examples of out-performing PowerShares sector funds include the PowerShares Dynamic Tech Sec (ETF) (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>) and the PowerShares Dynamic Finl Sec Fnd (ETF) (NYSE: <a class="ticker" href="/stock/pfi#NYSE">PFI</a>).
Though PTF, the technology fund, features exposure to some of that sector&#39;s most familiar large caps, the ETF allocates just 19.2 percent of its weight to large stocks.
<h3>Gaining Exposure</h3>
A solution exists for investors looking to gain access to multiple momentum-based sector ETFs under one umbrella. The PowerShares DWA Tactical Sector Rotation Portfolio (NASDAQ: <a class="ticker" href="/stock/dwtr#NASDAQ">DWTR</a>), which debuted earlier this month, is an ETF of ETFs that holds the four PowerShares sector ETFs tracking DWA indices currently displaying the <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5902268/the-final-four-new-etf-focuses-on-four-momentum-funds">best relative strength characteristics</a>.
The aforementioned PSL and PTF combine for nearly half of DWTR&#39;s weight. Advisors and investors have quickly warmed to DWTR&#39;s story as the ETF is just two weeks with $30.7 million in assets under management.
Image Credit: <a href="https://pixabay.com/en/spherical-ball-joint-newton-pendulum-746194/">Public Domain</a>

New ETFs

Intraday Update

MTUM

Momentum Is Working At The Sector Level

The momentum factor has delivered surprising out-performance of its value rival this year, and there is no shortage of momentum-based exchange-traded funds investors can use to exploit that trend.
Also, there is a new kid on the block worth considering.
<h3>New ETF</h3>
	The PowerShares DWA Tactical Sector Rotation Portfolio (NASDAQ: DWTR) debuted Friday, becoming the latest in a long line of PowerShares ETFs backed by Dorsey Wright&#39;s widely followed, momentum-based methodology.
 Illinois-based PowerShares is a unit of Invesco Ltd. (NYSE: <a class="ticker" href="/stock/ivz#NYSE">IVZ</a>), and is the fourth-largest U.S. ETF issuer.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5900689/long-term-investors-should-get-to-know-this-equal-weight-etf">Long-Term Investors Should Get To Know This Equal-Weight ETF</a></bzrelatedlink>

	DWTR tracks the Dorsey Wright Sector 4 Index, which &ldquo;is designed to gain exposure to the strongest relative strength sectors in the US through the universe of nine PowerShares DWA sector Momentum ETFs,&rdquo; <a href="https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=DWTR">according to PowerShares</a>.

	In plain English, that means DWTR is an ETF of ETFs, and the funds held by the new ETF are other PowerShares ETFs that follow Dorsey Wright indices.
<h3>DWTR's ETFs</h3>
 The four ETFs currently held by DWTR range in weight from 21.4 percent to almost 27.9 percent. DWTR&#39;s holdings are as follows: The PowerShares Dynamic Consumer Sta. (ETF) (NYSE: <a class="ticker" href="/stock/psl#NYSE">PSL</a>), PowerShares Dynamic Consumer Disc. (ETF) (NYSE: <a class="ticker" href="/stock/pez#NYSE">PEZ</a>), PowerShares Dynamic Healthcare Sec (ETF) (NYSE: <a class="ticker" href="/stock/pth#NYSE">PTH</a>) and the PowerShares Dynamic Tech Sec (ETF) (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>).

	Last year, PowerShares transitioned nine sector ETFs to Dorsey Wright momentum indices, including the four aforementioned ETFs that comprise the new DWTR&#39;s lineup.

	As one example, PSL, <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/09/5859881/bringing-some-excitement-to-consumer-staples-etfs">2015&#39;s top-performing consumer staples ETF</a>, follows the Dorsey Wright Consumer Staples Technical Leaders Index, a benchmark that &ldquo;is designed to identify companies that are showing relative strength (momentum), and is composed of at least 30 common stocks from the NASDAQ US Benchmark Index,&rdquo; <a href="https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=PSL">according to PowerShares</a>.
<h3>PowerShares And Dorsey Wright Indices</h3>
The nine PowerShares sector ETFs that follow Dorsey Wright indices make up the universe from which DWTR&#39;s holdings can come from.
&ldquo;The Index contains a cash element to maximize the impact of the momentum factor. The Index holds only the four strongest of the nine sectors based on relative strength indicators, while the portfolios underlying the sectors implement a methodology that weights constituents based upon price momentum instead of traditional market capitalization. Momentum investing may include securities which are more volatile than the market as a whole, and can produce returns less than other investment style,&rdquo; according to PowerShares.
DWTR&#39;s index evaluates sector rankings monthly. If a sector falls out of the top four, it is sold and replaced by the highest-ranking sector not currently in the index. The new ETF came to market well-heeled with $25 million in assets. DWTR charges 0.75 percent per year, or $75 for every $10,000 invested.
Image Credit: <a href="https://pixabay.com/en/spherical-ball-joint-newton-pendulum-746194/">Public Domain</a>

