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Yahoo
2 hours ago
- Business
- Yahoo
SPHQ Adds $3.7B in Assets as Investors Seek Quality
The Invesco S&P 500 Quality ETF (SPHQ) pulled in $3.7 billion on Wednesday, increasing its assets under management by 21% to $17.4 billion, according to data provided by FactSet. The ETF fell 0.9% on the day, while the S&P 500 ended Wednesday's session flat following the Federal Reserve's announcement that it will hold interest rates steady. The First Trust Rising Dividend Achievers ETF (RDVY) and the First Trust Morningstar Dividend Leaders Index Fund (FDL) added $1.5 billion and $1.3 billion, respectively, while the VanEck Morningstar Wide Moat ETF (MOAT) raked in $1.2 billion. The iShares Core Dividend Growth ETF (DGRO) saw inflows of $702.9 million, the popular Vanguard S&P 500 ETF (VOO) added $698.2 million and the iShares Bitcoin Trust (IBIT) followed up with $639.2 million of inflows. On the outflows side, the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) lost $669.2 million and $365.1 million, respectively, while the Vanguard Small-Cap ETF (VB) and Invesco QQQ Trust Series I (QQQ) each lost just under $300 million in assets. U.S. equity ETFs gained $15.9 billion on Wednesday, while international equity ETFs attracted $1.8 billion. Commodities ETFs pulled in $429.1 million, and currency ETFs gathered $270.4 million. Overall, ETFs added $18.4 billion for the day. Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change SPHQ Invesco S&P 500 Quality ETF 3,673.21 17,419.09 21.09% RDVY First Trust Rising Dividend Achievers ETF 1,492.61 15,927.19 9.37% FDL First Trust Morningstar Dividend Leaders Index Fund 1,331.08 6,733.10 19.77% MOAT VanEck Morningstar Wide Moat ETF 1,237.85 13,762.01 8.99% FJUN FT Vest U.S. Equity Buffer ETF - June 871.05 1,824.75 47.74% VFLO VictoryShares Free Cash Flow ETF 839.90 5,001.97 16.79% DGRO iShares Core Dividend Growth ETF 702.93 31,781.30 2.21% VOO Vanguard S&P 500 ETF 698.21 681,560.10 0.10% IBIT iShares Bitcoin Trust ETF 639.19 71,415.42 0.90% SDVY First Trust SMID Cap Rising Dividend Achievers ETF 596.52 8,515.90 7.00% Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -669.23 27,859.52 -2.40% HYG iShares iBoxx $ High Yield Corporate Bond ETF -365.08 16,635.09 -2.19% VB Vanguard Small-Cap ETF -298.69 63,053.42 -0.47% QQQ Invesco QQQ Trust Series I -290.93 337,425.50 -0.09% VOT Vanguard Mid-Cap Growth ETF -284.67 17,500.58 -1.63% FBTC Fidelity Wise Origin Bitcoin Fund -208.46 20,578.44 -1.01% MDY SPDR S&P Midcap 400 ETF Trust -207.00 22,075.58 -0.94% ARKB ARK 21Shares Bitcoin ETF Ben of Int -191.40 4,651.68 -4.11% VOE Vanguard Mid-Cap Value ETF -177.61 18,250.92 -0.97% PTIR GraniteShares 2x Long PLTR Daily ETF -103.77 479.18 -21.66% Net Flows ($, mm) AUM ($, mm) % of AUM Alternatives -0.92 10,079.31 -0.01% Asset Allocation 41.99 24,165.03 0.17% Commodities ETFs 429.10 223,321.97 0.19% Currency 270.41 144,766.76 0.19% International Equity 1,839.01 1,817,314.32 0.10% International Fixed Income 143.85 297,763.97 0.05% Inverse 5.25 14,826.89 0.04% Leveraged 83.81 123,918.09 0.07% US Equity 15,867.28 6,907,344.18 0.23% US Fixed Income -255.98 1,672,820.70 -0.02% Total: 18,423.81 11,236,321.22 0.16% Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data are believed to be accurate; however, transient market data are often subject to subsequent revision and correction by the | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Automotive
- Yahoo
Carmax Posts Higher Profit, Revenue
Carmax logged higher profit and sales in its fiscal first quarter as the company sold more cars, despite slightly lower prices. The Richmond, Va., used-car retailer on Friday posted a profit of $210.4 million for its three months ended May 31, compared with a profit of $152.4 million a year earlier. Quarterly earnings came in at $1.38 a share, topping the $1.16 a share that analysts polled by FactSet expected. Surging Silver Prices Prompt Americans to Empty Jewelry Boxes and Coin Jars Home Depot Bid Kicks Off Battle for $5 Billion Building-Products Company How Do You Build a $500 Million Coffee Chain? By Selling Matcha to Teens. The Real Message Andy Jassy Is Sending to Employees on AI Don't Fall in Love With AI, and Other Life Rules for Graduates Revenue rose 6.1% to $7.55 billion, just ahead of the $7.5 billion that analysts modeled. Combined retail and wholesale used-unit sales came in at 379,727, marking a 5.8% increase from the prior year's first quarter. Retail sales grew at a faster rate than wholesale. Same-store used-unit sales increased 8.1% from last year. The average selling prices of used and wholesale vehicles fell 1.5% and 1.7%, respectively, from last year, though this decrease was more than offset by higher sales volumes. Chief Executive Bill Nash said Carmax benefits from its customer-centric car-buying and selling experience: 'This is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share and deliver significant year-over-year earnings growth for years to come.' Shares rose 8.8%, to $69.99, in premarket trading. Write to Connor Hart at How Hackers Are Turning Tech Support Into a Threat SpaceX's Starship Explodes During Ground Test Oil Prices Rally, Stock Futures Fall in Holiday-Thinned Trading Food, Agriculture Leaders Sound Warnings on MAHA Overreach OpenAI Changes Price Structure for Business Version of ChatGPT Sign in to access your portfolio
