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What’s
As Turkey Buries Dead, ISIS Claims Responsibility
Republicans
News Take Reins
In Congress
Business & Finance
andlords will likely be

L forced to slash rents on
luxury apartments and offer
deep concessions this year BY SIOBHAN HUGHES the Office of Congressional
amid a glut of supply. A1 AND KRISTINA PETERSON Ethics, the chamber’s nonparti-
san ethics board, a move that
SpaceX plans to resume
WASHINGTON—The na- triggered pushback from Dem-
rocket launches on Jan. 8
tion’s new, all-Republican lead- ocrats and government watch-
using revised procedures
ership begins to take power dog groups.
following last fall’s blast. B1
Tuesday with an ambitious Republicans will hold the
Cantor Fitzgerald said agenda of tax cuts, regulation White House and both cham-
former Deutsche Bank co- rollbacks and repeal of Presi- bers of Congress for the first
CEO Jain is joining the firm dent Barack Obama’s health time since early 2007 once
as group-level president. B1 law, but they face a compli- President-elect Donald Trump
cated legislative path pocked is sworn in Jan. 20, creating
U.S. firms are set to boost
with unresolved policy details. high expectations within the
investment despite rising
After new senators are party that it can enact long-
rates, as they become more
sworn in Tuesday by Vice Pres- held policy goals. When Mr.
optimistic about growth. B1
ident Joe Biden, and House Trump met recently with Sen.
European stock markets members by GOP Speaker Paul David Perdue (R., Ga.), “all we
rose in thin holiday trading Ryan, the Republicans among talked about for the better
following the release of them plan to move quickly to part of an hour was how to get
strong factory data. B8 turn back an era defined by Mr. results in the first part of the
Obama’s ambitions to make the year,” Mr. Perdue recalled.
Nestlé has tapped a
government a more powerful One of the first goals is to
health-care industry vet-
force in the economy. dismantle the Affordable Care
eran as CEO as it pushes
House Republicans on Mon- Act. The Senate’s opening
into healthier foods. B3
day night also took steps to move, coming as soon
Hyundai and Kia are eliminate the independence of Please see GOP page A2
bracing for another tough
year after the auto makers
Tensions in GOP
missed 2016 sales targets. B3
Twitter’s China chief has
departed after eight months,
Rise Over Russia

the latest executive to leave
amid a reorganization. B4
A White House study will
recommend tougher curbs
BULENT KILIC/AGENCE FRANCE-PRESSE/GETTY IMAGES
on Chinese investment in BY PAUL SONNE national security adviser des-

the U.S. chip industry. B5 ignate, retired Lt. Gen. Michael
WASHINGTON—Tensions Flynn—is disagreement over a
Foxconn’s founder plans
within the Republican Party basic question: How much dan-
to build an $8.8 billion TV
over how to handle Russia are ger does President Vladimir
flat-panel plant in China. B4
becoming increasingly public as Putin’s Russia pose to the U.S.?
Disney’s “Rogue One” the Senate prepares for confir- The camp led by Mr. McCain
led the box office again over mation hearings on President- believes Mr. Putin presents a
the New Year’s weekend. B5 elect Donald Trump’s nominee grave threat to the U.S. by un-
for secretary of state and dermining democratic values,
World-Wide presses ahead with a review of flouting rules of the interna-
alleged Russian cyberattacks tional order and countering
during the 2016 election. Please see RUSSIA page A4
The new GOP Congress At the heart of the intra-
is set to take power with an AFTERMATH: Mourners in Istanbul on Monday carry the coffin of a 23-year-old victim of the New party split over Russia—which Gerald F. Seib: The method in
agenda of tax cuts, regula- Year’s attack on a nightclub that killed at least 39 people. Islamic State claimed responsibility. A6 pits GOP lawmakers like Sens. Trump’s messaging habits... A4
tion rollbacks and repeal of John McCain and Lindsey Gra- The shifting demographics in
the Affordable Care Act. A1 ham against Mr. Trump and his Congress....................................... A2
House Republicans are
moving to eliminate the inde-
pendence of the Office of
Congressional Ethics. A2
GOP tension over Russia
Luxury Apartment INSIDE
Boom Faces Glut
has become more public
ahead of Senate hearings on
Trump’s secretary of state
pick and alleged hacking. A1
Trump is expected to BY LAURA KUSISTO months of free rent on some
name Robert Lighthizer, a projects. In Los Angeles, some
former Reagan trade offi- Landlords of upscale apart- landlords are offering six
cial, to head the U.S. Trade ments across the U.S. are brac- months of free parking, and
Representative office. A4 ing for rough conditions in
2017 that will likely force
some in Houston are waiving
security deposits. Meanwhile,
NEW ERA HOUSEPLANTS JAIN JOINS
A judge reaffirmed that
South Carolina gunman
them to slash rents and offer MPF Vice President Jay Par- DAWNS FOR THAT MAKE CANTOR
Roof is mentally competent,
deep concessions as a flood of
luxury properties brings a
sons said he expects little or
no rent growth in urban rental
INVESTORS A HOME FITZGERALD
clearing the way for the sen- seven-year boom to an end. markets this year.
tencing phase of his trial. A3 The turnaround follows a “This will be a very chal- YEAR-END REVIEW, R1-12 LIFE & ARTS, A11 BUSINESS & FINANCE, B1
Islamic State claimed re- more-than-26% jump in U.S. lenged leasing environment al-
sponsibility for the attack on apartment rents since early most everywhere,” Mr. Par-
2010, far outstripping inflation sons said.
an Istanbul nightclub, calling
it retaliation for Turkey’s
military action in Syria. A6
The terror group said it
and income growth. But in
2016, rents rose a modest
3.8%, a significant drop from
The slowdown, he said, is
being driven not by a pullback
in demand but rather a glut of
401(K) PIONEERS LAMENT
was responsible for Baghdad
bombings that Iraqi officials
said killed at least 28. A6
the recent high of 5.6% year-
to-year growth in the third
quarter of 2015, according to a
new apartments. Demand for
urban properties jumped after
the housing bust as young,
WHAT THEY STARTED
report to be released Tuesday high-earning professionals es-
Russia is hindering the by MPF Research, a division of chewed homeownership and
removal of an Afghan war-
lord from a U.N. sanctions
RealPage Inc. that tracks the
U.S. apartment market.
flocked to big cities.
Developers responded by
Retirement-saving vehicles fall short of early backers’ rosy expectations
list, officials said. A6 Developers in New York are focusing most of their efforts
Israeli lawmakers plan already offering up to three Please see RENT page A8 BY TIMOTHY W. MARTIN forecasts that were too opti-
to propose a bill to annex a Savings Struggle mistic to sell the plan in its
West Bank settlement after Herbert Whitehouse was Percentage of disposable income early days.
Trump’s inauguration. A7 How Do You Dismantle a 90-Ton one of the first in the U.S. to Americans set aside, including
suggest workers use for retirement
Others say the prolifera-
tion of 401(k) plans has ex-
North Korea is close to
an ICBM test launch, Pyong- Whale? With a Strong Stomach a 401(k). His hope in 1981
was that the retirement-sav-
16%
posed workers to big drops
in the stock market and high
yang leader Kim said. A8 i i i ings plan would supplement fees from Wall Street money
14
a company pension that managers while making it
12
The Year Ahead Corpses in Newfoundland offer rare guaranteed payouts for life. easier for companies to shed
Thirty-five years later, the 10 guaranteed retiree payouts.
From the Trump research opportunity; ‘totally slimed’ former Johnson & Johnson
8
“The great lie is that
presidency to new human-resources executive the 401(k) was capable of re-
assertiveness by Russia has misgivings about what 6 placing the old system of
and China, 2017 promises BY JACQUIE MCNISH he helped start. pensions,” says former
to be a year of What Mr. Whitehouse and 4 American Society of Pension
transformation. A9 The blue whale is the other proponents didn’t an- 2 Actuaries head Gerald Fac-
world’s largest mammal, but ticipate was that the tax-de- ciani, who helped turn back
that doesn’t mean it is easy to ferred savings tool would 0 a 1986 Reagan administra-
see or study. Unless you’re in- A blue whale largely replace pensions as 1960 ’70 ’80 ’90 ’00 ’10 tion push to kill the 401(k).
CONTENTS Opinion................A15-17 side. big employers looked for “It was oversold.”
Banking & Fin.........B7 Sports.........................A14 Note: Monthly data, seasonally adjusted
Business News.B2-3,5 Technology.................B4 That is why Jacqueline bled a deflated swimming ways to cut expenses. Just annual rate Misgivings about 401(k)
Crossword................A12 U.S. News..............A2-4 Miller found herself clad in a pool. 13% of all private-sector Source: U.S. Bureau of Economic Analysis plans are part of a larger de-
Heard on Street.....B9 Weather....................A12 hotel shower cap, fisherman’s After a few machete swings, workers have a traditional THE WALL STREET JOURNAL. bate over how best to boost
Life & Arts....... A11-13 World News.........A6-8
Markets Digest......B6 Year-End Review.....R1-12
chest waders and rubber she was showered in whale pension, compared with 38% the savings of all Americans.
boots, wading into the chest fluid. No Ghostbuster suffered in 1979. Some early 401(k) backers are now calling
cavity of a deceased whale. a greater indignity. “I was to- “We weren’t social visionaries,” Mr. for changes that either force employees to
> Wielding a machete, the tally slimed,” she said. Whitehouse says. save more or require companies to funnel
mammal technician poked When the corpses of two fe- Many early backers of the 401(k) now say additional money into their workers’ retire-
through the whale’s cavity in male blue whales floated into they have regrets about how their creation ment plans. Current regulations provide in-
search of its heart vessels. It two Newfoundland seashore turned out despite its emergence as the centives to set up voluntary plans but don’t
s Copyright 2017 Dow Jones &
took lying on her side to sever villages in 2014—their under- dominant way most Americans save. Some require employees or companies to take any
Company. All Rights Reserved pipe-size arteries and veins sides partly preserved by the say it wasn’t designed to be a primary re- specific action.
from the organ, which resem- Please see WHALE page A10 tirement tool and acknowledge they used Please see 401(K) page A10
A2 | Tuesday, January 3, 2017 * **** THE WALL STREET JOURNAL.
U.S. NEWS
Congress’s Makeup Shifts
BY NATALIE ANDREWS say the party must do more to have a congressional wing that mala Harris of California, who
Changing Chambers
The Congress sworn in on Tuesday will be more diverse than the last,
with the addition of the first Latina senator and first Indian-American
woman to hold a House seat, among others.
Democrat Republican
speak to voters in the middle is largely white when the na- is both the first Indian-Ameri-
The House of Representa- of the country, particularly tion is growing more diverse. can and second African-Ameri-
tives that takes the oath of of- working-class whites, many of Many GOP leaders have said can female senator; Catherine
114th Congress 115th Congress
fice on Tuesday will include its them former Democrats who the party needs to do more to Cortez Masto of Nevada, who AFRICAN-AMERICANS
first Indian-American woman. abandoned the party. reach growing Hispanic and is the first Latina senator; and Senate
The Senate will have a record Rep. Tim Ryan (D., Ohio) Asian-American voter groups, Tammy Duckworth of Illinois, 2 3
number of women, including said that was one reason he as well as African-Americans. the first Thai-American in the
its first Latina. challenged—unsuccessfully— New Republicans in Con- chamber. They bring the num- House of Representatives*
The new Congress reflects Rep. Nancy Pelosi of California gress include several military ber of women to a record 21,
the diversity of America, but for House minority leader. “A veterans, including retired Ma- up from 20 in the last Senate.
also the sharply different lot of our caucus is bicoastal. rine Lt. Gen. Jack Bergman, of Diverse perspectives are im-
makeups of the two parties. States like Ohio don’t have the Michigan, and Brian Mast, a portant when considering leg-
White men will account for combat veteran from Florida. islation, said Pramila Jayapal,
87% of House Republicans, the Mr. Mast lost both legs while a Democrat from Washington, 46 46
same as last session, but only
41% of House Democrats, down
New composition serving in Afghanistan in 2010.
The soon-to-be Florida law-
who will be the first Indian-
American woman in the House. HISPANIC/LATINO AMERICANS
2 percentage points from the reflects challenges maker is of Mexican descent, “It’s not about just the color Senate
previous Congress, according
to figures compiled by the
each party faces to but that isn’t something he
used to connect with Hispanics
of our skin or just how we
look,” she said. “It’s the fact
3 4
Cook Political Report. represent America. during his campaign. that when we chair hearings, House of Representatives*
The racial composition of “If you’re picking any demo- when we listen to testimony,
each party’s congressional graphic that you want to see when we craft legislation, we
wing mirrors the voters who multiply, it would be the de- are doing that with our own
elected it: Some 87% of Repub- kind of representation…that mographic of veterans,” he very personal experiences.”
lican President-elect Donald we need to take the majority said. “When we’re on the bat- The average years of service 31 36
Trump’s votes last year came back,” he told reporters in No- tlefield we’re not looking at for House members in the
from whites, compared with vember as he weighed whether color or gender. I think that’s new Congress is 9.3 years, or ASIAN/INDIAN/PACIFIC ISLANDER AMERICANS
only 55% of Democrat Hillary to challenge Mrs. Pelosi. what you want in Congress.” 4.6 terms, and the average for Senate
Clinton’s votes. “We’re coming into a Con- For the first time, the Sen- Senate members is 10.1 years. 1 3
That leaves each party with gress in which the white work- ate freshman class will have The average age for a repre- House of Representatives*
challenges. The Democratic ing class completely left Dem- more women than men. Of the sentative is 57.8 years, and a
membership of Congress is ra- ocrats,” said Josh Huder, seven new senators, four are Senator’s average age is 61.8
cially diverse and largely met- senior fellow at the Govern- women, all of them Democrats. years, according to the Con- 13 15
ropolitan, holding districts in ment Affairs Institute at In addition to former New gressional Research Service. Note: Members can be, and are, classified in more than one category.
and around cities and on the Georgetown University. Hampshire Gov. Maggie Has- —Allison Kite *Including nonvoting members of the House
two coasts. Some Democrats Republicans, for their part, san, the women include Ka- contributed to this article. Source: Congressional Research Service THE WALL STREET JOURNAL.
Measure GOP Democrats say they will fight

Mr. Trump and his GOP partners
peal newer regulations on a
simple majority vote. Republi-
DOMINICK REUTER/AGENCE FRANCE-PRESSE/GETTY IMAGES
on an array of policy fronts. Mr. cans could use the law to re-
Takes Aim Continued from Page One

as Tuesday, will be to initiate a
Obama is scheduled to visit Cap-
itol Hill on Wednesday to meet
with Democrats from both
peal rules made since June
2016, according to a recent es-
timate by the Congressional
At Ethics controversial process to repeal

parts of the law, which has
brought health insurance to
chambers to discuss strategy on
their most urgent goal: defend-
ing the Affordable Care Act.
Research Service.
One possible target is an In-
terior Department rule issued
Watchdog more than 19 million people

but has taken a hit as the num-
ber of insurers offering cover-
The same day, Vice President
Mike Pence is scheduled to meet
with House Republicans to dis-
in November to cut methane
emissions from oil and natu-
ral-gas operations on federal
BY KRISTINA PETERSON age on the ACA’s exchanges has cuss their next steps toward re- lands, part of the Obama ad-
shrunk and premiums have pealing and replacing the law. ministration’s broad goal to
WASHINGTON—House Re- jumped. The coming fights aren’t combat climate change.
publicans are moving to elimi- The effort is creating a maze confined to domestic policy. A rewrite of the tax code is
nate the independence of the Of- of challenges. The most press- Sen. John McCain (R., Ariz.), likely to be more of a slog than
fice of Congressional Ethics, the ing is how to develop a replace- Sen. David Perdue said he and Donald Trump talked about how to chairman of the Senate Armed a sprint. Republicans want to
chamber’s nonpartisan ethics ment for the 2010 health law get results in the first part of the year. Services Committee, has make the farthest-reaching tax-
board, sparking criticism from without triggering the sort of scheduled a hearing Thursday code changes since 1986, lower-
Democrats and government disruptions that accompanied them to repeal much of the attorney general, the first con- on cybersecurity, which he ing marginal rates on individu-
watchdog groups. the law’s rollout, which contrib- law with a simple majority firmation hearing on the calen- says will focus in part on the als and businesses and
House Republicans, meeting uted to the Democrats’ loss of vote—a necessity, given that dar, set for Jan. 10-11. Mr. Ses- U.S. intelligence community’s repealing the estate tax. They
as a group Monday night, ap- their Senate majority in 2014. they hold 52 seats in the sions has drawn scrutiny from conclusion that Russia hacked aim to use a legislative strategy
proved an amendment from Some Republican lawmak- chamber, shy of the 60 needed the left over his civil-rights re- the Democratic National Com- that relies only on GOP votes,
House Judiciary Committee ers are worried a repeal would to pass most legislation. cord. A representative for Mr. mittee’s email system to inter- but it will require Republicans
Chairman Bob Goodlatte (R., Va.) yank the rug out from under The first step would be to Sessions didn’t immediately re- fere in the 2016 elections. That to unify around a single plan.
that would place the office un- people’s coverage before a re- introduce and start debate on a spond to a request for comment. hearing could amplify GOP House and Senate Republi-
der the oversight of the law- placement is in effect. budget resolution for the 2017 Tentative hearings are also concerns about Mr. Trump on cans say they are aiming for a
maker-run House Ethics Com- Republicans also know that fiscal year, setting up passage scheduled Jan. 11 for school- foreign policy, which have plan that doesn’t add to the
mittee. Currently, the Office of a confirmation hearing for by next week. The resolution choice advocate Betsy DeVos, grown as he has praised Rus- deficit, after counting revenue
Congressional Ethics is an inde- Rep. Tom Price (R., Ga.), nomi- would direct Senate commit- nominated to be secretary of sian President Vladimir Putin from faster economic growth.
pendent entity governed by an nated to serve as Health and tees to reconcile tax and spend- education, and Jan. 12 for fast- and cast doubt on the intelli- Mr. Trump, however, has pro-
eight-person board of private Human Services secretary, ing legislation with the budget food executive Andy Puzder, gence community’s conclusion. posed a tax cut that even his
citizens who don’t work for the will become an early focal blueprint, but also carry the nominated to head the Labor Stocks and consumer confi- campaign’s optimistic projec-
government. point for debate over any re- broader goal of dismantling key Department. Both are lightning dence have rallied since Mr. tions say doesn’t pay for itself.
Mr. Goodlatte’s measure is peal plan, given the congress- pillars of the Affordable Care rods for Democratic criticism, Trump’s election, in part on The party wants to move
now part of the package of new man’s years of working to re- Act. The resulting package though there is no sign that the expectations of tax cuts and a quickly in order to fulfill the
House rules set to come up for a place the health law’s would have special procedural minority party has the votes to regulatory rollback, and so Re- image Mr. Trump has painted
vote on the House floor Tuesday. mandates with tax credits for protections allowing passage stop the confirmations. publicans are under pressure of a government that can pro-
“Republicans claim they want the purchase of insurance. by a simple majority. Further in the distance: an to follow through. duce good jobs and wages with
to ‘drain the swamp,’ but the Senate Republicans as soon Other early battles will in- expected battle over whom- Congress could use its the right leadership.
night before the new Congress as Tuesday will start a legisla- clude Senate consideration of ever Mr. Trump selects to fill power under the 1996 Con- —Richard Rubin
gets sworn in, the House GOP tive process that would allow Sen. Jeff Sessions (R., Ala.) to be the open Supreme Court seat. gressional Review Act to re- contributed to this article.
has eliminated the only indepen-
U.S. WATCH
dent ethics oversight of their ac-
tions,” House Minority Leader
Nancy Pelosi (D., Calif.) said in a
Lizards Lounge on a Winning Ride
statement Monday night.
Democrats created the Office CHICAGO OHIO
of Congressional Ethics in March
2008, after they took control of Off-Duty Officer Search Resumes for
Congress in 2007, saying they Fatally Shoots Man Small Plane, Family
wanted to make the ethics pro-
cess more transparent. If the of- Chicago police said an off- A bag that washed ashore
fice believes it has found viola- duty officer fatally shot an un- near a private harbor was con-
tions, its job is to recommend a armed man during an argument firmed as coming from a small
formal investigation by the tra- on the city’s Northwest Side. plane that disappeared over Lake
ditional House Ethics Commit- Superintendent Eddie Johnson Erie near Cleveland, authorities
tee. said the officer shot the man said Monday as they resumed a
Lawmakers who found them- several times during a “verbal al- search for the aircraft.
ROBYN BECK/AGENCE FRANCE-PRESSE/GETTY IMAGES
selves under review by the Of- tercation” shortly after 9 a.m. The Cessna 525 Citation de-
fice of Congressional Ethics crit- Monday in the Belmont Gardens parted from Burke Lakefront Air-
icized the office for being too neighborhood. He said the two port late Thursday. John T. Flem-
aggressive. men knew each other from a re- ing, chief executive of a
Under Mr. Goodlatte’s mea- cent confrontation. Columbus-based beverage distri-
sure, the Ethics Committee Police said the 57-year-old of- bution company, was piloting. His
would be able to direct the office ficer was visiting an acquaintance wife, Sue, their two teenage
to stop any of its investigations in the area at the time of the sons, Jack and Andrew, and two
into possible lawmaker miscon- shooting. Neither the name of neighbors were also aboard.
duct. the officer nor that of the shoot- The plane, which was headed
A spokeswoman for the office ing victim has been released. to Ohio State University Airport,
declined to comment Monday Mr. Johnson said he has suddenly lost altitude about 2
night. “more questions than I have an- miles out, according to a flight-
Mr. Goodlatte said in a state- swers at this time” about the tracking service.
ment that the office “has a seri- A NEW LEAF FOR A NEW YEAR: Cal Poly Universities’ ‘A New Leaf’ float won the Founders’ award shooting. The incident marks the —Associated Press
ous and important role in the at the 128th Rose Parade on Monday. The parade took place on Jan. 2 this year because of a long second time in the first two
House, and this amendment tradition of never holding the event on a Sunday. days of 2017 that a Chicago po- TEXAS
does nothing to impede their lice officer shot someone.
work.” —Associated Press Riverbed Fossil Find
Excites Scientists
CORRECTIONS AMPLIFICATIONS
THE WALL STREET JOURNAL (USPS 664-880)
(Eastern Edition ISSN 0099-9660) (Central Edition ISSN 1092-0935) A fossil found in limestone
(Western Edition ISSN 0193-2241) along a remote South Texas riv-
Editorial and publication headquarters: 1211 Avenue of the Americas, New York, N.Y. 10036
Published daily except Sundays and general legal holidays. erbed appears to be that of an
Periodicals postage paid at New York, N.Y., and other mailing offices. Tesla Motors Inc. was mis- before the inauguration may acterized Mr. Obama’s ad- ichthyosaur, which swam in
POSTMASTER: Send address changes to The Wall Street Journal, 200 Burnett Rd., Chicopee, MA 01020. spelled as Telsa in the year- be unusual, though, because dress as unusual, but failed to oceans 90 million years ago, ac-
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advertiser’s order. Only publication of an advertisement shall constitute final acceptance of the addresses in both scope and Frederic Fekkai no longer ago in Del Rio by a geologist
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Letters to the Editor: Fax: 212-416-2891; email: wsj.ltrs@wsj.com Departing presidents have intensity, people familiar with owns a line of hair salons. A working for the Texas Railroad
given farewell addresses in the discussions said. In some Private Properties article in Commission, went largely unno-
NEED ASSISTANCE WITH YOUR SUBSCRIPTION? the final weeks of their terms. editions Saturday, a U.S. News Mansion on Friday incorrectly ticed until a photo of the fossil
CONTACT CUSTOMER SUPPORT. President Barack Obama’s fi- article about tensions in the said he owned salons in sev- appeared on the cover of the
By web: customercenter.wsj.com nal major address the week White House transition char- eral U.S. cities. commission’s 2016 annual report.
By email: wsjsupport@wsj.com It was found on private land
By phone: 1-800-JOURNAL (1-800-568-7625) in the Eagle Ford formation.
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THE WALL STREET JOURNAL. * * * * Tuesday, January 3, 2017 | A3
U.S. NEWS
Autistic Son’s Path to Rhodes Scholar

Mother tapped into watch the birds, which led to
an interest in the ocean and
Jory Fleming’s sense then more broadly to geogra-
of curiosity to fuel phy and geophysics.
Though Ms. Fleming had
academic excellence never thought that her son
would go to college, he applied
BY DOUGLAS BELKIN to the nearby University of
South Carolina and was ac-
Kelly Fleming remembers cepted. He lived at home in
the low point of raising her Columbia, S.C., and stayed
son, Jory. mostly to himself on campus.
He was 8 years old when he But Jory had a secret
spent an entire morning, after- weapon, a service dog named
noon and evening wailing un- Daisy. “I’m flying blind,” when
controllably. She still doesn’t it comes to reading people, he
know what set off the boy, who said. But Daisy broke the ice
has autism and a metabolic and as one conversation led to
disorder. the next, Jory’s confidence
But the tough times seem grew.
SEAN RAYFORD FOR THE WALL STREET JOURNAL

more bearable now, at the high Between his stellar grades
point. Last month, Jory, who is and community service, Jory
22 with a feeding tube in- won a series of scholarships,
serted in his stomach and which led him to apply for the
braces on his legs, was granddaddy of them all,
awarded a Rhodes Scholarship. the Rhodes.
In between came Ms. Flem- Just after the interviews for
ing’s decision to give up on her finalists in Atlanta ended, he
own dream of practicing medi- texted his mother at the hotel
cine. Instead, she home- where they were staying that
schooled Jory. he was ready to leave. Then a
“All children have amazing second text came, almost as an
minds,” Ms. Fleming said. The Fleming family bought a cockatiel for Jory because, as a toddler, he would spend hours looking out the window at birds. afterthought.
“Their brains are right there “I won,” it said.
for developing and just like said Ilene Gonzalez, autism residency or home-school her diate surroundings and that’s turn the page. Jory will head off to the
any other child you have to services associate at California son. “It was the hardest deci- something I wanted to be able It turned out that Jory University of Oxford in Eng-
find a way to make that human State University, Long Beach. sion of my life,” she said. to do.” didn’t read from left to right land later this year to study
connection.” On the day of Jory’s melt- She chose her son. The Flemings bought a but from the center of the geography—along with Daisy
About 50,000 children diag- down years ago, college was But Jory couldn’t read, and cockatiel that Jory named page toward the top and bot- and his mom. He hopes to one
nosed with autism turn 18 ev- the farthest thing from Ms. she didn’t know where to start. Federer, after his favorite ten- tom at the same time. “I don’t day go into public service,
ery year and about one-third Fleming’s mind. Even though After an aborted effort to nis player. He studied really see the words,” Jory ex- where he hopes his proficiency
enter college, according to a his public school had assigned teach him Latin, Ms. Fleming Federer’s movement so in- plained. “I see a moving image with imagery can help him vi-
2012 study in the journal Pedi- an aide to stay with him all gave up on the books and let tently his mother said they of what’s going on on the sualize and solve complex en-
atrics. College administrators day, the aide frequently took Jory’s sense of curiosity guide started to communicate. page.” vironmental problems.
say few graduate without sup- him out of the class to calm her. Ever since he was a tod- Before long, her once nearly “It’s a quick mental snap- “My mom put so much ef-
port. his outbursts. dler, he had spent hours look- nonverbal child was telling the shot that I think is the result fort into developing me, not
“They can have a lot of “He wasn’t learning, he ing out the window at birds. family stories about his bird. of my autism,” he said. “Lan- only through teaching but to
trouble with things like know- wasn’t really doing anything,” “I think I was first drawn to Soon, he began to devour guage is difficult for me, but give me the mental strength
ing when to interject during a Ms. Fleming said. them because compared to books. One day, Ms. Fleming images are easy.” and ability to control my au-
conversation or to take the ini- She had recently finished their surroundings they are was a third of the way down a His fascination with birds tism,” Jory said. “Her example
tiative and talk to the student medical school and faced a very disconnected,” he said. page she was reading to Jory led him to the beach, which has propelled me toward pub-
sitting next to them in class,” choice. She could go to her “They can escape their imme- when he asked if he could he soothed him. There, he would lic service.”
Hawaii Homeless Policies Spur Fixes, Debate Carolina

BY ALEJANDRO LAZO the increase was smaller than
Gunman
SAND ISLAND, Hawaii—Af-
ter three months of living in
in years past. The “tide is
turning,” he said.
The governor’s emer-
Is Deemed
his 1995 Mazda Protégé, Oren
Elliott Kong found refuge in a
converted shipping container
gency declarations—watched
closely by other states grap-
pling with large homeless pop-
Competent
on this industrial islet, reached ulations—helped distribute fi- BY JENNIFER LEVITZ
from Honolulu by a single nancial aid to more than
drawbridge south of the air- 4,800 people who were home- A federal-court judge on
port. less or in danger of losing Monday reaffirmed that South
MARCO GARCIA FOR THE WALL STREET JOURNAL
Mr. Kong, 67 years old, lived their homes. About 500 addi- Carolina gunman Dylann Roof
for four months in the Hale tional units for the homeless is mentally competent, clearing
Mauliola Housing Navigation were built or renovated, proj- the way for the sentencing
Service Center, a temporary ects that could have taken phase of his death-penalty trial
housing community created by a year longer without the dec- to begin on Wednesday.
Honolulu officials to address laration, said Mr. Morishige. After a daylong hearing in
its swelling homeless popula- The Hale Mauliola center, U.S. District Court in Charles-
tion. where Mr. Kong lived and ton, Judge Richard Gergel ruled
The use of the old shipping where the average length of that Mr. Roof remains compe-
container shows the unconven- stay is 62 days, was fast- tent to stand trial and act as
tional steps Hawaii is taking to tracked and later expanded his own lawyer in the next por-
address its homelessness through an emergency declara- tion of his trial.
rate—the highest per capita in Oren Elliott Kong lived for several months at the Hale Mauliola Housing Navigation Service Center tion. While Mr. Kong lived in a A Charleston jury found Mr.
the nation, according to fed- in Honolulu, among the new efforts in Hawaii to reduce the rising homeless population. tight 49-square-foot space with Roof guilty on Dec. 15 in the ra-
eral data—but some advocates just a small cot, the landscaped cially motivated killing of nine
worry some of the state’s ac- spurring a debate. Some ob- end up on the streets,” said The state budgeted $19 mil- complex has a recreation cen- black worshipers gathered for
tions could ultimately make it servers aren’t in favor of using Sheila Beckham, chief execu- lion on homeless services in ter, a shuttle service, a bike- Bible study at Emanuel African
harder for the state to house emergency declarations for tive of Waikiki Health, which the 2016 fiscal year that share program and full-time se- Methodist Episcopal Church in
its needy residents. such a complex issue as home- operates the Next Step shelter ended June 30. The governor’s curity guards. The homes are June 2015. In the second phase
Hawaii’s homeless popula- lessness. And shelter providers in Honolulu, and estimates it emergency declarations freed equipped with solar panels and of the trial, the same jury will
tion increased by nearly 36% say the new regulations, re- will lose 100 beds. up another $7.5 million. The supplied with donated toiletries decide whether Mr. Roof, who
since 2010, amid a surge in the quiring more personal space Scott Morishige, the state’s state has budgeted $30 million from the hotel industry. is 22 years old and white,
cost of living, even as the for homeless individuals in homeless coordinator, said the for homeless services in 2017. Mr. Kong, a retired welder should face the death penalty
number of homeless people shelters, and more toilets and state is reviewing proposals Despite that, the state’s who lives off Social Security, or life in prison.
overall has declined nation- showers, would result from shelters and couldn’t homeless population in- said he started living out of his Death-penalty expert David
wide. The crisis has gotten so in hundreds of fewer beds. speculate about how many creased 4% between 2015 and car in February when his land- Bruck represented Mr. Roof
bad that Democratic Gov. Da- Eight shelter providers re- beds would be available after- 2016 to nearly 8,000 people, lord evicted the tenants in his during the first part of his trial,
vid Ige has repeatedly declared cently estimated that they ward. according to an annual Janu- prior property, and he couldn’t but Mr. Roof has decided to be
a state of emergency—a step would collectively drop from Shelter providers should ary survey. More than half of find another apartment. his own lawyer in the penalty
usually reserved for natural di- 1,841 shelter beds to 1,179 beds “be able to meet minimum that population slept on the The stay in the shipping phase and recently told the
sasters—which allows state of- under the new requirements, standards required by the streets, according to the fed- container helped turn his life court he won’t be calling wit-
ficials to bypass regular union said Kimo K. Carvalho, director law,” Mr. Morishige said. “We eral data. around, he said. He has since nesses or offering evidence on
and contract rules in providing of community relations for the are really trying to build a Mr. Morishige said those moved to an apartment. Before his mental condition. Typically,
shelter. Institute for Human Services, housing-focused system aimed numbers don’t reflect the an outreach worker helped a defense lawyer would discuss
But those moves, as well as which manages the Hale Mau- at moving people to perma- state’s progress since the start him get into the shelter, he a defendant’s state of mind and
Hawaii’s new criteria for all liola center. nent housing as quickly as pos- of 2016. Though the homeless said, “I didn’t know how I was personality in trying to per-
state-funded shelters, are “A lot of people are going to sible.’’ population increased again, going to live.” suade a jury to choose life over
the death penalty.
Judge Gergel ruled Mr. Roof
Cities, States Set Up Deportation Legal Funds

competent in November, but
Mr. Roof’s defense team re-
quested a new competency
hearing given Mr. Roof’s plan
BY ALEJANDRO LAZO courts have a constitutional tion.” New York City already to essentially forgo mounting a
right to counsel, a role filled by has such a program. case to spare his own life.
SAN FRANCISCO—Demo- public defenders if they can’t Chicago Mayor Rahm Eman- “The defendant’s announce-
cratic lawmakers in some cit- afford a private lawyer. But no uel recently created a legal- ment that he will not defend
ies and states are setting aside such guarantee exists for peo- protection fund, pledging $1 himself against the death pen-
millions of dollars to pay legal ple in immigration court. million as an initial invest- alty—following a government
fees for immigrants who The Trump transition team ment. presentation that is expected
face deportation under the didn’t respond to a request to In San Francisco, Mayor Ed to involve more than 38 addi-
RICHARD VOGEL/ASSOCIATED PRESS
Trump administration. comment. Lee has set aside $7.5 million tional witnesses and hundreds
Mayors in Los Angeles, The Democratic-controlled in grants to groups that pro- more exhibits—raises in espe-
Chicago and San Francisco state Legislature in California vide immigration-related ser- cially stark fashion the ques-
have said they would estab- will consider a bill in early vices in the city. tion of whether the defendant
lish special funds to provide 2017 that would provide for But Mr. Lee rebuffed a $5 is actually unable to defend
attorneys for such immi- the legal defense of immigrants million plan by the city’s pub- himself,” Mr. Bruck and his col-
grants. Critics say the mea- and could cost the state be- lic defender to hire 10 attor- leagues wrote in a motion filed
sures are an inappropriate tween $10 million and $80 mil- neys and seven support staff, on Thursday.
use of taxpayer dollars. lion annually. said Jeff Adachi, the public de- In a written ruling Monday
The moves intensify a loom- Pro-immigration activists demonstrated on Dec. 20 in Los Angeles, A spokeswoman for the fender. evening, Judge Gergel said a
ing standoff over immigration a ‘sanctuary city’ that won’t help officials deport illegal migrants. bill’s author said details are Mr. Adachi said the mayor’s court-appointed psychiatrist re-
between Democratic strong- still being worked out. aides expressed concern that evaluated Mr. Roof in two ses-
holds and President-elect Don- immigrants unless they have system provides,” Los Angeles In New York, Democratic San Francisco could be tar- sions over New Year’s weekend
ald Trump. Mr. Trump has said committed a serious crime. Mayor Eric Garcetti said, an- Gov. Andrew Cuomo has said geted by the Trump admin- and concluded that he re-
he would block federal funding “People who have built nouncing the creation of a $10 he would also create a state- istration if it provided the de- mained competent. The judge
for “sanctuary cities,” which their lives in America have million immigrant legal de- wide fund “to ensure all immi- fense directly. The mayor’s said the serious nature of the
refrain from helping federal of- rights, and they deserve all of fense fund in December. grants, regardless of status, office didn’t respond to re- proceedings had warranted the
ficials deport undocumented the protections that our legal Defendants in criminal have access to representa- quests to comment. re-evaluation.
A4 | Tuesday, January 3, 2017 P W L C 10 11 12 H T G K B F A M 1 2 3 4 5 6 7 8 9 O I X X ***** THE WALL STREET JOURNAL.
U.S. NEWS
The Method in Trump’s Messaging Habits chip with the new president.
He is seeking to control
the agenda. Early-morning
tweets have a way of estab-
lishing what everyone else
will talk about that day. They
also have had a way of up-
CAPITAL JOURNAL staging the man who still
GERALD F. SEIB happens to be the president,
Barack Obama, annoying the
White House and potentially
I
it method or madness? S creating confusion abroad
That is the question about who really is in charge.
perplexing the world as Thus did Mr. Trump tweet
President-elect Donald that the U.S. should veto a
Trump continues his unorth- United Nations Security
odox campaign-season com- Council resolution condemn-
munications habits. He ing Israeli settlements on the
tweets, apparently randomly. West Bank before that reso-
He wades into subjects that lution was even formally de-
he could eas- bated, and that the U.S.
ily avoid. He should be prepared to en-
MARY SCHWALM/ASSOCIATED PRESS

picks fights. large its nuclear-weapons ar-
Late Monday, senal soon after Russian
he tweeted President Vladimir Putin sug-
of North Ko- gested Russia might do the
rean hopes same. In both cases, the
of developing a nuclear question became what the
weapon that could reach the new president thought as
U.S.: “It won’t happen!” much as what the current
It is a risky approach. By president might do.
weighing in on all sorts of President-elect Donald Trump has said that a good way to understand his approach is to read his book, ‘The Art of the Deal,’ above. He is creating rabbits for
matters large and small, Mr. others to chase. For two
Trump already may be in nents made consistently in a sometimes seemed to culti- the final position. ing them happy either. weeks Mr. Trump nursed
danger of devaluing the most long presidential campaign. vate chaos in preparing the The best example may be “That was the surest sig- along the idea that he might
valuable asset any president In fact, there seem to be ground for his initiatives. Mr. the way Mr. Trump has ap- nal to the Chinese that pick Mitt Romney as secre-
has, which is the bully pulpit. specific objectives behind Gingrich also predicts the proached China, a country things are going to be differ- tary of state. Ultimately, he
Will any individual message many of Mr. Trump’s seem- style won’t change: “My ad- with which he figures to have ent,” says Mr. Gingrich. didn’t—but he sparked news
from the new president have ingly scatter-shot missives. vice is to relax. It’s going to plenty of tough negotiations Then, when the Chinese stories suggesting he was
the impact he wants if it is Often, say those who know be this way for eight years.” on trade and military maneu- navy snatched an American reaching out to former ene-
lost in the static of running him, he is posturing or posi- So what might Mr. Trump vering in the South China underwater drone from the mies, and distracting from
commentary? tioning in pursuit of broader be trying to accomplish? Sea. His opening bid came South China Sea, Mr. Trump less-beneficial topics such as
It’s also hard to argue that goals. He doesn’t mind roil- There are three likely goals: when decided to accept a call tweeted out a message to the potential conflicts of interest
a presidential communica- ing the waters in the pro- He is positioning himself from the president of Tai- Chinese that the drone in his administration.
tion can have the depth, tex- cess—and, as a consequence, for a negotiation or a deal. wan, a step that was sure to wasn’t that important and Certainly there is danger
ture and subtlety often re- some of what he says isn’t to Mr. Trump has said that a rile Beijing. He then followed that they could just keep it— in leaving the world unsure
quired when it comes in 140 be taken literally. good way to understand how with a series of tweets say- even as the U.S. Navy was which messages to take liter-
characters. Former House Speaker he operates is to read his ing that the Chinese don’t scrambling to try to retrieve ally, and in trying to handle
Yet it also would be a mis- Newt Gingrich, who speaks book, “The Art of the Deal,” ask for permission to take sensitive equipment. The ap- subjects as sensitive as nu-
take to dismiss Mr. Trump’s regularly with Mr. Trump, which describes his approach steps that irritate the U.S., parent goal was to lower the clear-weapons strategy on
transition-season interven- suggests the president-elect to business negotiations. And implying they shouldn’t ex- value of the drone in Chinese the fly. But it’s also likely Mr.
tions as random musings. is in this regard similar to in any negotiation, the open- pect the new president to eyes, lest they think they Trump knows exactly what
That was a mistake his oppo- Franklin Roosevelt, who ing posture isn’t the same as worry too much about keep- could use it as a bargaining he is doing.
Lighthizer Is Expected to Be Named to Trade Post

Donald Trump is expected of National Intelligence and well as economist Peter Na- sure their hiring wouldn’t vio-
to name Robert Lighthizer, a the head of the Council of Eco- varro, who will lead a new late nepotism laws.
former trade official under nomic Advisers. trade council at the Trump Ethics experts say hiring
President Ronald Reagan, to A top candidate for agricul- White House. the two poses risks under fed-
head the U.S. Trade Represen- ture secretary is Sonny Perdue, All three—as well as former eral laws. A 1967 statute for-
tative office, the first in a final a former Republican governor Nucor Corp. CEO and Trump bids officials from hiring fam-
push of appointments antici- of Georgia, two people close to adviser Dan DiMicco—have ex- ily members in agencies over
the transition said. Toby Cos- perience defending American which they have control.
By Peter Nicholas, grove, chief executive of the industry from overseas rivals. Norman Eisen and Richard
Carol E. Lee Cleveland Clinic, had been in Messrs. DiMicco and Navarro Painter, who served as chief
the running for the VA job, but have been especially critical of ethics lawyers in the Barack
MIKE SEGAR/REUTERS
and Michael C. Bender

has withdrawn his name. China. Obama and George W. Bush
pated this week as Mr. Trump The appointments would Some business groups and White Houses, respectively,
fills the remaining senior gov- mark the final steps in a tran- GOP lawmakers who back free wrote an op-ed in the New York
ernment vacancies in the run- sition that took on a fast clip trade could bristle at a lineup Times recently that said one vi-
up to his inauguration, transi- after a reorganization by Vice of officials who support tariffs able path for Mr. Trump is to
tion advisers said. President-elect Mike Pence Ivanka Trump and Jared Kushner are being considered for posts. that could sap the profits of amend the law so that he can
The president-elect is also shortly after the election. multinational companies and appoint a certain number of rel-
still considering ways to try to Since then, Mr. Trump has mission includes confronting fice, compared with under pre- raise prices for consumers, re- atives to White House posts.
bring into his administration assembled an eclectic group of China and Mexico, which Mr. vious presidents. tailers and industries that use A worse alternative is for
two family members, daughter prospective cabinet members Trump contends have taken Mr. Lighthizer has three de- imported parts. Mr. Trump to sidestep the law
Ivanka Trump and son-in-law and chief aides, some of whom advantage of the U.S. under cades of experience arguing One Trump transition ad- by not formally appointing his
Jared Kushner, who were close disagree with each other on current trade agreements. for punitive tariffs on overseas viser said the “expectation” daughter or Mr. Kushner and
advisers to his campaign. such issues as Russia and Mr. Trump has signaled a companies. among aides is that Mr. instead giving them informal,
With a nominee for trade global warming, setting the major shift in policy, threaten- Mr. Trump’s advisers have Trump’s daughter and son-in- albeit powerful roles, Mr. Eisen
czar position, Mr. Trump has stage for a potentially frag- ing China and Mexico with tar- said his pick for Commerce law will join the White House said in an interview.
four major positions to fill: the mented policy approach. iffs if they don’t right alleged secretary—billionaire investor team, though lawyers for Mr. —Ben Kesling
secretaries of Agriculture and Mr. Lighthizer will be part trade wrongs. That could carve Wilbur Ross—also could play a Trump have been working and William Mauldin
Veterans Affairs, the Director of a revamped team whose out a new role for the trade of- leading role on trade policy, as through the legalities to en- contributed to this article.
RUSSIA
NICHOLAS KAMM/AGENCE FRANCE-PRESSE/GETTY IMAGES
a member of the Foreign Rela- “We have to begin to under-

tions Committee, said in a stand that this is not an East-
© 2017 Dow Jones & Co., Inc. All rights reserved. 2DJ4445
tweet last month that being a West world, folks,” he said.