The Final Four: New ETF Focuses On Four Momentum Funds

The hotly-anticipated initial public offering of GoPro (NASDAQ: <a class="ticker" href="/stock/gpro#NASDAQ">GPRO</a>) this week is one of the largest consumer electronics debuts of the decade.

	Shares surged more than 30 percent on Thursday from its IPO opening price of $24 per share, as the company raised $427 million in cash.

	The initial success of GoPro may soon pave the way for entry into a number of exchange-traded funds in the near future as well.

	The most likely ETF to get the first shot at adding this high definition video maker is the Renaissance IPO ETF (NYSE: <a class="ticker" href="/stock/ipo#NYSE">IPO</a>). This fund allows new publicly-traded companies to be added to its index on the fifth day of trading, and subsequently removes any stocks that have more than two years of history.&nbsp;

	Related: <a href="http://www.benzinga.com/etfs/specialty-etfs/14/06/4660767/3-overseas-income-etfs-to-boost-your-portfolio-yield" title="3 Overseas Income ETFs To Boost Your Portfolio Yield ">3 Overseas Income ETFs To Boost Your Portfolio Yield</a>

	It also allows for a <a href="http://www.benzinga.com/news/14/04/4484431/ipo-etfs-seek-to-capture-new-listings-and-top-performers">speedy adoption of new companies</a> with the diversification qualities inherent in every ETF. IPO currently has exposure to 66 stocks of liquid and economically significant companies, with an expense ratio of 0.60 percent.

	A similar ETF that focuses on initial public offerings is the First Trust US IPO Index Fund (NYSE: <a class="ticker" href="/stock/fpx#NYSE">FPX</a>). This fund screens the top 100 largest and best performing companies in the IPOX Global Composite Index.&nbsp;

	If GoPro continues to build upon the initial positive momentum from its debut, in addition to attracting suitable volume, it could also, eventually, find its way into FPX down the road.&nbsp;

	Another suitable home for this technology stock would be the iShares North American Tech ETF (NYSE: <a class="ticker" href="/stock/igm#NYSE">IGM</a>). This fund provides specific exposure to 267 domestic electronics, software and hardware companies. Because GoPro is a technology-based company and headquartered in San Mateo, California, it could certainly qualify for this regional index.&nbsp;

	Lastly, the PowerShares DWA Technology Momentum Portfolio (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>) should be considered as a potential suitor for GoPro.This ETF is constructed of nearly 50 holdings in primarily small and mid-cap technology companies that are exhibiting the best relative strength of their peers. That criterion certainly fits the first impressions from this new offering, and it may be considered a good fit for PTF in the future.&nbsp;

	While it could take several months before these ETFs adopt a new entrant into their ranks, it certainly bears keeping an eye on these technology indexes as they change over time.

GPRO

4 ETFs That May Include GoPro

ETF Outlook for Wednesday, June 18, 2014:

	First Trust NASDAQ Clean Edge Green Energy Index ETF (NYSE: <a class="ticker" href="/stock/qcln#NYSE">QCLN</a>)

	Recent strength in the solar stocks combined with a big rally in shares of Tesla Motors (NASDAQ: <a class="ticker" href="/stock/tsla#NASDAQ">TSLA</a>) has QCLN at the best level in months. The ETF finished yesterday with a gain of 3.4 percent and it is now up 15 percent in the last month.

	With four pure play solar stocks in the top 10 holdings making up nearly a quarter of the portfolio, the ETF will tend to move with the niche energy sector. The other stock that tends to move QCLN is Tesla, which is the number three holding with an allocation of 7.6 percent.

	The ETF appears to be on pace to retest the high of $22.00 in the coming weeks.