Wall Street Journal
10 hours ago
- Automotive
- Wall Street Journal
Carmax Posts Higher Profit, Revenue
Carmax KMX -0.16%decrease; red down pointing triangle logged higher profit and sales in its fiscal first quarter as the company sold more cars, despite slightly lower prices. The Richmond, Va., used-car retailer on Friday posted a profit of $210.4 million for its three months ended May 31, compared with a profit of $152.4 million a year earlier. Quarterly earnings came in at $1.38 a share, topping the $1.16 a share that analysts polled by FactSet expected.
CNBC
a day ago
- Business
- CNBC
CNBC's Inside India newsletter: Is India's hot IPO market cooling, or is it a blip?
Twelve months ago, India's initial public offering market was booming, with tech startups from food and grocery delivery player Swiggy to electric two-wheeler manufacturer Ola Electric at the cusp of their debut. Many companies wanted to go public in the South Asian powerhouse, riding on the coattails of India's growth story. This year, however, there has been a pronounced change. There have been just 99 listings so far, compared to 147 in the same period a year ago, according to FactSet data. Several companies, including education loan provider Avanse Financial Services, contract drug manufacturer Anthem Biosciences and LG Electronics' India unit, have put their listing plans on hold given weak investor sentiment and the bleak macroeconomic outlook, despite having received approval from the Securities and Exchange Board of India (SEBI). To add to that, the debut of electric scooter maker Ather Energy on May 6 — which came after a two-month lull in mainboard listings — failed to alleviate market concerns. The stock is down more than 3%, after opening at 328 Indian rupees ($3.79) per share — a premium of around 2% to its issue price of 321 rupees. "The IPO market was dismal, especially in the first quarter, because of a weak rupee and global volatility from the wars and constantly evolving tariff situation," Peeyush Mittal, portfolio manager at Matthews Asia, told CNBC's Inside India. Additionally, foreign portfolio investments fell 220% in the first five months of this year compared to the same period in 2024, according to the National Securities Depository. A more pressing problem, however, has been the impact of slowing consumption levels on corporate earnings, Rishika Chandan, managing partner at Venturi Partners, said. Many good private equity-backed consumer brands, which would have historically posted a 35% to 40% jump in their profitability per annum, only grew 15% to 20% in FY2025 ended March, no thanks to tighter consumer purse strings, Chandan added. "That is not a great number to go to the market with," she said, adding that companies have now pushed back their listing plans, in part, to capitalize on higher sales during festive seasons later in the year. While the Reserve Bank of India's recent rate cut and the government's measures to stimulate consumption may eventually translate into higher spending, Chandan says more time will still be needed for corporates to see stronger revenue and profit numbers. "Anybody wanting to go public will likely stretch it out and wait for the valuation markup. That will also give them higher forward value, which will allow for an IPO underwriting based on the evaluation of profitability," Chandan added. As the year stretches into the second half, there has been a subtle shift in the Indian markets, leading to hopes of a pickup in listing momentum. For instance, $6.4 billion was raised from the Indian markets through share sales in May, making it the highest monthly total since December 2024. Block trades were the biggest contributor at $5.5 billion. The sales activity shows no signs of slowing down this month, with at least 10 blocks raising $1.2 billion in just the first week, per data compiled by Bloomberg. India's "fundamentals are solid," Dhruba Jyoti Sengupta, CEO of Wrise Wealth Management Middle East, says. "With over $12 billion in SEBI-cleared IPOs and more than 130 companies in the wings, India's primary market is simply pausing before its next leap. The second half of the year will tell a very different story," he told CNBC's Inside India. Sengupta foresees several listings, including that of Reliance Jio, Tata Capital and