PowerShares QQQ (NasdaqGM: QQQ), one of the most actively traded exchange traded funds (ETFs), continued its roll Wednesday despite a mixed bag of stock holdings including Cisco (NasdaqGS: CSCO), Broadcom (NasdaqGS: BRCM) and Amazon (NasdaqGS: AMZN).
The $25 billion ETF tracks the Nasdaq-100, an index of the 100 largest non-financial stocks listed on the Nasdaq.
Broadcom shares dropped more than 12% after the semiconductor firm was out with a second-quarter revenue outlook that disappointed investors. [Broadcom, Cisco Weigh on Nasdaq ETF.]
Cisco shares fell nearly 2% Wednesday after Bank of America reportedly cut its price target on the stock.
Conversely, Amazon rallied almost 8% as investors cheered quarterly results and executives soothed fears over profit margins. [Amazon Rally Powers Internet Sector ETFs.]
Another Nasdaq-100 component, eBay (NasdaqGS: EBAY), saw its shares rise in after-hours trading Wednesday after the company reported higher quarterly earnings.
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