	Rydex CurrencyShares Euro ETF (NYSE: <a class="ticker" href="/stock/fxe#NYSE">FXE</a>)

	The move last week by the ECB has held down the euro versus the U.S. dollar and FXE has struggled to hold onto its multi-month low at the $133.50 area.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/14/06/4640347/semiconductor-etfs-are-this-years-technology-titans">Semiconductor ETFs Are This Year&#39;s Technology Titans</a></bzrelatedlink>

	If the ETF were to close below $133.55 it would signal the lowest closing price since last November and could spur on more technical-based selling. Today could be the day that happens as the FOMC wraps up its two-day meeting with a Janet Yellen press conference.

	iShares Dow Jones US Broker-Dealers Index ETF (NYSE: <a class="ticker" href="/stock/iai#NYSE">IAI</a>)

	One of the top performing sector ETFs on Tuesday, IAI closed up the day at 2.3 percent and broke out of a very bullish ascending triangle pattern. The move was led by big gains in its top holdings that include Goldman Sachs (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>),&nbsp;Morgan Stanley (NYSE: <a class="ticker" href="/stock/ms#NYSE">MS</a>)&nbsp;and&nbsp;Charles Schwab (NASDAQ: <a class="ticker" href="/stock/schw#NASDAQ">SCHW</a>).

	All of the top ten holdings gained at least one percent as money began to flow back into the sector. As volatility and trading volumes have dropped it has been a difficult time for the sector, but yesterday&rsquo;s breakout was a significant move.

	PowerShares DWA Technology Momentum ETF (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>)

	News out yesterday that Oracle (NASDAQ: <a class="ticker" href="/stock/orcl#NASDAQ">ORCL</a>) was going to make a bid for Micros Systems (NASDAQ: <a class="ticker" href="/stock/mcrs#NASDAQ">MCRS</a>) sent shares of PTF higher by 2.2 percent. MCRS is the ETF&rsquo;s largest holding with a weighting of 6.5 percent.

	The second largest holding is SunEdison (NASDAQ: <a class="ticker" href="/stock/sune#NASDAQ">SUNE</a>), a solar stock that was up another three percent on Tuesday. The portfolio of 48 mainly small-cap and mid-cap stocks struggled during the pullback of high beta stocks, but has been stronger than ever the last few weeks.

Currency ETFs

Previews

Pre-Market Outlook

MCRS

ORCL

QCLN

SCHW

SUNE

ETF Outlook For Wednesday, June 18, 2014 (QCLN, FXE, IAI, PTF)

On the surface, it would appear to be a disappointing year for technology sector ETFs. The Technology Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>) is up a mere 9.9 percent year-to-date, a performance that trails the SPDR S&amp;P 500 (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) by 670 basis points.

	Of the nine sector SPDRs ETFs, XLK ranks seventh on a year-to-date basis and is being kept out of the last place by the Materials Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlb#NYSE">XLB</a>) and the Utilities Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlu#NYSE">XLU</a>), the latter of which <a href="http://www.benzinga.com/markets/bonds/13/09/3883009/rising-rates-could-make-these-etfs-betray-seasonal-trends">has wilted in the face of rising interest rates</a>.

	What is disappointing about the performance of the cap-weighted, large cap-focused XLK is that when stripping out AT&amp;T (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) and Verizon (NYSE: <a class="ticker" href="/stock/vz#NYSE">VZ</a>) to focus on the pure tech names among the ETF&#39;s top-10 holdings, five of the remaining eight names have traded higher this year. In fact, XLK is not even the best U.S. technology sector ETF issued by State Street Global Advisors. That honor goes to the SPDR Morgan Stanley Technology ETF (NYSE: <a class="ticker" href="/stock/mtk#NYSE">MTK</a>), which has returned 15.3 percent this year with some help from Facebook (NASDAQ: <a class="ticker" href="/stock/fb#NASDAQ">FB</a>) and Priceline.com (NASDAQ: <a class="ticker" href="/stock/pcln#NASDAQ">PCLN</a>).

	Related: <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/07/3749849/the-race-to-1-000-etf-youve-never-heard-of">The Race To $1,000 ETF You&#39;ve Never Heard Of</a>.

	Still, it is possible to find market-beating U.S.-focused tech ETFs. Even when excluding the PowerShares S&amp;P SmallCap Information Technology Portfolio (NASDAQ: <a class="ticker" href="/stock/psct#NASDAQ">PSCT</a>), has been <a href="http://www.benzinga.com/analyst-ratings/analyst-color/13/08/3855714/small-cap-tech-etf-merits-consideration">a stellar performer in its own right</a>, investors could have done this year with tech ETFs this year.

	The right tech ETFs that is. Some of this year&#39;s top tech ETFs share an important trait in common. These funds offer investors exposure to the increasingly prominent theme of <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/05/3587943/two-top-ideas-among-fundamentally-weighted-etfs">fundamental weighting methodologies</a>.