friend of Mr. Putin’s wasn’t an “This is actually more of a
Continued from Page One attribute he was hoping for in North-South world.”
American influence. The Ari- a secretary of state, referring He added, “The No. 1 goal is
zona senator has scheduled a to Mr. Tillerson’s receipt of to eliminate this cancerous
Senate hearing Thursday on Russia’s Order of Friendship. idea that exists inside of the
foreign cyberthreats to the Tillerson supporters soon Islamic religion.”
U.S. and urged tougher sanc- reached out to Mr. Rubio to ar- Two months later, Mr. Mc-
tions on Russia. gue for his confirmation. Cain, at a security conference
The opposing faction, most Evan McMullin, a former in Munich, made the opposite
prominently Gen. Flynn, sees Central Intelligence Agency of- point. He warned that the
Russia as an ally in graver ficer and aide to Capitol Hill Western rules-based order was
global conflict with Islamist ex- Republicans who ran for presi- under assault both by groups
tremism and a potential partner dent as an independent, said Rex Tillerson such as Islamic State and by
more broadly. This group is the U.S. can defeat Islamic revisionist powers such as Rus-
joined to some extent by Repub- State without Russia and the GOP senators aligned with sia. He accused Mr. Putin of ex-
a look ahead from licans who advocate cutting shouldn’t reward the Kremlin’s Mr. McCain has vowed to vote acerbating the Syrian refugee
the wall street journal. deals with Russia when they antagonism. “If we’re going to against Mr. Tillerson. Sen. Jeff crisis “as a weapon to divide
benefit the U.S. and who de-em- align ourselves with Russia Flake (R., Ariz.) said in a state- the trans-Atlantic alliance.”
phasize a foreign policy that without requiring it to stop its ment last month endorsements Both views have taken hold
EXPLORE NOW AT WSJ.COM/FOE. prioritizes the promotion of de-
mocracy and human rights.
active assaults on liberal de-
mocracy in the West, that is
of Mr. Tillerson by Mr. Gates
and former Secretaries of
in the GOP, with Gen. Flynn’s
soon entering the White House
Democrats largely side with unacceptable,” Mr. McMullin State James Baker and Condo- and Mr. McCain’s predominat-
the McCain faction and have said in an interview. leezza Rice carried “considering on Capitol Hill.
been criticizing Mr. Trump as So far, Mr. Tillerson’s full able weight” and said he “What you are seeing on
too close to Mr. Putin. The views on Russia aren’t clear. would keep an open mind. Russia within the Republican
president-elect, for his part, He has praised Mr. Putin and Mr. Trump’s election has el- Party is in some ways more a
has continued to speak dismis- opposed U.S. sanctions on Rus- evated policy makers who have symptom of realignment across
sively in recent days of the al- sia over the conflict in pushed for closer ties with the the board within American po-
legations of Russian hacking, Ukraine, but he has done so Kremlin, bringing them into litical parties,” said Matthew
and he has promised to reveal principally as an advocate for conflict with hawks such as Rojansky, director of the Wash-
more information on the sub- Exxon’s business endeavors. Mr. McCain. Gen. Flynn, for ex- ington-based Kennan Institute.
ject Tuesday or Wednesday. Former Defense Secretary ample, was advocating for a Conservative commentator
Meanwhile, senators are pre- Robert Gates, whose consul- rapprochement with Russia in Pat Buchanan applauded the
paring for confirmation hear- tancy counts Exxon as a client December 2015, when he took Tillerson nomination as a way
ings on former Exxon-Mobil and who proposed Mr. Tiller- a Russian government-spon- for Mr. Trump to start break-
Corp. Chief Executive Rex Til- son as a candidate to Mr. sored trip to Moscow for an ing the hold of senators such
lerson, whom Mr. Trump has Trump, last month told PBS’s anniversary of RT, a state- as Mr. McCain on the party’s
nominated as secretary of state. Charlie Rose that it would be a sponsored television network. Russia policy.
Republican lawmakers aligned mistake to think that Mr. Til- Gone are the days when the “Early in his presidency, if
with Mr. McCain are planning lerson is “best friends with communist East and the capi- not before, Trump is going to
to grill Mr. Tillerson, who has Vladimir Putin.” talist West fought over how have to impose his foreign pol-
dealt with Mr. Putin for years The Trump transition team the international system icy on his own party and, in-
while doing business in Russia, didn’t respond to requests for should work, Gen. Flynn ar- deed, upon his own govern-
on how the former executive comment from both Mr. Tiller- gued there, proposing that the ment,” Mr. Buchanan wrote on
would approach the Kremlin. son and Gen. Flynn. U.S. and Russia team up to the conservative website
Sen. Marco Rubio (R., Fla.), Despite the tension, none of counter Islamic extremism. Townhall last month.
THE WALL STREET JOURNAL. Tuesday, January 3, 2017 | A5
2016
MOST WATCHED.
MOST TRUSTED.
Source: Nielsen, Live+SD, 2016 (12/28/15-12/25/16), tops all of basic cable with Total Day (M-Su 6a-6a) and Prime (M-Su 8-11p), P2+ (000).
Subject to qualifications which will be made available upon request.
A6 | Tuesday, January 3, 2017 THE WALL STREET JOURNAL.
WORLD NEWS
Islamic State Claims Istanbul Shootings
Extremist group says carried out by Kurdish insur-
gents, have killed more than
it targeted Turkey to 300 people over the past year.
retaliate for military The two biggest of the three
opposition parties in parlia-
campaign in Syria ment called on the government
to account for security failures
Islamic State claimed rein the wake of the New Year’s
sponsibility Monday for a New attack, charging the adminis-
Year’s attack on an upscale Is- tration with failing to fulfill its
tanbul nightclub that killed at responsibilities as some law-
least 39 people, saying it tar- makers called for the cabinet’s
geted Turkey in retaliation for resignation.
military operations against the The public response to the
extremist group in neighbor- attack was a display of unity,
ing Syria. with celebrities, politicians and
popular media outlets condemn-
By Maria Abi-Habib in ing the attack and calling for
Beirut and Emre Peker solidarity. Yet some people also
in Istanbul took to social media to condemn
OZAN KOSE/AGENCE FRANCE-PRESSE/GETTY IMAGES

the government and its conser-
Turkish security forces said vative supporters. Turkish lead-
they were hunting for the lone ers have characterized the at-
gunman who opened fire with tack as an attempt to foment
an assault rifle on revelers in unrest in the multicultural and
a popular party spot overlook- ethnically diverse society.
ing the Bosporus before ditch- Previous attacks inside Tur-
ing his weapon and slipping key thought to have been the
away early Sunday. responsibility of Islamic State
Authorities released two have killed and wounded scores
photographs of the suspect, a of Muslims. On Monday, Islamic
young looking male with State portrayed the New Year’s
short hair and no significant attack as an assault on Chris-
beard or mustache, clad in a A mourner on Monday outside the Reina nightclub, where photos of some of the victims of the New Year’s attack were displayed. tians. It described the targeted
puffy, black winter jacket. Reina nightclub as “one of the
After President Recep Tayyip man as a “soldier of the ca- official said it was too soon to ter a suicide bombing at a New Year’s attack, prohibiting most well-known nightclubs
Erdogan chaired a regular cabi- liphate” and attributed the say definitively the militant wedding that killed more than reporting of information other where Christians were celebrat-
net meeting Monday, Deputy group’s actions to Turkish air- group mounted the attack. 50 people. Turkey blamed the than what is released by au- ing their pagan holiday.”
Prime Minister Numan Kurtul- strikes and artillery attacks it Islamic State hasn’t previ- attack on the jihadist group. thorities. The country imposed According to Turkish au-
mus said authorities have the says have killed Muslims. ously said it was responsible Turkish forces are now clos- a state of emergency after the thorities, 26 of the 39 victims
suspect’s fingerprints and basic “It is natural for ISIS to for attacks blamed on it by ing in on the extremists’ failed coup attempt in July. were Turkish dual nationals or
appearance and are close to claim this,” a Turkish official Turkish authorities. stronghold of al-Bab and Turk- Turkey, a member of the foreigners, including people
identifying him. He said eight said of Sunday’s attack. ISIS is Turkey’s military, along with ish jets and artillery pounded North Atlantic Treaty Organi- from Saudi Arabia, Jordan, Leb-
other people were detained in an acronym for Islamic State. Syrian rebels, has been fight- Islamic State targets on Mon- zation, has been an important anon, India, Belgium, Morocco,
connection with the attack, and But the official pointed to a dis- ing Islamic State in Syria in a day, the military said. ally of the U.S. in the battle Iraq, Tunisia, Kuwait, Russia,
were being questioned Monday crepancy in the group’s state- push that Turkish officials say The government, in what against Islamic State in Syria, Syria, Canada and Israel.
by the counterterrorism police. ment, which said the attacker has killed more than 1,000 mil- has become an increasingly and has been the target of a —Noam Raydan
Islamic State’s propaganda used grenades. Authorities said itants since it began in August. routine step, has imposed a series of terrorist attacks. The and Ali A. Nabhan
arm characterized the gun- only a firearm was used. The The campaign was launched af- media ban on coverage of the attacks, some of which were contributed to this article.
Russian Move Imperils Afghan Peace Deal Terror Group

Says Attacks
BY JESSICA DONATI and Pakistan to discuss peace
AND HABIB KHAN TOTAKHIL
KABUL—Russia is hindering
and stability in Afghanistan,
may be part of a broader effort
to counteract U.S. influence in
In Baghdad
the removal of one of Afghani-
stan’s most notorious warlords
the Central Asian nation.
“For the Russians, it’s just
Are Its Doing
from a United Nations sanc- putting their foot down,” a for- BY GHASSAN ADNAN
tions list, Afghan and Western eign diplomat said. “I haven’t AND BEN KESLING
officials said Monday, a move seen any good reason for it.”
that could complicate efforts to Under the accord, Mr. Hek- Islamic State claimed a
implement a peace deal seen matyar was to be included in spate of bombings in Baghdad
AREF KARIMI/AGENCE FRANCE-PRESSE/GETTY IMAGES
as a model for a similar ac- government decisions and that Iraqi officials said had
cords with the Taliban and members of Hezb-e Islami killed at least 28 people, days
other insurgent groups. were to be integrated into Af- after the Iraqi army and allied
The U.S. and the North At- ghanistan’s military and gov- forces renewed their offensive
lantic Treaty Organization ernment ministries. The group to retake the group’s strong-
hailed the agreement reached was also to receive unspecified hold in Mosul.
in September between the Af- compensation for what is de- The terror group on Monday
ghan government and Hezb-e scribed in the accord as previ- claimed responsibility for three
Islami, an Islamist political ously unfair exclusion from Af- blasts in the Iraqi capital, two
and militant group led by Gul- ghanistan’s government. at hospitals and a third in Sadr
buddin Hekmatyar as a hope- A spokesman for Afghan City, a predominantly Shiite
ful sign in efforts to end President Ashraf Ghani said Muslim neighborhood that is a
bloodshed in Afghanistan. Monday that all countries frequent target of its attacks.
Under terms of the deal, the should cooperate to build In the Sadr City attack, day
Afghan government asked the Moscow is delaying the removal of sanctions on Gulbuddin Hekmatyar, seen on signs held by a supporter. peace and “support intra-Af- laborers gathered around a ve-
U.N. in December to take Mr. ghan peace talks and the peace hicle in front of a market be-
Hekmatyar off its list of those up to six months to provide U.N. officials didn’t respond the far more powerful Taliban deal with Hezb-e Islami.” fore it was detonated, thinking
subject to international sanc- reasoning for its opposition. to requests to comment. who are weary of fighting to Hezb-e Islami spokesman the driver was looking to hire
tions for ties to al Qaeda. Russian Foreign Ministry Hezb-e Islami currently has unseat the Kabul government. Hameed Azizi urged the Afghan people, officials said.
During the 10-day period spokeswoman Maria Zakharova little military and political in- Some of the officials said government to put pressure on Two additional unclaimed
for member states to respond, on Monday said Moscow had put fluence in Afghanistan, but Af- they believe Russia’s move, the U.N. and foreign govern- bombings also rocked the city,
Russia said it needed more the delisting on hold but hadn’t ghan and U.S. officials view the disclosed as it was hosting a ments to remove Mr. Hekmatyar officials said. The five explo-
time to consider the request. blocked it. She didn’t explain accord as a template for peace meeting last week in Moscow from the sanctions list and pro- sions wounded 49 people, they
According to U.N. rules, it has why Russia needed more time. agreements with members of of representatives from China ceed with the peace deal. added.
Angola, in Economic Crisis, Gears Up for a Leadership Shift

BY GABRIELE STEINHAUSER current defense minister, as
Mr. dos Santos’s successor, Crude Awakening
TALATONA, Angola—This and authorities have stepped The decline in oil prices has pummeled Angola’s tax
upmarket new suburb on the up pressure on journalists and revenue and driven up government debt.
edge of Angola’s capital stands antigovernment activists.
as a ghostly monument to the The deep stake that Mr. dos Tax revenue Government debt
challenges facing one of Africa’s Santos’s family holds in the in Angolan kwanza as a percentage of GDP
biggest oil producers as it economy also is likely to re-
5 trillion 100%
braces for its first political tran- main undiminished. 2017
sition in almost four decades. Angola’s second-highest 73.6%
GABRIELE STEINHAUSER/THE WALL STREET JOURNAL
Total
Dozens of gated communities court ruled last week that the 4 80
From oil
sit mostly empty. They were president had acted legally
built during the first half of this when he appointed his daugh- 3 60
decade for a middle class that ter Isabel chief executive of the
never materialized and a for- state oil company Sonangol,
eign elite that largely packed up the centerpiece of an economy 2 40
and left when a dizzying oil- that derives 96% of its exports
price boom went bust in 2014. from the sale of crude. 1 20
In glitzy shopping malls, The president’s daughter
stores struggle to stock their presides over a business em- 0 0
shelves, as a free-falling local pire, while her brother Filom-
currency and dollar shortages eno heads Angola’s sovereign- 2012 ’13 ’14 ’15 ’16* ’17† 2012 ’13 ’14 ’15 ’16** ’17**
batter imports. wealth fund. *Revised budget †Budget proposal **Estimates
Now, in its worst economic “There is a lot of discontent Fisherwoman Maria Antonia Jorge struggles to pay her sons’ tuition. Sources: Eaglestone Securities (tax); IMF (debt) THE WALL STREET JOURNAL.
crisis since emerging from with dos Santos and above all
civil war in 2002, Angola is his family,” said Filomeno Vie- peacetime performance on re- owes. In April, the government struction companies have ever, Mr. dos Santos’s rule has
gearing up for its first leader- ira Lopes, an economist and se- cord—a disaster for a country entered bailout negotiations stopped the beginnings of a taken a turn for the worse.
ship change in 37 years follow- nior member of the Democratic whose population of 26 million with the IMF and abandoned middle class. Angola’s cur- Maria Antonia Jorge, presi-
ing the announcement in De- Bloc, a small opposition party. is growing 3.2% annually. them three months later. Since rency, the kwanza, has dropped dent of a cooperative of fish-
cember that José Eduardo dos A closer look at Luanda’s Meanwhile, government then, the central bank has used to an official rate of 165 to the erwomen, has sent two sons to
Santos won’t seek another sparkling skyline, with its un- debt has jumped to 78% of 18% of its foreign-currency re- dollar from around 97 in 2014. university with her earnings
term as president in elections finished skyscrapers, reveals gross domestic product, ac- serves to keep some imports On the black market, a dollar from selling salted sardines
scheduled for August. how sharply the country’s cording to IMF estimates, flowing into the country. fetches about 485 kwanza. and mackerel.
Whether the change will economy has plummeted. In the from just 41% when oil prices It is a far cry from the fast- Still, the announcement that Today, the 45-year-old Ms.
bring fresh remedies to the streets below, ordinary citizens plummeted in 2014. charging economy that enabled Mr. dos Santos won’t run for Jorge worries that her boys
southern African country’s wrestle with 41% inflation and Little is known about where Angola to buy huge stakes in president again surprised may never graduate because
economic woes is open to chronic shortages of staples. or from whom the government Portugal’s banking and energy many. In the capital Luanda, the rising cost of salt and de-
question. The ruling Popular The International Monetary is borrowing—let alone at what sectors over the past decade banners still celebrate his Au- clining demand for her fish
Movement for the Liberation Fund expects that Angola’s rate—so analysts warn about and help its former colonial gust re-election as leader of the mean she is straining to pay
of Angola, or MPLA, has economy will have zero growth the difficulty of predicting its ruler avoid bankruptcy. MPLA, with 99.6% of the vote. her sons’ tuition. “There is
tapped João Lourenço, the in 2016, marking its worst ability to pay back what it Now, layoffs at oil and con- For many Angolans, how- this fear,” she said.
WORLD NEWS
Israel Lawmakers
Plan to Push
Annexation Bill
BY RORY JONES West Bank are subject to mili-
tary law, but if the territory
ATEF SAFADI/EUROPEAN PRESSPHOTO AGENCY

TEL AVIV—Members of Is- they occupy is annexed they
rael’s governing coalition said come under civilian Israeli
they would propose legislation law.
after Donald Trump’s inaugura- Mr. Bennett has advocated
tion to annex a West Bank Jew- for Israel to abandon its long-
ish settlement for the first time, standing commitment to estab-
defying the United Nations and lishing a Palestinian state as
the international community. part of a future peace deal—a
If approved, such a law position that in part spurred
would mark a stark departure the U.S. decision last month to
from decades of Israeli policy allow the U.N. to pass a rare
tolerating and even promoting censure of Israel that deemed
settlements but not considering settlements illegal. A party leader said he will put forward a bill to make Ma’ale Adumim, seen here behind an East Jerusalem neighborhood, part of Israel.
them part of the country proper. His plan to push for annexa-
Naftali Bennett, leader of tion of a settlement appeared vast majority of governing co- of the parties in Mr. Netan- who led the drafting of the the Israeli public,” said Anat Ben
the pro-settlement Jewish to be in response to that U.N. alition members, who account yahu’s coalition signed off on bill. “From my side, I’m going Nun, spokeswoman for Peace
Home party, said Monday that resolution and a subsequent for 67 out of 120 seats in the support for the bill last year. to push it forward once we Now, a nonprofit that advocates
after the new U.S. president speech by U.S. Secretary of Knesset. It already has the Those from the ultraorthodox pass President Obama.” for a two-state solution to the
takes office on Jan. 20, he State John Kerry that also crit- support of some of the 30 law- United Torah Judaism party, A spokesman for Mr. Netan- Israeli-Palestinian conflict.
would put to an initial vote in icized Israel over settlements. makers from Mr. Netanyahu’s which has six seats, haven’t yahu didn’t respond to re- A spokesman for the Pales-
parliament a bill to make the Jewish Home holds enough Likud party and all of Jewish formally offered their support. quests to comment. tine Liberation Organization
settlement Ma’ale Adumim part seats in Prime Minister Benja- Home’s eight seats. It would have to pass a Some members of Likud didn’t respond to requests to
of Israel. Mr. Trump has indi- min Netanyahu’s fragile ruling Members of the Likud party number of votes in the parlia- have come out against the bill, comment.
cated he will ease U.S. pressure coalition to force a collapse of and Mr. Bennett’s Jewish ment before becoming law, a fearing it will inflame tensions Mr. Netanyahu’s official pol-
on Israel to curtail settlements the government if it wants to. Home initially drafted a bill process likely to take months. with the international commu- icy is to support the two-state
when he is in the White House. In recent months, Mr. Netan- last year to annex Ma’ale Ad- “Right now, the prime min- nity further. solution. But he has also sent
“The conclusion is to stop yahu has acquiesced to many umim—one of the largest Jew- ister asked us not to do any- Critics said it is designed to mixed signals about his inten-
the march of folly toward a of the party’s demands to ex- ish settlements in the West thing active in the short term spur public debate in Israel tions, allowing an accelerated
Palestinian state and to imple- pand or maintain settlements Bank with 37,000 residents— as he is going to consider the about annexing the major expansion of settlements over
ment Israeli law in Ma’ale Ad- on land Israel captured in the but ultimately decided not to move with the President-elect West Bank settlement blocs. the past year and supporting a
umim,” Mr. Bennett said in a 1967 Middle East war. push it while the Obama ad- Trump and will work to get “It’s a way of turning the recent bill that plans to retro-
statement issued from the set- To become law, the bill ministration was still in office. support,” said Yoav Kish, a idea of annexation into some- actively legalize some settle-
tlement. Jewish settlers in the would need the support of the Lawmakers from all but one member of the Likud party thing that’s more legitimate for ments built on Palestinian land.
Police Question Netanyahu Over Gifts

BY RORY JONES have never been charged by oratories LLC, a subsidiary of ther contact with police inves-
GALI TIBBON/AGENCE FRANCE-PRESSE/GETTY IMAGES

police. A spokesman for Mr. Estée Lauder Cos., was among tigators. The spokesman de-
TEL AVIV—Israeli police said Netanyahu didn’t respond to a those reported by the daily clined to comment on details
they questioned Prime Minister request to comment. Haaretz newspaper and other of the discussions with police.
Benjamin Netanyahu for three “We pay attention to publi- media to have given Mr. Ne- Opposition lawmakers held
hours at his official residence cations in the media,” Mr. Ne- tanyahu gifts. Haaretz re- up Monday’s probe as a sign
on Monday on suspicion of re- tanyahu told a Monday meet- ported that Mr. Lauder told that Mr. Netanyahu was unfit to
ceiving unlawful gifts. ing of his Likud party in the police he had bought suits for lead.
Local media outlets had in Israeli Knesset, or parliament, Mr. Netanyahu and provided “As the investigation deep-
recent days reported police according to Israeli television. hospitality to the prime minis- ens, Netanyahu’s grip on the
were considering launching a But regarding an investigation, ter’s 25-year-old son, Yair, government will weaken, and
criminal probe on the matter. he said, “there will be nothing during his time overseas. then the people will look for
Mr. Netanyahu and his family because there is nothing.” A spokesman for Mr. Lau- an alternative,” said Isaac Her-
have previously been subjects Ronald Lauder, president of der said Mr. Lauder had spo- zog, leader of the left-wing Zi-
of allegations of corruption, the World Jewish Congress ken with Israeli authorities in onist Union party, according to
which they have denied. They and chairman of Clinique Lab- October but has had no fur- Army Radio. Prime Minister Benjamin Netanyahu at the Knesset on Monday.
WORLD WATCH
SOMALIA INDONESIA VENEZUELA
Suicide Bomber Fire on Ferry Leaves
Kills Three at Airport At Least 23 Dead
Federal Bond Issue
Raises $5 Billion a different kind
A suicide bomber detonated
an explosives-laden vehicle at a
security checkpoint near Mogadi-
shu’s international airport Mon-
day, killing at least three people,
At least 23 people were killed
and 17 others were missing after
a ferry caught fire off the coast
of Indonesia’s capital Sunday, of-
ficials said.
Venezuela raised $5 billion by
selling bonds to state-run Banco
de Venezuela, a finance ministry
official said Monday, as the gov-
ernment grapples with a punish-
of hero
AS THE SON AND GRANDSON OF VETERANS,
a Somali police officer said. The vessel was carrying more ing economic crisis and mounting
Capt. Mohamed Hussein said than 230 people from Jakarta’s default concerns.
I KNOW THOSE WHO SERVE ARE HEROES.
the bomb detonated as security port of Muara Angke to Tidung, The securities, which carry a Military caregivers, who care for our wounded
forces were searching cars at the a resort island in the Kepulauan coupon of 6.5% and mature in veterans at home, are heroes too.
checkpoint, a few hundred yards Seribu chain, when it caught fire, 2036, were sold on Dec. 29 in
from the main base of the Afri- the officials said. a private transaction, Venezu-
If you are a military caregiver, access helpful
can Union peacekeeping mission. An official from the disaster ela’s first sovereign-bond issu-
The checkpoint is close to management agency said the ance since 2011, the official resources and connect with other caregivers at:
United Nations offices and the fire gutted about half of the said. The sale is being man-
Peace Hotel, which is often fre- ship. He said about 22 injured aged by a subsidiary of China’s HiddenHeroes.org
quented by foreigners and officials. victims were taken to hospitals. Haitong Securities Co., the offi-
A second blast and heavy gunfire A search for those still miss- cial said.
could be heard shortly afterward. ing was under way involving The bond sale caught many The Elizabeth Dole Foundation’s Hidden Heroes initiative
The al Qaeda-linked Islamic about 10 ships, the agency by surprise, especially lawmakers increases support for America’s 5.5 million military caregivers.
extremist group al-Shabaab said. who decried that it was never
quickly claimed responsibility for Witnesses told local television submitted to the National As-
the attack through its radio arm, that the fire broke out about 15 sembly, which by law is sup-
Andalus. Despite being ousted minutes after the ship left posed to authorize any public-
from most of its key strongholds Muara Angke. The cause of the debt transactions.
across large parts of south and blaze was’t clear. Some passen- Part of the funds, the official
central Somalia, the homegrown gers told local media that they said, were destined to settle
group continues to wage deadly first saw smoke coming from debts that President Nicolás Ma-
attacks across the country. the ferry’s engine. duro’s administration has accrued
The assaults have threatened Ferry accidents are common with importers of food and med-
the country’s attempts to rebuild in Indonesia, the world’s largest icine. Those basics have become
from decades of chaos. archipelagic nation. scarce in Venezuela.
—Associated Press —Associated Press —Mayela Armas
YOSHIO TSUNODA/AFLO/ZUMA PRESS
Ryan Phillippe,
Hidden Heroes Ambassador
ROYAL OPENING: Japanese Emperor Akihito, with Empress Michiko, addressed well-wishers during the
annual New Year’s Greetings at the Imperial Palace in Tokyo on Monday. Some 96,000 people attended.
WORLD NEWS
Scores Killed in Brazil Prison Riot
JUNG YEON-JE/AFP/GETTY IMAGES

Lengthy fight between Brazil’s north, and the coun-
try’s most powerful criminal
two rival drug gangs in gang, the Primeiro Comando
Manaus leaves around da Capital, or PCC.
The PCC started in São
60 inmates dead Paulo prisons and has spread People at a Seoul train station
its activities to other states in watch Kim Jong Un’s speech.
BY ROGERIO JELMAYER recent years, local authorities
SÃO PAULO—About 60 in-

mates were killed in a prison
said. The gang dominates sev-
eral crime categories, includ-
ing drug trafficking and bank
Pyongyang
Is Close to
MARCIO SILVA/AGENCE FRANCE-PRESSE/GETTY IMAGES

riot sparked by a fight be- robberies, investigators said.
tween rival drug gangs in the The São Paulo-based gang
Brazilian city of Manaus, local has sought to expand its influ-
authorities said.
The uprising began Sunday
afternoon at the Anísio Jobim
ence to areas bordering Co-
lombia and Peru, both sources
of cocaine, to eliminate mid-
Launching
prison complex and lasted
more than 17 hours. Two
prison-based gangs have been
dlemen in the drug trade, Mr.
Florencio said. He added that
most of the dead in the riot
Test ICBM
battling for control of drug were PCC members. BY JONATHAN CHENG
sales across the region, includ- In recent months, prisons in
ing Manaus, the capital of Am- Brazil’s north and northeast SEOUL—North Korea’s
azonas state, said Pedro Flor- have been the scene of violent leader Kim Jong Un said his
encio, the state’s secretary for inmate clashes as the PCC con- country is in the final stages
prisons administration. Inmates’ relatives gathered on Monday at Anísio Jobim prison for information on the deadly battle. fronts local gangs, Mr. Floren- of preparing for a test launch
Some inmates were decapi- cio said. of an intercontinental ballistic
tated, making it difficult to Police and investigators taken hostage during the riot ple, but Mr. Florencio said the The carnage in Manaus missile, which would mark an
tally the dead, Mr. Florencio have found just parts of some were released early Monday crowded conditions weren’t amounts to Brazil’s second- advance in its attempt to build
said. bodies, so a final death count without any reported injuries. the cause of the riot. biggest prison-related death a nuclear weapon capable of
“The scene inside the can be given only after DNA The prison where the kill- He said the violence was toll after the 1992 massacre of reaching the U.S.
prison is terrible. It’s shocking testing, the Amazonas state ings took place houses 1,229 sparked by a power dispute 111 inmates in São Paulo’s Mr. Kim, delivering a New
to see how brutal a person can security secretariat said. inmates, more than twice its between the two gangs: Famí- Carandiru prison, which was Year address Sunday from
be,” he said. Dozens of prison guards intended capacity of 500 peo- lia do Norte, which is based in demolished after that uprising. Pyongyang on state television,
also said North Korea would
continue to bolster its military
Fresh Arrests Made in South Korean Scandal

capabilities, with an emphasis
on pre-emptive nuclear strikes,
according to a transcript of his
remarks by the Korean Central
BY JONATHAN CHENG Ms. Park of helping Ms. Choi, controversial Samsung merger News Agency. Mr. Kim said
AND EUN-YOUNG JEONG her longtime friend, extract in 2015 in exchange for finan- North Korea would pursue nu-
donations from some South cial contributions, said Hong clear development until the U.S.
SEOUL—The daughter of a Korean companies, which Ms. Jung-seok, a spokesman for halts its annual military exer-
close confidante of South Ko- Choi then used for personal the special prosecutor tasked cises in South Korea, reiterating
rean President Park Geun-hye expenses. The scandal has with leading the investigation a longtime demand.
was detained in Denmark, gripped South Korea and led into the scandal. While North Korea has
bringing into custody the last to huge demonstrations calling A spokeswoman for Sam- made progress over the years
remaining figure at large in a for Ms. Park’s ouster. sung declined to comment, toward being able to mount a
unfolding scandal that has led A lawyer for Ms. Chung, Pe- and a spokeswoman for the weapon on a ballistic missile,
to the impeachment of Ms. ter Blinkenberg in Copenha- NPS declined to comment, cit- experts have said the isolated
Park. gen, said his client denied ing the ongoing investigation. country is likely still about
SCHÜTZE RENÉ/POLFOTO/ASSOCIATED PRESS
Officials in Seoul said Dan- wrongdoing and added that The two arrests come as two or three years away from
ish authorities on Sunday had his job now was to prevent an South Korea’s Constitutional threatening the U.S. homeland.
arrested Chung Yoo-ra, the 20- extradition to South Korea. Court deliberates the fate of Mr. Kim didn’t make any
year-old daughter of Choi The detention of Ms. Chung Ms. Park, who lawmakers in reference to the recent U.S.
Soon-sil, Ms. Park’s close followed the arrest over the December voted overwhelm- presidential election or to
friend and the suspected bene- weekend of Moon Hyung-pyo, ingly to impeach. The court President-elect Donald Trump.
ficiary of an alleged influence- the head of South Korea’s Na- has until early June to decide On Monday, Mr. Trump
peddling scheme that has en- tional Pension Service, in rela- whether Ms. Park remains in tweeted “North Korea just stated
snared the country’s best- tion to allegations that the office. that it is in the final stages of
known conglomerates as well government-run pension fund, —Charles Duxbury developing a nuclear weapon ca-
as President Park. the world’s third-largest, cast in Stockholm pable of reaching parts of the
Chung Yoo-ra after a court hearing Monday in Aalborg, Denmark. Prosecutors have accused a critical vote to approve a contributed to this article. U.S. It won’t happen!”
FROM PAGE ONE
RENT
Continued from Page One
on high-end properties.
Now, though, the number of
upscale apartments coming
onto the market appear to be
outpacing the number of rent-
ers able to move into them:
More than 50,000 new units
were rented by tenants in the
MARTY PAOLETTA
fourth quarter in the U.S., six

times the number in the year-
earlier period. But that de-
mand was overwhelmed by the
88,000 new units that were Terra House in Nashville, where new apartment construction is rising
completed in the quarter, the
most since the mid-1980s, ac- a square foot to $2.10 a square
cording to MPF. Building Binge foot—a $150 discount on a
That gap looks set to widen Major U.S. cities are expected to 1,000-square-foot apartment—
in 2017. More than 378,000 see a glut of fancy flats. and is offering one to two
new apartments are expected months of free rent.
to be completed across the New luxury apartments under Mr. Tirrill said developers
country this year, almost 35% construction, select metro areas are lowering their expecta-
more than the 20-year aver- 1997-2016 average 2017 tions about the rents they are
age, according to real estate likely to get and might try to
tracker Axiometrics Inc. New York 29,376 renegotiate loans or sell prop-
Most of the new construc- Dallas 24,600 erties, though he doesn’t an-
tion in recent years has been ticipate many foreclosures.
on the high end. Of 189,100 Atlanta 13,287 The market, he said, is taking
multifamily rental units com- Los Angeles 12,892 a “pause as we work through
pleted between the fourth some excesses at the top end.”
quarter of 2015 and the third Nashville 8,474 The bad news for landlords
quarter of 2016 in 54 U.S. met- San Francisco 4,944
is good news for tenants.
ropolitan areas, 84% were in “This is going to be one of the
the luxury category, according Source: Axiometrics Inc. best apartment markets that
to CoStar Group Inc., a real-es- THE WALL STREET JOURNAL. I’ve seen [for renters] since
tate research firm. The firm 2011,” said Ric Campo, chief
defines luxury buildings as which saw record prices in Oc- executive of Camden Property
those that command rents in tober. Rents in San Francisco, Trust, one of the country’s
the top 20% of the market. New York, Houston and San largest apartment owners.
Renters would need to Jose, Calif., all declined about “The consumer is going to
make at least $75,000 a year 1% year-to-year in 2016, ac- have much broader choice at a
to afford 88% of units cur- cording to MPF. Monthly rents lower price.”
rently under construction, ac- now average $1,248 nationally. In some more expensive
cording to CoStar. Dallas is expected to see markets, the slowdown is
The New York area alone nearly 25,000 new apartments showing signs of trickling
will be flooded with nearly delivered, compared with the down to more average-priced
30,000 new apartments in long-term average of roughly apartments. Benjamin Gable, a
2017, double the historical av- 9,000 new apartments a year, 31-year-old advertising copy-
erage, according to Axiomet- according to Axiometrics. Los writer, recently scored a $200-
rics. Roughly 85% are luxury Angeles is expected to get a-month discount on 1.5-bed-
units. roughly 13,000 new apart- room apartment in Brooklyn’s
Rising rents in the past few ments, nearly double the his- Greenpoint neighborhood.
years have helped buoy the torical average. Nashville The apartment was origi-
housing market by making could see some 8,500 new nally listed for $2,700 and had
home purchases more attrac- apartments, more than triple sat on the market for six
tive. Home-price appreciation the typical 2,400 apartments weeks, according to Rich Cas-
is outpacing rent growth in all completed annually. sell, Mr. Gable’s real-estate
23 of the metropolitan areas John Tirrill, managing part- agent from Citi Habitats. The
tracked by a national index ner at SWH Partners, an At- landlord had already dropped
produced by Florida Atlantic lanta developer that has sev- the price to $2,500 and Mr.
University and Florida Inter- eral projects under way in the Cassell negotiated it down
national University. Nashville area, is leasing a again to $2,300.
But the flattening of rents new five-story property with a “There’s just so much that
could shift the equation back fitness center, yoga and barre has hit the market, it is over-
toward renting and pose chal- studio and swimming pool. He saturated with high-end lux-
lenges to the housing market, has lowered rents from $2.25 ury,” Mr. Cassell said.
THE WALL STREET JOURNAL. NY Tuesday, January 3, 2017 | A8A
“Massive amounts of
highly sensitive client
data traveling online,
24 hours a day.
And I sleep like a baby
at night.”
David Wilner / COO
FRONTEO USA, Inc.
Client since 2012
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A8B | Tuesday, January 3, 2017 NY THE WALL STREET JOURNAL.
Every child
deserves to wake
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Coffee Art by Sam DeBey

From Donald Trump’s presidency to preparation for Britain’s departure from the EU
and new assertiveness by Russia and China, 2017 promises to be a year of
transformation. Here are some people and events to watch in the new year.
EUROPE FACES TESTS IN A SERIES OF ELECTIONS

Terrorism and refugee concerns Russian President Vladimir Pu-
haunt the Continent, where elec- tin will navigate a new relationship
tions in the Netherlands, France, It- with the U.S. In China, President Xi
aly and Germany will gauge the Jinping will seek to further his
strength of nationalist and anti-im- power at a Communist Party con-
migrant parties. Meantime, the U.K. gress, while South Korean Presi-
plans to launch the arduous process dent Park Geun-hye could be re-
of leaving the European Union. moved from office by a court.
l Jan. 17-20: World Eco- 50, which starts the l June 15: China
nomic Forum, Davos, departure from the EU gathers leaders of
Switzerland dozens of nations
l May 7: France’s deci- for summit on its in-
l Jan. 24: Italy’s constitu- sive presidential
AGENCE FRANCE-PRESSE/GETTY IMAGES
frastructure pro-
tional court expected to runoff between gram for Asia,
rule on challenges to top two first- Africa and Eu-
electoral law, which could round vote get- rope
spur decisions on new ters, which
election after December polls show will l Sept. 17: De-
resignation of Prime Min- likely include cision on
ister Matteo Renzi National Front 2024 Summer
leader Marine Le Olympic Games
l Feb. 15: Election for gov- Pen venue among
ernor of Jakarta, a test of Los Ange-
Indonesia’s democracy l May 19: les, Paris
that pits hard-line Isla- Iran’s presi- and Buda-
mists against the Chris- dential pest
Donald Trump’s inauguration portends major shifts in Washington, with Congress and the White House in GOP control. tian governor election,
where divi- l Late Sep-
l Jan. 1: New York City l March 5: China’s legisla- sions over tember:
opened Second Avenue ture opens annual ses- nuclear deal German
subway line, first pro- sion, a prelude to once- will come to elections
posed in 1920 every-five-year a head over determine
Communist Party Con- Hassan Rou- fate of
l Jan. 3: 115th Congress
TRUMP TO TAKE OFFICE; FED convenes in Washing-
gress this fall where
President Xi Jinping will
hani’s ex-
pected bid
Chancellor
Angela
PERFORMS A BALANCING ACT ton under GOP control seek to further cement
his power
for a second Chinese President Xi
term
Merkel
Donald Trump’s inauguration will set off l Jan. 20: Donald Trump seeks to seal his power. Oct. 25: Ar-
l
far-reaching change in Washington, as his takes office as 45th l March 15: Dutch election l May 26-27: gentina
U.S. president starts string of votes in Summit of leaders of G-7 midterm elections test
nominees face Senate hearings and a Re-
l Jan. 25-27: House and which nationalist and anti- countries, in Sicily, will fo- support for austerity
publican-led Congress begins to consider immigration parties pose cus on Africa and migra- measures under Presi-
his agenda of tax cuts, deregulation and a Senate Republicans
GARY CAMERON/REUTERS
hold joint policy re- serious challenges to tion dent Mauricio Macri
rethinking of health care and immigration. treat, Philadelphia mainstream incumbents
l June 7: Date by which l Nov 19: Leftist coalition
Meanwhile, the Federal Reserve aims to
TOBIAS SCHWARZ/AGENCE FRANCE-PRESSE/GETTY IMAGES; LAN HONGGUANG/ZUMA PRESS (XI)

l End of March: British South Korean court de- of outgoing President Mi-
gently push interest rates higher as eco- l Jan. 25-26: Senate
Prime Minister Theresa cides on removing im- chelle Bachelet of Chile
Democrats hold re-
nomic recovery continues without unnerv- treat, Shepherdstown,
May’s self-imposed dead- peached President Park faces uphill climb in pres-
ing the financial markets. New Jersey and line for declaring Article Geun-hye from office idential election
W.Va.
Virginia will elect governors, while several
big cities will select mayors. And the Su- l Jan. 31-Feb. 1: Federal A busy year awaits House Speaker Paul Ryan.
Reserve policy-setting
preme Court could have a full bench of jus- committee’s first meet-
tices for the first time since last February. ing of 2017 Bundy family members statement, quarterly
stemming from 2014 news conference
l Feb. 8-10: House Dem- U.S. land standoff in
ocrats hold retreat, Nevada l Sept. 20: Fed policy
Baltimore statement, quarterly
l April 17: Supreme news conference
l Feb. 27-March 1: Na- Court could have a full
tional Association of bench of nine for argu- l Oct. 22-26: AFL-CIO’s
Attorneys General ments, first time since quadrennial convention,
meeting, Washington Justice Antonin Scalia’s St. Louis
February 2016 death l Nov. 7: Election Day.
l March 15: Fed policy
statement, quarterly l May 16: Los Angeles Gubernatorial races in
news conference Mayor Eric Garcetti up Virginia and New Jer-
for re-election sey, where Gov. Chris
l April 1: Potential re- Christie can’t run again
cruits take Chicago po- l June 13: Virginia pri- due to term limit;
lice exam as city seeks mary will select candi- New York Mayor Bill
GETTY IMAGES
to hire almost a thou- dates to replace Gov. de Blasio seeks re-elec-

sand officers after vio- Terry McAuliffe, who tion
lent 2016 can’t run again due to
term limit l Dec. 13: Fed policy
l April 7: Las Vegas fed- statement, quarterly
New York’s Second Avenue line, at long last. eral court trial of l June 14: Fed policy news conference Angela Merkel faces a tough election amid terrorism fear and migrant worries.
LINCOLN NOVEL, WRIGHT LOOK-BACK, TIGER WOODS RETURNS

Among 2017’s anticipated Bardo,” based on the death lens. Disney will launch an-
books are works from of Abraham Lincoln’s young other salvo in the “Star Wars”
“Brooklyn” author Colm son during the Civil War, has movie franchise. In sports, Ti-
TONY AVELAR/ASSOCIATED PRESS
Tóibín, Paula Hawkins of won advance praise. ger Woods mounts a come-
“The Girl on the Train” fame New York’s Museum of back after injuries took him
and Elizabeth Strout, writer Modern Art plans to look back off the golf circuit. And some
of “Olive Kitteridge.” George at the work of architect Frank Americans will witness a rare
Saunders’s “Lincoln in the Lloyd Wright through a new total eclipse of the sun.
Arts and 150th anniversary of the

Entertainment architect’s birth, Mu-
seum of Modern Art,
Self-driving cars such as Google’s will be a hot topic at major auto shows in Detroit and elsewhere. l Jan. 8: Jimmy Fallon New York
hosts the Golden Globe
awards l July 21: Opening of
“Dunkirk,” Christopher
UIG VIA GETTY IMAGES
l Jan. 19-29: Sundance Nolan’s film about World

Film Festival, Utah War II evacuation of Al-
l Jan. 24: Academy lied soldiers from France
COMPANIES ARE OPTIMISTIC Awards nominations an-
nounced
l Dec. 15: Disney releases
“Star Wars: Episode VIII”
AMID POLITICAL CHANGE l Feb. 7: Release of “The
Businesses enter 2017 with restrained op- Refugees” by Viet Science Wright’s Guggenheim Museum in New York
timism, as a new U.S. president promises Thanh Nguyen, winner l Aug. 21: Total solar
greater economic growth while the U.K. of 2016 Pulitzer for his eclipse visible along a Hockey League playoffs Hills, Wis.
move to exit the EU creates uncertainty. Ma- novel “The Sympathizer” narrow corridor across begin
the U.S. l July 1: Cycling’s Tour de
jor mergers hang in the balance as regula- l Feb. 12: Grammy l May 6: Kentucky Derby France starts
tors weigh AT&T’s bid for Time Warner, the Awards, hosted by l October: Nobel Prizes
Dow Chemical-DuPont deal and China Na- James Corden announced l May 28: Indianapolis l July 3: Tennis’s Wimble-
500 car race don begins, London
tional Chemical’s purchase of Syngenta. l Feb. 17: U.S. opening for Sports
New CEOs take charge at Caterpillar and “The Great Wall” star- l May 28: Tennis’s French l July 20: Golf’s British
ring Matt Damon, most l Feb. 5: National Football Open begins, Paris Open starts
BLOOMBERG NEWS
Hershey. Tech fans anticipate a reinvented

expensive movie filmed League’s Super Bowl LI
iPhone from Apple. And investors await a exclusively in China in Houston l June: Sailing’s America’s l Aug. 10: Golf’s PGA
big expected initial public stock offering Cup, Hamilton, Bermuda Championship starts,
from Snap, parent of messaging service l Feb. 26: Jimmy Kimmel l April 2: Major League Charlotte, N.C.
hosts Academy Awards Baseball Opening Day l June 1: National Basket-
Snapchat, as they wonder whether the ball Association finals l Aug. 28: Tennis’s U.S.
Trump-inspired market surge continues. Dubai’s air show draws airlines and jet makers. l June 11: Tony Awards l April 6: Golf’s Masters begin Open begins, New York
begins, Augusta, Ga.
l June 12: Frank Lloyd l June 15: Golf’s U.S. l October: Baseball’s
l January: Expected Jus- l Feb. 6: Viacom’s first Hannover, Germany ons ad festival, largest Wright exhibit marking l April 12: National Open begins at Erin World Series
tice Department rulings annual meeting for CEO gathering of advertising
in Anthem/Cigna and Bob Bakish, under pres- l May 25: OPEC meeting, and marketing executives
Aetna/Humana mergers sure to turn around me- Vienna
FILMMAGIC; MARK CORNELISON/TNS/ZUMA PRESS
dia company l June 26: Trial in Brook-

l Jan. 5-8: CES consumer l April: Tougher require- lyn, N.Y., federal court on
electronics show, Las l Feb. 27-March 2: Mobile ments for U.S. retailers fraud charges for Martin
Vegas World Congress cell- that accept food stamps Shkreli, ex-pharmaceuti-
phone-industry gather- go into effect, unless cal executive criticized
l Jan. 5-18: Television ing, Barcelona Congress blocks them for boosting drug prices
Critics Association pan-
els on new program- l March 6-10: CERA Week, l June 4-6: International l Sept. 1-6: IFA interna-
ming, Pasadena, Calif. Houston, draws energy Air Transport Association tional consumer elec-
executives globally meeting, Cancun, Mexico. tronics and home appli-
l Jan. 8-22: North Ameri- Trade group represents ances trade show, Berlin
can International Auto l March 10-19: South by 200 global airlines.
Show, Detroit Southwest music, film l Sept. 14-24: Interna-
and interactive event, l June 15-21: Paris Air tional Motor Show,
l February: EU deadline Austin, Texas Show for aircraft mak- Frankfurt
for ruling on Dow ers and buyers
Chemical-DuPont l March 20-24: CeBIT l Nov. 12-16: Dubai Air
merger computer trade show, l June 17-24: Cannes Li- Show Matt Damon stars in a film made entirely in China; the Kentucky Derby attracts thoroughbred fans.
IN DEPTH
401(K) The downturns showed Mr.