LG Electronics India. The Mukesh Ambani-backed Reliance Jio is expected to go public later this year in an approximately 400 billion Indian rupee listing. Sengupta expects the company — which is the telecommunications arm of Reliance Industries — to be "one of India's largest ever [listings], showcasing the ambition to monetize a digital ecosystem at scale." Similarly, Tata Capital is reportedly slated to get regulatory approval to list for $2 billion soon. The listing of the Tata Sons subsidiary, which provides a range of personal finance and corporate loans, "signifies how even conservative conglomerates now view public capital as strategic, not just financial," Sengupta noted. Elsewhere, the wealth manager considers LG Electronics India's listing a "game changer." If successful, it will indicate foreign multinationals' interest in Indian markets given its "domestic retail flows and regulatory stability," he added. Among startups, Venturi's Chandan and Nicholas Cator are keeping a close eye on the listing of Lenskart, which is backed by Softbank, KKR and Temasek. The eyewear company is reportedly close to filing a draft of its preliminary proposal and may raise $1 billion from its listing. Cator, founder and managing partner at Venturi, is curious about how much it can amass on the public market. "Lenskart has done well as a company, and its numbers are good. So, its listing will be a good indicator for private investors on how to value companies, especially in pre-IPO rounds." Other listings Carter and Chandan are watching include that of cleaning and personal care services provider Urban Company, which filed its documents in April and jewelry player Bluestone, which is gunning for unicorn status ahead of its IPO. The optimism of India's IPO market is sometimes marred by concerns over elevated valuations of its stock market. Matthews Asia's Mittal foresees some marquee IPOs in India coming in at a 25% to 30% discount to the leading player in their space, unlike last year when many IPOs were priced at a premium. "Everybody wanted to take the valuation higher, but our expectation is that valuations are already normalizing, largely because some of the IPOs in the tail end of 2024 haven't really performed well," he said, naming Swiggy and Ola Electric as such companies that are now trading below their debut price. Going forward, Mittal and WRISE's Sengupta expect India's capital markets to be buoyant with new equity issuances and a potentially stronger listing pipeline as the country grows to soon become the fourth largest in the world. "India today is reminiscent of the U.S. in the early 2000s and China in the post-2009 era — when IPO markets matured from speculative growth to strategic listings. India is no longer just an emerging market — it's becoming an IPO destination with depth, diversity, and discipline," Sengupta said. Modi and Trump disagree on U.S.' role in Pakistan ceasefire. Indian Prime Minister Narendra Modi held a phone call with U.S. President Donald Trump Tuesday, in which he "clearly conveyed" that the South Asian nation "does not and will never accept mediation" in its conflict with Pakistan, according to a statement by Foreign Secretary Vikram Misri. India is considering expanding its production of rare earth elements. As China imposes tighter restrictions on its export of rare earths — which are crucial in the manufacturing of electric vehicles and military equipment — Indian officials are evaluating the potential of Indian Rare Earths, a government-owned company, to fill the gap in the supply chain. 'No major safety concerns' on Air India's fleet. The Directorate General of Civil Aviation, India's aviation safety watchdog, said Tuesday it had inspected Air India's Boeing 787 fleet and did not find any major anomalies. The airline is cutting international flights on its widebody planes by 15% for the next few weeks. An Air India plane bound for London crashed on June 12 in Ahmedabad, India, killing all 242 passengers except one. Indian stocks were trading flat Thursday as investors weighed the U.S. Federal Reserve's decision to keep interest rates steady, amid the ongoing Israel-Iran crisis. Since the start of the year, the 50-stock Nifty benchmark has risen 4.58%, while the BSE Sensex has gained 3.86%. The benchmark 10-year Indian government bond yield was up at 6.291%. On CNBC TV this week, Dave Ernsberger, co-president of S&P Global Commodity Insights, discussed the necessity for India to build up its energy reserves, especially in light of potential disruptions to global oil supply. However, that goal cannot be met solely by expanding oil and gas production. "The only way India will get energy independence, truly, is by building out domestically supplied renewable energy sources," Ernsberger said. Meanwhile, Anand Gupta, managing director at Allianz Global