	Take the PowerShares Dynamic Technology Sector Portfolio (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>) as one example. PTF is weighted by factors including rice momentum, earnings momentum, quality, management action, and value. None of the ETF&#39;s 61 holdings account for more than 2.82 percent of the fund&#39;s weight. Apple (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>) is not a member of PTF&#39;s lineup, which is a good thing given that the stock has traded lower this year.

	However, PTF has gained 14.4 percent this year while also excluding Google (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) and Microsoft (NASDAQ: <a class="ticker" href="/stock/msft#NASDAQ">MSFT</a>), just to name a pair of large-cap tech stocks that have performed well in 2013.

	Speaking of Apple, well-documented has been the stock&#39;s impact on various ETFs and how funds with excessive to the stock are vulnerable when Apple falls. Equal-weight ETFs <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/04/2473809/blasphemy-equal-weight-apple-aapl-qqqe-ryt">avoid that conundrum</a>.

	The First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ: <a class="ticker" href="/stock/qtec#NASDAQ">QTEC</a>) and the Guggenheim S&amp;P 500 Equal Weight Technology ETF (NYSE: <a class="ticker" href="/stock/ryt#NYSE">RYT</a>) are up an average of 20.5 percent this year. Both funds feature scant allocations to Apple, but the same goes for their exposure to Google. RYT actually has a slightly larger weight to Yahoo (NASDAQ: <a class="ticker" href="/stock/yhoo#NASDAQ">YHOO</a>) than it does Google. RYT is up 21.6 this year, meaning it has topped Google by 260 basis points.

	The First Trust Technology AlphaDEX Fund (NYSE: <a class="ticker" href="/stock/fxl#NYSE">FXL</a>) <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/01/3284663/under-the-hood-a-better-way-to-tech">also eschews cap-weighting</a> in favor of a mix of growth and value factors, including price appreciation, sales to price and one year sales growth, book value to price, cash flow to price and return on assets.

	Apple happens to be FXL&#39;s largest holding at 2.3 percent of the fund&#39;s weight. The 1.35 percent allocation to Google is well below the weights given to 3D Systems (NYSE: <a class="ticker" href="/stock/ddd#NYSE">DDD</a>), Groupon (NASDAQ: <a class="ticker" href="/stock/grpn#NASDAQ">GRPN</a>) and Yahoo, just to name a few. The result is an ETF up 19.6 this year.

	Another thing these ETFs share in common is not none are particularly large, though three have over $100 million in assets under management. Combined, PTF, QTEC, RYT and FXL have about $707 million in AUM compared to $11.3 billion for XLK.

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

	Disclosure: Author does not own any of the securities mentioned here.

Short Ideas

GRPN

PCLN

PSCT

QTEC

YHOO

An Interesting Year For Tech ETFs

One of the most memorable lines from &quot;The Godfather&quot; is &quot;Leave the gun. Take the cannoli.&quot; In the midst of what has been a dour year for ETFs tracking China, good advice would be &quot;Leave the banks. Take the tech.&quot;

	The June spike in China&#39;s interbank lending rate, the SHIBOR rate, reminded investors that ETFs, China funds or otherwise, that are heavily exposed <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/06/3693867/emperors-with-no-clothes-a-banking-crisis-will-expose-china-e">to one sector</a> are vulnerable when problems arise for that sector.

	Year-to-date, the iShares FTSE China 25 ETF (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>), the iShares MSCI China ETF (NYSE: <a class="ticker" href="/stock/mchi#NYSE">MCHI</a>) and the SPDR S&amp;P China ETF (NYSE: <a class="ticker" href="/stock/gxc#NYSE">GXC</a>) are down an average of about 12.8 percent. The average weight to the financials service sector within those ETFs is over 41 percent.

	However, investors that have passed on banks in favor of heavy allocations to <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/05/3592984/china-etfs-are-on-fire">Chinese technology stocks</a> have been rewarded in significant fashion. In mid-May, we highlighted the Guggenheim China Technology ETF (NYSE: <a class="ticker" href="/stock/cqqq#NYSE">CQQQ</a>) as a pure play on Chinese tech and Internet stocks. The ETF is up nearly 3.7 percent since then while FXI is sitting on a double-digit loss.

	RELATED: <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/06/3694076/last-ditch-effort-to-be-long-china-with-these-etfs">Last Ditch Effort to be Long China With These ETFs</a>

	Investors CQQQ is one of just three, by our count, non-leveraged China ETFs to gain at least 15 percent this year. One of the other two is the PowerShares Golden Dragon China Portfolio (NYSE: <a class="ticker" href="/stock/pgj#NYSE">PGJ</a>). At almost nine years old, PGJ is an elder statesman of the China ETF club, but with $197.6 million in assets under management, it would need to be multiplied by 50 to catch FXI in terms of investors&#39; affection.