Benna of Johnson Companies
that individual savers have too
many opportunities to make
Continued from Page One mistakes, such as yanking
A 401(k) is an employer- money out during market
sponsored plan that allows downturns or selecting unsuit-
workers to place pretax wages able investment mixes for
into a savings account. Com- their ages. He also notes that
panies aren’t required to make money managers can charge
matching contributions, but fees that eat away at savings.
they often do as an employee “I helped open the door for
perk. Unlike defined-benefit Wall Street to make even more
pensions, which provide set money than they were already
payouts for life, 401(k) ac- making,” he says. “That is one
counts rise and fall with finan- thing I do regret.” Mr. Benna
cial markets. retired at age 49 after selling
The advent of 401(k)s gave his consulting firm in 1990. He
individuals considerable dis- doubts “any system currently
cretion as to how and even in existence” will be effectual
whether they would save for for the majority of Americans.
retirement. Just 61% of eligi- There have been several at-
ble workers are currently sav- tempts to make the 401(k)
ing, and most have never cal- more effective by changing the
culated how much they would behavior of savers and compa-
WILL YURMAN FOR THE WALL STREET JOURNAL

need to retire comfortably, ac- nies.
cording to the Employee Bene- A 2006 U.S. law made it eas-
fit Research Institute and mar- ier for companies to enroll
ket researcher Greenwald & workers automatically in 401(k)
Associates. plans. Some firms then raised
Financial experts recom- workers’ default contributions
mend people amass at least by 1 percentage point a year un-
eight times their annual salary til they hit a cap as a way of en-
to retire. All income levels are couraging more savings.
falling short. For people ages Participation levels have
50 to 64, the bottom half of improved, but about one-third
earners have a median income of workers traditionally refuse
of $32,000 and retirement as- Ted Benna, a retired benefits consultant sometimes called the father of the 401(k), thinks the plans provide too many options for mistakes. to join their company’s 401(k)
sets of $25,000, according to plans despite perks such as
an analysis of federal data by employer-matching contribu-
the New School’s Schwartz White House Push Opponents have said such The Trouble with Retirement Planning tions.
Center for Economic Policy plans crowd out competition
Analysis in New York. The To Boost Savings from the private sector, and
Nearly half of U.S. households didn't have a retirement savings
middle 40% earn $97,000 and Congress blocked the Obama
account in 2013. Among households with those accounts, far more had Proposed fixes
401(k) plans than defined–benefit pensions.
have saved $121,000, while the administration’s attempts to Some initial believers in the
top 10% make $251,000 and The Obama administration create similar plans at the fed- Head of Percentage that owns 401(k) think recent measures
have $450,000 socked away. made a push to get people to eral level. household a retirement account Median retirement savings to boost savings don’t go far
save more for retirement, even Eight states, including Illi- All households enough. Ms. Ghilarducci wants
$0
outside the realm of the nois, Massachusetts and Cali- Age 25-34 46.2% $13,500 Households that to ditch the 401(k) altogether.
Savings gap 401(k). It introduced a regula- fornia, have plans to set up own any kind of She and Blackstone Group
And the savings gap is tion that encourages states to their own programs for the un- $3,000 retirement account President Tony James are rec-
35-44 55.4% $42,700
worsening. Fifty-two percent set up retirement savings plans covered that will offer guaran- ommending a mandated, gov-
of U.S. households are at risk with automatic enrollment fea- teed returns and provide incen- $6,000 ernment-run savings system
45-54 56.5% $87,000
of running low on money dur- tures for private-sector employ- tives for small businesses to that would be administered by
ing retirement, based on pro- ees. The Labor Department has create accounts for people who $14,500 the Social Security Adminis-
55-64 59.3%
jections of assets, home prices, unveiled a proposal to enable don’t have them. Dozens more $104,000 tration and managed by in-
debt levels and Social Security large cities to create similar are exploring the idea. All groups $2,500 vestment professionals. While
income, according to Boston plans. —Timothy W. Martin (25-64) 54.7% both are Democrats, they be-
$50,000
College’s Center for Retire- lieve their solution has bipar-
ment Research. That is up Percentage of private-sector workers participating tisan appeal.
from 31% of households in provide access to experts then jumped on the in an employment-based retirement plan, by plan type “There are a lot of gover-
1983. Roughly 45% of all one and people start saving tax code as a way to encour- 30% nors and mayors who are Re-
households currently have early enough. People in their age saving. Ted Benna, a bene- publicans, and the first wave
zero saved for retirement, ac- 60s who have been socking fits consultant with the John- of the crisis will affect states
cording to the National Insti- away money in 401(k)s for son Companies, was one of the 401(k) only and cities,” Ms. Ghilarducci
33%
tute on Retirement Security. multiple decades have average first to propose such a move, says.
More than 30 million U.S. savings of $304,000, according in 1980, leading some in the 20 She says she has already
workers don’t have access to to the Employee Benefit Re- industry to refer to him as the reached out to President-elect
Both plan
any retirement plan because search Institute and Invest- father of the 401(k). Donald Trump’s advisers to
types
many small businesses don’t ment Company Institute. Selling it to workers was a 11%
float the plan.
provide one. People are living “There’s no question it challenge. Employees could Others are calling for a na-
longer than they did in the worked” for those who com- put aside money tax-free, but 10 tional mandate on savings or
1980s, fewer companies are cov- mitted to saving, says Robert they were largely responsible Defined-benefit
requiring companies to auto-
ering retirees’ health-care ex- Reynolds, who was involved in for their own saving and in- pension only matically enroll participants at
penses, wages have largely stag- Fidelity Investments’ first vestment choices, meaning 2% 6% of pay. Sen. Marco Rubio,
nated and low interest rates sales of 401(k) products sev- they could profit or lose big the Florida Republican, has
have diluted investment gains. eral decades ago. based on markets. They also 0 proposed opening up the fed-
“I go around the country. He considers himself among took home less money with 1980 1990 2000 2010 eral government’s Thrift Sav-
The thing that people are ter- the success stories. At 64, he each paycheck, which is why Sources: National Institute on Retirement Security analysis of 2013 Survey of Consumer ings Plan, the 401(k)-style plan
rified about is running out of could retire comfortably today 401(k)s were commonly called Finances (ownership and savings); U.S. Department of Labor (participation) for federal employees, to pri-
money,” says Phyllis C. Borzi, after saving for three decades. “salary reduction plans.” THE WALL STREET JOURNAL. vate-sector workers.
a U.S. Labor Department assis- “It’s a very simple formula,” Traditional pension plans, Some early 401(k) support-
tant secretary and retirement- he says. “If you save at 10% on the other hand, had weak- ers are learning about its
income expert. plus a year and participate in nesses: Company bankruptcies Economist Teresa Ghilar- ple were thinking: Forget that shortcomings firsthand. Mr.
Some savers underestimate your plan, you will have more could wipe them out or ducci, director of the Schwartz boring pension plan.” Whitehouse, the former John-
how much they will need to than 100% of your annual in- weaken them, and it was diffi- Center for Economic Policy Two recessions in the son & Johnson human-re-
retire or accumulate too much come for retirement.” cult for workers to transfer Analysis, says she offered as- 2000s erased those gains and sources executive,
debt. Lucian J. Bernard is The 401(k) can be traced them if they switched employ- surances at union board prompted second thoughts says his 401(k) took a hit after
among those wishing he had a back to a 1978 decision by ers. meetings and congressional from some early 401(k) cham- 2008. He could retire if he had
do-over. The 65-year-old law- Congress to change the tax Companies embraced the hearings that employees pions. Markets have since re- to, but if he wants to maintain
yer from Edgewood, Ky., code—at line 401(k)—so top 401(k) because it was less ex- would have enough to retire if covered, but many savers are his standard of living for sev-
doesn’t have much savings be- executives had a tax-free way pensive and more predict- they set aside just 3% of their still behind where they need eral more decades, he must
yond a small company pension to defer compensation from able to fund than pen- paychecks in a 401(k). That as- to be. continue to work, he says.
and Social Security. He cashed bonuses or stock options. sions. Company pay-ins ended sumed investments would rise Ms. Ghilarducci says she The 65-year-old currently
out a 401(k) in the 1980s to At the time, defined bene- when an employee left or re- by 7% a year. came to realize the 401(k) lives in Orlando and is in-
fund law school and never re- fit-pension plans, which tired. “There was a complete math she used in the house counsel for ABC Fine
plenished it. He implores his boomed in popularity after Employees, for their part, overreaction of excitement 1980s and 1990s no longer Wine & Spirits, a Florida chain
daughter to start saving. World War II, were the most were drawn to an option that and wow,” says Kevin Crain, works. The 7% annual com- with about 140 stores. He
“It’s a little easier saying it common way workers saved could provide more than a who as a young executive at pounded investing returns, a plans to work into his mid-70s.
than doing it,” he says. for retirement. company’s pension ever Fidelity Investments in the pillar of the concept, now It would be appealing, he
Defenders of the 401(k) say A group of human-re- would. Two bull-market runs 1990s recalled complaints seems too rosy. She now be- says, to have an old-fashioned
it can produce an ample resources executives, consul- in the 1980s and 1990s about some of its funds under- lieves setting aside 3% of sal- pension. “A pension is pretty
tirement cache if employers tants, economists and policy pushed 401(k) accounts higher. performing the S&P 500. “Peo- ary isn’t enough. valuable,” he says.
WHALE like ancient fossils scrubbed

through the ages by weather
and bugs, the bones were still
covered in meat.
with the heart excavation.
Since the frozen heart was
trucked out of Newfoundland,
science has been stretched to
whaling greatly reduced the
blue-whale population in the
1900s. Commercial whaling
was banned in the 1960s, and
Continued from Page One To speed up nature, Re- prepare the largest organ on today there are fewer than
icy Atlantic—it presented a search Casting’s President Pe- record for preservation. When 20,000 of the species, accord-
rare research opportunity and ter May concocted a recipe for the heart was first pickled in ing to the World Wildlife
a question. How, exactly, do a potent compost cocktail of Ontario, Ms. Miller had to don Fund.
you disassemble a 90-ton manure and sawdust. The plan a mask and waterproof cloth- The museum is setting
whale? was to mix the compost and ing to manually rotate the or- aside more than 10,000 square
JACQUELINE WATERS
Toronto’s Royal Ontario bones inside several steel gan in a tank of formaldehyde feet for the blue-whale exhibit.
Museum dispatched a team to shipping containers for two because no available equip- It will include an 80-foot skel-
retrieve whale parts for an ex- years, the fastest way to clean ment was big enough for the eton of one of the Newfound-
hibit on the endangered spe- the bones without damaging job. land whales and the whale
cies set to open in March 2017. them with chemicals or other Next the heart was shipped heart after plastination is
It would take them more than A deceased blue whale washed up on a beach in Newfoundland. cleaners. The process was de- in a custom-made tank to Ger- completed later in 2017. Re-
two gruesome years to harvest layed because of a local supply many, where a laboratory re- stored to its full size, the
and preserve the world’s big- the job and remove the car- Mark Engstrom, deputy di- problem. placed the heart’s fluids with heart is nearly the size of a
gest body parts. cass. rector of the museum’s collec- “We had to wait nearly silicone polymers, a technique Smart car.
“The whole thing was a With no time to ship equip- tions, said the freezie repre- three months for the manure. known as plastination, before Mr. Engstrom was part of
great idea, but no one has ever ment to the remote Newfound- sents an advance in Our cows out here can’t be the organ’s museum debut. the team tasked with cutting
done anything this big before,” land towns, researchers were preservation that makes it rushed,” Mr. May said. Oliver Haddrath, a research bones out of the whales in
said Ms. Miller, a researcher forced to improvise. possible for museums to move The blue whale’s deep technician at the museum, and 2014. After his first day of op-
with the museum who previ- Once inside the Rocky Har- beyond prehistoric bones to ocean habitat is inaccessible, other specialists analyzed a erating on Lollipop, the more
ously conducted postmortems bour whale, it took hours of stage lifelike exhibits about and timely necropsies are vir- few dozen vials of tissue from decomposed of the two
on small mammals such as cutting away meat and dislo- the evolution, autonomy and tually impossible because the the Newfoundland whales to whales, he realized it would be
mice. cating ribs so Ms. Miller and bodily functions of poorly un- behemoths, typically weighing plot the first completed ge- impossible to scrub its scent
Upon arriving in the towns three co-workers could push derstood animals. close to 100 tons, tend to sink nome sequence of blue whales. off his skin.
of Trout River and Rocky Har- its glutinous, 400-pound heart When the seaside operation to the ocean floor after death. Mr. Haddrath said the nearly Local restaurants were
bour, a small group of re- onto the only available recep- was completed, the whale On the rare occasions when finished blueprint will yield happy to feed the scientists as
searchers and a veterinarian tacle big enough to hold the parts were trucked to the they wash ashore, their bodies more precise information long as they waited outside for
found themselves in troubled, organ: a neon green dumpster Trenton, Ontario, headquar- are often decomposed. about the population and its bagged dinners that were
foul-smelling waters. The bag. ters of Research Casting Inter- “Dead whales are usually adaptability. handed through a window. He
Trout River whale, nicknamed A front-end loader later national Ltd., which special- blubber-wrapped buckets of The blue whale is so elusive had an industrial cleaner
Lollipop by locals, was so mal- hoisted the bag into an indus- izes in repairing and soup by the time they wash that even basic facts are a shipped to his hotel to tempo-
odorous that when it was trial freezer, a rectangular cof- assembling dinosaur skeletons ashore. These whales were a matter of guesswork. Their rarily mask the scent of dead
towed to a nearby boat slip for fin that prompted some staff- for museums around the gift,” said Paul Nader, a Vir- ranks are believed to have whale in his rented car.
dismantling, the crew was ers to dub the chilled organ a world. The whales posed a ginia-based veterinary anat- shrunk from more than “I doubt that car was
given only one week to finish “whale freezie.” unique challenge because, un- omy specialist who assisted 250,000 before commercial rented again,” he said.
THE WALL STREET JOURNAL. * * NY Tuesday, January 3, 2017 | A10A
GREATER NEW YORK

N.J. Town
Flags Uber
To Relieve
Space Bind
BY ESTHER FUNG
City officials in Summit, N.J.,
are turning to the ride-hailing
app Uber to combat their com-
muter parking problem.
The city is paying for resi-
dents to take Uber cars to and
from the NJ Transit train sta-
tion. The calculation: The rides
PETER J. SMITH FOR THE WALL STREET JOURNAL (2)

are far less expensive than the
cost of building enough parking
to accommodate the throngs of
commuters heading into and
out of New York City each day.
A six-month pilot program
offers Uber rides to 100 resi-
dents at the cost of the $4
daily parking fee. It runs
through March.
At the train station, there
are 2,809 parking spaces in two
garages and seven surface lots;
the spaces are typically filled
A Smoother Subway Ride

by 8:15 a.m. weekdays.
“We had a lot of complaints MTA’s Prendergast
[about insufficient parking] in
August and September,” said Set to Retire Soon
City Administrator Michael Cuomo praises transit veteran
Rogers. A deficit of 200 to 400 New Second Avenue said Mike Austin, a 32-year- for meeting subway deadline
parking spaces has been largely old physician who lives a block
erased, he estimated. line buoys commuters from the 96th Street station
The pilot program is a part- and shop owners alike; and had to trudge up to catch Thomas
nership with Uber Technologies the Lexington Avenue lines be- Prendergast,
Inc., and the city isn’t subsidiz- a worry about vertigo fore the Second Avenue Sub- the head of
ing rides from taxis or from way opened. the Metropol-
Lyft Inc., a rival to Uber. BY KATE KING The Q line, which runs to itan Transpor-
“Uber helps riders get to Coney Island, also will make it tation Au-
transit hubs without having to Abe Wiechman looked out easier for Mr. Austin to visit thority, will
find parking,” a spokeswoman his shop window on East his mother in Brooklyn. retire within the next few
said. “It also saves them time 86th Street at a view that until Cathleen Heffernan, a doc- weeks after more than 25
having to search for parking, a few days ago had been tor who takes the 4, 5 or 6 years with the agency, New
and saves money since they blocked by construction fencing. subway lines to work, thinks York Gov. Andrew Cuomo said
don’t have to pay to park.” Across the street, riders the Second Avenue Subway Monday.
Based on the average cost folded their umbrellas as they will help relieve congestion The on-time completion of
of $7 for each Uber ride, the entered the new Second Ave- during her commute. the Second Avenue Subway
ride-sharing program would nue Subway. Passengers at the 86th Street station, top. ‘Perfect Strangers,’ by “I am really hopeful that we “would have been impossible
cost about $167,000 a year for The station attracted peo- artist Vik Muniz, on the mezzanine level at the 72nd Street stop. won’t have to wait for three without Tom’s leadership and
100 residents. ple “like it was the premiere subways to pass before we get relentless commitment…,” Mr.
By contrast, converting a lot for a movie” when it opened ate more business,” he said. Residents from the 86th on and that we won’t be Cuomo said in a statement.
with 100 spaces into a garage over the weekend, Mr. Wiech- The Second Avenue Subway Street area said they are ex- jammed up against other peo- Mr. Prendergast, who has
with 400 spaces would cost man said. But for him, the best extends underground transit pecting more convenient ser- ple,” said Ms. Heffernan, 44. been the MTA chairman and
about $10 million, while land part of the opening was that it into the Upper East Side, with vice and roomier rides on the Upper East Side resident chief executive since 2013, also
for a surface lot with 100 marked the end of construc- stops on the Q line at 72nd, 4, 5 and 6 trains. Maggie Simmons, a 74-year- led the Long Island Rail Road
spaces would cost from $5 mil- tion outside 86th Street Wine 86th and 96th streets. The The Second Avenue line is old retiree, said she would like and New York City Transit.
lion to $7 million. & Liquors. project has taken decades to expected to serve 200,000 to take the new line to Times In a statement, Mr. Pren-
“That land doesn’t exist in On Monday, Mr. Wiechman complete at a cost of more daily riders and to reduce Square and Carnegie Hall but dergast said he was proud of
the area,” Mr. Rogers said, said he was happy the under- than $4 billion. weekday crowding on the Lex- is worried the long descent what the MTA has done to im-
adding the ride-sharing pro- ground blasting and drilling Many businesses were closed ington Avenue line by up to underground will exacerbate plement technology and to re-
gram also offers flexibility to had ended and that the build- Monday in observance of the 13%, or 23,500 fewer riders, her vertigo. Riders take two pair and fortify the public
scale up or down depending ing materials and machinery New Year’s holiday, and the according to the Metropolitan escalators before they reach transportation network after
on demand. “But when you that had crowded the sidewalk new stations were mostly filled Transportation Authority. the 86th Street platform. superstorm Sandy.
build a parking structure, it’s for years were gone. with curious passengers mar- “I don’t have to walk up the “That would give me —Kate King
permanent.” “I hope it’s going to gener- veling at the gleaming interiors. damn hill. I hate that hill,” pause,” she said.
Pundit and Pitchman Could Bring a Trump Twist to Race for Mayor
BY MIKE VILENSKY run as a Democrat. After years low-income riders.
of being a registered Republi- Raised in a blue-collar
Private eye Bo Dietl intends can, he registered with both Queens neighborhood by Ital-
to run for New York City the Democratic and Indepen- ian and German immigrants,
mayor as a Democrat, but he dence parties, which is barred he is now a Manhattan man-
may give Mayor Bill de Blasio and, in effect, canceled both about-town who makes ap-
a taste of right-wing populism. registrations. pearances at Harlem’s exclu-
One of five declared candi- As a result, he wasn’t regis- sive restaurant Rao’s and the
dates for the Democratic nom- tered as a Democrat by the Upper East Side mainstay
ination, including Mr. de Bla- October deadline for the 2017 Neary’s.
sio, Mr. Dietl has no clear primary, according to a At 66 years old, he said he
constituency in the Sept. 12 spokeswoman for the city’s can do 66 push-ups, but “I
primary in a city where Don- elections board. don’t feel like doing them
PETER FOLEY FOR THE WALL STREET JOURNAL
ald Trump lost four of the five A Dietl campaign adviser, right now.”
boroughs and the mayor plans attorney Howard Kleinhendler, Mr. Dietl provided security
to frame his re-election cam- said registering with the Inde- for the General Motors build-
paign in part as a fight against pendence Party was a mistake, ing on Fifth Avenue when Mr.
the Republican president- and Mr. Dietl’s team is fight- Trump owned it in the late
elect. ing the city to get him on the 1990s. He is a member of Mr.
Still, said GOP strategist Democratic ballot. Trump’s Mar-a-Lago Club in
Jessica Proud, “he might be If the city doesn’t agree, Palm Beach, Fla., and a note
the guy people are talking Mr. Dietl would need approval from Mr. Trump praising Mr.
about in a bar.” from Democratic county lead- Dietl’s security services is
Mr. Trump didn’t comment ers to run in the party pri- posted on the Dietl firm’s
about Mr. Dietl’s candidacy. mary, and “he has a better website.
A former New York City po- Bo Dietl, at his office in Midtown Manhattan, touts his experience as a former city police detective. chance of getting struck by The crime-fighting person-
lice detective, Mr. Dietl is per- lightning on a sunny day,” said ality said he admires Hillary
haps best known for his televi- Martin Scorsese films, includ- “Maybe I don’t have a college Mr. de Blasio has been posi- Frank Seddio, the leader of the Clinton but decided during the
sion punditry defending police ing “Goodfellas.” His security degree,” he said, “but I have a tioning himself as a voice Brooklyn Democrats. presidential campaign, “I’m
officers against criticisms and company, Beau Dietl & Associ- doctorate of the streets.” against some of Mr. Trump’s One afternoon at his office gonna bank on crazy Donald.”
championing surveillance of ates, has done work for the A spokesman for Mr. de policies and gave a speech in Midtown, wearing a gun in One selling point for his
Muslim communities to fight New York Republican party and Blasio said: “Under Mayor de about protecting the city from a hip holster, Mr. Dietl said he candidacy, Mr. Dietl said, is
terrorism. actor Robert De Niro. Blasio, crime just hit another the president-elect’s initia- feels like a liberal because he that he would have a good re-
He also has had a turn in Mr. Dietl is framing himself all-time low…We are happy to tives. Mr. Trump has called supports gay rights and abor- lationship with the new presi-
commercials for the fast-food as a friend to police officers match that record against Mr. de Blasio “incompetent.” tion rights and is pushing to dent: “If I have to cry, I can
chain Arby’s and cameo roles in who will keep the city safe. anyone.” Mr. Dietl may not get to subsidize subway fares for cry to Donald.”
“A must see!”
— Broadway World
“An amazing experience!

Exciting to watch and
JAN. 11-15 | LINCOLN CENTER DAVID H. KOCH THEATER
really inspirational!”
— Stewart F. Lane, Starts next week. 800-818-2393
Six-Time Tony Award–winning producer Secure your seats now! ShenYun.com/NYC Tickets start at $80
A10B | Tuesday, January 3, 2017 NY * * THE WALL STREET JOURNAL.
GREATER NEW YORK
Mocktails, Anyone?
Bars Retool Menus
For Sobering Month
BY CHARLES PASSY Dry January amplifies a tra-
ditionally slower month for
For a handful of New York New York bars, since the cold
drinking establishments, Janu- weather discourages many
ary is turning into mocktail would-be customers from leav-
month. ing home, said Ivy Mix, Ley-
With a number of patrons enda’s co-owner and head bar-
swearing off alcohol for the tender.
first month of the year as part Jeff Isaacson, director of
PETER FOLEY FOR THE WALL STREET JOURNAL (3)

of what has been dubbed Dry bar and beverage operations
January, a few bar and restau- for Ark Restaurants, a national
rant owners are hoping to company that runs several
shore up sales with nonalco- dining spots in New York, said
holic mixed drinks, or mock- he expects the effect on sales
tails. to be minimal since New York-
At Bottle & Bine, a contem- ers are known for drinking
porary American restaurant and socializing.
and bar in Manhattan’s East The Dry January movement
Midtown, owner Denis Keane has its roots in the U.K., where
said he is expecting as much a group called Alcohol Con-
as a 40% decline in business cern has promoted it exten-
compared with December. sively as part of its efforts to
curb drinking-related prob- At Holy Name Medical Center, patient-care coordinator William Mennetti and nurse manager Karine Shnorhokian join patients who have
Dry January lems. In 2016, 16% of British
adults attempted to go dry in
chronic obstructive pulmonary disease. The weekly class brings out all ages, even young ones Chloe Fernandez and Elizabeth Friedman.
amplifies what is January, according to the Al-

usually a slow time cohol Concern website.
Some New Yorkers said the
for watering holes. idea of giving up alcohol, even
for a short while, makes sense
for a variety of reasons, in-
As a countermeasure, Mr. cluding the health risks associ-
Keane is promoting mocktails, ated with excessive drinking
such as the Goody Two Shoes and the cost of a cocktail,
(with ingredients that include which can run $15 or more.
cranberry juice and mint) and Even alcohol-industry pro-
Kylee Says So (with rosewater fessionals see a certain wis-
and pineapple). dom to Dry January as a re-
The Dry January movement minder to keep all things in
“is definitely a thing,” said Mr. moderation.
Keane, who owns other bars “It’s almost a check on
across the city. yourself,” said Rachel Harri-
Another establishment ex- son, a co-founder of Lion &
pecting to feel the pinch is Lamb Communications, a New
Leyenda, a Latin-themed bar York-based public-relations
Like Music to Their Lungs

in Brooklyn’s Carroll Gardens firm that specializes in bars
neighborhood. and liquor brands.
BY KATE KING who suffered from emphy- hen’s “Hallelujah.” The pro- “It’s not as widespread and
sema, had improved consider- gram’s volunteer instructor, common-knowledge as I’d like
TEANECK, N. J.—The group ably after taking up the instru- Jeff Bernstein, said the har- for it to be, but it’s definitely
gathered around a conference ment. Playing music together monica is ideal for amateur getting there,” she said.
table at Holy Name Medical also nurtures a sense of com- musicians with lung condi- Weekly group lessons and
Center and flipped through munity among the patients. tions because it is portable, five to 10 minutes of daily
binders until they found the “A lot of the benefit is so- easy to learn and, unlike other practice can help chronic lung
music for Chloe Fernandez’s cial,” Ms. Shnorhokian said. wind instruments, makes patients strengthen their dia-
favorite song. Taking deep Chloe has primary ciliary sound when the player both phragm muscles and improve
breaths, they raised their har- dyskinesia, a rare genetic disor- inhales and exhales. stamina, Ms. Williams said.
monicas to their lips and blew der that leaves her frequently COPD, which encompasses COPD causes air pockets to be-
the first notes of Beethoven’s short of breath and prone to emphysema, chronic bronchitis come trapped in the lungs, and
“Ode to Joy.” serious lung infections. Playing and serious asthma, affects playing the harmonica helps
Chloe, 9 years old, of Ridge- the harmonica over the past 6.4% of Americans and was the patients develop the pursed-
wood, N.J., is one of the youn- year, along with her other med- third-leading cause of death in lip breathing technique used
gest participants in the hospi- ical treatments and regular the U.S. in 2014, according to to fully exhale. “Using that
tal’s “Harmonicare” weekly swimming, has helped improve the Centers for Disease Control particular instrument seems
classes. The year-old program Chloe’s lung function and re- and Prevention. Smokers are at ideal,” she said.
PETER J. SMITH FOR THE WALL STREET JOURNAL
provides free harmonica induced her hospital stays, said a higher risk of developing Teaneck resident Iris
struction to people suffering her mother, Leslie Mota. COPD, but it also can be caused Charms, who has had COPD
from chronic obstructive pul- “I’ve seen the difference,” by air pollutants, respiratory infor 10 years, said she breathes
monary disease, or COPD, and Ms. Mota said. “She’ll carry this fections and genetic conditions. easier while climbing the
other lung ailments. thing everywhere and it drives Stephanie Williams, direc- stairs after just five Harmoni-
“We don’t judge when me crazy. At home, in the car, tor of community programs care classes.
somebody messes up,” said she’s playing it all the time.” for the national nonprofit “I’m learning songs that I
Chloe. “It’s supportive.” At one class late last year, COPD Foundation, said the know and I practice a lot at
Karine Shnorhokian, a nurse 13 attendees worked through a harmonica’s long-term bene- home with my 2½ year-old
manager at Holy Name Medical set list that included “Piano fits aren’t yet clear, but the in- grandson,” said Ms. Charms,
Center, said she got the idea Man,” “You Are My Sunshine,” strument is becoming an in- 83. “It gives you more confi-
for “Harmonicare” after hear- “When the Saints Go Marching creasingly popular extension dence in yourself. Generally it
Denis Keane of Bottle & Bine with the Kylee Says So mocktail. ing that her friend’s mother, In” and the late Leonard Co- of pulmonary rehabilitation. makes you feel stronger.”
GREATER NEW YORK WATCH
It’s NEW YORK
Task Force to Push

New Minimum Wage
better
About 200 state investigators
and staffers are being assigned
to spread the word about New
York’s recent minimum wage in-
crease—and to make sure busi-
nesses comply.
Gov. Andrew Cuomo an-
PETER J. SMITH FOR THE WALL STREET JOURNAL
to give...
nounced the task force Monday.
The minimum wage was pre-
viously $9 an hour statewide un-
til Saturday. Now, it varies by lo-
cation and size of business, from
$9.70 an hour in much of the
state to $11 an hour in New York
City businesses with 11 or more
workers.
The Democratic governor and
the state Legislature agreed in
March to raise the minimum wage
to $15 an hour statewide by 2021. FATAL FIRST: New York City’s first shooting death of 2017 happened Monday in Ozone Park, Queens.
Mr. Cuomo said the task force
initially will work to inform em- The governor nixed the mea- system,” said Donna Lieberman, cording to officials.
ployers and workers about the sure Saturday night. executive director of the New Dekota Locklear of Lumber-
increase, but over time, the He said he supports having York Civil Liberties Union. ton, N.C., was pulled over around
group will focus more on com- the state pay to improve criminal The legislation followed a 2 a.m. Sunday on Manhattan’s
plaints and enforcement. defense for the indigent. But he 2014 settlement between the Upper West Side after he rolled
—Associated Press said the legislation went too far Cuomo administration and the past a DWI checkpoint.
and included hundreds of millions NYCLU requiring better indigent The 18-year-old was hand-
NEW YORK of dollars for legal services in defense services in Suffolk, cuffed and placed in the back of
The MySuit Gift Card family court and other settings. Washington, Ontario, Onondaga a police car with no partition. Of-
Costs to Defend Poor Mr. Cuomo said he would and Schuyler counties. ficials said he crawled into the
Shirts | Pants | Suits Stay With Counties work with lawmakers on a new —Associated Press front seat and drove off, traveling
plan this year. But public defend- about 13 miles north. Police
New York Gov. Andrew ers and other supporters of the UPPER WEST SIDE tracked the vehicle and found the
Cuomo has vetoed a proposal to legislation said the governor had suspect nearby at about 4 a.m.
have the state pay for public de- spurned legislation that would Teen Drives Away Mr. Locklear was arrested on
custom clothing for the knowing man fenders. His decision means that have helped ensure New Yorkers In Police Cruiser charges of grand larceny, aggra-
at least for now, individual coun- have equal access to justice. vated drunken driving and at-
ties will largely keep footing the “He has rejected a ground- A teenager arrested for tempted assault of a police officer.
madison @ 45th St • wall street • philadelphia • mysuit.com
bill for defending poor people ac- breaking and bipartisan fix to our drunken driving tried to make a He was awaiting arraignment.
cused of crimes. deeply flawed public defense getaway—in a police cruiser, ac- —Associated Press
LIFE&ARTS
BONDS: ON RELATIONSHIPS
Is Therapy
Working
For You?
TRAVEL
NANDO PELUSI
A good therapist collaborates, Dr. Pelusi says.

How Hotel
BY ELIZABETH BERNSTEIN
Companies Launch
SOME PEOPLE put therapy on their list
New Brands
of New Year’s resolutions. But how does
a person find the right therapist—and
know when the therapy is working?
Hip boutique properties pose practical
Nando Pelusi, a psychologist and advi- dilemmas: Bathtub or shower only?
sory board member of the National Asso-
ciation of Cognitive-Behavioral Therapists, What goes in the minibar?
discussed what contributes to therapy’s
success. Most important is the relation-
ship between the client and the therapist,
BY ANDREA PETERSEN
says Dr. Pelusi, who has had a private
practice in New York City for 20 years.
Some edited excerpts from his interview: Baltimore
HOTEL COMPANY executive Alan Fuerst-
How does somebody know if therapy would man is standing in a mahogany- and brass-
be helpful? adorned model hotel room here debating
Dr. Pelusi: If you feel like you’re blocking whether guests staying in outposts of his
yourself, defeating yourself, feeling emo- new brand, Pendry, should be provided slip-
tionally unstable, avoidant, or pessimis- pers in their rooms.
tic, then you’d benefit. If you’re avoiding Slippers or no slippers? Turndown ser-
something you want to do or doing vice or not? Bathtub or shower only? These
something you don’t want to do. Say you are just a few of the decisions that need to
are attracted to someone but run the be made when launching a new hotel brand.
other way when you see them. Or you Travelers are about to see a flurry of new
decide to cut down on alcohol but you hotel brands. Pendry is the second one from
keep drinking. Mr. Fuerstman’s Montage Hotels & Resorts,
an Irvine, Calif.-based company which oper-
What is a good way to find a therapist? ates five luxury Montage hotels. Hyatt Ho-
I recommend the therapy directory on the tels Corp. has launched seven new brands in
website of Psychology Today. You can look the last decade, most recently Hyatt Cen-
up location, type of therapy, the thera- tric—a “millennial mindset lifestyle” one
pist’s experience. Narrow your list down to featuring hair dryers from the blowout sa-
half a dozen candidates and call them. lon chain Drybar—in 2015 and the Unbound
Some will give a free phone consultation. Collection by Hyatt—an assemblage of prop-
When people call me, I answer questions erties that maintain their own individual
on how I work and tell them my approach. identities—in March of 2016. Hilton World-
If there is a good fit, we will set a meeting wide Holdings Inc. will soon have 28 prop-
up. You can also get recommendations by erties of its new Canopy brand of hip bou-
word of mouth. tique-style hotels. (Staff are called
“enthusiasts.” The general manager is the
How can a person recognize a good thera- “chief enthusiast.”) The company is also
pist? opening its first Tru hotel, a lower-priced
Ask yourself: “Do I like this person and boutique brand, in 2017.
do they understand me? Do their com- Why the bumper crop of new brands? In
ments make immediate sense and do many cities, the big hotel companies, like
they explain me to myself in ways that Hilton and Marriott International Inc., al-
make sense?” ready have so many properties under their
You are looking for someone who is a existing brands that they need to launch
good fit with your personality. You want new ones to keep growing, says R. Mark 10
someone who can complement or balance Woodworth, senior managing director at
your weaknesses. If you are cerebral, you CBRE Hotels’ Americas Research. After all,
might want somebody who has an appre- how many Residence Inns do travelers need
ciation of your nonverbal passion. If you in one town? Also, peoples’ tastes have
are overly emotional, you want someone changed and millennials are a growing per-
who can explain your emotions to you. centage of customers, says Mr. Woodworth:
They want hipper, more happening lobbies
Are there red flags? and restaurants and better technology in
Be wary of anyone who insists on overly rooms. So hotel companies are creating new
exploring the past, or blaming others, in- Please see HOTELS page A13
cluding your parents. Run from someone
Please see BONDS page A12 1-4: Canopy by Hilton Reykjavik; 5-6; Alan and Michael Fuerstman; The Sagamore Pendry Baltimore; 7-8; Cordis, Hong Kong; 9-10: Moxy Hotel Berlin
CANOPY/HILTON (1,2, 3, 4); MATT ROTH FOR THE WALL STREET JOURNAL (5, 6); LANGHAM HOSPITALITY GROUP (7, 8); MOXY HOTELS (9, 10)
TRICKS OF THE TRADE
USING HOUSEPLANTS
TO SAY ‘WELCOME HOME’
makes a nice subtle complement
BY CHERYL LU-LIEN TAN
ROLANDO DIAZ FOR THE WALL STREET JOURNAL (2)
without screaming ‘Look at me.’”

