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Retail HOLDRs ETF Unaffected by Home Depot Downgrade
By Market News Video Staff, Monday, October 25, 11:14 AM ET
The Home Depot (NYSE:HD) saw its shares downgraded by FBR Capital this morning from outperform to market perform as channel checks have revealed flat sales this quarter. The downgraded has shares of HD trading lower on Monday morning, but the news has not kept the Retail HOLDRs ETF (AMEX:RTH) down today. While the Home Depot is the fund's second largest holding, shares of Wal-Mart (NYSE:WMT), Amazon.com (NASDAQ:AMZN), Target (NYSE:TGT) and Walgreen (NYSE:WAG) are keeping the fund higher today.
The Home Depot accounts for 12.5% of the Retail HOLDRs ETF, second only to Wal-Mart at 19.5%. The top five is rounded out by Amazon.com at 11.3%, Target at 8.75% and Walgreen at 6.6%.
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