	FXI is the most heavily traded China ETF and that, in part, explains its popularity. However, that proves what a terrible metric volume is in terms of evaluating an ETF&#39;s potential for delivering impressive returns. It <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/10/2990830/china-conundrum-resisting-fxis-temptation">has been noted</a> that FXI has a legacy of underperforming other China ETFs. Some, such as MCHI, even come from the iShares family.

	This year, PGJ is taking its turn thumping FXI and the reasons are clear: A 53.2 percent weight to tech and a 2.5 percent weight to financials. So PGJ is not the all-in bet on China tech and Internet stocks that CQQQ is, but consumer discretionary at 16.5 percent is the only other sector to receive a double-digit allocation in the ETF.

	Seven of the ETF&#39;s top-10 holdings are tech/Internet names, including Baidu (NASDAQ: <a class="ticker" href="/stock/bidu#NASDAQ">BIDU</a>), Ctrip (NASDAQ: <a class="ticker" href="/stock/ctrp#NASDAQ">CTRP</a>), Sina (NASDAQ: <a class="ticker" href="/stock/sina#NASDAQ">SINA</a>) and Sohu.com (NASDAQ: <a class="ticker" href="/stock/sohu#NASDAQ">SOHU</a>). Increased mergers and acquisitions activity, <a href="http://www.etftrends.com/2013/07/tech-etfs-best-of-the-china-bunch/">both real deals and rumors</a> have been a recent catalyst for Chinese Internet names.

	Here is another fun fact about PGJ: It is one of the few ETFs with any noticeable exposure to Ctrip, the Priceline (NASDAQ: <a class="ticker" href="/stock/pcln#NASDAQ">PCLN</a>) of China. Priceline is up 31.6 percent in the past 90 days. Usually, 31.6 percent in 90 days is great, but it is quite mediocre compared to the 69.3 percent returned by Ctrip.

	So what is the rub with PGJ? At a time when everyone and his sister is saying <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/10/2975987/believe-china-is-cheap-try-these-etfs">Chinese stocks are cheap</a>, PGJ is not. FXI&#39;s P/E ratio is 12.7, a significant discount to the broader emerging markets universe. PGJ&#39;s P/E is nearly 26.5.

	Then again, the returns show expensive has been better than cheap when it comes to China ETFs this year. The average return on equity, a critical measure of company&#39;s profitability, for PGJ&#39;s 65 holdings is 13.8 percent, <a href="http://www.invescopowershares.com/products/overview.aspx?ticker=PGJ">according to PowerShares data</a>. That compares nicely with the 14.8 percent ROE found on the U.S.-focused PowerShares Dynamic Technology Sector Portfolio (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>).

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Emerging Markets

Emerging Market ETFs

Global

BIDU

CQQQ

CTRP

MCHI

SINA

SOHU

Leave the Banks, Take This China ETF

It is tough to malign hard disk drive makers such as Seagate Technology (NYSE: <a class="ticker" href="/stock/stx#NYSE">STX</a>) and Western Digital (NYSE: <a class="ticker" href="/stock/wdc#NYSE">WDC</a>).

	Year-to-date, Seagate is up 26 percent while Western Digital has surged over 33 percent. By comparison, the PowerShares QQQ (NASDAQ: <a class="ticker" href="/stock/qqq#NASDAQ">QQQ</a>) is up &quot;just&quot; 8.8 percent. Still, some analysts are not overly enthused with the outlook for hard disk drive makers.

	&quot;Worldwide HDD shipments declined for the second consecutive year in 2012, but for only the third time since 2001,&quot; said S&amp;P Capital IQ in a new research note. &quot;According to independent firm IDC (as of April 2013), assuming the PC market can rebound in the second half, shipments should grow by 2.2% in 2013 and at a compound annual rate of 2.1% for 2012 to 2017. Given a modest pricing decline, IDC predicts hard disk drive revenue to decline at a 0.6%compounded annual growth rate (CAGR) from 2012 to 2017.&quot;

	The culprit behind waning HDD demand, as S&amp;P sees it, is increased demand for tablets.

	&quot;We think lower HDD shipments going forward will be largely attributable to the weakening PC market. Accounting for two-third of HDD shipments, the PC market is the largest consumer of HDDs. We believe most of the decline currently being experienced in the PC market has to do with the emergence of tablet computers,&quot; said the research firm.