Size is an important consider-
PLANTS DON’T JUST have to be ation with plants, says Mr. Han-
relegated to the outdoors—in cock, who notes that the plants
cooler climates, especially, they should complement the furnish-
can be a way to lend a touch of ings and space, not dominate it.
calming nature to your home de- Sometimes, though, larger
cor. There are ways to pull off the plants can work. Mr. Hancock has
look, artfully. worked a large ficus into his home
“Any home with plants in it just decor before. The trick, he says, is
feels more welcoming, natural and to make sure it’s the only plant in
attractive to me,” says Justin Han- the room and is a focal point that
cock, horticulturalist with Costa draws attention.
Farms in Miami. “Plants bring in a If a plant is small—one in a Justin Hancock (left) places plants that require less sunlight on a cabinet.
sense of nature and nature makes three- or four-inch pot, for exam- it really lightens up a room. It
us feel comfortable.” ple—it can look out of place on its works well with both really dark spots can dictate the type of plant Generally, it’s best to avoid
When working houseplants into own in a large room. To remedy furniture as a counterpoint and that would work best. Mr. Hancock plants that are typically grown
an interior, Mr. Hancock, who lives that, he sometimes groups a few also ultra modern pieces.” says that snake plants as well as a outdoors for your indoor spaces.
in a three-bedroom house just of them together. If handled without much kind often called the “ZZ plant” “A lot of the outdoor plants like
south of Miami in Cutler Bay, Fla., Mr. Hancock likes to play with thought, plants in several rooms work well in dark corners. On the more light than you’ll get inside,”
often likes to start by looking at shapes in plants to augment his could add a sense of clutter— other hand, anthuriums, with their Mr. Hancock says, adding that
the furniture in the space. “In my home decor. In his bedroom, he uses though Mr. Hancock likes to use “heart-shaped leaves and heart- herbs are often tricky to pull off
living room, I have a nice, really vertical snake plants, which have a the same plant in different rooms shaped flowers are a fun, festive well indoors..
dark brown leather sofa and be- modern architectural look to them. to give the home a more cohesive way to imbue a space with a little Finally, once you have picked
cause it’s dark, it kind of grabs the Color is important too, and Mr. look. He has a small pot of red agl- color,” he adds, noting that they out your plants, have fun with the
eye, so I augment with red agla- Hancock sometimes likes to use aonema sitting on his marble do need a lot of light. pots, says Mr. Hancock, who has
onema,” he says, noting that the plants as accent points. Limelight, countertop in the kitchen, echoing It’s important not to place dark-colored plant pots in a pur-
dark green leafy plant tinged with for example, is a favorite of his be- the plant in his living room. plants near air-conditioning or ple-brown hue in his living room
bright red at the edges “just cause “it has chartreuse foliage so The amount of light in certain heating vents. so they will match his leather sofa.
LIFE & ARTS

MUSIC REVIEW | Jim Fusilli
BONDS
Finding the Meaning of Home Continued from page A11
overly formal or aloof. Therapy can, and
should, be fun.
Watch out for somebody who doesn’t
answer direct questions—if they try to
turn it around and talk about why you are
asking. You should feel free to ask relevant
questions and expect direct answers.
If they push what they think you
should do, get up and walk out.
What is the best way to open up about

difficult topics?
A good therapist is a collaborator, a John
Lennon to your Paul McCartney. You can
start with smaller problems to test out
how your therapist handles them, and if
you like their judgment go deeper.
If you are avoiding opening up be-
cause of shame, then I recommend you
talk about why you are avoiding talking
about certain things. A good therapist
will find a way to frame the issue as a
source of potential growth.
What should a client do in between ses-

sions?
Some say this is where the real therapy
occurs. You should challenge yourself ev-
ery week to overcome some habit or to
take some risk. Did you talk to that per-
son you are attracted to?
I think the people who do best in ther-
apy take notes, during the session and
after. I have clients who come in and
read notes from their week.
Can a person learn to trust a therapist?

Trust is not something you learn, it’s
something the therapist earns. Use your
NEIL KRUG
judgment and gut to see if your emotions
and behaviors are getting stronger. If
‘Migration’ is the new album by Simon Green, known by his stage name Bonobo, and features Nicole Miglis, Michael Milosh, Nick Murphy and more. they ask the right questions at the right
time and a light bulb goes off, that is
when you start to trust them.
‘MIGRATION“ (Ninja Tune) is added that he had no historical and string sections. unavailable to sing it.
Simon Green’s sixth studio al- connection to Los Angeles, which After the tour for “The North On ”Migration” there is a How long should therapy go on?
bum under the Bonobo name he finds the antithesis of what Borders,” he moved to California sense of a journey, of emotional Therapy can be very short—a dozen ses-
and his first since “The North he called “the hyper-social envi- and developed compositions he ebbs and flows ranging from sions can significantly improve on self-
Borders.” Supporting that 2013 ronment on the road,” and New began while traveling, using Able- sorrow to excitement. In “Sec- defeating habits and emotional vulnera-
album, he and his 12-piece band York, his prior base, which he ton and other digital workstations ond Sun,” piano, guitar and deli- bilities like depression and anxiety.
played some 175 shows in the saw as hectic, stressful and in to explore sounds and textures. cate chiming keyboards are sur- However, some habits and thinking styles
U.S., Canada, Australia and conflict with the kind of music He utilized a series of complex al- rounded by a wash of go very deep and may require more time.
across Europe. On “Migration,” he wanted to make. gorithms he created to generate atmospherics until the brass and When you feel stronger and like how you
out Jan. 13, Mr. Green explores Mr. Green was born in Brigh- random loops—he called them strings enter. In “7th Sevens,” respond to the world and other people,
what returning home means to ton, England. His debut disc, “An- “harmonic generative music”— dance percussion jumps on top you can end it. You can always go back
someone who leads such a no- imal Magic,” re- that serve as foun- of what sounds like static and for booster sessions.
madic existence, even if home is leased in the States dations and spring- then Mr. Green adds alluring
an unfamiliar place. in 2001, introduced boards. For the chords on keys. The album con- Should clients follow their therapist on
The new album blends elec- a promising pro- album opener and cludes with “Figures,” in which social media or ask personal questions?
tronica, African-influenced poly- ducer of down- title track of “Mi- a string quartet that had set up I’m happy to share my personal foibles
rhythms, piano, brass, harp and a tempo music who gration,” Mr. Green in his living room accompanies and answer questions about my life. I
string quartet. Guest vocalists in- played several in- asked pianist and clattering percussion that even- can understand some curiosity and don’t
clude Nicole Miglis of Hundred struments and had Los Angeles neigh- tually fades away, allowing the see any harm in humanizing the thera-
Waters, Michael Milosh of the a taste for jazz and bor Jon Hopkins to strings to soar and then glide to pist. If you’re curious, look your thera-
duo Rhye, Nick Murphy (formerly R&B. “Days to improvise solos to a comfortable landing, as if a pist up. It’s natural.
known as Chet Faker) and the Come” (2006) and the loops. That track metaphor for Mr. Green’s hope
members of Innov Gnawa, a “Black Sands” has a gentle gran- for living in his new setting. Is my therapist looking me up?
Brooklyn-based group that per- (2010) expanded his sound pal- deur that foretells what follows. Mr. Green and his ensemble They might be, but that could be a good
forms a form of traditional Mo- ette with contributions by horns, As in the past, Mr. Green chose will tour behind “Migration” be- thing if it informs the work. The impor-
roccan trance music. Despite its drums and strings, while Mr. his vocalists with care. On “Sur- ginning Feb. 15 in Hamburg, Ger- tant thing is that they are honest with
ambitious scope, “Migration” is a Green played keyboards, guitars, face,” Ms. Miglis’s voice oscillates many, with a month-long North you about it if you ask.
tranquil, contemplative recording vibraphone and, notably, an up- to dart between beats, while on American tour to start on April
that projects a feeling of misty right bass that gave him a signa- “Bambro Koyo Ganda” the contri- 24 in Toronto. (See bonobomu- How can clients know if they have a good
melancholy. ture sound on the bottom. “The butions of Innov Gnawa help Mr. sic.com for dates and locations.) working alliance?
When we spoke by phone North Borders” nods toward Afri- Green create a style of North Afri- He’ll use a five-piece band that It should feel like you’re both working to
shortly before Christmas, the can music with the sounds of can electronica. Set against the will likely give the music a sense solve the same problem. If you feel like
40-year-old Mr. Green said he is percussion instruments like the melodic thump of the bass and of intimacy appropriate for an you come out of it with the power to
still acclimating to his new kalimba, also known as a thumb warmed by brass, Mr. Milosh’s album that ultimately speaks to make changes within you, the alliance is
home in the Echo Park neighbor- piano, and the xylophone-like soft, sweet vocal is essential to the comforts of home. working.
hood of Los Angeles. balafon. As the 2014 album “The the romantic character of “Break
“When you’re traveling, it’s North Borders Tour—Live” dem- Apart.” So ideal is Mr. Milosh’s Mr. Fusilli is the Journal’s rock Write to Elizabeth Bernstein at
easy to ignore your situation. onstrates, Mr. Green’s music blos- contribution that it was surpris- and pop music critic. Email him elizabeth.bernstein@wsj.com or follow
But once the dust settles, it somed with the support of on- ing to learn Mr. Green wrote the at jfusilli@wsj.com and follow her on Facebook, Twitter and Instagram
catches up with you,” he said. He stage musicians, including horn song for Damon Albarn, who was him on Twitter @wsjrock. at EBernsteinWSJ.
Weather The WSJ Daily Crossword | Edited by Mike Shenk

Shown are today’s noon positions of weather systems and precipitation. Temperature bands are highs for the day.
20s 20s d t
Edmonton 0s 10s <0 1 2 3 4 5 6 7 8 9 10 11 12 Down 33 Alaskan island
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10s 0s 13 14 15
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Calgary
0s 10s 2 Appearance 34 Ultimate
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Winnipeg 16 17 18
30s ttl
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35 Tale of Titans,
3 2006 Denzel
Por
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Helena -0s 0s Ottawa A Washington
10s Bismarckk 40s movie
Eugene Billings 22 23 24 25 37 Emphatic retort
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40s
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Toronto b y Boston 50s
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p s / . Paul
Mpls./St. P A ban
Albany
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es Moines Chicago Pit b h
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h
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Indianapolis 50s Ph
Phila
h d lph
Philadelphia 36 37 38 39
alt Lake City
Sacramento Salt Springfield
Denver 20s 90s 7 Flat-topped hill 43 “___ frog” (part
an Francisco
San k
Topeka St.. Louis Charles
h
Charleston h g onn D.C.
Washington DC 40 41 42 43
C l d
Colorado h d
Richmond 100+ of a brew in
50s L
Las Springs 30s Kansas Lou
Louisville 8 Come to light
Vegas hit
Wichita City 60s i h
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Santaa F
Fe 40s h
Nashville
9 Changes plane
A
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Los Angeles k homa City
Oklahoma City Ch l tt
Charlotte
Mem phi
h
Memphis 47 48 49 50 reservations 45 Employ to treat,
Ph
Phoenix Ab q q
Albuquerque A
Atlanta C b
bi
Columbia
San Diego 60s L e Rockk
Little Warm Rain as a medication
T c
Tucson 50s 51 52 53 54 55 56 10 Parting word
J k
Jackson gh
h
Birmingham 70s
F . Worth
Ft. Worth D ll
Dallas Cold T-storms 46 Windows
P
El Paso 57 58 59 60 11 Like some waves precursor
60s bil
Mobile J k
Jacksonville
A ti
Austin
t
Houston Stationary Snow
and basins
20s 70s l d
Orlando 61 62 63 47 Stays fresh
ew Orleans
New
10s 70s an Antonio
San Ta p
Tampa 12 Crystal gazers
Showers Flurries 64 65 66 48 Waffle topper
A h g
Anchorage
Honolulu
l l 80s Miami 14 Really reeked
30s 80s
80s 49 “___ the World”
40s Ice 17 New York tribe
DOUBLE HEADER | By Samuel A. Donaldson 52 Bulldog’s school
21 It flows past
U.S. Forecasts City
Today
Hi Lo W
Tomorrow
Hi Lo W City
Today
Hi Lo W
Tomorrow
Hi Lo W
Across 22 “I’ve Been 47 Sneaker brand
Turin 53 Vaper’s need, for
s...sunny; pc... partly cloudy; c...cloudy; sh...showers; 1 “Fight of the Working on the founded by two short
Omaha 25 8 c 19 7 pc Frankfurt 36 33 sn 41 28 sn
t...t’storms; r...rain; sf...snow flurries; sn...snow; i...ice
Orlando 84 64 pc 79 54 c Geneva 37 24 s 35 27 sf Century” loser Railroad” girl European 23 Heaps
Today Tomorrow Philadelphia 50 44 r 54 29 pc Havana 86 61 pc 83 64 pc emigrants 55 March Madness
City Hi Lo W Hi Lo W 4 Innocent 25 Halloween 24 Go on foot org.
Phoenix 64 45 pc 65 48 pc Hong Kong 73 66 s 74 68 s
Anchorage 16 12 s 23 14 pc Pittsburgh 51 37 r 38 20 sf Istanbul 49 40 pc 49 42 pc reply to an spirits 50 Beginning
26 Wad of tobacco 56 Crown sparklers
Atlanta 69 51 c 57 34 pc Portland, Maine 40 33 r 44 25 r Jakarta 90 78 t 87 77 t accusation 26 One way to 51 One way to see
Austin 75 41 pc 55 35 pc Portland, Ore. 31 24 s 32 21 pc Jerusalem 51 38 pc 51 40 pc 27 Island dance 59 Juan Perón’s
Baltimore 49 44 r 54 29 pc Sacramento 50 48 r 56 40 r Johannesburg 84 56 t 67 55 r 9 “Dagnabbit!” dance 54 Carrying out
Boise 24 13 sn 28 12 sf St. Louis 48 20 c 30 19 pc London 43 38 pc 46 29 pc 28 Prague person wife
Boston 45 41 r 51 30 pc Salt Lake City 33 27 sn 35 24 sn Madrid 51 35 pc 53 31 s 13 Oui’s 30 Runs smoothly 57 Part of QED
Burlington 40 33 r 41 23 sn San Francisco 55 53 r 58 48 r Manila 89 76 s 89 75 s opposite 29 In this matter, in 60 Low card in a
31 Move like mud 58 One way to legalese royal flush
Charlotte 65 53 t 65 36 pc Santa Fe 46 23 pc 49 28 pc Melbourne 70 56 pc 85 62 pc
Chicago 41 16 c 21 8 pc Seattle 32 21 s 36 21 s Mexico City 77 48 s 77 46 s 14 Blackjack meet
player’s 32 Sacred song
Cleveland 52 33 r 34 22 sf Sioux Falls 14 -4 c 8 -2 s Milan 44 27 pc 46 34 s Previous Puzzle’s Solution
Dallas 62 35 pc 47 31 pc Wash., D.C. 52 45 r 55 32 pc Moscow 21 5 sf 15 13 sn strategy 36 In the style of 61 Unalloyed J A W P I A F P L A I D
Denver 27 11 sn 24 5 sn Mumbai 92 65 pc 88 69 pc O L E A H O R A R U S S O
15 TV’s Falco 62 Martini
Detroit
Honolulu
47 28 c
80 63 s
31 19 sf
79 65 pc
International Paris
Rio de Janeiro
38 33 pc
90 77 sh
43 29 c
95 80 s
37 Subject for
garnishes
A
N
L
O
I D
G G I
O
N
N T T O
I W I
U
S
C
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HM E
Today Tomorrow 16 One way to Dante T H R E E B E A N S A L A D

Houston 74 47 s 59 46 pc Riyadh 78 48 s 71 46 s A U T O S K I E R A
Indianapolis 51 23 c 29 16 pc City Hi Lo W Hi Lo W Rome 58 36 r 52 39 s confront 39 Put down 63 1960s war zone, K A N S A N S A G A I N
Kansas City 33 14 c 24 12 c Amsterdam 45 41 r 45 32 sh San Juan 85 71 s 86 73 s someone for short B E R G G O O F F U S E S
Las Vegas 56 42 pc 60 50 c Athens 56 45 pc 58 47 pc Seoul 41 31 s 45 26 pc 40 Declined L A M E R S I L E N T S
Little Rock 64 35 c 43 27 s Baghdad 59 37 s 59 40 s Shanghai 58 47 s 60 50 c 18 Wait 64 Burned rubber O N O O Y S S I R S
B U R S T W I T H P R I D E
Los Angeles 62 50 c 62 54 sh Bangkok 90 78 pc 91 77 pc Singapore 85 77 c 88 77 t 42 Slurpee kin U T H E R P O T E N T
Miami 84 71 pc 84 64 pc Beijing 52 23 s 47 22 s Sydney 76 68 pc 75 69 pc 19 Director 65 King Lear’s C R Y M E A R I V E R C E O
Milwaukee 40 14 c 19 5 pc Berlin 39 36 r 39 25 sn Taipei 73 69 s 77 68 s Kurosawa 43 Clinical study middle daughter B O O E R R E A R S A M P
S O U R S A S I S L Y E
Minneapolis 25 -1 c 5 -5 pc Brussels 39 37 pc 43 31 sh Tokyo 56 41 s 54 41 pc
Nashville 66 39 c 42 28 pc Buenos Aires 84 67 t 87 62 t Toronto 41 33 c 35 18 sf 20 One way to 44 One way to 66 Stockholm-based The contest answer is THE END OF THE YEAR.
New Orleans 72 53 pc 63 47 pc Dubai 79 67 pc 80 67 s Vancouver 29 18 s 32 21 s grin give some air airline The last letters of each of the theme answers spell
New York City 46 43 r 52 31 pc Dublin 43 37 c 46 34 pc Warsaw 35 30 c 37 21 sn one word of the contest answer (like THE from
Solve this puzzle online and discuss it at WSJ.com/Puzzles.
s
Oklahoma City 43 22 pc 35 22 pc Edinburgh 48 36 c 41 26 pc Zurich 30 23 s 35 25 sn DON’T TOUCH ME).

LIFE & ARTS

DREAM SPACE
An Engraver’s
Many Muses
Jennifer Bower finds inspiration in ‘Star Wars,’ a
family heirloom and the Michigan landscape
MARK FELIX FOR THE WALL STREET JOURNAL (3)

Jennifer Bower, an engraver and
tinsmith, in her Traverse City, Mich.,
studio, where she has worked on
items such as a tape measure, far
left, as well as an antique car.
sometimes in their own handwrit-

happen until a chance meeting ing. “There was a couple who once
BY GRACE L. WILLIAMS
eight years ago with an engraver accidentally said ‘Lerb Yerb’ in-
of rifles and knives. The engraver stead of ‘Love You.’ It became
FOR ENGRAVER Jennifer Bower, didn’t tutor her directly but after their own little phrase and I en-
the muse is never far away. When some trial and error, she cut her graved it onto a charm for them,”
seeking inspiration, she simply preliminary lines and circles at his she says. She also has engraved
picks up a sketchbook and ob- bench. “He suggested I keep re- less-predictable items, including
serves the northern Michigan peating those on my own and antique tools. One memorable
landscape outside her studio. eventually branch out into other commission: A maker of wooden
Ms. Bower has always enjoyed designs once I had consistently duck calls asked her to engrave
drawing, lettering and calligra- round circles and consistently bands that he affixed to the de-
phy—practices that all play a role straight lines,” she says. Her early vices. Her Instagram audience has
in her engraving. Working with efforts “looked so bad,” she says. grown to more than 24,000 follow-
her hands also is second nature. “It was hard and frustrating to me ers, after she uploaded a short
As a child, “I was always making because I [really] wanted to do it.” video of herself engraving a tape
little gadgets and really into art, Engraving is a painstaking pro- her husband built a 3,000-square- it’s inspirational for me to have it measure.
all the facets of being busy and cess. To begin, Ms. Bower draws foot facility to house their work- in my workspace.” Recently Ms. Bower has taken
doing things,” she says. preliminary designs in a sketch- shops and a gallery where they Ms. Bower surrounds herself up wood turning, which involves
Now 36 years old, she grew up book with a pencil. When happy sell their creations. Her 600- with childhood toys and collect- shaping wood with a lathe. Her
in a family where office work was with the initial sketch, she trans- square-foot loft overlooks several ibles, especially “Star Wars” mem- husband bought her a small lathe
the norm, and attended college in- fers the design to metal, often wooded acres. She pays particular orabilia. Her desk hosts an ever- and showed her how to hold the
tending to become a teacher. with a fine-point marker. At her attention to patterns on leaves expanding array of pens, pencils tools and sharpen them. Ms.
When she started dating Nathan workbench, she uses a microscope when coming up with her engrav- and markers. Writing instruments Bower is applying the same self-
Bower, a clock maker who is now while cutting and removing tiny ing designs. “are an addiction,” she says. “Ev- taught method that is largely how
her husband, she admits with a bits of metal with a sharp blade One cherished heirloom in her ery time I go to the store, I go she approaches engraving. Soon,
laugh, “I asked him: ‘So, you make called a graver. The metal comes studio is a mahogany desk that her home with one.” she aims to tackle blacksmithing.
clocks and earn a living at it?’” off in small curls, leaving behind grandfather fashioned in the She has worked on jewelry and “In the last handful of years, I
She put teaching on the back shiny, engraved lines. Attention to 1950s. “It’s one of the few pieces wedding keepsakes, such as pen- came to realize that it’s OK to try
burner and helped her husband detail is crucial because the cuts of family history I have,” she says. dants, bracelets and charms. Cli- things and fail,” she says. “You’ll
run his clock business. Her “aha aren’t erasable. “To think my grandfather was in- ents have asked Ms. Bower to en- never know if you like it or if
moment” as a craftsman didn’t Four years ago, Ms. Bower and terested in making things by hand, grave charms with words, you’ll be good at it unless you try.”
MATT ROTH FOR THE WALL STREET JOURNAL
Pendry’s minibars feature products from Australia’s Vittoria Coffee and some local purveyors. The
minibars are automated and charge guests automatically when they remove an item.
HOTELS ally between $300 and $500

per night. The first two Pen-
drys will open in San Diego
British nobleman and a Cali-
fornia surfer girl, to be the
brand’s mascot. But they ul-
in January and Baltimore, on timately ditched him. “I
Continued from page A11 a refurbished historic pier in didn’t want to create a fake
brands they hope will be the trendy Fell’s Point neigh- face of the brand,” says Alan
more appealing to both trav- borhood, in March of 2017. Fuerstman, 60, who started
elers and real estate owners. Pendrys will have more working in the hotel busi-
Many hotel companies don’t amenities than the typical ness as a doorman in high
actually own their proper- boutique—there’s bell ser- school in New Jersey.
ties. Instead, they franchise vice, 24-hour room service Since then, they have
the brand or operate the ho- and concierges—but with a been figuring out the details
tels for owners. funkier design and hipper of the new brand—and which
The hotel business is do-
ing well these days. After
vibe than traditional luxury
brands: San Diego will have
aspects of Montage they will
include and which they will
Code Breakers
struggling during the reces-
sion, occupancy rates rose to
a nightclub and a beer hall;
Baltimore will feature a
need to skip to stay on bud-
get.
Wartime Cipher Machines
65.4% in 2015, up from 57.6% whiskey bar. Pendry will have turn- Historical significance. Outstanding rarity. Mechanical masterpieces.
in 2010, according to STR, a When the Fuerstmans were down service and the same The successors to the legendary German Enigma machine, these
company that tracks and an- dreaming up the brand, they beds and sheets as Montage. rare cipher machines are extraordinary military relics. Magnificent
alyzes hotel data. The aver- had a target traveler in mind, But, while guests are rou-
age daily rate jumped to a “mid-30s, active, affluent, tinely escorted to their
examples of 20th-century innovation, these cipher machines are
$120.30 from $98.06 during engaged, well-traveled guest,” rooms at Montages, they among the most highly sought-after wartime collectibles in the world.
the same time period. says Michael Fuerstman, the won’t be at Pendrys. And (left) SWISS NEMA CIPHER MACHINE
Mr. Fuerstman, founder Pendry brand’s 33-year-old while Montages have two
and chief executive of Mon- co-founder and creative direc- sinks, a bathtub and shower,
Rare war machine model. Circa 1946. 13”w x 15”d x 53/4”h. #30-5523
tage and his son, Michael Fu- tor. They also had a motto: Pendrys will generally have (right) HAGELIN C-446-A CIPHER MACHINE
erstman, decided to launch “Know Thyself.” But they just one sink and no bathtub. Lightweight model used by the Dutch Army. Circa 1944.
Pendry when they found didn’t yet have a name. Mi- As for the slippers, Mi-
themselves having to turn chael Fuerstman says he chael Fuerstman says the
73/4”w x 51/2”d x 4”h. #30-5639
down potential deals to open Googled “Know Thyself” and property in San Diego won’t
new Montage hotels. To suc- “somehow found this house of have them in the rooms be-
cessfully operate Montages, Pendry in the far recesses of cause its competitors don’t—
which are in prime locations the Internet,” he says, a Brit- and it will save money. In
and have lavish spas and ish noble family whose motto Baltimore, however, he ex-
large guest rooms, the Fuer- was also “Know Thyself.” pects to compete most
stmans say they need to (Montage was able to trade- fiercely with the Four Sea-
charge at least $600 per mark “The Pendry” and soon sons Hotel Baltimore, which 630 Royal Street, New Orleans, Louisiana • 877-677-2801 • ws@rauantiques.com • rauantiques.com
room per night on average. hopes to drop the “the.”) opened in 2011. Whenever he
But there aren’t too many The Fuerstmans consulted has stayed at the Four Sea- Since 1912, M.S. Rau Antiques has specialized in the world’s finest art, antiques and jewelry.
destinations where travelers an advertising firm, who sons, he found slippers in his Backed by our unprecedented 125% Guarantee, we stand behind each and every piece.
will pay that kind of price. urged them to create a fic- room. So the Sagamore Pen-
Pendry hotels, by con- tional Mr. Pendry character, dry Baltimore will have them
trast, will have rates gener- the globetrotting son of a in the rooms too.
SPORTS
NFL | Jason Gay
My (Nonexistent) MVP Vote: Dak

Let’s discuss who
should be the NFL MVP,
shall we? It’s either
that, or talk about the
Alabama-Clemson re-
match. I know it was a
good game last year, but this Wis-
consin Badger would rather go on a
white-water rafting trip with two
dozen of my University of Michigan
work colleagues than feign exuber-
ance for the Tide and Tigers run-
ning it back again in 2017. (Sorry,
Handsome Nick Saban.)
I don’t have an NFL MVP vote. I
don’t even know how you get one of
those things. The only award I get
to vote on is Best Dad, where every
year, I write my name on the ballot,
and somehow I continue to lose in a
landslide to the cat. I think this is
possibly voter fraud, but then again,
the kids really do like the cat.
This year’s NFL MVP race is
considered a humdinger. There’s
no obvious, runaway favorite, so
this means we all yell at each
other about it for several weeks.
A case can be made on behalf of
a number of players. There’s At-
TOM PENNINGTON/GETTY IMAGES

lanta quarterback Matt Ryan, New
England’s Tom Brady, Oakland’s
Derek Carr, Detroit’s Matt Stafford,
and now Green Bay’s Aaron Rod-
gers, whom everyone two months
ago assumed had been captured
and consumed by flesh-eating
zombies. There are the running
backs Le’Veon Bell of Pittsburgh Dallas Cowboys quarterback Dak Prescott has thrown 23 touchdowns and four interceptions. His 104.9 passer rating is the highest ever for a rookie.
and David Johnson of Arizona.
There is the pair of rookies in Dal- TD/0 INT six-game winning streak tute. They finished the season 13-3 Still, quarterback is a more preternatural composure on the
las: running back Ezekiel Elliott to make the playoffs and get all of and are the NFC’s top seed. And complicated, urgent and tone-set- field and as well as in the hothouse.
and quarterback Dak Prescott. Wisconsin off his back. Prescott isn’t a sub anymore: Romo ting position. I doubt Elliot would He has overcome early skeptics,
There are also clever, idiosyn- Brady returned from a four-game is healthy enough to play, but even challenge that. mid-season skeptics, late-season
cratic suggestions, like the Cowboys shrinking-football suspension to go he’s conceded that Prescott has The last and most common ar- skeptics and even the impish com-
offensive line, which was fearsome 11-1 with a stunning TD to INT ratio more than earned the job. gument against Prescott or Elliott ments of the team’s owner, Jerry
in blocking for both Prescott and (28 to 2) and found new targets Now there are several arguments for MVP—is Dallas’ offensive line. Jones, who couldn’t help but hint at
Elliott, or the Cleveland Browns, when his runaway birthday party against Prescott winning MVP. The Without that Cowboys line man- a possible Romo return. Prescott ap-
which padded so many schedules pony Rob Gronkowski went down first is that he’s just not statistically handling defenses, it would have pears born to do this, and his foot-
with easy wins and easier laughs. with an injury. Plus, he’s Tom up to par with Ryan, Rodgers, or been a different story. Put Prescott ball team now embodies his impres-
Look, we can go around and Brady, man. He’s already made a Brady. This is inarguable—though on the Los Angeles Rams, the argu- sive calm. There’s a reason Romo
around with this for the next sev- case as the best QB of all time. He’s Prescott’s 104.9 passer rating is the ment goes, and see what happens. knew he couldn’t make a stink about
eral days, or we can get right to almost 67 years old, looks 22, and highest ever for a rookie QB, and I get the praise for the Dallas getting his old job back. The Cow-
my pick: Prescott. hasn’t eaten refined sugar in what his 23 TD to 4 INT ratio displays line, but I don’t really know what boys got very comfortable in the
Now I am sure that plenty of appears to be a decade. outstanding control, he doesn’t to do with hypotheticals like that. new guy’s hands.
you right now are thinking: What It’s hard to argue with giving have the comic book numbers like Put Steph Curry on the Brooklyn Quarterbacks like this don’t
an idiotic column. To which I re- the prize to Ryan, Rodgers or some of his competition. (I do take Nets! Put Roger Federer on the To- come along all the time. The job is
spond: How is this different than Brady. But let’s argue, anyway. Al- issue with the suggestion that ronto Maple Leafs! Put Meryl very hard, and the pool is terribly
any of my columns? low me to make an emotional if Prescott was simply following a hy- Streep in The Fast and the Furi- shallow. We all know that each
Please know: I do not believe imperfect case for Prescott. per-conservative game plan, as if all ous! Put Portland, Ore., in Florida! week, a third of the NFL starts a
Prescott will actually win the All of us know the back story: he had to do was hand off to Elliott You can only play the hand that’s wheelbarrow full of rusty plumb-
award. It will probably go to Ryan, Cowboys veteran starting quarter- and take a nap.) dealt. All Prescott could do was be ing supplies at QB. When you play
even though NFL insiders can be back Tony Romo goes down with a A second argument against a Cowboy. And he did it far better a quarterback like that, the game
snobby and treat the Falcons like back injury in the preseason. Prescott as MVP is that he isn’t than anyone could have expected. is effectively lost before it starts.
they’re discount box wine. Ryan Prescott, an unheralded fourth- even the best rookie on his own This will make some folks mad, It’s the most important position in
has the best 16-game statistical round pick out of Mississippi team. This is also true! Elliott, because it sounds snotty and I know sports. Getting the right one can
performance (4,944 yards, 38 State, is given the starter’s job. In pound for pound, is a more elec- there are a lot of Cowboy haters out change everything.
touchdowns, seven interceptions) Sports Illustrated’s 2016 preview, tric football player than Prescott. I there, but I think geography counts Dak Prescott isn't a wheelbarrow
for what was the NFL’s best regu- only two of 12 football writers doubt Prescott would challenge for something in this. I think it’s full of rusty plumbing supplies.
lar-season offense. There’s now picked Dallas to make the playoffs. that. At 1,631 rushing yards on the harder to pull off what Prescott He’s the best story in the NFL
also a late-breaking chance it You know what happens next: year and 5.1 yards per carry, El- pulled off in a cuckoo football city this year, and he’s my MVP. If you
could go to Rodgers, who led the Prescott is a stellar substitute. liot’s as exciting an offensive like Dallas. Cowboytown is Crazy- don’t agree, fine, vote for someone
once 4-6 Packers on a do-or-die, 15 Check that: he’s a historic substi- player as there is at the moment. town. And yet Prescott has shown else. Or the cat.
COLLEGE FOOTBALL Clemson was busy preparing for its

Alabama quarterback College Football Playoff semifinal
Jalen Hurts played against Ohio State, Venables
How Clemson the role of Clemson’s

Deshaun Watson in
practice last year.
benched himself. He wanted some-
one who could be Buckeyes star J.T.
Barrett. He realized that a 46-year-
old linebacker wasn’t going to cut
Created Alabama it. That’s why he brought in Tajh

Boyd—again.
Earlier this season, before the
Tigers’ showdown with Florida
State, Boyd visited Clemson after a
ball this season: The sport’s best nearby business meeting and went
BY ANDREW BEATON AND
teams have completely rethought to practice wearing a blazer and
BEN COHEN
the way they prepare for upcoming jeans. Clemson’s players asked
opponents. what he was doing when he
Before last year’s national cham- For years, coaches struggled with changed into football gear. They
pionship game, Alabama coach Nick a dilemma that not even Saban weren’t expecting to line up
Saban had a big problem: finding a could solve. No matter how much against a scout-team quarterback
practice player who could even re- they scouted their opponents, they who happened to be Clemson’s all-
motely simulate Deshaun Watson, couldn’t imitate them effectively in time leading passer.
Clemson’s tantalizing dual-threat practice, because their bench play- They also had no advance warn-
quarterback. ers weren’t good enough. College ing that Boyd would come for their
He chose an anonymous fresh- scout teams consist of scholarship bowl prep wearing the same No. 16
man, unknown to the Crimson Tide players who are buried on the as Barrett, just as he had worn No.
BOB ROSATO/REUTERS
defenders, who had enrolled early depth chart and walk-ons who vol- 12 to mimic Florida State quarter-
at Alabama and was still new to unteer to be tackling dummies. back Deondre Francois. He just
campus. There was no amount of innovation showed up. And it was up to Clem-
Then Jalen Hurts took the field that could make practice players son’s defense to stop him.
and left the entire team slack-jawed. better than the other team’s real They tightened their shoulder
“We didn’t really know what his tal- players. pads and prepared for a quarter-
ent-set was,” said Alabama defen- But this season, with Alabama back with enough zip to throw past
sive back Anthony Averett. “But we chasing its fifth national champion- was doing spread quickly in college was in the camp that believed it was them and enough speed to run
knew as soon as the first play.” ship in eight years, the school that football. As it turned out, the Crim- a brilliant idea. The quality of scout- around them. Boyd ran so much in
was already better than everybody son Tide had checked with the team players was an issue that ran- practice that he was tired after a
else figured out how to practice Southeastern Conference and kled Clemson, too, and Swinney had few series. He even studied Bar-
better than everybody else, too. NCAA, and it was legal for players already stumbled on a makeshift so- rett’s tendencies to give Clemson
Last year’s title game Saban has reimagined his scout to practice with their former col- lution. The quarterback on the Ti- the best possible impersonation.
helped reinvent the way team since the breakout perfor- lege teams. Saban had found an- gers’ scout team this season was “He did a lot of things on his feet
mance last season of Hurts, who other loophole to exploit. someone who is paid millions of dol- that Coach Venables can’t really
college-football teams hadn’t been eligible to play a single It wasn’t long before other lars to do something else: defensive do,” said Clemson lineman Carlos
use their scout teams. game for Alabama. Now, in key po- coaches scrambled to catch up. Ohio coordinator Brent Venables. Watkins.
sitions like quarterback and running State coach Urban Meyer was There were several reasons Ven- Boyd playing Barrett clearly paid
back, Alabama uses practice clones stunned to learn about Saban’s idea ables took on this extra responsibil- off. Ohio State’s offense was anemic
who don’t play for Alabama—at at a news conference, but he imme- ity. For one thing, “nobody can tell in a 31-0 rout on Saturday night—
Alabama and Clemson are back least not anymore. Because they’re diately took his phone out of his me no,” he said. But he also found it the first time any Urban Meyer
in next week’s College Football Play- Alabama alumni. pocket and started thinking about difficult to get a scout-team guy to team had ever been shut out. The
off national championship in a re- When he needed someone to play which of his former players he do exactly what he wanted. He de- Buckeyes didn’t even get close to
match of last year’s title game that star Louisiana State star running might call. Meyer invited ex-Ohio cided it was easier to do it himself. scoring. They weren’t inside the 20-
the Crimson Tide won, 45-40. Sa- back Leonard Fournette, for exam- State linebackers and wide receivers After all, Venables studies the film yard line all night.
ban again needs someone new to ple, Saban called on Trent Richard- to practice with the Buckeyes before and scripts the defense, which Boyd live-tweeted the win from
play Watson in practice. But Hurts son, who won two championships their semifinal against Clemson. means he understands exactly how afar with some friends and steak.
can’t do it anymore. The guy who with Alabama and was the third pick Some coaches weren’t so keen. “I to stress the Clemson defense—even But he wasn’t surprised. What hap-
played Clemson’s quarterback last in the 2012 Draft before he crashed think it’s absolutely ludicrous,” if he played linebacker in college. pened was exactly what he ex-
season is Alabama’s quarterback out of the NFL. The real Fournette Notre Dame coach Brian Kelly said. “I’m actually pretty precise,” Ve- pected—which is why he didn’t go to
this season. ran for a season-low 35 yards in that “Doesn’t sound like college football nables said. “I just can’t throw it the game. “I tried to find any logical
The ascension of Hurts under- game—a 10-0 win for Alabama. to me.” more than 20 yards.” way that Ohio State could beat
scores a radical shift in college foot- The word about what Alabama Clemson coach Dabo Swinney But one day last month, while Clemson,” he said, “and I couldn’t.”
OPINION
The Luck of the Donald BOOKSHELF | By Shai Held
“Everything in
life is luck.”
The words are
the industry from another
coal-killing regulation.
Harry Reid. In 2013 the
The Most
attributed to
Donald Trump
and they con-
tinue to make
then-Senate majority leader
was determined to stop the
then-Republican minority
from blocking Obama nomi-
Overrated Virtue
MAIN
STREET regular ap-
pearances in
nees. So he pushed through
what the New York Times
Against Empathy
By William
the press not- called “the most fundamental By Paul Bloom
McGurn
withstanding alteration of its rules in more (Ecco, 285 pages, $26.99)
E
that the presi- than a generation.” Under the
dent-elect long ago declared it Reid rules, President Obama mpathy is having a moment. The primatologist Frans
GETTY IMAGES
fake news. “I never made this needed only a simple majority de Waal has heralded our time as an “age of empa-
ridiculous statement,” he to get his nominees through, thy,” which he sees as the key ingredient for a kinder,
tweeted in 2014, in language not the 60 votes to stop a GOP more just society. The linguist-cum-political advocate
that sounds much closer to the filibuster. George Lakoff insists that “behind every progressive policy
spirit of @realDonaldTrump. Plainly this made it easier lies a single moral value: empathy.” And advocating for
Even so, it takes nothing on climate change to fossil fu- beginning of this presidential for President Obama. But what he calls “global empathic consciousness,” the social
away from Mr. Trump’s stun- els, immigration and trans- race Mr. Trump raised fears President Trump will enjoy theorist Jeremy Rifkin maintains that only “global empa-
ning Nov. 8 victory to note gender bathrooms, the admin- about how pro-Israel he would the same advantage in a Con- thy” can prevent “global collapse.”
that he enters the Oval Office istration has relied principally be when he said he’d be “neu- gress where his party already Paul Bloom, a professor of psychology at Yale, will have
a very lucky president. For on executive authority to im- tral” between the Israelis and has a majority in both houses. none of it. Not only is empathy a “poor moral guide,” he ar-
notwithstanding the formida- pose the Obama agenda. Palestinians. Now he’s a hero Ted Cruz. When Justice An- gues in his provocative book, “Against Empathy: The Case
ble challenges ahead—a dan- But as this editorial page simply for not insulting and tonin Scalia died in February, for Rational Compassion,” but it is actually “morally corro-
gerous world in which Ameri- has noted, what can be done demeaning the elected choice the Texas senator ran an ad sive.” He calls upon individuals of all political persuasions to
can leadership has been by the pen can be undone by of the Israeli people the way highlighting the importance of “join hands and work together in the fight against empathy.”
diminished, an anemic domes- the pen. By relying on execu- Mr. Obama has. the Supreme Court on issues What justifies this all-out assault on an ostensible vir-
tic economy that has led re- tive power instead of the hard Sally Jewell. Throughout from the Second Amendment tue? In a metaphor he returns to time and again, Mr.
cord numbers of Americans to work of persuading Congress the election Mr. Trump made to religious liberty, highlight- Bloom suggests that empathy, which he defines as “the act
give up hope of finding work, to pass legislation, Mr. Obama coal miners his special cause, ing a clip from an old inter- of feeling what you believe other people feel—experiencing
has set Mr. Trump up for promising to restore mining view in which Mr. Trump what they experience,” is like a spotlight. A spotlight can
some wonderful photo-ops as jobs killed by Obama-era regu- called himself “very pro- direct attention and assistance to where it is needed, but
Ironically, Trump’s the new president uses his lations. Interior Secretary choice” and concluding “we its focus is necessarily narrow. Thus empathy always fo-
own executive authority to Jewell is apparently hard at cannot trust Donald Trump cuses exclusively on what is
opponents have set undo large chunks of the work making it easier for Mr. with these decisions.” captured by its glow.
him up for some Obama legacy. Trump to show he’s making In May Mr. Trump re- While we concentrate on
John Kerry. Put it this way: good on his promise. The ve- sponded by releasing a list of the few whose suffering has
major successes. If you wanted to make Mr. hicle is an 11th-hour rule that jurists broadly in the Scalia become salient for us, we for-
Trump an instant hero to Is- would give federal regulators tradition. Now he can claim a get the many others who also
rael, what would you do? The more power to deny coal-min- mandate because he had re- need our help. Worse, since it
to name two—the curious pol- answer is you’d have America ing permits. leased these names. So once is easier to empathize with
itics of the moment has set abstain from a U.N. Security Here’s the gift: The rule again, Mr. Trump’s critics—in those who are similar to us,
him up for some bigly suc- Council resolution condemn- goes into effect a day before this case constitutional con- empathy all too often reflects
cesses early on. The irony is ing the Jewish state—and Mr. Trump is sworn in as servatives—have set him up to our biases. “Intellectually, a
that it is not so much Mr. then have the secretary of president. That leaves 60 leg- make good on one of his most white American might believe
Trump’s friends as his ene- state give a speech like the islative days for Congress to important campaign promises. that a black person matters just
mies who have put him in this one he just delivered knocking stop it from going into effect Right now the punditry is as much as a white person, but
lucky position. the coalition government of under the Congressional Re- chattering on about how Mr. he or she will typically find it a
The list is long. So let’s Benjamin Netanyahu as the view Act. Already Senate Ma- Obama is using his remaining lot easier to empathize with the
start from the top: “most right-wing in Israeli jority Leader Mitch McCon- time in office to box Mr. plight of the latter than the former,”
Barack Obama. Remember history.” nell has promised that Trump in. Maybe. But so far Mr. Bloom writes. Thus, “empathy distorts
President Obama’s vow that Whatever Mr. Kerry Republicans will use that act Mr. Trump has been blessed our moral judgments in pretty much the same
he wasn’t going to wait for thought he was doing, his out- to kill the regulation. Which by his enemies’ bad judgment. way that prejudice does.” Try as we may, Mr. Bloom insists,
Congress to act? Well, he the-door slap at Israel is of a will likely end with a nice And nothing they are now we are simply incapable of empathizing with more than a
didn’t. And it wasn’t just exec- piece with the booing that the ceremony with Mr. Trump doing suggests his luck—or handful of people at a time because we have limited emo-
utive orders. On everything mention of Jerusalem re- surrounded by grateful coal their bad judgment—is going tional capacity; accordingly, empathy necessarily constricts
from the nuclear deal with ceived at the 2012 Democratic miners as he announces how to change. our vision and entrenches our prejudices.
Iran and the Paris agreement National Convention. At the he and his party have saved Write to mcgurn@wsj.com. Empathy is also innumerate. As many studies have dem-
onstrated, if you show someone a picture of an individual
starving child, she will likely open her wallet. But if you tell
What Does Trump Know About Russia? her about hundreds of faceless, nameless children in need in
some far away place, she will remain unmoved. “If our con-
cern is driven by thoughts of the suffering of specific indi-
Donald Trump they now seem prepared un- fancies himself a better deal- shrugged off Mr. Obama’s ac- viduals,” Mr. Bloom writes, “then it sets up a perverse situa-
says “I know critically to accept President maker. Maybe he hopes Mr. tions against Russia last week tion in which the suffering of one can matter more than the
things that Obama’s conclusion that “the Putin will see him as a kin- by saying “we ought to get on suffering of a thousand.”
other people highest levels of the Russian dred spirit: Big hombre, in- with our lives,” it’s worth What, then, is the proper alternative to all this empathy-
don’t know.” government” had directed stinctive nationalist, zero use wondering whether the presi- induced immorality? Championing the role of “deliberative
He says: “I “data theft and disclosure ac- for liberals and their pieties. dent-elect isn’t committing reasoning” in everyday life, Mr. Bloom argues that “we
know a lot tivities” to influence the elec- Mr. Trump is likely to be the same sin. should strive to use our heads rather than our hearts.” Hu-
GLOBAL
about hack- tion? Why are we supposed to disappointed in these hopes: There’s something else man goodness depends, he says, on an “escape from empa-
VIEW
ing.” And: believe, as ironclad certain- Michael Flynn, his soon-to-be worth wondering about. thy” and a turn towards rules and principles which alone
By Bret
“Hacking is a ties, the judgment of intelli- national security adviser, has It isn’t a secret that the make fairness possible and will lead to a far greater allevia-
Stephens
very hard gence officials who recently described Russia as a key Trump Organization has long tion of suffering. Mr. Bloom does see a place—albeit a lim-
thing to failed to anticipate the rise of member of “an international been entwined with Russian ited one—for emotions in the moral life. He advocates for
prove.” And: “It could be Islamic State? alliance of evil countries” business interests: “Russians compassion, which he insists is “a more diffuse concern for
someone else.” If these are the reasons for make up a pretty dispropor- the fates of others” than empathy. Because such concern is
He says he will tell us what Mr. Trump’s skepticism, so tionate cross-section of our less intensely focused, it can presumably be more widely di-
he knows “on Tuesday or much the better: “Intelli- The president-elect assets,” Donald Trump Jr. told rected and more thoughtfully applied.
Wednesday.” gence,” as Daniel Patrick Moy- a real-estate conference in
Let’s hope so. The presi- nihan used to say, “is not to has his doubts about 2008. It isn’t a secret that Mr.
dent-elect has taken it upon be confused with intelli- Russian hacking. Trump’s campaign was curi- Empathy, Bloom argues, entrenches our
himself to be skeptic-in-chief gence.” But perhaps there are ously studded by figures with prejudices and is ‘morally corrosive.’ But is
when it comes to the U.S. in- less creditable reasons. What are his motives? deep business ties to Russian
telligence community’s con- Long before there was any or pro-Russian figures, includ- reason any more reliable as a moral guide?
tention that the Russian re- hint of Russian meddling in ing Paul Manafort, Rick Gates
gime hacked U.S. computer the election, Mr. Trump had against which the U.S. is at and Carter Page. It isn’t a se-
networks in an effort to swing made no secret of his admira- war. And Mr. Putin’s idea of a cret that businessmen from It is fine and good to argue for a greater emphasis on
the election to Mr. Trump. It’s tion for Vladimir Putin. tough leader probably looks Russia and other former So- reason in moral decision-making—a long line of distin-
entirely possible to believe In 2007 Mr. Trump told more like a Spetsnaz com- viet states have been major guished philosophers past and present would agree—but
that the basis for his skepti- Larry King that the Russian mando than a former beauty investors in marquee projects one wonders whether it is really fair to assail empathy as
cism is sound and prudent. president is “doing a great job pageant impresario. such as the Trump Soho in ferociously as Mr. Bloom does. He writes that “the prob-
Then again, what if it isn’t? in rebuilding the image of Rus- However Mr. Trump’s over- New York and the Trump ho- lems we face as a society and as individuals . . . are often
The benefit-of-the-doubt sia and also rebuilding Russia tures to Moscow work out, tel in Toronto. due to too much [empathy].” Really? More than bigotry,
case comes in three letters: period.” In 2015 he called Mr. they raise the possibility that All this has been the sub- bias or entrenched hatreds? And there is something down-
WMD. As Mr. Trump noted Putin “a man so highly re- his desire for a better rela- ject of fascinating if inconclu- right bizarre about Mr. Bloom’s insistence that “we should
Saturday, “If you look at the spected within his own coun- tionship is shaping his atti- sive reporting, most recently aspire to a world in which a politician appealing to some-
weapons of mass destruction, try and beyond.” Last week, he tude toward the intelligence. by James Henry in the Ameri- one’s empathy would be seen in the same way as one ap-
that was a disaster and they tweeted that Mr. Putin was This is the same approach the can Interest. Peter Schweizer, pealing to people’s racist bias.”
were wrong,” referring to the “very smart!” for not respond- Obama administration ad- the author of “Clinton Cash,” Empathy can indeed limit and distort our moral vision,
intelligence consensus that ing in kind to Mr. Obama’s ex- opted in its first term. Hoping also recently warned that he but Mr. Bloom fails to seriously engage with the fact that
Iraq had a robust and active pulsion of 35 Russian embassy to smooth Senate ratification sees parallels between the reason can also be marshaled for nefarious ends. Gesturing
WMD program at the time of officials. of the 2010 New Start arms- Clinton Foundation and the towards troubling research on how Nazi doctors “used their
the 2003 invasion. He added: The most innocent reading control treaty, it played down Trump Organization. intelligence to talk themselves into doing terrible things,”
“And so I want them to be of these comments is that Mr. information showing that If Mr. Trump wants to dis- he acknowledges that those doctors “would have been bet-
sure. I think it’s unfair if they Trump is seeking to flatter his Russia was violating the 1987 pel the nagging suspicion that ter off listening to their hearts.” Mr. Bloom opens this door
don’t know.” Russian counterpart into a co- Intermediate-range Nuclear his views on Russia are driven but refuses to walk through it. If emotions can sometimes
Fair enough. The media operative relationship, much Forces Treaty. by less-than-honest motives, serve as a corrective to wayward reason, then why the glo-
spent the better part of a de- as George W. Bush and Mr. This is called politicizing he can begin by telling us rification of the latter and the unrelenting suspicion of the
cade swearing they wouldn’t Obama sought to do in the intelligence, and it’s reprehen- what he knows about his Rus- former? Neither reason nor emotion guarantees moral
be fooled again by intelligence early days of their presiden- sible whether done in the ser- sia ties that the rest of us still goodness.
assessments the way they cies. Maybe he thinks he’ll get vice of starting a war or pass- don’t. Mr. Bloom is undoubtedly right that empathy alone
were before 2003. So why do a better result because he ing a treaty. Since Mr. Trump Write bstephens@wsj.com. makes for bad policy: While it can motivate us to care, we
need reason to help us design and implement policies
aimed at reducing suffering. And I am extremely sympa-
Notable & Quotable: Larry Arnn on Trump