Investors, said that although India's defense sector has a "longevity of growth" and will gain market share, stocks are not trading at a "reasonable price." There are better stock-picking opportunities in India's market, Gupta said, such as those in its consumer discretionary sector. On Monday, the Purchasing Managers Index reports, which measure activity in India's manufacturing and services sectors, will be out. Multiple mainline companies will list publicly in the coming week, including recyclables company Aten Papers and Foam, solar pump manufacturer Oswal Pumps and construction supply company Arisinfra Solutions. June 20: Aten Papers and Foam IPO, Oswal Pumps IPO June 23: India HSBC flash manufacturing and services PMI for June June 25: Arisinfra Solutions IPO June 26: U.S. GDP final reading for Q1
CNBC
2 days ago
- Business
- CNBC
Stocks making the biggest moves midday: Nucor, Sunrun, Affirm, Zoetis, Circle and more
Check out the companies making headlines in midday trading. Steel stocks– Shares of steel producer Nucor jumped more than 3%. The company issued rosy guidance for its second-quarter earnings, calling for $2.55 to $2.65 per share, while FactSet consensus estimates sought $2.36 per share. In contrast, Steel Dynamics' guidance fell short of Wall Street's estimates, ranging from $2.00 to $2.04 per share, while analysts were looking for $2.73 per share. The stock slipped 1%. The moves follow the completion of the Nippon Steel-U.S. Steel deal . Shares of peer companies Cleveland-Cliffs and Reliance were little changed. Scholar Rock Holding — Shares jumped nearly 15% after the biotech reported its experimental drug showed it was able to help patients taking Eli Lilly 's obesity drug lose less muscle as they shed pounds. Lilly shares were down slightly. Affirm — The consumer finance stock rose 3% after Affirm announced the creation a new loan sale facility with Prudential's PGIM Fixed Income business. Prudential will buy as much as $500 million of Affirm's consumer loans at any one time, with a total investment of $3 billion over the next three years. Sunrun — Shares of the solar company rose 5% despite a downgrade to sector perform from outperform by RBC Capital Markets. The stock on Tuesday recorded its biggest one-day loss in its history amid a sell-off in solar names. Other solar stocks including Enphase Energy , which was up nearly 5%, and Solaredge , which gained 7%, were also higher. Bausch Health — Shares climbed 8% after John Paulson, its nonexecutive chair, acquired 3.6 million shares of the pharma company's stock. The purchase came on the heels of a $14.7 million purchase disclosed last week. Paulson now owns about 9% of the company's outstanding stock. CERo Therapeutics Holdings — Stock in the immunotherapy company pulled back more than 30%. On Tuesday, the U.S. Food and Drug Administration gave the company's acute myeloid leukemia drug CER-1236 an orphan drug designation . Shares rose more than 188% on that news. Chemours — The chemical stock rose 8% after an updated second-quarter forecast showed weakness in a key profit metric. Chemours said it expects consolidated adjusted EBITDA — or earnings before interest, taxes, depreciation and amortization — of $215 million to $225 million for the period. Wall Street expectations called for $236 million, according to FactSet. Regencell Bioscience — Shares dropped 26% after an eyewatering move higher this week . The Hong Kong-based developer of traditional Chinese herbal treatments has said it can treat childhood ADHD and autism. Regencell jumped 30% on Tuesday, and soared 283% Monday, following a 38-for-1 stock split. It's gained more than 59,000% this year. Oracle — The software company gained more than 1% after Guggenheim raised its price target on the stock to the highest on the Street. Analyst John DiFucci said Oracle is "on the precipice of a narrative shift that has been decades of technology innovation in the making." Zoetis — Shares of the animal health company slipped 3% following a downgrade at Stifel to hold from buy. The firm said it expects Zoetis' revenue growth to decelerate further amid increasing competition. Korn Ferry — Shares of the consulting firm gained 9% after fourth-quarter results surpassed analyst estimates on the top and bottom line. Korn Ferry earned $1.32 per share, excluding items, on revenue of $712 million. Analysts polled by FactSet expected a profit of $1.26 per share and revenue of $689.9 million. Circle Internet Group — Stock in the company behind stablecoin USDC advanced almost 16%, after the U.S. Senate passed the GENIUS bill . The legislation is the first of its kind and establishes federal guidelines for digital dollars that are pegged to the greenback. — CNBC's Brian Evans, Sarah Min, Michelle Fox, Alex Harring, Fred Imbert, Yun Li, Jesse Pound and Darla Mercado contributed reporting.