	S&amp;P noted IDC lowered its HDD shipment forecast for 2013 to 591 million (April 2013 forecast) from 648 
	million (October 2012 forecast) and to 653 million (April 2013 forecast) for 2016 from 793 million (October 2012 forecast).So it is not surprising that the research firm has two-star ratings on Seagate and Western Digital.

	On a related note, S&amp;P Capital IQ has an Underweight rating on the PowerShares Dynamic Technology Sector Portfolio (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>), an ETF where Seagate and Western Digital are the top two holdings combing for just over six percent of the fund&#39;s weight.

	PTF has gained 10.2 percent year-to-date, but the HDD exposure could be troublesome as S&amp;P Capital IQ is not the only firm that sees weakness ahead. Coughlin Associates sees global HDD shipments slumping 12 percent on a year-over-year basis, <a href="http://www.forbes.com/sites/tomcoughlin/2013/05/10/2013-hard-disk-drive-projections/">according to Forbes</a>.

	Last week at the Ira Sohn Conference, Jim Chanos directly highlighted Seagate and Western Digital while calling <a href="http://www.reuters.com/article/2013/05/08/funds-irasohn-chanos-idUSL2N0DP2UL20130508">the hard disk drive business a value trap</a>.

	In fairness to PTW, the ETF is not HDD-specific. Other top-10 holdings include MasterCard (NYSE: <a class="ticker" href="/stock/ma#NYSE">MA</a>) and NetApp (NASDAQ: <a class="ticker" href="/stock/ntap#NASDAQ">NTAP</a>). eBay (NASDAQ: <a class="ticker" href="/stock/ebay#NASDAQ">EBAY</a>), Cisco (NASDAQ: <a class="ticker" href="/stock/csco#NASDAQ">CSCO</a>) and Oracle (NASDAQ: <a class="ticker" href="/stock/orcl#NASDAQ">ORCL</a>) combine for over seven percent of the ETF&#39;s weight so it can be argued an Underweight rating is a tad harsh.

	PTF is also a decent idea for investors looking for small-cap technology exposure as small-caps represent over 45 percent of the ETF&#39;s weight. PTW has $32.8 million in assets under management and an annual expense ratio of 0.65 percent.

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Analyst Color

Short Sellers

Analyst Ratings

CSCO

EBAY

NTAP

Tread Carefully With ETFs With Hard Disk Drive Exposure

Jabil Circuit (NYSE: <a class="ticker" href="/stock/jbl#NYSE">JBL</a>) is scheduled to report second-quarter fiscal 2012 results tomorrow, March 20, after the closing bell.

The tech company has reported increasing earnings for three straight quarters and its stock is more than 36% higher than at the beginning of the year. Being an Apple (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>) iPad supplier to has helped that momentum. Investors will be looking for those trends to continue in and following this earnings report.

Expectations

Analysts predict that Jabil Circuit will report that per-share earnings came to $0.58 for the quarter and that revenue totaled $4.1 billion. In the same quarter of last year, the electronic products maker posted $0.54 per share and $3.9 billion in sales. That EPS estimate is a penny more than it was 60 days ago. Note that Jabil Circuit's EPS were in line with consensus estimates in the previous quarter, ending a streak of earnings beats that went back more than ten quarters.

In the first-quarter report, the company said both EPS and revenues rose year-over year. EPS came to $0.65 a share and sales totaled $4.4 billion. That revenue result missed analysts' expectations, though. Jabil Circuit attributed the growth to strength in its Diversified Manufacturing Services and High Velocity segments. It said an emphasis on operational efficiency and business diversity helped it overcome economic uncertainty.

See also: <a href="http://www.benzinga.com/news/earnings/11/12/2220371/jabil-circuit-falls-on-mixed-earnings-and-guidance">Jabil Circuit Falls on Mixed Earnings and Guidance</a>

Looking ahead to the current quarter, so far analysts expect to see sequential and year-over-year growth of both per-share earnings and revenues. That EPS estimate also has inched up a penny in the past 60 days.

The Company

St. Petersburg, Fla.-based Jabil Circuit provides electronic manufacturing services and solutions worldwide. Customers include companies in the aerospace, automotive, computing, consumer, defense, industrial, instrumentation, medical, networking, peripherals, solar, storage and telecommunications industries. The company was founded in 1966 and it is now an S&P 500 component with a market cap of $5.6 billion.