thetic to Mr. Bloom’s worry that our moral lives are too
tribal (my word, not his). But like many other human emo-
tions, empathy is double-edged. It can limit our horizons,
From President Larry P. ourselves. There was a Secre- founded in 1844. Education and breathtaking that he but perhaps it can also expand them. We see the enemy as
Arnn, writing in the Decem- tary of the Treasury to man- was a thing to behold in the would appoint some and in- less than human, until we notice her crying over the death
ber edition of Hillsdale Col- age the budget and the United States long before terview others who at least of her child, just as we would. Frans de Waal reaches a con-
lege’s Imprimis newsletter: money of the federal govern- there was a Department. Like- want to restrict the activities clusion antithetical to Mr. Bloom’s: Empathy, he writes “is
ment. To operate, the federal wise people had houses before of those departments so peo- the one weapon in the human repertoire that can rid us of
Since the Founding, twelve government must collect we had a Department of ple can be free. the curse of xenophobia . . . Our best hope for transcending
cabinet offices have been taxes and spend money. And Housing and Urban Develop- We do not know what this tribal differences is based on the moral emotions, because
added to the federal estab- there was an Attorney Gen- ment; they traveled before we election means. That is in the emotions defy ideology.”
lishment. In the original federal (not originally overseeing had a Department of Trans- future. If it means that we It is naive to think that any one thing is “the one
eral government there was a a department) to enforce the portation; they traded before will return to constitutional weapon” to cure what ails us. If we want to learn to care
Secretary of State to handle laws of the federal govern- we had a Department of Com- government, it means the more deeply about others, especially about others who are
the relations of the American ment. One can see that these merce. You can see the line of most important thing that it distant from us, we will need both reason and emotion. But
people with other countries. functions are necessary to the thought. A federal government can mean. . . . we ought to remember that neither reason nor emotion is
There must be such relations. federal government in a way with four cabinet officers The polls tell us that the static. We need not merely to deploy them but also to take
There was a Secretary of War that the functions of other would be a federal govern- American people today live in responsibility for shaping and reshaping them.
(now Defense) to manage the departments are not. ment doing what it has to do. fear of the government. Now
defense of our nation from The Department of Educa- That is why it is breathtaking they have elected someone Mr. Held is president and dean of the Hadar Institute. He
enemies. We have such ene- tion was founded in 1979, that Trump would call for the new, and we will soon know is the author of “Abraham Joshua Heschel: The Call of Tran-
mies, and we must defend whereas Hillsdale College was elimination of departments, if he is good. scendence.”
OPINION
REVIEW & OUTLOOK LETTERS TO THE EDITOR
The FDA’s Rigged Drug Committees Steadfast Refusal to Negotiate in Good Faith
A
mong the Republican priorities in 2017 FDA’s review also relied on a chart to con- In reaction to William A. Galston’s never was a “State of Palestine.” Fol-
should be dismantling a culture of bu- vince the panel that boys on the drug over time Dec. 28 Politics & Ideas “Trump lowing the defeat of these armies, the
Could Be Even More Wrong on Is- Arab League summit in Khartoum in
reaucratic control at the Food and Drug walked no better than patients who were not
rael”: 1967 produced the three no’s—no
Administration that poisons treated. But we’ve reviewed Here’s a two-state solution: How peace, no recognition, no negotiations
innovation and costs lives. A case study in how compelling evidence that about we carve out a chunk of terri- with Israel. From that day to this, the
Here’s an idea: Update part of the agency gets the someone manipulated the x- tory here in the U.S. for ISIS? Oh, leadership of Palestine has steadfastly
the approval process that was axis in later years to make the that makes us uncomfortable? So refused to negotiate in good faith. Af-
patient zero for distorting data advice it wants to hear. results look more damning for why does the West try to jam that ter Israel unilaterally ceded Gaza to
on a drug for Duchenne muscu- Exondys. This contentious vi- same idea down Israel’s throat? Cre- the Palestinian Authority in 2005,
lar dystrophy. sual was treated as gospel. ate a country out of your country for Hamas was elected and proceeded to
We’ve reported on the drama over eteplirsen, Supportive experts were relegated to the your sworn enemies. destroy the industry left by the Israe-
which FDA approved in September and is now public hearing portion of the meeting for brief What’s even more illogical to me, lis, throw the Palestinian Authority
marketed as Exondys 51 by Sarepta Therapeutics. comments. Pediatric neurologists, the geneticist the only reason there’s a debate leadership from rooftops of high
about settlements is because Arab buildings, and embark on a campaign
Midlevel bureaucrats have since disparaged the who discovered the gene for Duchenne, clinical
coalitions from all sides twice—1967 of firing rockets randomly at Israeli ci-
therapy in public, and some insurers are denying researchers and others had to move fast through and 1973—tried to wipe Israel out vilians and building tunnels to attack
coverage. Much of the confusion results from an slides and data. The FDA’s lead reviewer, an eye and failed so badly that they lost and kidnap other Israelis.
April show trial known as an advisory committee doctor, talked for about an hour. territory to the victor. Under exactly Now the U.N. is telling Israel that it
meeting. A process that is supposed to provide The nonprofit Jett Foundation collected data what Geneva protocol is the winner must give up land gained in a defen-
independent advice to the FDA instead became on falls, fatigue and other outcomes that the required to give the loser a country? sive war, which would be a first in
a venue to mislead a panel of nonexperts—and panel more or less ignored. These patient mea- To cap the absurdity, the Palestinian human history. It is telling Israel that
the public—about the drug’s efficacy. sures will be invaluable as rare diseases become state—which does not exist—is a it must give up the Jewish Quarter of
Advisory committees exist so FDA can solicit better understood. FDA has the legal authority voting member of the U.N. Security Jerusalem, where Jews have lived
expert counsel, but the agency stacks panels with to incorporate patient data in decisions, but the Council. If the Palestinians want a continuously for the last 1,000 years.
state so badly, how about the losers It is telling Israel that it must turn its
allies whose career currency is prestige and gov- bureaucracy never does.
of the wars get together and provide entire eastern border into another
ernment funding. Such committees usually vote At the end of the day, panelists vote on ap- some territory? If that’s not accept- Gaza experience. In short, it is telling
the way FDA wants—and then the agency tends proval questions, and even here FDA tilts the out- able, the West should shut keep Israel that it must commit suicide.
to follow the recommendation. On eteplirsen, the come. The agency’s guidance says questions quiet and stop trying to govern Is- The real question is why the U.S.
panel voted 6-7 against accelerated approval af- should have “minimal qualifiers” so as not to con- rael from abroad. should continue to provide billions of
ter a critical FDA review, which was later over- fuse the committee. So let’s look at one of the TIM QUAST dollars to the U.N., an organization
ruled by agency management in a rare exception questions FDA asked the panel to ponder: Denver that stands by while hundreds of
amid unusual public scrutiny. “Do the clinical results of the single histori- thousands of civilians are slaugh-
The 13-member committee that checked out cally-controlled study (Study 201/202) provide In 1967, Egypt, Syria and Jordan at- tered and millions are displaced in
eteplirsen included: a psychiatrist, a stroke doc- substantial evidence (i.e., evidence from ade- tacked Israel with the stated intent of Syria, choosing instead to relent-
tor and several others with no experience in quate and well-controlled studies or evidence destroying the fledgling state and lessly attack the only democracy and
eliminating all the Jews. These armies America’s only ally in the Middle
Duchenne. The agency seldom invites true ex- from a single highly persuasive adequate and
were defeated and the land now called East.
perts because anyone who has ever talked to a well-controlled study that is accompanied by in- the “occupied territories” was ceded BILL EMERSON
drug company is deemed financially conflicted. dependent findings that substantiate efficacy) by Jordan. Just to be clear, there West Palm Beach, Fla.
In rare diseases like Duchenne, that problem is that eteplirsen is effective for the treatment of
more pronounced because the pool of experts DMD?”
can be so limited. Are you still reading? The obfuscation led
Yet meet Caleb Alexander, chairman of the one committee member who voted no, Bruce
committee. Dr. Alexander invited speakers at the Ovbiagele, to deliver this insight: “Based on all
I Threatened to Resign; I Should’ve Done It
meeting to state organizations they represent. that I heard, the drug definitely works, but the “Starr’s Baylor Exit Followed Hid- matter of conscience.
He read this statement at least a dozen times but question was framed differently.” Imagine den Turmoil” (Sports, Dec. 24) is a The moral of the still-unfolding
neglected to mention his own conflict of inter- hearing this if you are the parent of a Duchenne decidedly mixed report on my six- story is threefold: Executives need,
year stewardship at Baylor Univer- more likely than not, to bring in
est: Dr. Alexander has received a large FDA boy.
sity. With all respect, the report is their own executive team; have a
grant, information that is available online. The If FDA is going to run these committees woefully incomplete. Until June 2016, clear understanding with the govern-
conceit is that folks like Dr. Alexander are less merely to achieve a predetermined outcome, in every year of my service, the ing board of what’s expected; and
motivated by pecuniary interests than someone then let’s skip the exercise. Drug sponsors Board of Regents’ leadership gave me should leave, voluntarily, when, as
who has consulted for a company. Dr. Alexander should at least be allowed to object to candidates a highly favorable review and gener- FDR once wrote, “our minds do not
voted against approval. for the panel and be granted time to refute the ously granted, each year, an increas- go along together.” Over the years, I
Sarepta was barely allowed to defend itself at agency’s contentions, as Joseph Gulfo, executive ingly large bonus. In the wake of the threatened on three separate occa-
the meeting, which allowed agency distortions director of the Lewis Center for Healthcare Inno- consultant’s 2013 draft report trum- sions to resign. In each instance, I
to appear as fact. One example: FDA’s documents vation and Technology, has suggested. The pan- peted in the piece, I was promoted to was talked out of it. Of all my mis-
for Sarepta claim that patients “commonly main- els should also include several members who chancellor (simultaneously continu- takes, that was, in retrospect, my
ing to serve as president) and given biggest.
tain ambulation to older ages than is often real- have treated the disease.
a two-year extension on my contract. The good news: For the past six
ized, to 18 years or perhaps even older.” Yet the These changes would return advisory com- Several senior administrators (who I years, Baylor has reached new
same materials for a Duchenne drug reviewed mittee meetings to their original purpose as an had inherited) departed thereafter; heights in every respect (strength
fewer than six months earlier say that “by age outside check on FDA bias or groupthink. If Don- one was fired by the chairman of the of faculty, students, athletics, fund-
10-14, patients become wheel chair bound.” This ald Trump is serious about making government board after warnings of gross insub- raising, diversity and global en-
looks like an attempt to make Sarepta’s clinical accountable to the people who pay for it, FDA is ordination. Equally telling, simulta- gagement), anointed each year by
results look less significant. a prime candidate for reform. neously with my being dismissed as the Chronicle of Higher Education
president in 2016, the board an- as a “Great College to Work For.” It
nounced that I would remain as still is.
Shooting Down North Korea’s Missiles chancellor. In short order, and in sor-
row, I resigned from that post as a
KENNETH W. STARR
Waco, Texas
K
im Jong Un announced Sunday that ful test could provide the North with valuable
North Korea is about to test an intercon- data to work the problem.
tinental ballistic missile that can reach The U.S. has ship-based missile defenses in Wind and Solar Can’t Replace Coal and Gas
the U.S. mainland. If he pro- the region, and intercepting Another truth that climateers trillions of dollars and sacrifice land
ceeds with the test, the U.S. Kim wants the ability the test would have the dual can’t handle (“Climateers Can’t Han- area equivalent to the size of the
should shoot it down. to make U.S. cities purpose of slowing Kim’s nu- dle the Truth” by Holman Jenkins states of Indiana or Kentucky.
The test itself is not a shock. clear progress and demon- Jr., Business World, Dec. 28) is that But the job of meeting full-time
Four previous tests of the Tae- his nuclear hostages. strating an effective deterrent. wind and solar can replace coal and demand on this road is only half
podong-2 missile were dis- Kim may figure the U.S. won’t natural gas for electricity generation. done. Wind turbines only generate
guised as satellite launches, take such action as it prepares America’s economy demands full- electricity about half the time. The
and two of them succeeded in putting objects to inaugurate a new President and South Korea time electricity. Wind and solar only sun only shines about half the time.
generate part-time electricity. It’s a So wind and solar must generate at
into orbit over the U.S. The news here is that the is riven by an impeachment trial of President
long, expensive and land-sacrificing least twice as much electricity when
young dictator is so confident of becoming a full Park Geun-hye. But the U.S. right to self defense road to full-time wind and solar the wind blows and the sun shines.
nuclear power that he has dispensed with the fig provides ample justification, and U.N. Security electricity. The additional 306,000 MW of elec-
leaf of a space program. Council resolutions ban the North from pursuing After the billions already spent and tricity must be time-shifted—stored
This is one more sign that Kim is racing to the its missile program. substantial subsidies that continue, and then withdrawn—to meet later
finish line of full nuclear-weapons capability. Even the defensive use of force carries risks wind and solar generated only 25,000 demand when wind isn’t blowing and
Thae Yong Ho, the No. 2 in the North Korean Em- that Kim would retaliate, but the larger risk is megawatts (MW) of electricity in sun isn’t shining.
bassy in London until he defected, warned last letting a man as reckless as Kim gain the means 2015, or about 6% of U.S. demand. Utility-scale storage for hun-
week that Kim wants to deploy nuclear-armed to hold American cities hostage. Kim evidently Coal and natural gas generated dreds of thousands of megawatts
missiles by the end of 2017. believes that once the North has a credible abil- 306,000 MW, or about 66% of U.S. de- doesn’t exist and must be invented.
mand. Increasing 25,000 to 306,000 Thus the road gets longer in time
The North already has the technology to ity to destroy Seattle or Chicago, the U.S. will
will take decades, billions or perhaps and still more expensive. After fac-
launch a nuclear weapon against South Korea have no choice other than to accept it as a nor- ing this truth, climateers need to
and Japan. But hurdles remain to deploying an mal nuclear state. The Obama Administration, come up with a better answer to
ICBM with a nuclear warhead. Chief among them in consultation with President-elect Donald Trump Should Reciprocate full-time electricity than wind
is a re-entry vehicle capable of withstanding ex- Trump, can demonstrate its bipartisan resolve farms and solar parks.
tremes of temperature and vibration. A success- to thwart that plan. To Abe With TPP Support GEORGE F. STEEG
Shinzo Abe deserves to be com- Potomac Falls, Va.
mended for his commitment to a col-
Murder and Policing in Chicago laborative approach to security in East
Asia (“A Friend for Trump in Asia,”
CORRECTION
P
resident Obama plans a farewell speech investigation by the Justice Department. Review & Outlook, Dec. 28). Your edi-
torial is correct to say that the Trump Snap Inc. is aiming for a valuation of
next week in Chicago, and perhaps he’ll The American Civil Liberties Union has also
administration will find a friend with as much as $25 billion in an initial pub-
notice that while he’s been in Washing- targeted Chicago police, and the department in his leadership. What remains to be de- lic offering. A Dec. 31 editorial, “Where
ton his hometown has become August 2015 agreed to track termined is if Mr. Trump will recipro- Are the IPOs?,” mistakenly said the
the nation’s murder capital As cops retreat under investigatory stops and pat- cate this friendship. Shinzo Abe de- company hopes to raise $25 billion.
and largest gang war zone. political pressure, downs to avert a lawsuit. Offi- clared that the Trans-Pacific
Worth reflecting on is the cers must submit detailed two- Partnership is “meaningless” without
city’s upswell in violence last homicides rise 57%. page reports for each stop, the U.S. An excellent act of reciprocity Pepper ...
year that followed political which a former federal judge would be for Mr. Trump to support
protests against law enforce- and ACLU review for bias. the TPP. Passing this agreement would
And Salt
ment and a pullback in policing. Former Chicago Police Superintendent Garry solidify America’s longstanding com- THE WALL STREET JOURNAL
The Chicago Police Department reported 762 McCarthy told CBS’s “60 Minutes” this weekend mitment to open markets in Asia
while boosting the competitiveness of
homicides in 2016, the most in two decades and that the increase in paperwork has taken time
American exporters. During the nego-
more than in the cities of New York and Los An- away from proactive policing and made officers tiation process, both Japan and the
geles combined. The 57% increase was the big- more reluctant to stop suspicious individuals. Ac- U.S. had to compromise to make the
gest spike in 60 years. Shootings jumped 46% cording to CBS, the number of stops declined deal work. Mr. Trump should ensure
to 3,550, with most occurring in poor and minor- from 49,257 in August 2015 to 8,859 a year later that America and Japan remain long-
ity neighborhoods on the South and West sides. while arrests fell by a third to 6,900. While cur- standing friends by asking Congress to
Police have blamed gang activity, as most vic- rent Superintendent Eddie Johnson denied that pass the TPP.
tims had previously been identified for their police were retreating, he noted at a press confer- BEN RICHMOND
gang ties or past arrests. ence this weekend that anger at police has “em- Portland, Ore.
But gangs aren’t new, and another culprit is boldened” criminals. He also blamed lax enforce-
an increase in caution among police who have ment of Chicago’s strict antigun laws. Letters intended for publication should
come under widespread political attack. Street All of this suggests that the demonization of be addressed to: The Editor, 1211 Avenue
of the Americas, New York, NY 10036,
demonstrations followed the November 2015 re- cops has contributed to Chicago’s surge of vio- or emailed to wsj.ltrs@wsj.com. Please
lease of a video capturing the killing of 17-year lence, with the principal victims being young include your city and state. All letters
old Laquan McDonald, who was shot 16 times minorities, many of them innocent bystanders. are subject to editing, and unpublished
by a white officer. The officer will stand trial for Perhaps the President could include an elegy for letters can be neither acknowledged nor “Just be aware, once you go
returned.
first-degree murder while police remain under these black lives in his farewell. upright there’s no going back.”
OPINION
A Lincoln Lesson for Donald Trump

By Jay Winik elude the often paralyzing seclusion affairs, did an abrupt about face as
A
of presidential leadership. he was stalked by the shadow of
fter his surprise win in Consider Franklin Delano Roose- 9/11 and the invasion of Iraq. Barack
the presidential election velt, who relished the sport of poli- Obama has been tormented by ISIS,
of 1860, Abraham Lincoln tics and who in turn was loved by Benghazi, rising health costs and
gathered a coterie of re- the American people for his joyful Syria.
porters and enthused, grin and his reassuring fireside It is hard not to be impressed by
“Well boys, your troubles are over chats. FDR discovered the unrelent- President-elect Trump’s enthusiasm,
now; mine have only just begun.” ing toll of presidential decision-mak- his seemingly endless can-do spirit
Lincoln didn’t realize how pre- ing when, in the autumn of 1937, the and charisma, and his connection
scient he was, or the challenges he New York Stock Exchange plum- with the heartland’s working man.
would face. meted nearly 40%, its worst day Mr. Trump is getting down to busi-
In response to his assuming of- since 1929. ness with the same irrepressible
fice, most of the South seceded from FDR’s confidence deserted him as spirit and boldness that he has run
the Union. Then the crisis at Fort the economy lost a breathtaking his companies. He is clearly looking
Sumter escalated, threatening to en- four million jobs, leaving Roosevelt’s ahead.
gulf the nation. Lincoln’s cabinet ve- team to bemoan the “depression But Mr. Trump would do well to
hemently favored diplomacy and within a depression.” Usually the look back toward these teachings
evacuating Fort Sumter. But Lincoln, nimblest of leaders, Roosevelt unex- from history too. In doing so, he will
only weeks into his presidency, pectedly equivocated. He was ac- also realize that he is the steward of
cused of treading water, and even the precious fabric of American de-
loyalists rued that FDR “doesn’t mocracy and only one link—a tem-
The president-elect know which way to turn.” porary one at that—in the chain of
In time Roosevelt was able to presidents elected to watch over the
will soon learn stem the economic bloodbath, but nation. Like his predecessors, he will
how little control he only to be confronted by the Nazi realize that humility matters, for he
menace overrunning Europe. Out- will not easily be able to navigate
has over his agenda. wardly, Roosevelt was resolute in the next great crisis looming around
waging World War II. Privately, he the corner. Whether surrounded by
suffered. “I am walking on eggs,” he his team or his tightly knit family
made a pivotal decision, declaring bemoaned. One night at dinner in members, in the final analysis he
that he would “reprovision” the em- 1940 Roosevelt collapsed, a worri- will be rendering his decisions in
GETTY IMAGES
battled Fort Sumter, an action that some incident covered up by the near total isolation.
effectively launched the Civil War. White House. Lincoln once commented that
Lincoln never imagined the war By 1944, as Allied forces readied there was no glory in the presi-
would continue for four terrible their epic D-Day invasion of Nor- dency, only “ashes and blood.” Tru-
years. mandy, Roosevelt’s health was so Inaugural ceremonies for Abraham Lincoln, March 4, 1861. man once said of Dwight Eisen-
Here, in history, lies a warning precarious that doctors gave him hower, “Poor Ike . . . he’ll sit here
for Donald Trump. The president- only a year to live. Sickly and fever- confidence, Mr. Trump will also dis- summit with Nikita Khrushchev as and he’ll say, ‘Do this! Do that!’ And
elect, who has no formal political ish, he was forced to spend a month cover that little is simple about gov- well as in the Bay of Pigs fiasco, nothing will happen.” And even
experience, will soon be buffeted by convalescing in South Carolina. This erning. The presidency is more often prompting the near-disastrous Cu- George Washington, so renowned for
the hard truths that each of our did not stop him from rushing back characterized by the unanticipated, ban missile crisis. Lyndon Johnson, his composure, quivered during his
presidents, including hallowed ones to Washington on the eve of the in- not the anticipated. Just as often, it as capable a politician as there ever address to the Senate after ner-
like Lincoln, invariably discover the vasion and speaking to the American loses its way. has been, harbored altruistic vi- vously improvising in his first inau-
hard way. The first is that whatever people. He knew that only the presi- Recent history powerfully tells sions with his Great Society, only to guration.
his agenda may be before taking of- dent could guide the nation at such a the tale. Harry Truman learned the be undone by the crucible of Viet- Two hundred twenty-eight years
fice, the problems he will confront pivotal time. His doctors were right, burdens within hours of assuming nam. Richard Nixon, so sure-footed later, as Mr. Trump will learn soon
will almost inevitably differ from and Roosevelt died in April 1945. the presidency, when he was faced in foreign policy, was forced to re- enough, little has changed.
what he planned for. The second is Here, then, are the prerequisites with the questions of whether and sign. Jimmy Carter watched hap-
that however involved his advisers, of the presidency. Despite the capa- how to use the atomic bomb—a lessly as the Soviets marched into Mr. Winik, historian-in-residence
however enthusiastic his supporters, ble inner circle he is assembling, weapon that Truman hadn’t even Afghanistan and the Iranians held at the Council on Foreign Relations,
or however gregarious he himself and his innate political skills, Mr. known existed. America hostage for 444 days. And is the author of “1944: FDR and the
may be, tumult is inherent in gov- Trump will learn that the presi- A youthful, slightly cocky John F. George W. Bush, having campaigned Year That Changed History” (Simon
erning. He will never be able to dency is a forlorn place. For all his Kennedy blundered in his ill-fated on a platform of humility in world & Schuster, 2015).
The ‘Fight for $15’: Coming to a City Hall Near You

By Michael Saltsman This creates a difficult patchwork of that price increases would be “negli- The Trump administration should estimate the effects of a higher min-
C
laws for businesses that operate in gible” and effects on employment take steps to educate other cities that imum wage.
all it a New Year’s Day massa- multiple jurisdictions, a problem that were “not likely to be significant.” are considering their own wage man- Mr. Puzder’s department could use
cre for the entry-level job mar- will likely worsen over the next four Yet there is much evidence to the dates on the true consequences. The that exact approach when a city or
ket: As 2017 dawned, the mini- years. Labor groups, frustrated by contrary. Start with the first two cit- current Labor Department under Sec- county is considering a new mandate.
mum wage went up in 19 states and the Republican Congress, will no ies to implement minimum wages, retary Tom Perez has been an enthu- The Labor Department’s experts
more than 20 cities or counties. In doubt intensify their push for city which were studied by Aaron Yelowitz siastic booster of local minimum- could testify at local hearings to ex-
California alone, 12 cities raised their and county minimum wages instead. of the University of Kentucky, with re- wage campaigns. Mr. Trump’s plain the policy’s probable effect on
starting pay requirement, some to as But the quality of local debate, at search support from my organization. nominee to lead the department, res- labor markets, employment, poverty
high as $13 an hour, compared with least on this matter, isn’t always taurant CEO Andy Puzder, is rightly rates and wages.
$7.25 for the federal minimum. what it should be. When left-leaning more skeptical. Critics may complain that these
These local measures—the product city or county councils choose to The Trump administration Having run a food-service com- reports have their own biases, but
of labor-backed advocacy campaigns study the expected result of raising pany, Mr. Puzder understands, better the methodology used by the Con-
such as the “Fight for $15”—are still the minimum wage, the answer is of- should show local officials than most, the effect of a mandated gressional Budget Office was hardly
a relatively new phenomenon. “Living ten a foregone conclusion in service the research proving that labor cost. In an interview with Hugh one-sided. Although its economists
wage” requirements for city contrac- of a political goal. Hewitt this past April, he pointed to estimated that raising the federal
tors or recipients of local tax breaks Take Los Angeles, where a mea- minimum wages cost jobs. a summary, published by the Federal minimum to $10.10 would cost about
have existed since at least 1994. But sure signed in 2015 by Mayor Eric Reserve Bank of San Francisco, of the a half-million jobs, they also said
the first broadly applicable city mini- Garcetti will take the city’s minimum best minimum-wage research. That such a move would lift nearly one
mum wage wasn’t enacted until 2003, wage to $15 by 2020. Two years ago In a 2005 paper, Mr. Yelowitz wrote report showed clear negative effects million people out of poverty.
when Santa Fe, N.M., passed a law when the mayor began pushing his that after the Santa Fe wage bump, on employment: for instance, a drop If local politicians consider that
setting the starting hourly wage at original proposal of $13.25, one of his the likelihood of unemployment of 1%-2% among workers ages 16 to sort of trade-off a worthy one for
$8.50, a 65% increase over the then- deputies sent an email to Ken Jacobs, among less-educated workers jumped 19 for each 10% rise in the minimum their own city or county, they could
prevailing $5.15. Later that year, vot- a sympathetic researcher at the Uni- by more than eight percentage points. wage. consider the Labor Department’s tes-
ers in San Francisco followed suit, versity of California-Berkeley. “We A 2012 study by Mr. Yelowitz of San Explaining this research is clearly timony and duly pass a higher mini-
approving a minimum wage of $8.50 need to demonstrate clearly how this Francisco showed that each $1 in- within the mandate of the Labor De- mum wage. At least they would be
for their town. will help labor and the economy in crease in the city’s compensation partment, whose mission statement doing so with eyes wide open to the
Today, more than 30 cities and general,” the mayor’s office wrote. floor increased the likelihood of un- includes a pledge to “advance oppor- unintended consequences.
municipalities—including Chicago, (My organization, the Employment employment among younger workers tunities for profitable employment.”
much of Los Angeles County, and Policies Institute, obtained these by 4.5 percentage points. In other An appropriate framework already Mr. Saltsman is research director
both Maryland counties adjacent to emails via a public-records request.) words, the increased minimum wage exists. In 2014 the Congressional at the Employment Policies Institute,
Washington, D.C.—have their own The Berkeley team responded by had precisely the result that Econ 101 Budget Office reviewed 60 studies which receives support from restau-
separate minimum-wage requirements. writing a favorable report predicting would predict. and developed a methodology to rants, foundations and individuals.
A Christian Pastor in Turkey’s Prisons

By Sohrab Ahmari informed the Brunsons that they requested anonymity given the sensi- judges, journalists, educators and outlets in six months. Nor is the gov-
A
would be detained pending deporta- tivity of the case.) By all accounts members of the armed forces. ernment’s own rhetoric much better.
ndrew Brunson was elated tion from the country. Norine was re- Pastor Brunson loves Turks and Tur- Now even evangelical pastors are At an anti-coup rally in August,
when Turkey’s Interior Minis- leased after two weeks, but her hus- key. He raised his children in the secret Gülenists. Prime Minister Binali Yildirim de-
try summoned him on Oct. 7 in band was held in the immigration- country, and the Brunsons have had Pastor Brunson’s treatment is also nounced Turkey’s enemies as a “cru-
the coastal city of Izmir. The minis- detention facility for another two “zero issues for 23 years,” their law- symptomatic of growing Christian saders’ army.”
try, the American pastor imagined, months, including two days in soli- yer says. persecution in Turkey. “Turkish Presi- Then there are cases like Pastor
was granting him and his wife, tary confinement. He was initially Yet overnight on Dec. 8 the pastor dent Erdogan sees anti-Christian con- Brunson’s. A court on Thursday denied
Norine, permanent-resident status denied access to legal counsel, and was transferred to a counterterror spiracy theories as an effective strat- his appeal against imprisonment. So
after they’d spent more than two de- two U.S. consular visits didn’t take center, brought before a judge the egy for galvanizing popular support far his is the most serious, but author-
cades preaching the gospel in Turkey. place until after he’d already spent a next day and charged with “member- ities have also expelled a number of
Instead they were arrested and de- month in the facility. ship in an armed terrorist organiza- evangelical missionaries in recent
tained for unspecified reasons. “What’s been frustrating is that no tion.” To this day the limited case An evangelical minister months and shuttered a Protestant
So began a Turkish nightmare the information has been given at any documentation provided to the family church in Antakya for offering “unau-
couple is living to this day. time,” a lawyer for the Brunsons told doesn’t specify which “terror” organi- gets caught in Erdogan’s thorized” Bible courses.
Turkish immigration authorities me in a phone interview. (The lawyer zation the pastor supposedly joined. expanding dragnet after “The idea that Mr. Brunson’s ar-
Court proceedings revealed, however, rest was related to his religious af-
that the Turks may have pegged Pas- July’s coup attempt. filiation is ludicrous,” a senior Turk-
tor Brunson as a Gülenist. ish official told me. “There are
PUBLISHED SINCE 1889 BY DOW JONES & COMPANY Fethullah Gülen is a Pennsylvania- hundreds of thousands of Christians
based imam whom President Recep for his one-man rule,” says Aykan Er- in Turkey who freely exercise their
Rupert Murdoch Robert Thomson
Executive Chairman, News Corp Chief Executive Officer, News Corp Tayyip Erdogan accuses of master- demir, a former member of the Turk- religion.” He added: “It’s absolutely
Gerard Baker William Lewis minding July’s failed coup. For years ish Parliament and a senior fellow at crucial to avoid stereotypes and fo-
Editor in Chief Chief Executive Officer and Publisher Mr. Gülen’s followers worked hand-in- the Washington-based Foundation for cus on the fact that Turkey has
Rebecca Blumenstein, Matthew J. Murray DOW JONES MANAGEMENT:
hand with Mr. Erdogan’s Justice and Defense of Democracies. taken unprecedented steps in recent
Deputy Editors in Chief Ashley Huston, Chief Communications Officer; Development Party to purge the coun- A pro-government columnist in years to promote cultural diversity,
DEPUTY MANAGING EDITORS: Paul Meller, Chief Technology Officer; try’s secular establishment. The rela- July claimed that Mr. Gülen’s mother including religious diversity.”
Mark Musgrave, Chief People Officer;
Michael W. Miller, Senior Deputy;
Edward Roussel, Chief Innovation Officer;
tionship soured in 2013, however, and is Jewish and his father an Arme- Promoting diversity and upholding
Thorold Barker, Europe; Paul Beckett, Asia;
Christine Glancey, Operations; Jennifer J. Hicks, Anna Sedgley, Chief Financial Officer; a power struggle ensued between the nian. Mr. Gülen himself “is a member basic rights aren’t the same thing.
Digital; Neal Lipschutz, Standards; Katie Vanneck-Smith, Chief Customer Officer rival Islamist camps. of the Vatican Council” who “uses Turkey under Mr. Erdogan is fast
Alex Martin, News; Ann Podd, Initiatives;
OPERATING EXECUTIVES:
Most observers in Turkey, includ- the methods of the Jesuit Order that coming to resemble the neighboring
Andrew Regal, Video; Matthew Rose, Enterprise;
Stephen Wisnefski, Professional News; Jason P. Conti, General Counsel; ing members of the opposition, be- captured the Vatican.” Another col- Islamic Republic of Iran. The differ-
Jessica Yu, Visuals Nancy McNeill, Corporate Sales; lieve Gülenists were behind the at- umnist the same month asked ence is that Ankara is a NATO ally of
Steve Grycuk, Customer Service;
Paul A. Gigot, Editor of the Editorial Page; Jonathan Wright, International;
tempted putsch this summer. But whether Gülenists might be hiding the U.S. that shows little respect for
Daniel Henninger, Deputy Editor, Editorial Page DJ Media Group: “Gülen” plays the role of Goldstein in “in churches.” Still another tabloid Washington. Perhaps the Trump ad-
WALL STREET JOURNAL MANAGEMENT: Almar Latour, Publisher; Kenneth Breen, Mr. Erdogan’s personal “1984”—the doctored photographs to suggest Mr. ministration can restore the relation-
Trevor Fellows, Head of Global Sales; Commercial; Edwin A. Finn, Jr., Barron’s;
Suzi Watford, Marketing and Circulation; Professional Information Business:
devious traitor who lurks behind ev- Gülen is a Roman Catholic prelate. ship to its proper balance. Mean-
Joseph B. Vincent, Operations; Christopher Lloyd, Head; ery doner-kebob stand and behind Mr. Erdogan’s defenders insist the while, say a prayer for an American
Larry L. Hoffman, Production Ingrid Verschuren, Deputy Head every tragedy. Under the pretext of president has no say over what’s pastor in an Izmir prison cell.
EDITORIAL AND CORPORATE HEADQUARTERS: rooting out Gülenists, the govern- printed in the papers. But that’s hard
1211 Avenue of the Americas, New York, N.Y., 10036 ment has jailed or fired tens of thou- to believe in a country where the Mr. Ahmari is a Journal editorial
Telephone 1-800-DOWJONES
sands of police officers, prosecutors, state has banned at least 120 news writer in London.
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SpaceX Set to Resume Launches Deutsche

