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In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.
Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy
into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending
on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial
Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will
rise and fall in value pretty much the same amount as the Dow or S&P.
You can also buy ETFs that invest in other
types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few
years, so there is no shortage of ETFs to invest in.
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Monday, June 16, 2008
Pilgrim's Pride Drops 12%; Stock Downgraded At Credit Suisse
Matt Andrejczak
MarketWatch Pulse
SAN FRANCISCO -- Shares of Pilgrim's Pride Corp. slid 12% midday Monday amid growing concerns about the prices of boneless chicken breast meat and the surge in corn-feed costs. The stock fell to $16.15, putting its loss so far this month at 37%. On Monday, Credit Suisse analyst Robert Moscow cut Pilgrim's Pride stock to neutral, from buy, and slashed his price target to $19 a share, down from $33. "We are downgrading Pilgrim's Pride . . . because our thesis that chicken prices would increase rapidly this summer has been slow to materialize," Moscow wrote. "We have a hard time seeing how fundamentals can work for protein producers over the next 12 months given this environment." Other analysts, too, had been expecting breast meat prices to rise as chicken producers cut supply. Another problem is rising corn prices, exacerbated by the recent floods in the Midwest U.S. This should increase the costs for Pilgrim's Pride to feed its flock of chickens.
Copyright © 2008 MarketWatch, Inc.
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