CB Richard Ellis Drags on Real Estate, Financial ETFs | ETF Trends

CB Richard Ellis (NYSE: CBG) was down more than 6% Wednesday after the company reported first-quarter results, crimping exchange traded funds (ETFs) that invest in real estate stocks and financials.

Investors were disappointed by the quarterly results posed by CB Richard Ellis even though the commercial real estate services provider said it swung to a profit.

Earlier this year, the company said it planned to acquire ING Real Estate Investment Management.

The Financial Select Sector SPDR Fund (NYSEArca: XLF) was flat in afternoon trade Wednesday.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.