Ex-Chief
Elon Musk’s company testing later this week, indus- a scheduled test firing, accord- percooled fuel can pool in “a spaces.
try officials said, and still ing to the company, a pressur- void or buckle in the liner,” For the short term, the com-
plans to use revised
procedures following
could change.
But if everything checks
ized helium bottle inside the
rocket’s second stage rup-
subsequently breaking carbon
fibers or creating an ignition
pany plans to load helium into
the rocket at a slower pace than
Lands at
out, Iridium Communications tured, leading to a nearly in- source.
September explosion Inc., which has been eagerly
waiting to get the first 10 of
stantaneous explosion.
Investigators have deter-
But the statement also
highlighted the complex,
previously, and it said the tem-
perature of the helium will be
higher than it was the day of
U.S. Firm
BY ANDY PASZTOR its next-generation communi- mined that a complex inter- somewhat tentative nature of the 2016 accident. In the long BY JENNY STRASBURG
cations satellites into orbit play of variables during fuel- the detailed conclusions. term, however, SpaceX said it
Elon Musk’s Space Explora- since the September 2016 fire- ing, including temperature and SpaceX noted that in the end, intends to implement design Anshu Jain has landed a top
tion Technologies Corp. said ball, can anticipate a launch pressure, caused a breach in investigators “identified sev- changes to prevent such buck- job at New York-based Cantor
it plans to resume rocket next Sunday morning. the helium vessel that resulted eral credible causes” for the ling altogether, “which will al- Fitzgerald LP a year and a half
launches on Jan. 8, using re- SpaceX, as the closely held in ignition. failure of the helium container, low for faster [fuel] loading op- after being replaced as co-
vised operational practices de- Southern California company is In its latest statement, and that “corrective actions erations.” chief executive officer of
veloped in response to a fiery called, previously said the explo- SpaceX said the extensive in- address all credible causes.” The statement is notable Deutsche Bank AG.
accident that occurred during sion on the launchpad, which vestigation concluded the acci- The helium container, im- because it indicates SpaceX in- In his newly created posi-
routine ground preparations destroyed the rocket and a sin- dent “was likely due to accu- mersed in a larger tank contends to stick with plans to tion as group-level president,
last fall. gle commercial satellite, was the mulation of oxygen” between taining liquid oxygen propel- fuel its future manned rockets Mr. Jain will help oversee Can-
The tentative blastoff date result of problematic fueling the vessel’s aluminum liner lant, is used to pressurize the with supercooled oxygen and tor’s companywide strategy
for the Falcon 9 from Califor- procedures rather than a design and what is called the compos- fuel tank in flight. As oxygen helium, while astronauts al- and expansion efforts in areas
nia’s Vandenberg Air Force or manufacturing flaw. ite overwrap. The company flows out of the tank during ready would be strapped into including fixed-income and eq-
Base is subject to results of About eight minutes before said testing revealed that su- ascent, helium fills the empty Please see SPACEX page B2 uities trading and prime bro-
kerage, Howard Lutnick, the
New York-based firm’s CEO
Businesses Ready to Ramp Up Investment

and chairman, said in an inter-
view Monday. Mr. Jain will be
based in London and spend a
lot of time in the U.S. and Asia.
After years of buybacks and cash-hoarding, U.S. firms move to spend on factory, equipment upgrades “He’s my partner at the par-
ent company, so his roles are
BY THEO FRANCIS very much vision, direction
AND VIPAL MONGA and then helping build the
teams to execute. It’s not an
U.S. companies are prepar- operating role,” Mr. Lutnick
ing to invest again after said.
years on the sidelines, and Mr. Lutnick said the com-
rising interest rates are un- pany “will be raising signifi-
likely to impede them. cant amounts of capital” to ex-
Executives have grown pand. Cantor’s parent company
more optimistic about is private, but portions of its
growth, in part anticipating businesses are publicly traded,
that President-elect Donald including BGC Partners, a
Trump’s administration and London-based brokerage.
Republican congressional
majorities will bring regula-
tory rollbacks, corporate tax Anshu Jain,
breaks and increased infra- who departed
structure spending. Deutsche Bank
The Federal Reserve last in 2015, will
month signaled interest rates work from the
would rise at a faster pace U.K. at Cantor
than previously projected, Fitzgerald.
showing increasing optimism
about the U.S. economy as it
unanimously approved its Cantor sells trading and in-
second rate increase in a de- vestment-banking services and
JOE WHITE/REUTERS
cade. operates insurance-brokerage

Despite years of near-zero and investment-management
interest rates that made bor- businesses. Mr. Lutnick said he
rowing cheap, many big U.S. sees opportunities to lure
corporations have been more trading and investment-
hoarding cash or plowing A General Motors plant in Michigan. GM borrowed to prop up its pension plans, taking advantage of historically low interest rates. banking business from big
money into safer pursuits in banks in part because of capi-
the wake of the recession. on share repurchases and Steel company Klöckner & tal constraints that have forced
Some, like General Motors $200 million on new stores Co., which generates about Capital Spending in the 21st Century banks to rein in risk taking
Co. and railroad CSX Corp., and other investments. The 40% of its sales from its 50 Capital spending by S&P 500 companies plunged during the since the financial crisis.
borrowed to prop up pension company had built up cash sites in the U.S., expects to financial crisis. Growth returned soon after, but has been Many big European banks
plans. Others, including on its balance sheet and ex- increase spending on steel- weak in recent quarters. have shrunk their businesses,
Home Depot Inc. and Yum ecutives felt they needed to shaping machinery here in cutting jobs and clients.
Brands Inc., used cheap debt return some to shareholders the coming year. The German Quarterly capital expenditures, change from a year earlier “When they cut those cli-
to repurchase shares. Mean- in the absence of better al- company delayed such U.S. 40% ents back, where are those cli-
while, overall spending on ternatives. “The interest-rate investments when demand ents going to go?” Mr. Lutnick
building new factories or up- environment wasn’t giving slowed from industrial cus- said, adding that Cantor has a
grading aging equipment lan- you anything for parked tomers that make everything 20 different risk profile than
guished. cash,” said Robert Lloyd, from railcars to storage banks. The company’s growth
That is likely to change GameStop’s finance chief. tanks for oil producers. Average plans are focused on the U.S.
soon. More recently, the com- Rising interest rates won’t 0 change and Asia, he said.
“We could be in store for pany has shifted tactics. interfere with the planned Mr. Jain, a 53-year-old na-
a significant [capital-expen- GameStop has boosted capi- investments, said Gisbert 3Q 2016 tive of India and British citi-
diture] boom,” said Charles tal spending to roughly $160 Rühl, chairman of Klöckner’s –20 t8.9%* zen, joined Deutsche Bank in
Mulford, an accounting pro- million in 2016 from $125 management board. “If we 1995 and helped build its Lon-
fessor at Georgia Institute of million in 2013 for store re- have to pay 100 basis points don-based investment bank
–40 recessions
Technology in Atlanta. furbishments and expansion more, that’s not an issue for into a global powerhouse. He
In 2010, videogame re- into new categories like col- us,” Mr. Rühl said. “Even 200 2000 ’02 ’04 ’06 ’08 ’10 ’12 ’14 ’16 became co-CEO in 2012 and
tailer GameStop Corp. com- lectibles. Last year, it cut its basis points is not an is- left Deutsche Bank in 2015
mitted to spend $300 million buyback in half. Please see RATES page B2 *Estimate Source: S&P Dow Jones Indices THE WALL STREET JOURNAL. when he and co-CEO Jürgen
Fitschen were replaced by
John Cryan.
INSIDE Today’sChallenge:ThinkLikeaFuturist
As Deutsche Bank’s most
visible executive during his co-
CEO tenure, Mr. Jain came un-
der fire for missing cost-cut-
I
n 2004, Ford Motor ting targets and regulatory and
Co.’s resident futurist, legal woes, some of which still
Sheryl Connelly, led a haunt the bank. The pressure
team that imagined what intensified in the weeks before
would happen if an economic Mr. Jain resigned in June 2015.
shock and a rapid increase in (Mr. Fitschen remains at
the price of Deutsche Bank working with
gasoline led key clients and executives.)
to a crash Mr. Jain continued as a
in automo- part-time adviser to Deutsche
FRANKLY, tive sales.
With the
Bank through the end of 2015
and has been considering op-
SWISS PREFER KEYWORDS 2008 eco- tions since then, according to
MELISSA GOLDEN FOR THE WALL STREET JOURNAL
TO PAY IN CASH CHRISTOPHER nomic

MIMS crash and
people close to him. He has
been advising online lender
subsequent Social Finance Inc., known as
CURRENCIES, B7 bailout of SoFi, and was tapped eventu-
the U.S. auto industry, it ally to join its board, but
seemed as if their scenario hasn’t done so. He potentially
had come true. will remain an adviser to the
But did Ms. Connelly and company, the people said.
her team really predict the Mr. Lutnick said he has
future? known Mr. Jain for many
“I always feel compelled to years, and they have become
tell people that the same friends over the past several.
group also spent time, albeit Their discussions about a role
a short one, talking about Good futurists seek to make their work rigorously quantifiable. Above, futurist and author Amy Webb. at Cantor intensified gradually
what would happen if aliens during the past year.
were to land and religions re- that’s what makes their work highly structured, sometimes Until now, futurism has “I have really longed for a
NESTLÉ PLUCKS acted in a way that led soci-
eties to crumble because they
so vital. Many futurists are
convinced that, now more
monthslong process intended
to come up with as many hy-
been practiced mostly by
large organizations that have
partner,” Mr. Lutnick said, not-
ing the company’s growth
ITS CEO FROM have no more moral infra- than ever, everyone needs to pothetical futures as they to make decisions that might since it was devastated by the
HEALTH SECTOR structure,” says Ms. Connelly.
Predicting the future, it
start thinking like they do.
What futurists actually do
can, in order to help people,
governments and companies
not become policy or prod-
ucts until years in the future.
Sept. 11, 2001, terror attacks
on the World Trade Center in
turns out, isn’t what futur- is facilitate groups of people prepare for more or less Big companies like Ford and New York. Cantor lost 658 em-
MARKETING, B3 ists do. And in a funny way, as they work through a anything. Please see MIMS page B4 ployees in the attacks.
B2 | Tuesday, January 3, 2017 * *** THE WALL STREET JOURNAL.
INDEX TO BUSINESSES BUSINESS & FINANCE

These indexes cite notable references to most parent companies and businesspeople
in today’s edition. Articles on regional page inserts aren’t cited in these indexes.
A
Activision....................B9
Allergan.......................B7
Hamilton Insurance
H
Group.......................R12
Hilton Worldwide
Pfizer...........................B7
Praxair.........................B7
Q
Auto Makers Are Forced to Retool
American International Qualcomm...................B7 BY MIKE COLIAS
Group.......................R12 Holdings..................A11
R
Apple......................B4,B9 HSBC Holdings............B8
Hyatt Hotels.............A11 Relational Investors...R5 Solid December sales are
AT&T............................B7
Autodesk...................R12 Hyundai Motor............B3 Reynolds American.....B7 expected to nudge 2016 to a
I
Royal Ontario Museum second straight record for
B ...................................A10 the U.S. light-vehicle market,
Bank of America.........R1 Iridium Communications
S but factory workers in towns
BGC Partners..............B1 .....................................B1
SAC Capital Advisors such as Lordstown, Ohio,
Blackstone Group.....A10 J
Brevan Howard Asset
...................................R12 aren’t dancing in the streets.
J.P. Morgan Chase.R1,R5 SAC Capital Advisors...... Demand for small and
Management...........R12
British American
K Sachem Head Capital midsize passenger cars has
Management...........R12
Tobacco ..................... B7 Kia Motors..................B3 collapsed amid a sustained
Kloeckner.....................B1 Sakai Display Products
C .....................................B4
run of cheap
Kraft Heinz ................. B3 THE WEEK fuel, pushing
Cantor Fitzgerald........B1 Sharp...........................B4
Casablanca Capital ..... R5
L Snap-On ...................... B2 AHEAD buyers to grav-
CDK Global................R12 Linde............................B7 Space Exploration itate toward
Cempra ........................ B9 M Technologies.............B1 sport utilities,
Chesapeake Energy .... R5 Morgan Stanley..........R1 Stamford Harbor Capital crossover wagons and pick-
China LNG Group........B3 ...................................R12 ups. While selling an increas-
N
JEFF KOWALSKY/BLOOMBERG NEWS

Citigroup......................R2 T ing amount of pricey light
Comcast.......................B3 Nestle..........................B3
New York Yankees......B3
Time Warner...............B7 trucks is good for Detroit’s
Credit Suisse Group ... R2 Twitter ........................ B4 bottom line, it has been bad
Nintendo......................B9
D NXP Semiconductors..B7
21st Century Fox........B3 for the people Glenn John-
Deutsche Bank ...... B1,R2 Two Sigma Investments son has been working with
O ...................................R12
F Och-Ziff Capital
at General Motors Co.’s plant
U in northeast Ohio, which
Ford Motor..................B1 Management Group
Foxconn Technology....B4 Uber Technologies ...... B4 makes the Chevrolet Cruze
...................................R12
Fresenius.....................B3 Universal.....................B5 compact car.
OPKO Health...............B9
G W “The small car has been Low fuel prices have spurred demand for light trucks, forcing Fiat Chrysler and others to shift production.
P
GameStop....................B1 Peloton Technology .... B4
Walt Disney................B5 very good to Lordstown,” said
Wells Fargo.................R1 Mr. Johnson, who is president wanted products to daily tom line. The companies get point. Unlike the last big
General Mills...............B3 PepsiCo........................B3
Goldman Sachs Pershing Square Capital Z of the United Auto Workers lo- rental operators. a vast majority of their prof- downturn late last decade,
Group..........................R1 Management...........R12 Zynga...........................B9 cal that represents the Lords- Car companies are paying its from pickups and SUVs, though, when sales were fall-
town factory’s workers. “But a price for making “the wrong while so-called crossover ve- ing across the board, there
INDEX TO PEOPLE now it’s a perfect storm: low

gas prices and people have
disposable income to buy big-
call” on installing too much
factory capacity devoted to
bread-and-butter sedans or
hicles reap prices $3,000-
$5,000 higher than compara-
bly sized sedans.
could be enough underlying
strength in today’s market to
support Mr. Mohatarem’s
A G P ger, more expensive vehicles.” compact cars, said Barclays John Mendel, head of view.
Ackman, William......R12 Gardner, Terry.............R1 Pelusi, Nando............A11 GM plans to cut about auto analyst Brian Johnson in Honda Motor Co.’s U.S. opera- Sales of light trucks—
Atkins, Paul ................ B7 Goepfert, Jason..........B8 Perkins, Thomas.........R5 3,300 jobs at passenger-car a research note. From 2010 to tions, in December said the which include pickup trucks,
B Golub, Jonathan..........B8 Phan, Matthew...........R4 factories in Ohio and Michi- 2015, the industry added ca- boost in incentive spending by sport utilities and crossover
Gou, Terry ................... B4 gan to deal with the shift. pacity to its North American rival car companies concerns wagons—account for about
Baker, Maggie.............B7 R
Gutfreund, John..........R5 Mr. Johnson, who has been factories for an additional 1.2 him. He doesn’t, however, 60% of overall light-vehicle
Baldwin, Robert H.B...R5 Rahim, Saad................R3 at the Lordstown plant for million cars annually, while foresee an industrywide sales sales and rose 7% through
H
Bassi, Fabio.................R1 Ritchie, Adam.............R3 about 40 years and has installing capacity for roughly plunge such as the 2008 nose- November compared with
Bennett, Naftali.........A7 Howard, Alan............R12 Ruskin, Alan................R3 weathered the industry’s 800,000 trucks, SUVs and dive that was driven in part by the same period a year ago.
Howard, Julian............B8
Bolton, Nigel...............R1 S booms and busts and GM’s crossovers, Barclays’s Mr. inflated U.S. home prices. Overall car sales, meanwhile,
Borowski, Didier.........R1 J bankruptcy, is waiting to see Johnson estimated. Many analysts will be fell 8% through November
Schneider, Ulf Mark....B3
C Jain, Anshu.................B1 Scicluna, Chris............R1
which of his colleagues will GM hasn’t been the only watching to see if auto mak- compared with a year ago,
James, Tony..............A10 be among 1,200 workers cut company to feel the conse- ers can reshuffle capacity despite many rebates.
Carlesi, Francesca.......R2 Siegel, David.............R12
K after the holidays. quences of the shift, as Fiat fast enough to keep industry Barclays’s Mr. Johnson es-
Chen, Kathy.................B4 Stanton, Christopher..R3
Expected strong December Chrysler Automobiles NV in volumes humming at a re- timates a “sedan recession”
Cheung, Frances..........B9 Kostin, David .............. B8 Subramanian, Savita..B8
auto sales may paint two July cut 1,300 positions at a cord pace. GM chief econo- will have companies scram-
Choi Soon-sil...............A8 L Sullivan, Barry............R5 portraits of the industry. One sedan factory in Sterling mist Mustafa Mohatarem bling to cut about 2 million
Cohen, Steven A.......R12 Lawrence, C.J..............R1 T picture is of an industry rid- Heights, Mich. Ford Motor also sees a soft landing, say- units of car production annu-
Connelly, Sheryl..........B1 LeCompte, Steve ........ B8 ing a seven-year growth Co., meanwhile, has been ing that improving consumer ally to make way for more
Tharp, Derek ............... B7
Cooley, Richard...........R5 Lutnick, Howard..........B1 streak, the longest such run slowing production without and business sentiment SUVs and crossovers. This
Treynor, Jack...............R5
D M Turner, Dean ............... R1 since the 1920s and a key in- cutting permanent jobs and should drive sales “to con- trend extends beyond the
Das, Arnab..................R1 gredient to America’s plans to backfill U.S. produc- tinue at or near record levels domestics—last spring, Toy-
Major, Steven ............. B8 W
Dicken, Philip..............R2
broader economic health. tion of slumping cars with into 2017.” ota Motor Corp. retooled a
McDonald, John..........R2 Ward, Karol.................B7
Dimon, Theodore ........ R5
The other is of an industry output of pickups and SUVs. Dealers have long com- cars-only assembly line at a
Meech, Scott...............R1 Weinberg, Peter..........B7 that has a glut of passenger The production cuts will plained that they aren’t re- plant in Princeton, Ind., to
F O Weiss, Christian ......... B7 cars clogging dealer lots, curb first-quarter revenue ceiving enough trucks from be able to build the High-
Ferguson, Scott ........ R12 Och, Daniel................R12 Whitworth, Ralph.......R5 forcing auto makers to offer for Detroit’s Big Three—but manufacturers, and recent lander SUV, helping notch its
Fillon, François............R2 Overdeck, John ......... R12 Wilson, Andrew..........R2 deep discounts or dump unit could be good for the bot- sales trends support their best sales month ever.
SPACEX Impending Mission

Carries Huge Stakes
Continued from the prior page
capsules stacked on top. Such
novel fueling procedures have
SpaceX wants to show that it
can speed up its launch tempo
Economics 101
been shunned by U.S. and for-
eign boosters for decades as po-
tentially too dangerous in case The Falcon 9’s return to
something sparks an explosion flight has slipped from mid-
before blastoff. The practice November to mid-December
also has been challenged twice to early January, as investiga-
in the past year on safety tors assessed specific vari- Why does IBKR
grounds by a NASA advisory ables that may have caused
panel of outside experts. the September explosion. do more trades than
But Monday’s investigative The impending mission
JOHN RAOUX/ASSOCIATED PRESS
update, posted on the com-

pany’s website, suggests SpaceX
carries huge stakes for
SpaceX and satellite-services
any other broker?
is sticking with the general con- provider Iridium. Mr. Musk’s
cept, primarily aimed at speed- company, which has a roughly Because it is the
ing up processing of boosters $10 billion backlog of launch
for launch. Expected design
changes, though, are likely to be
contracts, wants to show cus-
tomers it can speed up its
least expensive.*
implemented before the first launch tempo.
Falcon 9 is slated to lift off with A SpaceX Falcon 9 lifted off last April at Cape Canaveral, Fla. SpaceX suffered an earlier
astronauts in 2018 or later. explosion, 14 months before
Mr. Musk, SpaceX’s founder, around helium vessels and changes entail returning to the 2016 accident, when a
chairman and chief executive, lead to ignition. “flight proven” fueling proce- Falcon 9 broke apart shortly
previously said the explosion Monday’s statement con- dures that have been used suc- after launch carrying cargo Why is IBKR the
prompted the most challeng- firmed that the helium being cessfully hundreds of times destined for the international
ing investigation in the com- loaded last September was over the years. space station. The company least expensive broker?
pany’s 14-year history. “cold enough to create solid SpaceX has been heading determined the 2015 accident
He also has said that fuel- oxygen, which exacerbates the up the accident probe, with was caused by the rupture of
ing practices involving super- possibility of oxygen being cooperation from the National a substandard metal piece Because it does
cooled fuel can result in the trapped” between layers of the Aeronautics and Space Admin- supporting a pressurized he-
formation of solid oxygen, helium vessel, creating an ig- istration, Federal Aviation Ad- lium vessel. more trades.†
which can interact with layers nition source. SpaceX also said ministration, the U.S. Air —Andy Pasztor
of carbon-fiber wrapped part of the operational Force and experts.
RATES Lehman Brothers’ September

2008 collapse. But even as
the economy recovered, total
expenditures took three years
Instead, many businesses
pursued safer alternatives. In
2015 alone, companies in the
Russell 3000 index bought
economist for Capital Eco-
nomics Ltd., a research firm.
“They’re still looking for 5%
or 6% returns, or 10% returns,
How did we get here?
Continued from the prior page to regain the precrisis level, back nearly $700 billion of on investment projects, and In a free economy
sue…It’s still cheap.” Fed offi- according to data from S&P their own shares, the most not realizing the cost of bor-
cials have signaled that they Dow Jones Indices. since 2007, according to Bir- rowing is actually much the best technology wins!*
expect to raise rates by an ad- Companies saw little rea- inyi Associates Inc. Last year lower.”
ditional 0.75 percentage son to invest when U.S. eco- through November, those Some companies continue
point—or 75 basis points— nomic growth was sluggish. firms spent an additional to promise returns echoing
this year, likely in three Quarterly gross domestic $488 billion on buybacks. those common before the fi-
moves. product has averaged an an- nancial crisis. General Electric
The new optimism could nualized 1.5% growth since Co., for example, in 2016 tied DOWNLOAD OUR FREE DEMO
mean the U.S. is poised to the Lehman collapse, com- pay for its executives to a 16%
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has frustrated the usual busi- erage—going back to 1930—of anticipating on capital, in addition to mea- ibkr.com/freedemo
ness-investment cycle. During more than 3%. sures of profitability and
downturns, businesses typi- Another culprit was a re-
regulatory rollbacks growth in cash and earnings.
cally cut capital investment— sistance among corporate and tax breaks. A GE spokeswoman said in-
spending that increases or leaders to lower the minimum vestors expect returns in that
improves physical assets like rate of return on invest- range.
buildings, equipment and
computers. As the economy
ment—known as a hurdle
rate—they would accept from Companies in the S&P 1500
Many executives believed
the Fed would raise interest
Interactive Brokers
picks up, they rapidly boost new spending, largely out of pumped $550 billion into rates relatively soon after the
spending, or risk being over- fear of disappointing share- their pensions between 2008 recession ended, said Aldo
taken by more-aggressive holders. and Nov. 30 last year, accord- Pagliari, chief financial officer Member - NYSE, FINRA, SIPC – Supporting documentation for any
claims and statistical information will be provided upon request.
competitors. “If returns are down and ing to Mercer Investment at toolmaker Snap-On Inc. *According to Barron’s best online broker review on March 9,
Business investment your hurdle rate hasn’t Consulting LLC. That led companies to put off 2015, How Secure Is Your Securities Portfolio. Lowest cost of any
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nancial crisis, falling more ing,” said William Plummer, adjusted to a world of low in- what it would cost to raise trademark of Dow Jones & Company, Inc. † Based on DARTs of
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nies in the 12 months after rental firm United Rentals Inc. worth, chief North American new projects.
THE WALL STREET JOURNAL. Tuesday, January 3, 2017 | B3
BUSINESS NEWS
Hyundai,
Kia Face
Vermont Drug Law Faces Limits
Law requires firms to The industry has lobbied
Pricing Power
Another justify big price jumps, A new Vermont law required several drug makers to submit information explaining why they raised
but first report only prices for prescription drugs. Here is a selection of the drugs and company comments.
against state pricing propos-
als. The Pharmaceutical Re-
search and Manufacturers of
Tough Year includes summaries DRUG/

COMPANY
PRICE INCREASE
USE 1 YEAR CHANGE 5 YEAR CHANGE COMPANY COMMENT
America said in a statement
the Vermont law ignores cost
savings that medicines can
BY IN-SOO NAM BY PETER LOFTUS provide to the health system,
EpiPen/ Says it invested in product
Mylan
Allergy shot
improvement, offers rebates and focuses too much on list
SEOUL—Hyundai Motor A new Vermont law—the prices.
Co. and affiliate Kia Motors first of its kind in the U.S.— Humira/ Says price based on value it brings to Vermont lawmakers in-
Anti-inflammatory
Corp. are bracing for another aims to shine a light on the AbbVie patients, competitive environment cluded the confidentiality pro-
challenging year after missing murky world of prescription- vision out of concern that the
their sales targets for a second drug pricing by requiring Prevacid/ Heartburn It pays significant rebates that reduce industry wouldn’t comply, or
straight year on lackluster manufacturers to justify big Takeda cost for Vermont's Medicaid program would challenge the law in
performances in China, the increases. court, said Ms. Donahue, a Re-
Latuda/ Bipolar Disorder Didn't respond to requests for
U.S. and other key markets. But the transparency push Sunovion comment. publican.
Hyundai and Kia, which to- has its limits, as seen in the Eight of the drugmakers
gether form the world’s fifth- first report that Vermont offi- Enbrel/ Anti-inflammatory
Says higher rebates to pharmacy- listed in the report declined to
largest auto maker by sales, cials prepared based on the Amgen benefit managers drive up list prices share with The Wall Street
on Monday set their combined drugmakers’ explanations. Journal the written responses
sales target for this year at The Vermont law, enacted Lantus*/ Insulin Offers rebates, hasn't raised list price they provided to the Vermont
Sanofi since 2014
8.25 million cars, up 1.5% from in June, instructed state offi- attorney general’s office, citing
a 2016 target of 8.13 million. cials to identify up to 15 drugs Crestor/ Says price based on market the law’s confidentiality provi-
This is a big change from annually with price increases Anti-cholesterol sion. Another company didn’t
AstraZeneca conditions, pays rebates
just a few years ago, when the of at least 15% in the prior respond to requests for com-
auto makers managed to year, or 50% over the prior Abilify*/ Hasn't raised price since Abilify lost ment. A 10th company, Mutual
Antipsychotic
achieve double-digit growth, five years, and on which the Otsuka U.S. patent protection in 2015 Pharmaceutical, couldn’t be
aided by a weak local cur- state spends significant money 0 50% 100% 150% 200% reached for comment. The price
rency, sleek designs and clever through programs such as *Did not exceed the price threshold of 15% in one year of Mutual’s generic antibiotic
marketing. Hyundai-Kia group Medicaid. Sources: Vermont Attorney General's office; the companies THE WALL STREET JOURNAL. doxycycline soared more than
sales growth peaked in 2010. The law requires the Ver- 4,700% in the past five years,
mont attorney general’s office and percentages attributable from the companies’ responses. about their price increases. the report said.
to seek explanations from the to each factor. But none of “Some of the information is The Vermont law is part of Amgen Inc. said in a recent
companies and issue an annual their answers are in the re- probably more synthesized and a broader movement to in- regulatory filing the Vermont
As growth stalls, report based on the responses. port. The 11-page document summarized than what we crease drug-price transpar- law was an example of state
car makers’ 2017 The first report, issued last merely summarizes some of might have envisioned, and in ency, which supporters say government actions that “create
month, identified 10 drugs. They the reasons given, such as the that sense is perhaps a little less could pressure companies to additional pressure on how our
goals will be difficult included Mylan NV’s EpiPen al- industry’s need to invest in re- helpful than we might have rein in costs. Other states in- products are priced.” Amgen’s
to meet, analysts say. lergy treatment, whose price search and manufacturing. hoped,” said state Rep. Anne cluding California are consid- Enbrel anti-inflammatory treat-
rose about 205% over five years; That is because the law has Donahue, who voted for the ering laws similar to Ver- ment was among the drugs
Sanofi SA’s Lantus insulin, up a confidentiality provision, so drug-price transparency bill. mont’s, and in September U.S. listed in the Vermont report; its
90%; and AbbVie Inc.’s rheuma- none of the companies’ writ- The law also doesn’t give the Sens. John McCain and price rose 93% over five years.
However, a change in con- toid-arthritis treatment Humira, ten responses are publicly state the power to cap or roll Tammy Baldwin proposed leg- Several of the companies
sumer preferences from se- up 114%. available. back prices that it deems exces- islation to require drugmakers said in comments to the Jour-
dans—Hyundai’s traditional Manufacturers were asked Jill Abrams, a Vermont as- sive. The state can only levy a to justify to the federal gov- nal they priced their drugs
strength—to SUVs has hurt to submit all factors that con- sistant attorney general, said $10,000 fine to companies that ernment any drug-price in- based on the economic value
the company’s sales volumes tributed to price increases, she couldn’t discuss details don’t provide information creases of more than 10%. to patients and insurers.
and profitability.
“The auto industry is facing
Nestlé Turns to New CEO for Health Push

tougher business conditions
with intensified competition
and a move toward trade pro-
tectionism,” Chairman Chung
Mong-koo said in a New Year’s BY SAABIRA CHAUDHURI Nestlé, but the company has si- from the much-larger general
speech. He said Hyundai and multaneously taken a more rad- nutrition business.
Kia will launch more than 10 After decades of trying to ical path: For years, it also has Despite an array of bets in
new or revamped cars every push into healthier foods, been investing in a bevy of fields such as oncology and
year to meet changing con- Nestlé SA has elevated a new health-care firms in an effort to depression, the health-science
sumer tastes. chief executive—plucked profit from the intersection of unit has no blockbuster prod-
In particular, Hyundai and straight from the health-care food and pharmaceuticals. ucts. Its biggest revenue gen-
Kia are trying to expand their industry—to kick its effort Nestlé, which declined to erator is Boost, a flavored pro-
lineup of SUVs and accelerate into higher gear. comment for this article, also tein drink, rather than any of
the launches of environmen- Ulf Mark Schneider, 51 years declined to make Mr. Schnei- its disease-focused products,
tally friendly cars, he said. old, took the reins at Nestlé on der available to comment. according to a person familiar
Hyundai grew quickly after Jan. 1. He spent the past 13 In September, Nestlé agreed with the matter.
the 2008 global financial cri- years heading German health- to buy a British maker of a de- Critics have said Nestlé
sis. But it has struggled to care giant Fresenius SE, which vice to treat dysphagia, a doesn’t disclose enough about
maintain that momentum as runs hospitals, makes medical swallowing disorder. Earlier in the business and its trajectory.
rivals’ sales of SUVs have equipment and supplies drugs the year, it teamed up with a “This is something of a black
boomed and emerging-market and nutritional products. U.S. biotech to develop prod- box to us,” said RBC Capital
economies have weakened. Nestlé, the world’s largest ucts aimed at restoring bacte- Markets analyst James Ed-
The Korean sister companies, packaged-food company by rev- rial balance in the digestive wardes Jones. Shares of Nestlé
which rarely had missed their enue, is tapping that experience system. It also is expanding declined 1.7% last year.
annual targets, sold about 7.88 as it works to reinvigorate its aggressively into so-called Nestlé’s elevation of a
million cars globally in 2016, drive to diversify away from medical foods, intended to health-care veteran, in Mr.
compared with 8 million units the slower-growing food and help prevent, treat or manage Schneider, could help. He will
in the prior year. The result beverage products—such as conditions like metabolism is- take direct control of Nestlé’s
marks the duo’s first volume Stouffer’s frozen TV dinners, sues, cancer and obesity. health-sciences and skin-
decline in nearly two decades. KitKat chocolate bars and Nes- The effort has stretched health units. His financial re-
DENIS BALIBOUSE/REUTERS
The Korean auto group has café instant coffee—that have back decades—Nestlé made its cord at Fresenius—before be-
reported sluggish sales in long been its mainstay. first health-care-nutrition incoming CEO, he was chief
China as local manufacturers, PepsiCo Inc., General Mills vestment in 1986—but it has financial officer of its medical-
armed with cheaper but im- Inc., Kraft Heinz Co. and oth- gained more prominence in re- care business—also could help
proved models, rapidly gained ers have pumped money into cent years. Nestlé win over investors long
ground against foreign brands. creating healthier products, or In 2010, Nestlé promised to accustomed to poor communi-
In the U.S., Hyundai’s sec- reformulating existing ones to “be a pioneer in the new in- cation by management and
ond-largest market, top execu- Ulf Mark Schneider, who previously headed German health-care make them less bad for you, dustry that we are helping to thin margins.
tive Dave Zuchowski resigned giant Fresenius, will be overseeing Nestlé’s health-science push. with mixed results. So has shape in the space between a Nestlé recently warned it
in December after the com- fast-moving consumer-goods would miss its own sales-
pany’s sales underperformed company and a pharma com- growth target for the fourth
industry growth there. What’s in the Mix pany.” It created a separate straight year.
At home, Hyundai’s sales Nestlé is making a big push in health science, where pharmaceuticals and foods meet, but it is a relatively health-science division the fol- The company’s earnings-be-
were hurt by a workers’ strike small part of its overall revenue so far. lowing year and since has fore-interest-and-tax margin is
from July to September that made a series of acquisitions forecast to rise by just 0.57
led to billions of dollars in lost 2015 revenue: 88.79 billion Swiss francs aimed at beefing it up. But so percentage point between fis-
production. For 2017, Hyundai far, these haven’t delivered cal 2016 and 2018, compared
aims to sell 5.08 million vehi- Powdered and Nutrition and Milk products Prepared Pet care Confec- Water significant sales increases. with estimates of 4.58% for
cles world-wide, while Kia liquid beverages health and ice cream dishes and tionery In 2015, Nestlé health-science Kraft Heinz, 2.43% for Monde-
plans to sell 3.17 million cars. science cooking aids revenue was about two billion lez International Inc. and
But analysts said the goals will 21.7% 16.7% 16.5% 14.2% 12.9% 10% 8% Swiss francs ($1.96 billion), or 1.56% for Kellogg Co., accord-
be tough to achieve. “There’s just 2.25% of overall revenue. ing to Jefferies LLC. Investors
hardly any easy market for Health science estimate 2.3%* The unit absorbed Nestlé’s prior hope this will change under
them this year…Hyundai aims health-care-nutrition business, Mr. Schneider, who at Frese-
too high,” said Nomura analyst *Nestlé doesn't officially break out health-science revenue but provided an estimate. 100 Swiss francs = $97.25 which had sales of 1.6 billion nius was known for his deal
Angela Hong. Source: the company THE WALL STREET JOURNAL. francs in 2009, but is distinct making and cost-cutting.
BUSINESS WATCH
CHINA LNG GROUP ergy company said. in late 2015 because of a con-
The company said final terms tract dispute.
Venture Is Expected and conditions haven’t yet been The current Fox News deal
With Logistics Firm concluded with Chu Kong Ship- was set to expire at midnight
ping related to the LNG busi- Dec. 31.
China LNG Group Ltd. said nesses. 21st Century Fox and Wall
Friday it planned to cooperate —Chester Yung Street Journal parent News Corp
with logistics company Chu Kong share common ownership.
Shipping Enterprises (Group) Co. COMCAST Terms of the roughly four-
on businesses related to liquefied year pact weren’t disclosed, but
natural gas. Cable Giant Reaches people familiar with the matter
Hong Kong-listed China LNG Pact With Fox News said Comcast’s monthly carriage
plans to build liquefied-natural- fee for Fox News will exceed
gas refueling docks and stations, Cable giant Comcast Corp. has $1.50 per-subscriber initially,
as well as LNG storage facilities, reached an agreement to continue with annual increases. According
in passenger and cargo terminals carriage of Fox News Channel, the to consulting firm SNL Kagan,
JESSE D. GARRABRANT/NBAE/GETTY IMAGES
of Chu Kong Shipping at the two companies said, averting a Fox News trails only ESPN, TNT
Pearl River Delta, the company blackout that would have left mil- and Disney Channel in subscrip-
said in a written statement. lions of viewers without access to tion fees.
China LNG also intends to the network. Fox Business Network, a sis-
provide financing services to As part of the deal, Comcast ter channel of Fox News, isn’t
Chu Kong Shipping for purchas- and Fox News parent 21st Cen- part of this agreement as its
ing LNG vessels and vehicles, tury Fox have also come to contract with Comcast hasn’t ex-
the company said. Also, the fi- terms on a new distribution pired yet.
nancing services will be used agreement for Fox’s YES re- Besides Fox News and YES,
for transforming its existing oil- gional sports network, which is the deal covers 12 other Fox-
using vessels and vehicles so home to the New York Yankees. owned regional sports channels.
they use LNG instead, the en- Comcast stopped carrying YES —Joe Flint Comcast stopped carrying the YES sports network in late 2015 because of a contract dispute.
B4 | Tuesday, January 3, 2017 THE WALL STREET JOURNAL.
TECHNOLOGY WSJ.com/Tech
Wiring Streets for Driverless Cars Twitter

China Boss
Transit planners say
‘smart roads’ will help
curb accidents, but
Departs
BY EVA DOU
the costs are high
BEIJING—Twitter Inc.’s
BY PAUL PAGE China chief has departed after
only eight months, the latest
FAIRFAX, Va.—On a executive to leave amid a
crowded interstate outside global reorganization.
Washington, D.C., large digital A stream of executives has
signs over four westbound left the company since it an-
lanes flashed messages lower- nounced layoffs in October
ing the speed limit by 10, then amid continued losses. Profit-
20 miles an hour. ability has long been a chal-
Drivers slowed just as a lenge for the social network and
fast-moving thunderstorm units revenue growth has slowed.
leashed sheets of rain that In a series of tweets on Sat-
drenched the road and re- urday, Twitter’s managing di-
duced visibility to a few dozen rector for China, Kathy Chen,
yards. There was no abrupt announced her departure but
braking, no swerving and none said Twitter would keep its
VDOT
of the fender-benders that can Hong Kong office open.

tie up traffic for miles. It is only a matter of time until self-driving cars travel on roads that communicate directly with vehicles, transit planners say. “Now that Twitter’s APAC
The signs, installed last [Asia Pacific] team is working
year, are a first step toward anticipated,” says Ronique “All this new technology is without stops and starts, and installations [on roads] are for directly with Chinese advertis-
what highway planners say is Day, a government transpor- going to come at a cost,” said increase road capacity by en- research purposes.” ers, this is the right time for
a future in which self-driving tation analyst in Virginia, Myra Blanco, director of the abling vehicles to travel closer Utah is undertaking a test me to leave the company,” she
cars will travel on technology- one of several states study- Virginia Tech Transportation together without risking traffic of the technology on a stretch wrote.
aided roads lined with fiber ing ways for roads and cars Institute’s Center for Policy snarls or accidents. of Salt Lake City’s Redwood Twitter has been blocked in
optics, cameras and connected to communicate. and Outreach, which is re- The first step for the Road, a major north-south China since 2009, but Ms.
signaling devices that will help searching how the next gener- states, which oversee the commuter route. Sensors on Chen was hired to help it cul-
vehicles move as quickly as ation of roads and cars inter- vast majority of big roads, traffic lights connect to public tivate more Chinese advertis-
35K
possible—and more safely. act on a test road in Virginia. will be deciding how to com- buses and can adjust red and ing clients.
Transit planners say these Ohio last month said it municate with cars as an ar- green signals to help buses Her appointment sparked
so-called smart roads will un- would spend $15 million to in- ray of auto makers and tech stay on schedule. controversy because of her
lock bigger benefits from self- stall smart-road technology companies independently de- Highway researchers say previous employment links to
driving cars, including fewer Number of traffic fatalities in the along 35 miles of Route 33, a velop autonomous-driving their biggest hurdle is ensur- China’s military. Critics on so-
accidents, faster trips and fuel U.S. each year. state road from outside Co- technology. No common stan- ing they have technology that cial media said her tweets ap-
savings. lumbus to the state’s Trans- dard has been established for can work. peared to reflect lack of famil-
So far, the technology is be- portation Research Center in how a new generation of Road connections to cars iarity with Twitter and a
ing built into just a few miles East Liberty. smartcars will receive infor- have mostly used dedicated willingness to cooperate with
of highway in a handful of State transit authorities “The innovators will be the mation from smart roads—or short-range communications, China’s state-controlled media.
states, even as smartcars hit say they may make up some ones that work this out,” says how they will handle alerts or DSRC, a wireless link com- There weren’t signs of a
the roads. Uber Technologies ground if the incoming ad- Bryan Thomas, a spokesman once they get them. monly used in transportation broader shift in Twitter’s
Inc. is testing a small fleet in ministration of Donald Trump for the National Highway Traf- “What we have is a chicken- systems to manage stoplights China strategy or renewed ef-
Pittsburgh and the company’s fulfills promises to increase fic Safety Administration. and-egg problem,” says Utah and tolling. But researchers forts to bring its social net-
Otto business in October deliv- infrastructure spending. With Car companies say their transportation systems pro- say the industry may settle on work back to the country. Ms.
ered a load of Budweiser beer many states struggling to self-driving vehicles will be gram director Blaine Leonard, cellular-data systems used for Chen wrote that Twitter re-
with a self-driving truck. Sili- cover basic highway mainte- safer than automobiles driven who is chairman of a national smartphones or Wi-Fi if the mains committed to the China
con Valley trucking-software nance, planners say billions by people and help reduce the committee on connected cars technology can handle infor- market.
maker Peloton Technology of federal dollars likely would nation’s roughly 35,000 annual and roads run under the Amer- mation reliably and rapidly. A spokeswoman for the San
Inc. wants to deploy autono- be needed to wire the na- traffic fatalities. ican Association of State High- “Today’s biggest expense is Francisco-based company con-
mous truck convoys this year. tion’s more than 4 million Planners say smart roads can way and Transportation. “Cars not hardware but software,” firmed Ms. Chen’s departure.
“This transition is hap- miles of paved roads and generate fuel savings by having right now don’t have anything says Mr. Leonard. “There’s no —Newley Purnell
pening a lot quicker than we 250,000 intersections. cars drive at steady speeds, on them to talk to. Most of the Apple Store for this technology.” contributed to this article.
ADVERTISEMENT
Legal Notices
Foxconn Plans to Build China Flat-Panel Factory
BY EVA DOU Mr. Gou made a pointed
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Foxconn Technology Group has hopes to become a center
CLASS ACTIONS founder Terry Gou unveiled for iPhone production, saying
plans to build an $8.8 billion it isn’t a “manufacturing
television flat-panel factory in power country” like China.
Guangzhou, China, depicting Foxconn’s founder has in

the region as an “investment the past played governments
treasure land” amid calls to off each other as he sought

move tech manufacturing to better investment terms, hold-
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advanced liquid-crystal dis- investing in the end in one.

plays with technology from The $8.8 billion (61 billion

Sharp Corp., the Japanese yuan) investment to build the

electronics brand acquired this factory will be made by Sakai

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BUSINESS NEWS
U.S. Gears Up to Restrict

