March 24, 2008 at 12:00 pm by Tom Lydon
Jewelry purveyor Tiffany & Co. (TIF) put up strong results on Monday, delivering a dose of positivity to retail exchange traded funds (ETFs) and the overall sector. It’s was sitting at 7-week highs this morning.
While Tiffany isn’t a major holding of any of the retail ETFs, the fact that the company is forecasting earnings to beat analysts’ predictions is good news for the sector - diamonds are hardly a consumer staple, despite what the woman in your life tells you.
Tiffany also reported that its fourth-quarter fiscal earnings beat the mean estimate by analysts, says Tomi Kilgore for Thomson Financial.
Retail ETFs that were in green territory intraday:
- Claymore/Robb Report Global Luxury (ROB)
- Retail HOLDRs (RTH)
- SPDR S&P Retail (XRT)
- Consumer Discretionary SPDR (XLY)
- iShares Dow Jones US Consumer Goods (IYK)
Tags: Green ETFs, Leisure & Entertainment, Retail & Consumer, XRT
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