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PNC Financial Services Group

ETFs Moving On Earnings (SMH, IAT, INTC, USB, PNC)

The amount of big name companies reporting quarterly earnings is heating up as both tech and financial leaders released reports in the last 24 hours.After the bell on Tuesday, semiconductor giant Intel (NASDAQ:INTC) reported earnings that were mixed.On Wednesday morning three large financial stocks, Bank of America (NYSE:BAC), U.S. Bancorp (NYSE:USB), and PNC Financial Services (NYSE:PNC) all beat estimates, but investors were not overly bullish.SemiconductorsThe Market Vectors Semiconductor ETF (NYSE:SMH) is a basket of 25 chip stocks with a large portion of the allocation in the top holding, Intel.The largest semiconductor stock in the U.S. makes up 18 percent of the portfolio and therefore a big move on earnings will have a direct effect on SMH. The initial reaction to Intel earnings was positive with the stock trading at the best level in two years.See also: How ETNs Differ From ETFsHowever, SMH is lower by one percent as the other stocks that make up the top ten were moving in the...

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