Chinese in Chip Industry
BY IAN TALLEY The Obama administration’s subsidiary—to Grand Chip In-
dialing up of its scrutiny of Chi- vestment GmbH, the German
WASHINGTON—The Obama nese investment in the U.S. is a unit of China’s Fujian Grand
administration is finalizing a rare alignment of policy with Chip Investment Fund.
study that could lead to restric- the incoming Trump team. The U.S. government views
tions on Chinese investment in “A loss of leadership in semi- the semiconductor sector as
WALT DISNEY CO./LUCASFILM LTD./EVERETT COLLECTION

the U.S. semiconductor sector. conductor innovation and man- one of the nation’s most critical
The report, being prepared ufacturing could have signifi- industries, given that it makes
by President Barack Obama’s cant adverse impacts on the computer chips for everything
chief science adviser and due to U.S. economy and even on na- from smartphones to missiles,
be published before he leaves tional security,” John Holdren, satellites to energy grids. U.S.
office this month, will include the president’s chief science ad- officials are concerned the Chi-
recommendations aimed at bol- viser, said in October. nese could gain backdoor entry
stering protection of an indus- CFIUS, established in 1975 to into just about anything related
try deemed critical to national protect national interests from to national security, including
security, according to people fa- foreign investment, has the communications and military
miliar with the study. power to unilaterally block weapon systems.
Among its recommendations mergers and acquisitions of U.S. Commerce Secretary Penny
could be a tougher stance by assets by foreign investors, and Pritzker has cited Beijing’s $160
the Committee on Foreign In- can require terms preventing billion plan to establish itself as
vestment in the U.S., or CFIUS, the transfer of sensitive infor- a global leader in the semicon- ‘Rogue One’ helped cement a record year for Disney, which ran up $2.7 billion in U.S. sales in 2016.
a secretive multiagency panel mation and technology. ductor industry as a threat to
‘Rogue One’ Leads Again

that reviews foreign acquisi- The CFIUS panel has ap- the U.S. and reason for the
tions of U.S. assets for national proved some Chinese deals in working group’s review.
security threats. recent years, including a bid for “We are seeing new at-
The report will give guid- the Chicago stock exchange. tempts by China to acquire
ance to CFIUS on China’s stra- However it has already ratch- companies and technology Associated Press
tegic efforts to dominate the eted up its oversight of pro- based on their government’s in-
semiconductor market and posed semiconductor acquisi- terests—not commercial objec- NEW YORK—The new year
Estimated Box-Office Figures, Through Monday
SALES, IN MILLIONS
could lead to new export con- tions. tives,” Ms. Pritzker said. at the box office is starting
trols and restrictions on joint Last month it rejected the Officials at China’s Ministry where 2016 left off: with Dis- FILM DISTRIBUTOR WEEKEND* CUMULATIVE
ventures with Chinese firms, proposed sale of Aixtron SE of of Commerce and Ministry of ney on top.
1. Rogue One: Disney $64.3 $439.7
according to industry officials. Germany—which has a U.S. Industry and Information Tech- The “Star Wars” spinoff
A Star Wars Story
nology didn’t respond to re- “Rogue One” led the box office
quests for comment. for the third straight week, 2. Sing Universal $56.4 $180.0
Fear of Trade War trade stance, many lawmakers, A bipartisan collection of taking in an estimated $64.3 3. Passengers Sony $20.7 $66.0
economists and business offi- U.S. lawmakers is gearing up to million during the New Year’s
After a Clampdown cials worry the next president expand CFIUS’s legal mandate, weekend, according to studio
4. Moana Disney $14.3 $213.3
could spark a trade war with in part to demand greater ac- estimates on Monday. 5. Why Him? Fox $13.0 $37.5
If U.S. deals get more scrutiny, China that could do more harm cess by U.S. investors into The success of Gareth Ed- *Friday, Saturday, Sunday and Monday Source: comScore
some worry American access for the U.S. economy than China. Charles Schumer of New wards’s “Rogue One” has only
to Chinese market will narrow good. At the same time, CFIUS York, a top Senate Democrat, further cemented a record
officials have also worried has urged the administration to year for Walt Disney Co., third with $20.7 million during claimed August Wilson adap-
about suppressing investment boost scrutiny of Chinese in- which ran up $2.7 billion in the weekend. Another Disney tation, “Fences,” also took in
Some lawmakers fear that and closing markets. vestment deals, citing the fail- domestic ticket sales in 2016 title, “Moana,” came in fourth $12.7 million over the week-
tougher reviews by the Com- “It is in the national interest ure of the Chinese government and accounted for more than with $14.3 million in its sixth end.
mittee on Foreign Investment of the U.S. to maintain an open to grant U.S. investors access in 25% of the market. weekend. Since opening wide on
in the U.S., or CFIUS, could give investment policy,” said Aimen China. The weekend pushed the in- Fox’s “Why Him,” brought Christmas, the Paramount re-
China reason to block even Mir, the Treasury’s deputy as- The Government Account- dustry to $11.4 billion in ticket in $13 million during the four- lease has made $32.4 million,
more U.S. investment into sistant secretary for invest- ability Office criticized the De- sales in 2016, topping the $11.1 day weekend. making it one of the more lu-
China. ment security. fense Department this year for billion record set in 2015. A pair of Oscar contenders crative stage-to-screen adapta-
That is anathema to many Chinese officials, for their not adequately addressing the In its second week of re- also is packing theaters. tions in recent years.
U.S. firms that want to capital- part, launched a coordinated risk of foreign investment in lease, the animated “Sing,” Despite playing in more lim- Debuting in a handful of
ize on the world’s most popu- state strategy to boost its real estate and other sectors from Universal Pictures and Il- ited release, Damien Chazelle’s theaters was Mike Mills’ fam-
lous market where a burgeon- share of domestically made near military training and test- lumination Entertainment, Los Angeles musical “La La ily drama “20th Century
ing middle class is reshaping chips in its market from around ing ranges. again came in second with Land” grossed $12.3 million Women,” starring Annette Be-
global demand for goods. 10% to 70% in the next 10 In January, the GAO will ex- $56.4 million. during the weekend. The lead ning, and Jim Jarmusch’s po-
Along with President-elect years, using a $160 billion state plore whether the CFIUS law The poorly reviewed sci- Golden Globe nominee has etic “Paterson,” with Adam
Donald Trump’s other state- fund as its war chest. and administration reviews are ence-fiction romance “Passen- grossed $37 million and yet is Driver. Each drew strong per-
ments promising an aggressive —Ian Talley strong enough to protect U.S. gers,” starring Jennifer Law- playing in only 750 theaters. theater averages playing on
national security. rence and Chris Pratt, came in Denzel Washington’s ac- four screens.
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expired, but Lipper data not yet adjusted. l-NAV as of
Templeton Emerging EMF NA 12.09 NA 23.2 Invesco Senior Income Tr VVR 4.88 4.64 -4.9 6.6 Wstrn Asset High Inco II HIX 7.59 7.08 -6.7 11.1
previous day. o-Tender offer in process. v-NAV is C&S MLP Incm & Engy Opp MIE 12.49 10.89 -12.8 14.4 John Hancock Pfd II HPF 20.69 20.25 -2.1 11.7 Voya Infr Indls & Matls IDE 14.72 12.98 -11.8 18.1 Nuveen Credit Strt Inc Fd JQC NA 8.85 NA 7.1 Wstrn Asset Opp Fd HIO 5.55 4.99 -10.1 8.6
converted at the commercial Rand rate. w-Convertible Cohen & Steers Qual Inc RQI 13.42 12.21 -9.0 7.9 John Hancock Pfd Inc III HPS 18.40 17.74 -3.6 7.4 Wells Fargo Gl Div Opp EOD NA 5.45 NA 1.1 NuvFloatRteInco Fd JFR NA 11.67 NA 6.4 West Asst HY Def Opp Fd HYI 16.60 15.04 -9.4 8.8
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market price are in Canadian dollars. NA signifies that
CohnStrsPfdInco RNP 21.75 19.12 -12.1 11.9 Prem12 Mo Nuv Float Rte Opp Fd JRO NA 12.19 NA 6.5 Other Domestic Taxable Bond Funds
the information is not available or not applicable. NS Cohen & Steers TR RFI 13.35 12.10 -9.4 3.4 LMP Cap & Inco Fd SCD NA 13.29 NA 18.2 Fund (SYM) NAV Close /Disc Yld Nuveen Senior Income Fund NSL NA 6.79 NA 6.5 Ares Dynamic Credit Alloc ARDC NA 15.08 NA 8.8
signifies fund not in existence of entire period. CLSeligmn Prem Tech Gr Fd STK 17.78 18.74 +5.4 17.2 Nuveen Preferred & Incm JPI NA 22.93 NA 9.3 Pioneer Floating Rate Tr PHD NA 11.87 NA 6.1
12 month yield is computed by dividing income U.S. Mortgage Bond Funds Barings Corp Investors MCI NA 15.48 NA 7.4
Divers Real Asset Incm Fd DRA NA 15.59 NA 9.7 Nuveen Preferred Inc Opp JPC NA 9.84 NA 16.7 Voya Prime Rate Trust PPR NA 5.54 NA 5.8
dividends paid (during the previous twelve months for BlackRock Income Trust BKT 6.72 6.33 -5.8 5.3 BlackRock Multi-Sector IT BIT 18.29 16.48 -9.9 10.1
periods ending at month-end or during the previous Duff & Phelps DNP 9.48 10.23 +8.0 24.1 Nuveen Preferred Incm Fd JPS NA 9.31 NA 10.5 High Yield Bond Funds
Nuveen Mtg Oppy Term Fd JLS NA 24.07 NA 5.9 BlackRock Taxable Mun Bd BBN 22.53 21.60 -4.1 7.2
fifty-two weeks for periods ending at any time other Duff&PhelpsGblUtilIncFd DPG 18.25 15.48 -15.2 14.8 TCW Strategic Income Fund TSI NA 5.33 NA 4.0 AllianceBernstein Glbl AWF 13.47 12.57 -6.7 9.1
than month-end) by the latest month-end market price Investment Grade Bond Funds Doubleline Oppor Credit DBL NA 23.10 NA 10.9
adjusted for capital gains distributions. Eaton Vance Eqty Inco Fd EOI NA 12.40 NA 0.3 Virtus Global Dividend ZTR NA 12.04 NA 8.9 Barings Glbl Short Dur HY BGH 20.87 19.23 -7.9 10.0
Blackrock Core Bond Tr BHK 14.11 13.01 -7.8 6.4 Duff & Phelps Utl & Cp Bd DUC 9.98 9.44 -5.4 6.5
Source: Lipper Eaton Vance Eqty Inco II EOS 13.66 12.80 -6.3 1.7 Convertible Sec's. Funds BlackRock Corp Hi Yd Fd HYT 11.82 10.83 -8.4 9.4
NA 14.68 NA 17.9 BlkRk Credit Alloc Incm BTZ 14.22 12.97 -8.8 7.3 EtnVncLtdFd EVV 15.09 13.72 -9.1 8.8
Friday, December 30, 2016 EtnVncRskMngd ETJ 9.98 8.96 -10.2 -0.7 AdvntClymrFd AVK BlkRk Debt Strat Fd DSU 12.43 11.34 -8.8 6.6
AllianzGI Conv & Incm NCV 6.75 6.38 -5.5 31.4 John Hancock Income Secs JHS 14.99 14.02 -6.5 6.1 Franklin Ltd Duration IT FTF NA 12.04 NA 6.3
52 wk Etn Vnc Tax Mgd Buy-Write ETB 15.50 16.52 +6.6 7.8 BlackRockDurInco Tr BLW 16.59 15.17 -8.6 8.4
AllianzGI Conv & Incm II NCZ 6.03 5.71 -5.3 29.1 MFS Inc Tr MIN 4.67 4.44 -4.9 9.4 Credit Suisse High Yld DHY 2.68 2.67 -0.4 11.4 GuggenheimTaxableMuni GBAB 22.90 21.44 -6.4 7.6
Prem Ttl Eaton Vance BuyWrite Opp ETV 14.05 14.84 +5.6 6.7
Fund (SYM) NAV Close /Disc Ret AllianzGI Equity & Conv NIE 21.22 18.42 -13.2 11.3 WstAstClymr InfLnkd Fd WIW 12.36 11.14 -9.9 3.6 DoubleLine Incm Solutions DSL NA 18.99 NA 10.2 John Hancock Investors JHI 17.72 16.60 -6.3 8.2
Eaton Vance Tax-Mng Div ETY 11.40 10.35 -9.2 1.8
EatonVanceTax-MngdOpp ETW 10.71 10.07 -6.0 0.2 Calamos Conv Hi Inco Fd CHY NA 10.55 NA 12.6 WstAssetClymr InflLnk Sec WIA 12.64 11.48 -9.2 3.4 Dreyfus Hi Yld Fd DHF NA 3.36 NA 10.3 KKR Income Opps Fund KIO NA NA NA 9.5
General Equity Funds
EtnVncTxMngGlDvEqInc EXG 8.86 8.02 -9.5 1.6 Calamos CHI NA 10.09 NA 14.4 Loan Participation Funds Fst Tr Hi Inc Lg/Shrt Fd FSD 17.71 16.08 -9.2 6.7 MFS Charter MCR 9.35 8.52 -8.9 8.8
Adams Divers Equity Fd ADX 15.22 12.71 -16.5 7.0
Fiduciary/Clymr Opp Fd FMO 15.40 14.89 -3.3 32.1 World Equity Funds Apollo Sr Fltg Rate Fd AFT 18.06 17.40 -3.7 6.4 Guggenheim Strat Opps Fd GOF 18.97 19.64 +3.5 11.3 MFS Multimkt MMT 6.66 6.06 -9.0 8.9
Boulder Growth & Income BIF 11.02 8.94 -18.9 21.4
Central Securities CET 27.12 21.79 -19.7 20.0 FT Energy Inc & Growth Fd FEN 26.23 26.54 +1.2 27.3 Alpine Tot Dyn Div AOD 8.99 7.58 -15.7 8.3 BlackRock FR Incm Strat FRA 14.95 14.41 -3.6 5.3 Ivy High Income Opps Fund IVH 16.05 14.77 -8.0 11.4 Continued on Page B6
CohSteer Opprtnty Fd FOF 13.02 11.70 -10.1 16.7 FstTrEnhEqtIncFd FFA 15.23 13.51 -11.3 10.0 Calamos Glbl Dyn Inc CHW NA 6.97 NA 9.7
Cornerstone Strategic CLM 13.24 15.17 +14.6 21.4 First Tr Engy Infr Fd FIF 20.16 18.05 -10.5 34.0 Cdn Genl Inv CGI 27.97 19.45 -30.5 8.2
EtnVnc TaxAdvDiv EVT 21.75 20.54 -5.6 16.0
Gabelli Dividend & Incm GDV NA 20.04 NA 16.5
First Tr MLP & Engy Incm FEI 15.91 16.14 +1.4 34.8
Gabelli Hlthcr & Well GRX NA 9.44 NA -3.0
China Fund CHN 17.41 15.05 -13.6 0.0
Clough Global Opp Fd GLO 10.76 8.95 -16.8 -3.0 Borrowing Benchmarks | WSJ.com/bonds
Gabelli Equity Trust GAB NA 5.52 NA 15.9 Gabelli Utility Tr GUT NA 6.30 NA 23.4 EtnVncTxAdvGblDiv ETG 15.97 14.07 -11.9 -1.2
EatonVance TxAdv Opport ETO 21.87 20.81 -4.8 7.1
Genl American Investors GAM 37.55 31.18 -17.0 8.0
HnckJohn TxAdv HTD 24.63 23.08 -6.3 20.6
GAMCOGlblGoldNatRscs&Inc GGN NA 5.30 NA 29.4
GoldmanSachsMLPIncOpp GMZ NA 9.72 NA 30.2 First Trust Dynamic Eur FDEU 17.96 15.52 -13.6 -0.9
Money Rates January 2, 2017
Liberty All-Star Equity USA 6.13 5.16 -15.8 6.2 Goldman Sachs MLPEnergy GER NA 7.19 NA 45.3 Gabelli Glbl Multimedia GGT NA 7.24 NA 8.0
Royce Micro-Cap RMT 9.63 8.16 -15.3 22.3 GDL Fund GDL NA 9.84 NA 4.8 Key annual interest rates paid to borrow or lend money in U.S. and international markets. Rates below are a
John Hancock Finl Opps Fd BTO 34.98 36.27 +3.7 36.5
Royce Value Trust RVT 15.84 13.39 -15.5 23.4 KayneAndersonEngyTRFd KYE 13.44 11.81 -12.1 53.8 India Fund IFN 24.24 21.39 -11.8 1.6 guide to general levels but don’t always represent actual transactions.
Source Capital SOR 41.12 35.95 -12.6 9.5 Kayne Anderson MLP Invt KYN 20.06 19.58 -2.4 28.8
Tri-Continental TY 25.91 22.05 -14.9 15.0 Week —52-WEEK— Week —52-WEEK—
Kayne Andrsn Midstr Engy KMF 17.95 15.88 -11.5 41.7 International rates Latest ago High Low Latest ago High Low
Zweig Fund ZF
Specialized Equity Funds
NA 12.09 NA 0.3 Macquarie Glbl Infrstrctr MGU 23.48 19.73 -16.0 11.2
NeubergerBermanMLPIncm NML 10.70 9.39 -12.2 28.9
Cash Prices Week 52-Week Japan 1.475 1.475 1.475 1.475 Three month n.q. n.q. n.q. n.q.
Adams Natural Rscs Fd PEO 24.02 20.17 -16.0 20.5 Neubrgr Brm Rl Est Sec Fd NRO 5.84 5.37 -8.0 15.9 Friday, December 30, 2016 Latest ago High Low Four month n.q. n.q. n.q. n.q.
AllnzGI NFJ Div Interest NFJ 14.59 12.61 -13.6 11.9 Nuveen Dow 30 Dynamic DIAX NA 15.00 NA 12.3 Policy Rates Five month n.q. n.q. n.q. n.q.
AlpnGlblPrProp AWP 6.25 5.13 -17.9 -0.5 These prices reflect buying and selling of a Prime rates 0.00 0.00 0.05 0.00
NuvCorEqAlpha JCE NA 13.08 NA -0.3 Euro zone Six month n.q. n.q. n.q. n.q.
ASA Gold & Prec Metals ASA 12.73 11.04 -13.3 54.5 variety of actual or “physical” commodities in
NuvDivInco JDD NA 11.17 NA 13.6 U.S. 3.75 3.75 3.75 3.50 Switzerland 0.50 0.50 0.50 0.50
BlkRk Enh Cap Inco CII 15.08 13.71 -9.1 5.7 the marketplace—separate from the futures Libor
Nuveen Engy MLP Fd JMF NA 13.54 NA 38.2 price on an exchange, which reflects what Canada 2.70 2.70 2.70 2.70 Britain 0.25 0.25 0.50 0.25
BlkRk Engy Res Tr BGR 16.33 14.44 -11.6 24.2 NuvNASDAQ100DynOver QQQX NA 18.56 NA 3.4 Japan 1.475 1.475 1.475 1.475 Australia 1.50 1.50 2.00 1.50 One month 0.77167 0.75611 0.77167 0.42200
BlackRock Enh Eq Div Tr BDJ 9.22 8.15 -11.6 15.2 the commodity might be worth in future
Nuveen Real Estate Fd JRS NA 10.77 NA 10.8 months. Three month 0.99789 0.99706 0.99817 0.61170
Blackrock Global Trust BOE 13.38 11.57 -13.5 -0.8 NuvS&P500DynOverwrite SPXX NA 14.40 NA 14.8 Policy Rates Overnight repurchase Six month 1.31767 1.31600 1.32267 0.84225
BlkRk Health Sci BME 31.30 31.75 +1.4 -11.5 NuveenS&P500Buy-Write BXMX NA 12.72 NA 1.8 Metals Euro zone 0.00 0.00 0.05 0.00 U.S. 0.56 0.54 1.30 0.15 One year 1.68567 1.68789 1.69956 1.11560
BlkRk Intl Grwth&Inco BGY 6.28 5.51 -12.3 -3.2 Reaves Utility Fund UTG 32.14 30.71 -4.4 32.6 Switzerland 0.50 0.50 0.50 0.50
BlackRck Rscs Comm Str Tr BCX 9.86 8.27 -16.1 25.4 Tekla Hlthcr Investors HQH 22.62 21.13 -6.6 -22.4
Other metals Britain 0.25 0.25 0.50 0.25 U.S. government rates Euro Libor
BlackRock Science & Tech BST 20.10 17.94 -10.7 11.2 Aluminum, LME, $ per metric ton 1713.5
Tekla Healthcare Opps Fd THQ 17.25 15.52 -10.0 -3.0 Australia 1.50 1.50 2.00 1.50 One month -0.378 -0.380 -0.204 -0.386
BlackRock Utility & Infr BUI 19.42 18.41 -5.2 18.7 Tekla Life Sciences HQL 18.11 16.99 -6.2 -19.4 Fibers and Textiles Discount
Other short-term rates Three month -0.336 -0.335 -0.128 -0.337
Tekla World Hlthcr Fd THW 14.31 12.84 -10.3 -10.4 1.25 1.25 1.25 1.00 Six month -0.227 -0.227 -0.039 -0.227
Cotlook 'A' Index-t 79.40
Tortoise Engy Ind Fd NDP 17.08 16.50 -3.4 66.9 Libor -0.086 -0.086 0.059 -0.086
Key Interest Rates Tortoise Energy TYG 30.28 30.69 +1.4 21.2 KEY TO CODES: T=Cotlook Limited; One month 0.77167 0.76111 0.77167 0.42200
Federal funds One year
Tortoise MLP Fund NTG 20.10 19.09 -5.0 21.0 Source: WSJ Market Data Group Effective rate 0.5900 0.6800 0.6900 0.2400 Euro interbank offered rate (Euribor)
Data delayed due to holiday. Three month 0.99789 0.99706 0.99817 0.61170
High 0.8125 0.8125 0.8125 0.5600
Six month 1.31767 1.31656 1.32267 0.84225 One month -0.368 -0.369 -0.205 -0.374
Low 0.4000 0.5000 0.6500 0.0800
One year 1.68567 1.68956 1.69956 1.11560 Three month -0.319 -0.317 -0.131 -0.319
0.4000 0.6600 0.6600 0.0800
Bonds | WSJ.com/bonds Euro Libor
Bid
Offer 0.7500 0.7500 0.7500 0.2500
Six month
One year
-0.221
-0.082
-0.217
-0.082
-0.040
0.060
-0.221
-0.082
One month -0.378 -0.380 -0.208 -0.386 Treasury bill auction
Global Government Bonds: Mapping Yields Three month -0.336 -0.334 -0.129 -0.337
4 weeks 0.485 0.490 0.490 0.160 Latest
Value
Traded
52-Week
High Low
Yields and spreads over or under U.S. Treasurys on benchmark two-year and 10-year government bonds in Six month -0.227 -0.227 -0.039 -0.227
13 weeks 0.555 0.515 0.555 0.215
selected other countries; arrows indicate whether the yield rose(s) or fell (t) in the latest session One year -0.086 -0.086 0.057 -0.086 DTCC GCF Repo Index
26 weeks 0.660 0.645 0.660 0.340
Country/ Yield (%) Spread Under/Over U.S. Treasurys, in basis points Treasury 0.471 91.280 1.266 0.244
Euro interbank offered rate (Euribor) Secondary market MBS 0.584 35.050 1.328 0.257
Coupon (%) Maturity, in years Latest(l) 0 20 40 60 80 100 120 Previous Month ago Year ago Latest Prev Year ago
One month -0.368 -0.369 -0.210 -0.374
1.250 U.S. 2 1.206 l 1.206 1.100 1.060 Fannie Mae Open Implied
Three month -0.318 -0.317 -0.132 -0.319
2.000 10 2.445 l 2.445 2.387 2.269 Six month -0.220 -0.217 -0.041 -0.221 30-year mortgage yields
Settle Change Interest Rate
3.250 Australia 2 1.834 l 1.834 1.816 2.030 62.8 62.8 97.0 One year -0.083 -0.082 0.059 -0.083 30 days 3.680 3.763 3.828 2.806 DTCC GCF Repo Index Futures
4.750 10 2.765 l 2.765 2.869 2.825 32.0 32.0 55.5 60 days 3.713 3.798 3.862 2.832 Treasury Dec 99.566 0.026 5762 0.434
December 30, 2016 99.425 0.045 3782 0.575
1.000 France 2 -0.693 s l -0.704 -0.687 -0.302 -190.0 -191.0 -136.1 Treasury Jan
Other short-term rates Treasury Feb 99.405 0.020 4990 0.595
0.250 10 0.658 t l 0.688 0.716 0.994 -178.8 -175.8 -127.5 Inflation
0.000 Germany 2 -0.791 t l -0.786 -0.729 -0.339 -199.7 -199.2 -139.8 Nov. index Chg From (%) Week 52-Week Notes on data:
level Oct. '16 Nov. '15 Latest ago high low U.S. prime rate is effective December 15, 2016.
0.000 10 0.185 t l 0.207 0.282 0.632 -226.1 -223.8 -163.8 Discount rate is effective December 15, 2016.
0.250 Italy 2 -0.182 s l -0.187 0.059 0.075 -138.8 -139.3 -98.5 U.S. consumer price index Call money U.S. prime rate is the base rate on corporate
2.50 2.50 2.50 2.25 loans posted by at least 70% of the 10 largest
1.250 10 1.731 t l 1.822 1.911 1.596 -71.4 -62.3 -67.3 All items 241.353 –0.16 1.7 U.S. banks; Other prime rates aren’t directly
Core 249.227 0.004 2.1 comparable; lending practices vary widely by
0.100 Japan 2 -0.182 l -0.182 -0.177 -0.011 -138.9 -138.9 -107.0 Commercial paper location; DTCC GCF Repo Index is Depository
0.100 10 0.042 l 0.042 0.040 0.265 -240.3 -240.3 -200.4 International rates 30 to 270 days n.q. ... ... ... Trust & Clearing Corp.'s weighted average for
overnight trades in applicable CUSIPs. Value
0.250 Spain 2 -0.336 t l -0.307 -0.150 0.006 -154.3 -151.3 -105.4 Week 52-Week Commercial paper (AA financial) traded is in billions of U.S. dollars. Futures on the
1.300 10 1.320 t l 1.399 1.555 1.767 -112.6 -104.7 -50.3 Latest ago High Low 90 days 0.87 0.95 1.03 0.45 DTCC GCF Repo Index are traded on NYSE Liffe
US.
1.250 U.K. 2 0.053 l 0.053 0.071 0.639 -115.4 -115.4 -42.1 Sources: Federal Reserve; Bureau of Labor
Prime rates Euro commercial paper
2.000 10 1.096 s l 1.091 1.238 1.958 -134.9 -135.4 -31.2 U.S. 3.75 3.75 3.75 3.50 30 day n.q. n.q. -0.08 -0.14
Statistics; DTCC; SIX Financial Information;
General Electric Capital Corp.; Tullett Prebon
Source: Tullett Prebon Canada 2.70 2.70 2.70 2.70 Two month n.q. n.q. n.q. n.q. Information, Ltd.
MARKETS DIGEST
Dow Jones Industrial Average S&P 500 Index New to the Market
Last Year ago Last Year ago
19762.60 t 171.21, or 0.86% last week Trailing P/E ratio * 21.56 16.52 2238.83 t 24.96, or 1.10% last week Trailing P/E ratio * 24.82 22.95 Public Offerings of Stock
High, low, open and close for each of P/E estimate * 18.59 16.10 High, low, open and close for each of P/E estimate * 18.92 17.44
the past 52 weeks Dividend yield 2.42 2.55 the past 52 weeks Dividend yield 2.07 2.14 IPOs in the U.S. Market
All-time high 19974.62, 12/20/16 All-time high: 2271.72, 12/13/16 None expected this week
Current divisor 0.14602128057775

19900 2300
Lockup Expirations
Below, companies whose officers and other insiders will become eligible to
65-day moving average sell shares in their newly public companies for the first time. Such sales can
19200 2225 move the stock’s price.
Lockup Offer Offer amt Through Lockup
expiration Issue date Issuer Symbol price($) ($ mil.) Friday (%) provision
200-day moving average
18500 2150 Jan. 4 July 8, ’16 Monster Digital MSDI 4.50 9.1 –61.1 180 days
Sources: Dealogic; WSJ Market Data Group
17800 2075
IPO Scorecard
Week's high Performance of IPOs, most-recent listed first
17100 2000 % Chg From % Chg From
DOWN UP 200-day moving average Company SYMBOL Friday3s Offer 1st-day Company SYMBOL Friday3s Offer 1st-day
t
Monday's open Friday's close IPO date/Offer price close ($) price close IPO date/Offer price close ($) price close
16400 1925 trivago 11.75 6.8 –0.8 SenesTech 8.15 1.9 –0.1
Friday's close Monday's open
t
TRVG Dec. 16/$11.00 SNES Dec. 8/$8.00

65-day moving average TiGenix 14.58 –5.9 24.6 Polar Power 8.95 27.9 –0.6
Week's low 15700 1850 TIG Dec. 15/$15.50 POLA Dec. 7/$7.00
Bars measure the point change from Monday's open WildHorse Resource 14.60 –2.7 –3.1 Innovative Industrial Properties 18.19 –9.0 –5.0
WRD Dec. 14/$15.00 IIPR Dec. 1/$20.00
15000 1775
Athene Holding 47.99 20.0 8.9 Motif Bio 6.19 –11.3 10.7
J F M A M J J A S O N D J F M A M J J A S O N D ATH Dec. 9/$40.00 MTFB Nov. 18/$6.98
Primary Ichor Hldgs 10.82 20.2 10.7 Smart Sand 16.55 50.5 50.6
NYSE weekly volume, in billions of shares market Composite ICHR Dec. 9/$9.00 SND Nov. 4/$11.00
t
t
Financial Flashback
30
20 The Wall Street Journal, Jan. 3, 2009 Sources: WSJ Market Data Group; FactSet Research Systems
10 President-elect Barack Obama provided details of his Other Stock Offerings

0 economic-recovery proposals in a weekly radio address, Secondaries and follow-ons expected this week in the U.S. market
J F M A M J J A S O N D promising infrastructure spending and tax breaks. Symbol/
Primary Amount Friday’s
* P/E data based on as-reported earnings from Birinyi Associates Inc. Expected Issuer/Business exchange ($mil.) price ($) Bookrunner(s)
Jan. 2 CollPlant CLGN 27.9 n.a. Ladenburg Thalmann
Major U.S. Stock-Market Indexes Nasdaq Composite Healthcare Nq
Latest Week 52-Week % chg t 79.57, or -1.46%
Dow Jones
High Low Close Net chg % chg Low Close (l) High % chg YTD 3-yr. ann. last week Off the Shelf
None expected this week
Industrial Average 19981.11 19718.67 19762.60 -171.21 -0.86 15660.18 l 19974.62 13.4 13.4 6.2
Transportation Avg 9241.84 9019.41 9043.90 -146.74 -1.60 6625.53 l 9421.08 20.4 20.4 7.2
Utility Average 664.58 653.69 659.61 -1.20 -0.18 577.48 l 723.51 14.2 14.2 10.5
5500 Public and Private Borrowing
Total Stock Market 23641.85 23226.55 23276.73 -254.42 -1.08 18663.11 l 23620.57 10.3 10.3 6.4 Treasurys
Barron's 400 611.90 600.11 601.62 -5.57 -0.92 446.15 l 611.12 16.5 16.5 5.7 5450 Tuesday, January 3
Nasdaq Stock Market Auction of 13-week & 26-week bills;

5400 announced on Dec.29; settles on Jan.5
Nasdaq Composite 5512.37 5371.89 5383.12 -79.57 -1.46 4266.84 l 5487.44 7.5 7.5 9.0
-1.55 l Auction of four-week bills;
Nasdaq 100 4992.08 4853.93 4863.62 -76.40 3947.80 4965.81 5.9 5.9 10.9
announced on Dec.29; settles on Jan.5
5350
Standard & Poor's 23 26 27 28 29 30 Auction of 52-week bills;
500 Index 2273.82 2233.62 2238.83 -24.96 -1.10 1829.08 l 2271.72 9.5 9.5 6.7 December announced on Dec.29; settles on Jan.5
MidCap 400 1683.18 1657.28 1660.58 -12.97 -0.77 1238.82 l 1696.12 18.7 18.7 7.5 DJ US TSM
SmallCap 600 852.07 835.81 837.96 -7.06 -0.84 588.26 l 857.5 24.7 24.7 8.0 Public and Municipal Finance
t 254.42, or -1.08% Deals of $ 150 million or more expected this week
Other Indexes last week Final Total Rating Bookrunner/
-1.05 l Sale maturity Issuer ($mil.) Fitch Moody’s S&P Bond Counsel(s)
Russell 2000 1381.98 1353.92 1357.13 -14.38 953.72 1388.07 19.5 19.5 5.4
NYSE Composite 11688.45 11034.05 11056.90 -71.90 -0.65 9029.88 l 11237.17 9.0 9.0 2.2 Jan. 5 June 29, 2017 Colorado 375.0 N.R. N.R. N.R. Preliminary/
Value Line 514.62 505.10 506.17 -5.14 -1.01 383.82 l 518.98 13.5 13.5 1.3 23600 Kutak Rock
NYSE Arca Biotech 3216.10 3061.15 3075.02 -105.90 -3.33 2642.53 l 3813.96 -19.4 -19.4 9.5
Jan. 6 prelim. District of 311.5 N.R. A2 A Wells Fargo
NYSE Arca Pharma 483.48 477.81 481.54 0.80 0.17 463.78 l 554.66 -11.1 -11.1 1.0 Columbia & Co/—
23450
KBW Bank 93.48 90.85 91.79 -1.34 -1.44 56.51 l 93.38 25.6 25.6 10.0
PHLX§ Gold/Silver 84.15 74.78 78.86 4.63 6.24 38.84 l 112.86 74.1 74.1 -1.4 Jan. 6 prelim. El Paso 171.4 N.R. Aa2 N.R. Piper Jaffray
23300 (Ysleta) ISD
PHLX§ Oil Service 188.85 183.18 183.79 -2.10 -1.13 128.61 l 192.5 16.5 16.5 -13.0
PHLX§ Semiconductor 944.23 904.23 906.47 -21.45 -2.31 559.18 l 939.21 36.6 36.6 19.5 Jan. 6 prelim. El Paso ISD 184.1 AA N.R. N.R. Piper Jaffray
CBOE Volatility 14.68 11.84 14.04 2.60 22.73 11.27 l 28.14 -22.9 -22.9 1.2 23150
23 26 27 28 29 30 Jan. 6 prelim. Texas St Univ 570.8 AA Aa2 N.R. Barclays/—
Philadelphia Stock Exchange Sources: SIX Financial Information; WSJ Market Data Group Sys Bd of
December
Regents
Jan. 6 prelim. Univ of No 165.0 N.R. Aa2 N.R. Barclays/—

Texas Bd of
International Stock Indexes Commodities and Regents
Latest Week 52-Week Range YTD
Currencies Jan. 6 prelim. Univ of No 214.9 N.R. N.R. N.R. J P Morgan
Region/Country Index Close % chg Low Close High % chg Monday YTD
Close Net chg %Chg % chg Texas Bd of Securities
World The Global Dow 2531.51 –0.21 2047.44 • 2570.24 8.4
WSJ Dollar Index 93.26 0.32 0.35 0.35
Regents LLC/—
DJ Global Index 326.05 –0.10 272.15 • 330.27 5.9
Euro, per dollar 0.9545 0.0039 0.41 0.41 Jan. 6 prelim. University of 525.0 N.R. Aa1 N.R. Wells Fargo
DJ Global ex U.S. 213.95 0.99 184.52 • 222.45 1.8
Yen, per dollar 117.61 0.60 0.51 0.51 Pittsburgh & Co/—
Global Dow Euro 2259.94 –1.03 1699.54 • 2307.07 11.6 U.K. pound, in dollars 1.23 -0.007 -0.54 -0.54 Source:Thomson Reuters/Ipreo
DJ TSM Global 3360.43 –0.09 2795.15 • 3402.56 6.1 Last Week YTD
Global ex U.S. 2160.53 1.01 1863.63 • 2245.72 1.8 Close Net chg %Chg % chg
Closed-End Funds | WSJ.com/funds
Developed ex U.S. 2113.79 0.60 1843.94 • 2184.88 0.3 DJ Commodity 567.25 7.12 1.27 25.00
Global Small-Cap 4621.83 0.45 3665.30 • 4655.71 9.7 TR/CC CRB Index 192.51 1.98 1.04 9.21 Continued from Page B5
Fund (SYM)
Prem12 Mo
NAV Close /Disc Yld
Global Large-Cap 3182.26 –0.17 2667.12 • 3225.06 5.6 Crude oil, $ per barrel 53.72 0.70 1.32 45.03 Fund (SYM)
Prem12 Mo
NAV Close /Disc Yld BlRk MuHldg NY Qlty MHN 14.43 13.41 -7.1 5.5
Americas DJ Americas 540.38 –0.89 433.35 • 548.59 10.9 Natural gas, $/MMBtu 3.724 0.062 1.69 59.35 Nuveen Build Am Bd Fd NBB NA 20.63 NA 6.4 BlkRk MuniYld CA Fd MYC 15.18 15.27 +0.6 5.8
1150.00 1.60 8.46
Brazil Sao Paulo Bovespa 60227.29 3.95 37497.48 • 64924.52 38.9 Gold, $ per troy oz. 18.10 PIMCO Corporate & Incm PTY NA 14.31 NA 11.2
PIMCO Corporate & Incm PCN NA 14.78 NA 9.2
BlkRk MuniYld CA Quality MCA 15.35 14.50 -5.5 5.7
BlkRk MuniYld MI Qlty MIY 15.12 13.59 -10.1 5.9
Canada S&P/TSX Comp 15287.59 –0.26 11843.11 • 15422.12 17.5 U.S. Dollar Index 102.21 -0.71 -0.69 3.56
PIMCO HiInco PHK NA 9.17 NA 13.8 BlkRk MuniYld NJ Fd MYJ 15.50 15.32 -1.2 5.8
Mexico IPC All-Share 45642.90 1.04 40265.37 • 48694.90 6.2 WSJ Dollar Index 92.94 -0.36 -0.39 3.07
PIMCO Inco Str Fd PFL NA 10.57 NA 10.5 BlRk Muyld NY Qlty MYN 13.83 12.69 -8.2 5.5
0.9506 -0.0058 -0.61 3.24
Chile Santiago IPSA 3223.17 2.69 2759.77 • 3358.44 9.5 Euro, per dollar
Yen, per dollar 117.00 -0.32 -0.27 -2.74
PIMCO Incm Strategy Fd II PFN NA 9.49 NA 11.2 Eaton Vance CA Mun Bd EVM 12.22 11.38 -6.9 5.9
Invesco CA Value Mun Incm VCV 13.15 12.14 -7.7 6.0
Putnam Mas Inco PIM 4.99 4.61 -7.6 7.0
Europe Stoxx Europe 600 361.42 0.40 303.58 • 365.81 –1.2 U.K. pound, in dollars 1.23 0.006 0.49 -16.23 Putnam Premier Income Tr PPT 5.50 4.97 -9.6 6.4 Invesco PA Value Mun Incm VPV 13.79 12.16 -11.8 6.1
Stoxx Europe 50 3010.55 0.41 2566.26 • 3100.26 –2.9
52-Week Wells Fargo Multi-Sector ERC NA 12.83 NA 8.6 Invesco Inv Grade NY Muni VTN 14.31 13.27 -7.3 6.1
Eurozone Euro Stoxx 350.26 0.21 284.92 • 350.26 1.5 Low Close(l) High % Chg World Income Funds Nuveen CA AMT-Free Qual NKX NA 14.31 NA 6.1
Nuveen CA Muni Value NCA NA 10.43 NA 4.5
Euro Stoxx 50 3290.52 0.51 2680.35 • 3290.52 0.7
DJ Commodity 420.23 l 573.28 25.00
Abeerden Asia-Pacific FAX 5.28 4.63 -12.3 6.2
Etn Vnc Short Dur Fd EVG NA 13.86 NA 7.7 Nuveen CA Quality Muni NAC NA 14.14 NA 6.3
Belgium Bel-20 3606.36 0.18 3130.76 • 3700.30 –2.5
TR/CC CRB Index 155.01 l 195.82 9.21 Legg Mason BW Glbl Incm BWG 13.84 11.83 -14.5 10.8 Nuveen MD Qual Muni NMY NA 12.44 NA 5.4
France CAC 40 4862.31 0.47 3896.71 • 4862.31 4.9
Crude oil, $ per barrel 26.21 l 54.06 45.03
MS EmMktDomDebt EDD 8.13 7.17 -11.8 10.7 Nuveen MI Qual Muni NUM NA 13.34 NA 5.4
Germany DAX 11481.06 0.27 8752.87 • 11481.06 6.9
Natural gas, $/MMBtu 1.64 l 3.93 59.35
PIMCO Dynamic Credit PCI NA 20.22 NA 10.9
PIMCODynamicIncomeFund PDI NA 27.70 NA 14.9
Nuveen NC Qual Muni NNC NA 12.94 NA 4.4
Israel Tel Aviv 1470.78 0.50 1382.34 • 1540.90 –3.8
Gold, $ per troy oz. 1060.30 l 1364.90 8.46 PIMCO Income Opportunity PKO NA 23.16 NA 9.8
Nuveen NJ Qual Muni NXJ NA 13.16 NA 5.8
Nuveen NY AMT-Free NRK NA 12.81 NA 5.4
Italy FTSE MIB 19234.58 –0.57 15104 • 21418 –10.2 PIMCO Strat Income Fund RCS NA 8.79 NA 11.2 Nuveen NY Qual Muni NAN NA 13.42 NA 5.7
Netherlands AEX 483.17 0.06 382.61 • 484.20 9.4 U.S. Dollar Index 92.57 l 103.25 3.56 Templeton Emerging TEI NA 10.91 NA 7.5 Nuveen OH Qual Muni NUO NA 14.53 NA 5.3
Spain IBEX 35 9352.10 –0.17 7645.5 • 9544.2 –2.0 WSJ Dollar Index 84.64 l 93.50 3.05 Templeton Global GIM NA 6.48 NA 4.7
WstAstEmergDebt ESD 17.10 NA NA 8.6
Nuveen PA Qual Muni NQP NA 13.08 NA 5.8
Sweden SX All Share 534.56 –0.02 435.21 • 539.52 5.8 Euro, per dollar 0.87 l 0.96 3.24
Wstrn Asset Gl Def Opp Fd GDO 18.63 17.12 -8.1 8.1
Nuveen VA Qual Muni NPV NA 12.97 NA 5.0
PIMCO California Muni PCQ NA 15.68 NA 6.0
Switzerland Swiss Market 8219.87 –0.16 7496.62 • 8818.09 –6.8 Yen, per dollar 99.88
l
l 121.13 -3.03 National Muni Bond Funds PIMCO California Mun II PCK NA 9.22 NA 6.6
1.49 -16.45
U.K. FTSE 100 7142.83 1.06 5536.97 • 7142.83 14.4 U.K. pound, in dollars 1.21 AllianceBrnstn NtlMun AFB 14.37 13.22 -8.0 5.4
Blackrock Invest BKN 15.22 14.69 -3.5 6.0
52 wk
Asia-Pacific DJ Asia-Pacific TSM 1422.73 0.52 1190.45 • 1498.20 2.4 Real-time U.S. stock BlackRockMun2030Target BTT 22.81 21.83 -4.3 4.4
Prem Ttl
WSJ
Fund (SYM) NAV Close /Disc Ret
Australia S&P/ASX 200 5665.80 0.67 4765.3 • 5699.1 7.0 quotes are available on BlackRock Municipal Trust BFK 14.11 13.84 -1.9 6.4
General Equity Funds
China Shanghai Composite 3103.64 –0.21 2655.66 • 3539.18 –12.3 WSJ.com. Track most- BlackRockMuni BLE 14.80 14.54 -1.8 6.4
BlackRockMuni Tr BYM 14.90 13.89 -6.8 5.9
Specialized Equity Funds
Hong Kong Hang Seng 22000.56 1.97 18319.58 • 24099.70 0.4 .COM active stocks, new BlkRk MuniAssets Fd MUA 13.84 13.47 -2.7 5.3
Corsair Opportunity:A NA NA NA NS
Griffin Inst Access RE:M NA NA NA NS
India S&P BSE Sensex 26626.46 2.25 22951.83 • 29045.28 1.9 highs/lows, mutual BlkRk Munienhanced MEN 11.76 11.27 -4.2 6.3 NexPointRlEstStrat;A NA NA NA NS
Japan Nikkei Stock Avg 19114.37 –1.61 14952.02 • 19494.53 0.4 funds and ETFs. BlkRk MuniHldgs Inv MFL 14.56 14.18 -2.6 6.2 NexPointRlEstStrat;C NA NA NA NS
Singapore Straits Times 2880.76 0.34 2532.70 • 2960.78 –0.1
Plus, get deeper money-flows data and
BlkRk MuniHldgs Qlty II MUE 13.99 13.49 -3.6 6.1
BlkRk MuniHldgs MHD 16.67 16.18 -2.9 6.3
NexPointRlEstStrat;Z NA NA NA NS
26.83 NA NA 5.3
South Korea Kospi 2026.46 –0.46 1835.28 • 2068.72 3.3
email delivery of key stock-market data. BlkRk MuniVest MVF 9.58 9.61 +0.3 6.3
SharesPost 100
Tot Inc+ RE:A 29.02 NA NA 6.0
Taiwan Weighted 9253.50 1.93 7664.01 • 9392.68 11.0 BlkRk MuniVest II MVT 15.08 15.24 +1.1 6.4 Tot Inc+ RE:C 28.45 NA NA 5.2
All are available free at BlkRk MuniYield MYD 14.56 14.14 -2.9 6.4 Tot Inc+ RE:I 29.29 NA NA 6.3
Source: SIX Financial Information;WSJ Market Data Group BlkRk MuniYld Quality MQY 15.47 14.72 -4.8 6.2 Versus Cap MMgr RE Inc:F 27.41 NA NA 6.6
WSJMarkets.com
BlkRk MuniYld Qlty II MQT 13.61 12.81 -5.9 6.0 Versus Cap MMgr RE Inc:I 27.48 NA NA 6.9
BlRkMunyldQltyIII MYI 14.21 13.65 -3.9 6.3 Wildermuth Endwmnt Str 11.74 NA NA 10.6
Consumer Rates and Returns to Investor Benchmark Yields and Rates Deutsche Mun Income Tr KTF 12.57 13.12 +4.4 6.5 Wildermuth Endwmnt S:C 11.66 NA NA NS
Income Preferred Stock Funds
Dreyfus Mun Bd Infr Fd DMB 13.45 12.24 -9.0 6.0
U.S. consumer rates Selected rates Treasury yield curve Forex Race Dreyfus Municipal Income DMF 9.21 8.63 -6.3 6.0 MultiStrat Gro & Inc:A 15.62 NA NA 7.0
Dreyfus Strat Muni Bond DSM 8.23 8.04 -2.3 6.1 MultiStrat Gro & Inc:C 15.38 NA NA 6.2
A consumer rate against its 5-year CDs Yield to maturity of current bills, Yen, euro vs. dollar; dollar vs. MultiStrat Gro & Inc:I 15.78 NA NA 7.8
Dreyfus Strategic Munis LEO 8.45 8.40 -0.6 6.2
benchmark over the past year notes and bonds major U.S. trading partners Eaton Vance Mun Bd Fd EIM 13.46 12.41 -7.8 5.7 MultiStrat Gro & Inc:L 15.46 NA NA 6.4
Bankrate.com avg†: 1.22% Eaton Vance Mun Income EVN 13.02 12.55 -3.6 6.3
Convertible Sec's. Funds
Calmos Dyn Conv and Inc CCD NA 17.53 NA NA
Capital One 360 2.00% 5.00% 18% EV National Municipal Opp EOT 21.69 20.80 -4.1 4.9
World Equity Funds
Five-year CD yields 1.50% Glen Allen, VA 800-289-1992 Invesco Adv Mun Incm II VKI 11.92 11.18 -6.2 6.9 BMO LGM Front ME 8.92 NA NA 9.9
t 4.00 Invesco Mun Incm Opps Tr OIA 7.37 7.17 -2.7 5.4
Salem Five 2.00% 12 Prem12 Mo
Invesco Mun Opportunity VMO 13.31 12.74 -4.3 6.8
1.00 s Fund (SYM) NAV Close /Disc Yld
Salem, MA 888-662-5500 3.00 Yen Euro
s
Invesco Municipal Trust VKQ 13.29 12.26 -7.8 6.5
Federal-funds 6 U.S. Mortgage Bond Funds
Invesco Qlty Mun Inco IQI 13.28 12.40 -6.6 6.1
target rate 0.50 Third Federal Savings and Loan 2.00% Invesco Inv Grade Muni VGM 13.78 12.75 -7.5 6.7 Vertical Capital Income 12.27 NA NA 2.9
Friday 2.00
t
t Cleveland, OH 800-844-7333 0 Loan Participation Funds

