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Tuesday Sector Laggards: Materials, Industrial
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The worst performing sector as of midday Tuesday is the Materials sector, showing a 3.1% ...

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Materials Select Sector SPDR Fund (XLB) Shares Cross Below 200 DMA
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In trading on Tuesday, shares of the Materials Select Sector SPDR Fund ETF (XLB) crossed ...

Notable Two Hundred Day Moving Average Cross - FCX
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In trading on Tuesday, shares of Freeport-McMoran Copper & Gold (FCX) crossed below their 200 ...

Shares of XLB and DD Fall Despite Positive Remarks From Bank of America

By Market News Video Staff, Wednesday, October 27, 11:23 AM ET
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Shares of the Materials Select Sector SPDR ETF (NYSE:XLB) are trading lower on Wednesday morning despite positive news regarding EI DuPont de Nemours & Co. (DD). DuPont saw its price target and EPS estimates raised at Bank of America follwoing strong third quarter results earlier in the week. Bank of America increased its price target to $54 per share and upped its 2010 and 2011 earnings estimates to $3.13 and $3.45, respectively. Despite the news, shares of DuPont were heading lower as was the Materials Select Sector SPDR ETF.

DuPont is the second largest holding of XLB, making up 10.2% of the total portfolio. With a 10.8% weighting, Freeport McMoran Copper and Gold (NYSE:FCX) remains the top holding of this ETF.


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