Competitors include Flextronics International (NASDAQ: <a class="ticker" href="/stock/flex#NASDAQ">FLEX</a>), Sanmina-SCI (NASDAQ: <a class="ticker" href="/stock/sanm#NASDAQ">SANM</a>) and Benchmark Electronics (NYSE: <a class="ticker" href="/stock/bhe#NYSE">BHE</a>). Flextronics missed EPS estimates in the most recent quarter but topped sales expectations. Sanmina-SCI fell short on both the top and bottom lines, while Benchmark offered positive surprises for the most recent quarter.

See also: <a href=" http://www.benzinga.com/analyst-ratings/analyst-color/12/01/2276697/collins-stewart-reiterates-buy-9-target-on-flextronics">Collins Stewart Reiterates Buy, $9 Target on Flextronics</a>

During the three months that ended in February, Jabil Circuit held its annual shareholder meeting and the board declared a quarterly dividend. The company also acquired Telmar Network Technology, and it boosted its chief executive's compensation package by 5% to reflect the company's financial performance during fiscal 2011. 

Performance

Jabil Circuit has a long-term earnings per share growth forecast of 12.5% and a return on equity of 21.6%. Sales increased 10.0% over the past five years. The P/E and PEG ratios are in line with the industry averages, and the operating margin is a little higher than the industry average. Short interest is 4.2% of the float. Analysts on average recommend buying the stock. Their mean price target on the shares currently is about 5% higher than the current share price.

Shares are trading almost 37% higher than at the beginning of the year and are near the 52-week high. The price has been above the 50-day and 200-day moving averages since the beginning of the year. Over the past six months, the stock has outperformed the competitors mentioned above, as well as the broader markets.

See also: <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/03/2387655/garmin-jabil-circuit-and-other-top-tech-stocks-in-february">Garmin, Jabil Circuit and Other Top Tech Stocks in February</a>

<div id="action-items">ACTION ITEMS:

Bullish: Investors interested in exchange traded funds invested in Jabil Circuit might want to consider the following trades:

<ul>
<li>First Trust Technology AlphaDEX (NYSE: <a class="ticker" href="/stock/fxl#NYSE">FXL</a>) is more than 17% higher year to date.</li>
<li>Technology Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>) is more than 17% higher year to date.</li>
<li>PowerShares Dynamic Technology (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>) is more than 17% higher year to date.</li>
<li>Rydex S&P Equal Weight Technology (NYSE: <a class="ticker" href="/stock/ryt#NYSE">RYT</a>) is about 17% higher year to date.</li>
</ul>

Bearish: Traders may prefer to consider these alternative positions in the same industry:

<ul>
<li>Celestica (NYSE: <a class="ticker" href="/stock/cls#NYSE">CLS</a>) is up more than 36% year to date.</li>
<li>Plexus (NASDAQ: <a class="ticker" href="/stock/plxs#NASDAQ">PLXS</a>) is up about 32% year to date.</li>
<li>Flextronics International (NASDAQ: <a class="ticker" href="/stock/flex#NASDAQ">FLEX</a>) is up more than 30% year to date.</li>
</ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.</div>

Earnings

FLEX

PLXS

SANM

Jabil Circuit Earnings Preview: Higher Q2 EPS and Sales Expected

TiVo (NASDAQ: <a class="ticker" href="/stock/tivo#NASDAQ">TIVO</a>) is scheduled to report fiscal third-quarter 2012 results today, November 22, after the closing bell. The DVR pioneer continues to try and stem the tide of subscriber losses in this era of the cloud and streaming video. Investors will no doubt be hoping that analysts have overestimated the net loss per share again as they have in the previous two periods, and also that the year-over-year revenue growth in the second quarter was not a one-time thing.

The consensus forecast calls for TiVo to report a loss of $0.23 per share this time, compared to a loss of $0.18 in the same quarter of last year. That EPS estimate is unchanged over the past 60 days. Note that TiVo reported narrower-than-expected net losses in five of the past seven quarters.

However, analysts also expect the company to report that revenues increased 22.2% from a year ago to $50.5 million. Looking ahead to the current quarter, revenues are anticipated to be 24.0% higher year over year. And for the full year, the forecast so far calls for revenues to be up 13.3%, with per-share earnings of $0.54, largely due to strong earnings results in the first quarter.

The Company

The company offers subscription-based services that provide consumers with a way to record, watch and control live television, as well as to receive videos, pictures and movies from cable, broadcast and broadband sources. It also provides a platform for advertising and audience research measurement services. TiVo had 1.9 million subscribers as of July. The company was founded in 1997 and its market cap is now $1.1 billion.

During the three months that ended in October, the company announced that its iPad and iPhone apps soon would more closely integrate with Facebook. The company authorized $100 million in share buybacks and it added a Harvard professor to its board.

Performance

Per-share earnings are expected to grow about 40% over the next five years. TiVo's PEG ratio is lower than the industry average, and its return on equity is a healthy 24.8%. Though the short interest is a hefty 10.9% of the float, seven of 11 analysts surveyed rate the stock a Buy or Strong Buy. Their mean price target of $14.45 per share is more than 33% higher than the current share price.

The share price has pulled back about 6% in the past week but is more than 28% higher than three months ago and up almost 16% year to date. The share price is still above the 200-day moving average. Over the past six months, the stock has outperformed AT&T (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) and Netflix (NASDAQ: <a class="ticker" href="/stock/nflx#NASDAQ">NFLX</a>), as well as the broader markets.

Action Items:

Bullish: Investors interested in exchange traded funds invested in TiVo might want to consider the following trades:

<ul>
<li>PowerShares Dynamic Technology (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>) is about 14% higher than a recent 52-week low.</li>
<li>iShares S&P North America Tech-Software (NYSE: <a class="ticker" href="/stock/igv#NYSE">IGV</a>) is more than 16% higher than three months ago.</li>
<li>iShares Morningstar Small Growth Index (NYSE: <a class="ticker" href="/stock/jkk#NYSE">JKK</a>) is more than 15% higher than a recent 52-week low.</li>
</ul>

Bearish: Traders may want to consider these alternative positions:

<ul>
<li>Dish Network (NASDAQ: <a class="ticker" href="/stock/dish#NASDAQ">DISH</a>) is more than 25% higher than three months ago.</li>
<li>DirecTV (NASDAQ: <a class="ticker" href="/stock/dtv#NASDAQ">DTV</a>) is more than 11% higher than three months ago.</li>
</ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

DISH

NFLX

TIVO

TiVo Earnings Preview: Higher Revenues Expected

Unfortunately, there's no shortage of plain vanilla long ETFs that are in scary technical predicaments these days. One could write 100 tickers on little slips of paper, put the papers in a hat, draw blindly and probably pullout dozens of ETFs with foreboding charts.

Still, the technical pictures for some ETFs are far worse than they are for others. In these cases, the charts are almost screaming to investors “Don't buy now” or “Come back later for better prices.” 

Assuming the market's recent doldrums persist, the following ETFs could be in for even more downside pain than they've already experienced.

Market Vectors Brazil Small-Cap ETF (NYSE: <a class="ticker" href="/stock/brf#NYSE">BRF</a>):
Under no relevant time frame has the Market Vectors Brazil Small-Cap ETF performed well this year. We're talking past week, past month, quarter, year-to-date, etc. Already down almost 33% just since May, BRF is now fighting to hold support at $40. If this area is violated, the 2010 low around $34.50 could be the next destination.

Market Vectors Coal ETF (NYSE: <a class="ticker" href="/stock/kol#NYSE">KOL</a>):
The Market Vectors Coal ETF has spent the better part of two months violating a host of key technical areas. First, horizontal support at $45 failed. That was followed by the 50-day line dropping below the 200-day moving average. Then support at $37 failed. If support at $30, which KOL is currently flirting with, fails, we'll probably see the ETF back at $25 soon thereafter. 

IShares Dow Jones U.S. Oil Equipment Index Fund (NYSE: <a class="ticker" href="/stock/iez#NYSE">IEZ</a>):
The iShares Dow Jones U.S. Oil Equipment Index Fund is still home to great fundamentals and an impressive long-term outlook. The chart isn't as bad as BRF or KOL's, but it's not great either. IEZ must keep its head above water around $45 or risk a return to $40. A break below $40 could take the ETF back to the low $30s.

PowerShares Dynamic Technology ETF (NYSE: <a class="ticker" href="/stock/ptf#NYSE">PTF</a>):
The Nasdaq had been looking decent comparatively speaking until last week and that helped PTF a little bit. However, if this ETF cannot stay above $20, a retreat to the $16-$17 is possible. Unfortunately, options are not available on this fund.

First Trust AlphaDEX Utilities Fund (NYSE: <a class="ticker" href="/stock/fxu#NYSE">FXU</a>):
In the case of the First Trust AlphaDEX Utilities Fund, it's not that we expect a major decline immediately. Nor is that we're suddenly bearish on utilities, though the group is probably a tad overbought. The issue here is just a messy chart. There is some resistance just below $17.50 and assuming that is broken, FXU would have to fight a previous double top at $18.50. Worst case scenario is the ETF could challenge support at $15 if the market collapses further.

Technicals

Commodities

Five ETFs in Major Technical Danger