Invesco Value Mun Incm Tr IIM 15.78 14.63 -7.3 5.5
504 Fund 9.72 NA NA 3.4
0.00 1.00 MainStay DefinedTerm MMD NA 18.30 NA 6.2
Popular Direct 2.05% –6 FS Global Crdt Opptys D NA NA NA 2.5
s MFS Munl Inco MFM 7.19 6.63 -7.8 5.6
One year ago 6.61 NA NA 5.3
t
New York, NY 800-274-5696 Invesco Sr Loan A

–0.50 0.00 WSJ Dollar index NuveenAMT-FreeMunValue NUW NA 16.26 NA 4.7 Invesco Sr Loan B 6.61 NA NA 5.3
–12 Nuveen AMT-Free Quality NEA NA 13.34 NA 5.7
J F MAM J J A S O N D EverBank 2.10% 1 3 6 1 2 3 5 710 30
Invesco Sr Loan C 6.62 NA NA 4.6
2016 Nuveen AMT-Free Mun NVG NA 14.46 NA 6.0 Invesco Sr Loan IB 6.61 NA NA 5.5
2016 Jacksonville, FL 855-228-6755 month(s) years Nuveen Mun Credit Incm Fd NZF NA 14.14 NA 6.3 Invesco Sr Loan IC 6.61 NA NA 5.4
maturity Nuveen Enhncd Mun Val Fd NEV NA 14.00 NA 6.5 Invesco Sr Loan Y 6.61 NA NA 5.5
Yield/Rate (%) 52-Week Range (%) 3-yr chg Nuveen Intermed Dur Mun NID NA 12.71 NA 5.3
Sources: Ryan ALM; Tullett Prebon; WSJ Market Data Group
Voya Senior Income:A NA NA NA 5.5
Interest rate Last (l)Week ago Low 0 2 4 6 8 High (pct pts)
NuveenMuniIncoOpp Fd NMZ NA 12.81 NA 6.9 Voya Senior Income:B NA NA NA 5.0
Federal-funds rate target 0.50-0.75 0.50-0.75 0.25 l 0.75 0.50 Nuveen Muni Value Fund NUV NA 9.56 NA 4.1 Voya Senior Income:C NA NA NA 5.0
Prime rate* 3.75 3.75 3.50 l 3.75 0.50
Corporate Borrowing Rates and Yields Nuveen Quality Muni NAD NA 13.96 NA 6.3 Voya Senior Income:I NA NA NA 5.8
Voya Senior Income:W NA NA NA 5.7
Nuveen Sel Tax Free NXP NA 13.90 NA 4.0
Libor, 3-month 1.00 1.00 0.61 l 1.00 0.75 Spread +/- Treasurys, Nuveen Sel TF NXQ NA 13.31 NA 4.0 High Yield Bond Funds
Yield (%) in basis pts, 52-wk Range Total Return PionrILSInterval 10.26 NA NA 5.7
Money market, annual yield 0.29 0.26 0.22 l 0.29 -0.14 PIMCO MuniFd PMF NA 14.39 NA 6.8
Bond total return index Last Wk ago Last Low High 52-wk 3-yr WA Middle Mkt Dbt NA NA NA 11.3
Pimco Muni Inc II PML NA 12.22 NA 6.4
Five-year CD, annual yield 1.22 1.19 1.17 l 1.41 -0.14 PIMCO Muni Inc III PMX NA 11.37 NA 6.7 WA Middle Mkt Inc WMF NA NA NA 11.5
10-yr Treasury, Ryan ALM 2.446 2.542 -0.02 3.84 Other Domestic Taxable Bond Funds
30-year mortgage, fixed† 4.21 4.27 3.43 l 4.29 -0.48 Pioneer Mun Hi Inc Adv Tr MAV 11.73 11.81 +0.7 6.9
DJ Corporate 3.143 3.239 5.85 4.35 Capstone Church Capital 11.50 NA NA 1.3
15-year mortgage, fixed† 3.42 3.47 2.70 l 3.50 -0.29 Pioneer Mun Hi Incm Tr MHI 12.59 11.87 -5.7 6.6
GL Beyond Income 4.38 NA NA NE
Aggregate, Barclays Capital 2.610 2.710 43 43 70 2.83 3.00 Putnam Tr PMM 7.66 7.07 -7.7 6.0 Palmer Square Opp Income 18.40 NA NA 6.5
Jumbo mortgages, $424,100-plus† 4.63 4.69 4.02 l 4.88 -0.15 PutnamMuniOpportunities PMO 12.78 11.95 -6.5 5.9
High Yield 100, Merrill Lynch 5.513 5.530 369 356 741 13.033 3.226 Resource Credit Inc:A NA NA NA 3.3
Five-year adj mortgage (ARM)† 3.81 3.86 2.97 l 4.03 -0.12 Wstrn Asset Mngd Muni MMU 13.66 13.72 +0.4 5.8 Resource Credit Inc:C NA NA NA 2.9
Fixed-Rate MBS, Barclays 2.850 3.000 15 10 31 1.86 3.08 WesternAssetMunTrFund MTT 21.46 21.59 +0.6 4.7
New-car loan, 48-month 3.00 3.02 2.87 l 3.38 0.02 Resource Credit Inc:D NA NA NA 3.1
Muni Master, Merrill 2.307 2.353 10 -9 10 -0.153 3.533 Single State Muni Bond Resource Credit Inc:I NA NA NA 3.3
HELOC, $30,000 4.60 4.69 4.29 l 5.01 -0.62
EMBI Global, J.P. Morgan 6.056 6.116 365 348 538 10.193 5.603 BlackRock CA Municipal Tr BFZ 15.00 14.49 -3.4 5.8 Resource Credit Inc:T NA NA NA 2.9
Bankrate.com rates based on survey of over 4,800 online banks. *Base rate posted by 70% of the nation's largest BlkRk MuniHldgs CA Qlty MUC 15.22 14.08 -7.5 5.6 Resource Credit Inc:U NA NA NA 3.3
banks.† Excludes closing costs.
Sources: SIX Financial Information; WSJ Market Data Group; Bankrate.com Sources: J.P. Morgan; Ryan ALM; S&P Dow Jones Indices; Barclays Capital; Merrill Lynch Blkrck MunHl NJ Qlty MUJ 15.13 13.91 -8.1 6.0 Resource Credit Inc:W NA NA NA 3.1
BANKING & FINANCE
Swiss Frankly Love Their Cash Keeping

Financial
Citizens buck global “It certainly seems that the coins in circulation per Swiss in-
trend, using bank
notes even for big
Swiss are out of kilter with the
dominant trend around the
world,” said Michael Levi, a
habitant reached $9,214 in 2015,
compared with $4,433 in the
U.S., and $3,571 in the euro area,
Resolutions
purchases like cars
professor of criminology at
Cardiff University in Wales.
At the beginning of 2016,
according to data from the Bank
for International Settlements.
Christian Weiss, who super-
Isn’t Easy
BY JOHN LETZING Switzerland bowed to pressure vises the coin and bank-note BY VERONICA DAGHER
from international anti-money- collection at the Swiss Na-
MICHELE LIMINA/BLOOMBERG NEWSS

ZURICH—Not long ago, Tom laundering organizations and tional Museum, said the Swiss Whether you resolve to
O’Hara walked into a used-car implemented a cap on the favor cash even when traveling save more, spend less or be-
dealership in Ponte Tresa, amount of cash a person can abroad. Still, he said, cash us- come a better investor, you
Switzerland, and forked over use on a single purchase with- age has declined since 1990, will need more than good in-
the equivalent of nearly out raising red flags and requir- when about 90% of the money tentions to keep your financial
$13,000 in cash for a 1999 ing extra paperwork. In Spain, used in Switzerland was in resolutions.
Porsche Boxster. It was just that limit is equivalent to about cash. “In 2015, it was merely Above all, your resolutions
one of three cars that Mr. $2,600 per purchase, above 60%,” he said. need to be specific and realis-
O’Hara, a onetime American which other means such as a The circulation of one of the tic. You should also allow
and current Swiss citizen, paid bank transfer must be used, The Swiss keep more paper money on hand than others. largest-denomination bills in yourself some false starts and
for in cash in 2015. while France limits taxpayers to the world, the 1,000-franc note, seek support from others if
“You could do it by bank an amount in cash equal to that it was too soon after im- Germany, don’t impose limits also makes it a lot easier to you want to be successful.
transfer,” said Mr. O’Hara, a about $1,050 per purchase, ac- plementation to measure the on single cash payments. carry and use significant These are common tips in goal
57-year-old electrical engineer. cording to the European Con- cap’s effectiveness. The task Experts cite a number of amounts of cash in Switzerland. setting, but arriving at specific
“But most people just take the sumer Center Network. force, created by the Group of reasons for the Swiss affection Circulation of the big bill and realistic goals isn’t simple.
cash out and bring it over.” Switzerland opted for a cap Seven nations, sets global anti- for cash. It is a relatively safe has increased recently, accord- To help you set and keep
The Swiss love cash and use of 100,000 Swiss francs, or money-laundering standards. country, making robbery or ing to the Swiss National Bank, your financial resolutions, fi-
it regularly to pay for pur- about $97,700. For cash deals The rule followed debate mugging less likely; it is also a reaching 45.4 billion francs of nancial planners, psycholo-
chases large and small— above 100,000 francs, a Swiss among lawmakers, who predominantly rural place, the notes in October (the most gists and resolution setters
monthly utility bills can be retailer must now confirm cus- weighed what they described where transactions have recent data available), or a 6% themselves share some of
paid in cash at post offices. tomers’ identities and report as Swiss citizens’ inherent right tended to be face to face, and gain compared with the same their best actionable advice
Their affinity shows no sign of suspicious transactions. to use paper money against money may be seen as a tangi- month in the previous year. and tools.
abating and flies in the face of In a report published in De- warnings that resistance to a ble thing to keep on hand. In the U.S., anyone accepting
a global trend toward cashless cember, the Paris-based Finan- restriction might lead to the To that end, the Swiss keep a cash payment over $10,000 Keep It Real
economies and electronic pay- cial Action Task Force said the country being blacklisted by in- far more paper money on hand must file a form with the Inter- People often fail to keep
ments that can better track Swiss limit “seems very high, ternational watchdogs. than citizens of other nations. nal Revenue Service, identify- their resolutions because they
potential fraud. even for Switzerland,” adding Some countries, such as The value of bank notes and ing who made the purchase. are too vague, aggressive or
rigid, says Karol Ward, a psy-
chotherapist in New York who
Trump Taps Regulation Skeptic for Advice

often helps people with finan-
cial issues such as overspend-
ing. For example, if you re-
solve to save $50,000 toward
BY DAVE MICHAELS ernment’s hand in markets. That retirement this year but don’t
AND ANDREW ACKERMAN has made him a natural ally of spell out how you are going to
Republican lawmakers, who do so, you will likely fail.
WASHINGTON—Paul Atkins chafe at what they view as un- To succeed, first identify
is Wall Street’s regulation whis- necessary red tape imposed on the reason you are making the
perer. capital markets. resolution and write that
The man tapped by Presi- Mr. Atkins has donated at down, Ms. Ward says. Reasons
dent-elect Donald Trump to least $140,000 to GOP candi- could include the desire to
oversee his early financial-de- dates and causes since 2000, create a secure financial fu-
regulation strategy has spent according to the Center for Re- ture for yourself or provide
the past seven years counseling sponsive Politics. He has for your family.
clients how to influence regula- served as an informal adviser Next, use open-ended ques-
tors—sometimes charging to conservative lawmakers tions to help clarify your reso-
$1,200 an hour for the advice, such as Texas Rep. Jeb Hensar- lution. For example, what
according to people familiar ling, chairman of the House Fi- needs to happen for you to
with the matter. nancial Services Committee, save more? Do you need to au-
Mr. Atkins founded his be- and their staffs, according to a tomate a transfer from your
EVAN VUCCI/ASSOCIATED PRESS
hind-the-scenes consulting busi- person familiar with his role. checking account to your sav-
ness, Patomak Global Partners Mr. Atkins and Mr. Hensarling ings account after every pay-
LLC, in the garage of his subur- briefly overlapped on a panel check? Do you need to boost
ban Washington home in 2009 that monitored the 2008 Trou- your contribution to your
after he stepped down as a Re- bled Asset Relief Program, the 401(k) or eat out only two
publican member of the Securi- bailout mechanism for trou- times a week instead of three?
ties and Exchange Commission. bled banks. He has testified Where will you invest the
Since then, he has prepared four times before the House
private-equity firms for com- Paul Atkins is a candidate for a top post in the new administration, either at the SEC or Fed. committee since 2011.
pliance exams, devised strate- Mr. Atkins’s tenure as an SEC
gies for mutual funds to resist grasp of securities laws, made lation of businesses such as pri- nese affiliates of the Big Four commissioner from 2002 to
Above all, your
government curbs on risk tak- him a fitting choice to head the vate-equity firms, hedge funds accounting firms, which had re- 2008 reinforced his conserva- financial resolutions
ing and helped Chinese ac- part of Mr. Trump’s transition and broker-dealers. Many of his fused to cooperate with a series tive credentials. He was known
counting firms avert a ban on team responsible for digging company’s consultants previ- of SEC accounting-fraud probes. for opposing rules that he felt
need to be specific
doing business in the U.S., ac- into financial agencies. Mr. At- ously worked at the SEC, Com- (The firms argued that Chinese weren’t justified by economic and realistic.
cording to the people familiar kins, 58 years old, is also a lead- modity Futures Trading Com- law prevented them from shar- analysis, a concern he carried
with the matter. Patomak’s ing candidate for a top post in mission or Fed. ing documents the SEC sought.) into his consulting business.
other clients have included the the Trump administration, ei- Patomak’s clients include Mr. Atkins tried to convince an While Patomak and other
U.S. Chamber of Commerce ther to run the SEC or become firms that have run afoul of gov- SEC administrative judge that consultants benefited from the money? If you’re not sure
and Fidelity Investments, the the Federal Reserve’s point man ernment rules and need supervi- he shouldn’t permanently ban regulatory expansion that fol- where to invest, then whom do
people said. on banking oversight. sion to get their compliance sys- the firms from auditing compa- lowed the 2008 financial crisis, you know who can help?
Patomak—named for an old Such an appointment would tems back in order. Mr. Atkins nies listed on U.S. exchanges, as it also could profit from changes
spelling of the Potomac River mark a shift for Mr. Trump, was appointed by a U.S. district the SEC had proposed. that occur during a Republican Seek Support
bordering Washington—also who so far has stocked his ex- judge in October to monitor The Chinese audit firms later administration. The SEC has It can be difficult to keep
sells its expertise to the govern- ecutive branch largely with Deutsche Bank AG, which was agreed to pay $500,000 each to been looking at outsourcing ex- resolutions because you are
ment, monitoring financial com- people who have run big com- sued by regulators for repeat- settle the SEC’s claims and co- ams of thousands of investment making a change from the sta-
panies that commit to upgrade panies but lack any govern- edly failing to report derivatives operate with the agency in the advisers to firms such as Pato- tus quo, says Maggie Baker, a
their compliance systems. Even ment experience. Mr. Atkins, trades as required under the future. mak and could complete that Wynnewood, Pa., psychologist.
so, Mr. Atkins remains a critic of on the other hand, built a busi- 2010 Dodd-Frank law. Even though compliance proposal under a GOP chairman. For example, she says, it might
regulation, attacking Democrats ness around navigating Wash- In other cases, Patomak has work helps to pay the bills at The proposal was championed seem easier to hold on to a
he says believe they can direct ington’s nooks and crannies. aided businesses feuding with Mr. Atkins’s firm, people who by Daniel Gallagher, who now poor-performing stock than it
the invisible hand of the market. Mr. Atkins launched Patomak the government. In 2013, Mr. At- have worked with him say his serves as Patomak’s president, is to keep your resolution to
His libertarian political views, as the Obama administration kins testified in Washington as passion remains public policy when he was a Republican SEC reallocate those funds (even
combined with his technical ramped up oversight and regu- an expert witness for the Chi- and fighting to restrain the gov- commissioner from 2011 to 2015. though waiting to sell the
shares might hurt your fi-
nances in the long run).
After Slower Year, Deal Prospects Set to Brighten Seek support from a “reso-
lution buddy,” says Ms. Baker,
who often helps clients who
overspend or take on too
BY DANA MATTIOLI agreed to buy Time Warner campaign trail took aim at the much debt. This person might
Inc. for about $85 billion, in Strong Showing proposed AT&T-Time Warner be a spouse, friend, financial
After a turbulent year for the year’s largest deal. The an- While merger volume dipped from 2015’s record level, 2016 was still deal. What’s more, job cuts are planner or other trusted per-
mergers and acquisitions, nouncement followed by a day one of the busiest ever for deal-making. often a big part of the ratio- son with whom you can share
some deal makers are giddy British American Tobacco nale for a merger and Mr. your resolutions.
about 2017’s prospects. PLC’s $47 billion bid for the $5 trillion $3.67 trillion Trump has shown a strong in-
M&A had a big year in 2016, stake of Reynolds American M&A deals announced globally clination to push back against Cut Yourself Some Slack
4
despite resistance from Wash- Inc. it didn’t already own. moves by companies that re- If you break your resolu-
ington on antitrust and other Less than a week later, chip 3 duce employment in the U.S. tions (say, by taking an expen-
grounds, showing how strong maker Qualcomm Inc. agreed Even if the government sive vacation when you said
the urge to consolidate is after to pay roughly $39 billion for 2 doesn’t stand in the way, other you would take a lower-budget
a prolonged period of sluggish NXP Semiconductors NV. factors could—like a sharper- one), consider what happened.
growth. With the Trump ad- More recently, industrial-gas 1 than-expected rise in interest You may have succumbed to
ministration and a Republican- giants Praxair Inc. and Linde rates, which would increase peer pressure or decided a
led Congress now expected to AG on Dec. 20 said that they 0 the cost of funding deals. A nice vacation was a greater
broadly ease regulation, would merge in a deal that 1995 2000 ’05 ’10 ’15 pickup in growth could also priority than saving for retire-
merger activity could get a big would create a company val- take away one major catalyst ment. If so, understand the
additional boost, deal mak- ued at $67 billion. The number of large deals was also down from a record in 2015, for deal-making, and give potential consequences of
ers say. “I haven’t seen a set of fac- but remains elevated. companies more of an incen- your decision.
There were $3.7 trillion of tors that’s been more bullish 50 28 tive to invest in their busi-
takeovers announced globally for M&A activity in some Number of deals announced globally worth $10 billion or more nesses instead, but mergers Plan for Failure
40
in 2016, according to Dealogic. time,” said Peter Weinberg, a have historically increased Since many financial reso-
While that represents a de- veteran banker and co-founder 30 with economic growth. lutions fail because people
cline of roughly 15% from of Perella Weinberg Partners, One driver of merger activ- can’t bring themselves to do
2015’s record of $4.4 trillion, which advised on both the 20 ity in 2016 thrown into doubt something they dislike for an
it still makes 2016 the third- AT&T-Time Warner and by the election is China: Com- extended period, Derek Tharp
most-active year for mergers. Praxair-Linde deals. Mr. Wein- 10 panies there struck $67 billion recommends using “tempta-
In a sign the pace of activ- berg says tax-law changes, to- worth of U.S. takeovers in tion bundling” (or pairing
0
ity may be quickening, Octo- gether with low interest rates 2016, nearly five times the something you don’t like to do
ber ranked as the busiest and increasing CEO confi- 1995 2000 ’05 ’10 ’15 prior high in 2014, according with something you do).
month ever. And while there dence, could push deal-making Source: Dealogic THE WALL STREET JOURNAL. to Dealogic. Given indications For example, if you are
was a decline in the number into record territory in 2017. Mr. Trump may take a con- making a resolution to reduce
megadeals that were 2015’s Another factor bullish deal dollars of previously an- apart due to government scru- frontational approach toward your debt, you might imple-
hallmark—there were 28 advisers are banking on is a nounced tie-ups withdrawn. tiny was Pfizer Inc.’s roughly China, deal makers say that ment a rule that says you can
transactions valued at $10 bil- more accommodating antitrust While not all of them dis- $150 billion proposed deal for activity could slow. only visit your favorite restau-
lion or more in 2016, com- apparatus. solved because of antitrust is- drugmaker Allergan PLC. Even without such pressure, rant after paying down $1,000
pared with 44 the year be- The year just past was the sues, deal makers generally There is no guarantee the China may put on the brakes in debt, says Mr. Tharp, a fi-
fore—in the past few months, biggest-ever in terms of the view the Obama administra- new administration will go as the government is expected nancial planner at Conscious
there have been blockbusters. volume of collapsed deals, tion as tough on takeovers. easier on merger plans, and to impose tighter controls on Capital Inc. in Cedar Rapids,
AT&T Inc. in late October with more than half a trillion Among the deals that fell indeed Donald Trump on the overseas investments. Iowa.
B8 | Tuesday, January 3, 2017 * *** THE WALL STREET JOURNAL.
EQUITIES
AHEAD OF THE TAPE | Steven Russolillo
Street’s Strategists
Run as Pack in ‘17
Wall For instance in 2000, the
Street most optimistic strategist
strategists thought the S&P 500 would
are abiding finish the year at 2800. The
by a new most bearish expected
motto these 1400. Neither was correct
days: When as the S&P 500 dropped
in doubt, copy everyone 23% that year, finishing at
else. 879. The gap between the
The turn of the calendar two has narrowed in the
comes at a time when years since. And now, basi-
stocks are sitting near re- cally everyone has similar
cords. The combination of forecasts. “The biggest
stretched valuations and worry is that group-think is
the unknowns about Donald rampant,” Mr. Goepfert
Trump’s first year as presi- said.
dent make 2017 a tough There is a bright side:
KRISZTIAN BOCSI/BLOOMBERG
year to forecast. Strategists are coming off a

That has made the herd surprisingly accurate year.
mentality on Wall Street At the beginning of 2016,
more pronounced than ever. they forecast the S&P 500
A group of 15 Wall Street would finish at roughly
strategists expect the S&P 2200, just below where it
500, on average, to finish ended Friday.
the year at 2356. That is rare; since 2000,
The eurozone’s manufacturing sector accelerated in December, posting its best reading since 2011. Above, a Porsche factory in Germany. That is only about a 5% they have predicted the
gain, the least optimistic S&P 500 would gain about
Factory Data Spur Stocks in Europe

this bunch has been since 10% a year, grossly over-
2005, according to Bespoke
Investment Group.
5%
At the high end is RBC’s
BY GEORGI KANTCHEV U.S. Bank Wealth Management and flirting with the 20000 Index, which measures the dol- Jonathan Golub, who fore-
expect the S&P 500 to rise 7% milestone, as investors banked lar against a basket of 16 cur- casts 2500 by year-end. On
European stock markets after a 9.5% gain last year. In on an improving economy. rencies, rose 0.3%. the other side, David Kostin
rose in thin holiday trading Europe, a weaker euro and Investors also will be keep- The rising dollar was one of at Goldman Sachs Group Analysts’ projected increase in
Monday after data showed the continued easy monetary pol- ing an eye on developments in the top themes for investors Inc. and Bank of America the S&P 500 this year
Continent’s economy ended icy from the European Central China, where a stock-market last year, with the currency Merrill Lynch’s Savita Sub-
last year on a high note. Bank are also expected to sup- slide and the weakening yuan gaining 3.1% in 2016, according ramanian are among sev-
In the first trading session port stock markets. early last year sparked a sell- to the WSJ Dollar Index. Many eral strategists with targets
of 2017, the Stoxx Europe 600 But the big question for Eu- off around the globe. analysts expect the green- of 2300, just a slight rise shooting the market’s ac-
gained 0.5%, with Germany’s rope in 2017 is whether the In data released Sunday, back’s strength to continue from the end of 2016. tual performance. And, on
DAX rising 1% and the French Continent’s fragile economic China’s official manufacturing this year amid predictions of Within the consensus average, the consensus al-
CAC-40 adding 0.4%. The U.S. recovery will be overtaken by purchasing managers index fell higher U.S. interest rates and a forecast is a telling trend: ways has predicted annual
dollar also rose on Monday, ex- populist politics. Antieuro pop- to 51.4 in December from 51.7 stronger U.S. economy. Few strategists are willing gains, missing all five down
tending its rally into the new ulist candidates gained trac- the previous month, indicating A rising dollar, coupled with to deviate much from the years in that stretch. The
year. Most other global tion last year and will face a the world’s second-largest uncertain political outcomes in pack. only time strategists’ fore-
bourses, including New York test at the polls in this year’s economy continued to expand, the eurozone, could drive both The gap between the casts were more accurate
and London, are closed for the elections in France, the Neth- though at a slower rate. currencies to trade at parity most optimistic and pessi- than last year was in 2005,
New Year’s holiday. erlands and Germany. “There is still some room with each other, analysts said. mistic forecasts is just 9%, when they missed the S&P
The eurozone’s manufactur- “Political risks remain ele- for equities on the upside as That could be welcome news the smallest on record dat- 500’s 3% gain by only 0.2
ing sector gained speed in De- vated this year,” said Julian the global economy improves for the Continent, as a weaker ing back to 1999, according percentage points.
cember, posting its best read- Howard, head of multiasset so- but the journey will be long euro could make export-driven to Jason Goepfert, founder Just like predicting the
ing since April 2011, according lutions at GAM. “Europe will and punctuated by pauses and economies such as Germany of Sundial Capital Research. weather, forecasting the
to a survey of purchasing man- grapple with the need for reso- sometimes ugly reversals,” Mr. more competitive. market is often a dubious
agers released Monday. Data lution of the Italian banking Howard said. For emerging markets, how- exercise, not just for Wall
firm IHS Markit said its Pur- crisis and elections in key Government bonds ever, a rising greenback spells Clumped Together Street strategists but other
chasing Managers Index for countries France and Germany, strengthened slightly on Mon- trouble as companies and gov- Difference between strategists’ market soothsayers. A
the eurozone rose to 54.9 in not to mention a growing ter- day, with the yield on the Ger- ernments that have borrowed highest and lowest S&P 500 study by CXO Advisory
December from 53.7 in the pre- rorist threat.” man 10-year bond, which heavily in the U.S. currency year-end price targets Group collected more than
vious month, in line with an Last year, the Stoxx Europe moves inversely to its price, would find their debt more dif- 6,500 forecasts from 68 so-
earlier estimate. A reading 600 finished 1.2% lower, falling to 0.183% and the ficult to service. 100% called market gurus.
above 50 indicates an expan- mostly dragged down by trou- French 10-year government Stocks in the Asia/Pacific re- More were wrong than
sion in activity, and a reading bles at major European banks. bond yield dropping to 0.659%. gion moved higher early Tues- 75 right. And an accuracy rate
below that level a decline. That contrasted with the rally Other major government debt day. Australia’s S&P ASX 200 led as high as 70% was “quite
50
Strategists are broadly bull- in U.S. markets, with the Dow markets were closed Monday. the way, up 1.2%, while South rare,” says Steve LeCompte
ish on global stocks this year Jones Industrial Average log- In currencies, the euro fell Korea’s Kospi and Hong Kong’s of CXO.
25
amid expectations for stronger ging its best performance 0.4% against the dollar to Hang Seng Index each rose 0.5%. Maybe there is a benefit
economic growth. Analysts at since 2013—up 13% last year— $1.0477, while the WSJ Dollar Japanese markets were closed. to following the herd. When
0
the consensus forecast is
2000 ’05 ’10 ’15 wrong, at least everyone
THE TICKER Source: SentimenTrader will be wrong together.
Market events coming this week
Tuesday Previous change in stocks Currencies
Construction spending in billions of cubic feet
Oct., previous up 0.5% Natural gas down 237 U.S.-dollar foreign-exchange rates in late New York trading
US$vs, US$vs,
Nov., expected up 0.5% ISM non-mfg index YTDchg YTDchg
Mon Mon
Nov., previous 57.2 Country/currency in US$ per US$ (%) Country/currency in US$ per US$ (%)
ISM mfg. index
Dec., expected 56.8 Americas Vietnam dong .00004392 22771 ...
Nov., previous 53.2
Dec., expected 53.6 Argentina peso .0627 15.9390 0.4 Europe
Earnings expected*
Brazil real .3062 3.2656 0.3 Czech Rep. koruna .03869 25.846 0.6
Estimate/Year Ago($)
Canada dollar .7441 1.3439 –0.02 Denmark krone .1406 7.1109 0.6
Wednesday Constellation Brands Chile peso .001493 669.80 ... Euro area euro 1.0477 .9545 0.4
1.71/1.42
Mort. bankers indexes Colombia peso .0003331 3002.00 .... Hungary forint .003379 295.91 0.6
RPM Intl. 0.61/0.62
Purch., previous n.a. Ecuador US dollar 1 1 unch Iceland krona .008828 113.27 0.3
Walgreens Boots .0482 20.7385 0.02 0.2
Refinan., prev. n.a. Mexico peso Norway krone .1155 8.6582
1.09/1.03 Peru new sol .2980 3.356 0.1 Poland zloty .2369 4.2212 0.8
Total vehicle sales Friday Uruguay peso .03409 29.3300 –0.1 Russia ruble .01632 61.263 ...
Domestically produced, at an Venezuela b. fuerte .100050 9.9951 ... Sweden krona .1094 9.1403 0.4
annual rate
Factory orders Switzerland franc .9768 1.0238 0.5
Oct., previous up 2.7% Asia-Pacific
Nov., previous 17.9 mil. Australian dollar .7185 1.3918 0.2
Turkey lira .2821 3.5446 0.6
Dec., expected 17.7 mil. Nov., expected down 2.3% Ukraine hryvnia .0368 27.1920 0.4
China yuan .1440 6.9451 ...
UK pound 1.2278 .8145 0.5
Nonfarm payrolls Hong Kong dollar .1289 7.7571 0.02
Thursday Nov., previous 178,000 India rupee .01472 67.955 –0.01 Middle East/Africa
Dec., expected 185,000 Indonesia rupiah .0000739 13524 –0.01 Bahrain dinar 2.6522 .3771 –0.03
Initial jobless claims Japan yen .008503 117.61 0.5 Egypt pound .0552 18.1315 –0.01
Previous 265,000 Int’l trade deficit in Kazakhstan tenge .002997 333.69 ... Israel shekel .2593 3.8558 0.2
Expected 260,000 billions Macau pataca .1248 8.0147 1.2 Kuwait dinar 3.2657 .3062 0.2
MICHAEL NAGLE/BLOOMBERG
Oct., previous $42.6 Malaysia ringgit .2229 4.4860 ... Oman sul rial 2.5974 .3850 0.01
Previous change in stocks Nov., expected $44.2 New Zealand dollar .6924 1.4443 0.01 Qatar rial .2764 3.618 –0.6
in millions of barrels Pakistan rupee .00958 104.375 ... Saudi Arabia riyal .2672 3.7427 –0.2
Crude oil up 0.6 Unemployment rate Philippines peso .0202 49.607 ... South Africa rand .0730 13.6926 ...
Gasoline down 1.6 Nov., previous 4.6% Singapore dollar .6892 1.4509 0.2
Distillates down 1.9 Dec., expected 4.7% South Korea won .0008306 1203.93 –0.3 Close Net Chg % Chg YTD%Chg
Sri Lanka rupee .0067367 148.44 ... WSJ Dollar Index 93.26 0.32 0.35 0.35
* FACTSET ESTIMATES EARNINGS-PER-SHARE ESTIMATES DON’T IN-
CLUDE EXTRAORDINARY ITEMS (LOSSES IN PARENTHESES) ADJUSTED Taiwan dollar .03086 32.404 –0.2 Sources: Tullett Prebon, WSJ Market Data Group
FOR STOCK SPLITNOTE: FORECASTS ARE FROM DOW JONES WEEKLY Thailand baht .02798 35.740 –0.2
SURVEY OF ECONOMISTS Drugstore operator Walgreens Boots Alliance reports results on Thursday.
CREDIT MARKETS
analyst is sticking to his posi- Street Journal on Dec. 20. that cap may be around zero seems to be pricing in a lot of Mr. Major: If you had very
The Analyst tion.
The yield on the 10-year
WSJ: People keep expecting
yields to go up. You’ve been
still in a year’s time.
Think about emerging mar-
positive news, and we don’t
have a great deal of evidence
clear evidence in the data that
productivity was picking up—
Who Sees Treasury note, which moves in
the opposite direction of its
among the most prominent
people saying you don’t quite
kets. Think about China. In the
last few years, China has on at
to base that on. It’s more
hope, I think, than anything
and that could come—and you
had continuing strength in
New Lows price, has climbed to 2.446%

from its record low of 1.366%
in July, driven in large part by
see it yet.
Mr. Major: I think many
people have been guilty of
least two occasions actually
influenced the Fed’s decision
else.
When you’re already start-
ing from a heavily indebted
wages, a Fed that decides that
it’s going to move like in 1994,
whereby they were moving ev-
For Yields expectations of faster growth
and inflationary fiscal policies
only looking at the U.S. in a
closed-economy way. What has HSBC Holdings
position, historical compari-
sons are hard to come by, but
ery other meeting just about,
that would be pretty bearish.
BY SAM GOLDFARB under a Donald Trump presi- helped inform our opinion is PLC head of I suspect the impact of what- WSJ: How high do you
dency. taking it more global. fixed-income ever fiscal loosening we have think the 10-year Treasury
It almost has become an an- Mr. Major, though, is still When you ask me about last research is going to [have a smaller im- yield could get?
nual rite to finish the year calling for a 10-year yield of year’s forecast and the year Steven Major pact.] Mr. Major: I doubt you’ll
forecasting the end of the bull 1.35% by the end of 2017. before and the year before is bullish on There’s a reason we’ve been get to 3%. I can’t imagine the
run for U.S. government Among his bets, he is wager- that, they all would have in- Treasurys. stuck with very low natural forwards getting much above
bonds. Steven Major, global ing that higher yields in the cluded some reference to rates for so long, and that’s re- 4% to 4.5%. That takes you
head of fixed-income research short term could hurt the where we saw the [German] lated to very, very long-term, back to the post-taper period
at HSBC Holdings PLC, has economy and that a major bund and [Japanese govern- on the fed-funds rate. deep structural factors: demo- in 2013. That was a level that
consistently separated himself stimulus package won’t mate- ment bond] yields. WSJ: That gets us to Don- graphics, excess of debt, pro- was above the longer-term
from the crowd in recent years rialize. I’m pretty sure for 2017 ald Trump. Can you give your ductivity, wealth inequality, nominal GDP and, therefore,
by predicting lower Treasury The following is a con- we’ll still see very low bund take on what the market is ex- these type of things. was something that I took as a
yields. densed and edited version of a and JGB yields. The Bank of pecting and what you’re ex- WSJ: If you could make signal that we were in se-
Having been proved right in telephone interview with Mr. Japan is effectively running a pecting? your best bear case for Trea- verely restrictive financial
the past, the London-based Major conducted by The Wall cap on the 10-year yield and Mr. Major: The market surys, what would it be? conditions.
MARKETS
WSJ’s Daily Shot: The Financial Even as overall U.S. economic data has lately improved, individual Americans face major
challenges. Home ownership for many remains out of reach, as wage growth fails to keep pace
with home prices. Rent and health-care costs also are significantly higher. And while more
State of America in Six Charts Americans are working, productivity remains weak, weighing on pay. –LEV BORODOVSKY
Many Americans have been priced out of the real estate market as
The homeownership rate continued to decline At the same time, rental vacancies fell further as younger weakness in residential construction reduced the inventory of single-
in 2016, hitting its lowest level in decades. Americans became what’s known as ‘generation rent.’ family homes. Home prices are now rising much faster than wages.
HOMEOWNERSHIP RATE, QUARTERLY Shaded areas RENTAL VACANCY RATE, QUARTERLY HOME PRICES AND EARNINGS
indicate U.S. House price index, 1996=100
70% 12% 220
recessions
10 200
68
180
8
66 160
6
140 Average hourly
64
4 earnings index,
120 1996=100
62
2 100
60 0 80
1995 2000 ’10 ’16 1995 2000 ’10 ’16 1995 2000 ’10 ’16
While U.S. inflation remained benign last year, health-care Productivity growth in 2016 was extremely disappointing, driven
costs rose sharply. Part of the reason was an attempt by the mostly by lack of investment. Will the renewed optimism and a
pharmaceutical industry to raise prices before Hillary Clinton, Labor force participation has finally turned the corner as more efficient tax treatment proposed by the Republicans spur
who was expected to win the presidential election, took office. demand for workers and higher wages brought many Americans. capital investment and improve productivity in 2017?
MEDICAL CARE CONSUMER PRICE INDEX, YEAR-OVER-YEAR CHANGE LABOR PARTICIPATION RATE, AGES 25-54 CHANGE IN PRODUCTIVITY, FIVE-YEAR ROLLING PERIOD
6% 85% 20%
5 84
15
4
83
3 10
82
2
5
81
1
0 80 0
1995 2000 ’10 ’16 1995 2000 ’10 ’16 1995 2000 ’10 ’16
WSJ subscribers can get The Daily Shot - a chart-by-chart briefing on markets and economics - to their email each morning. Subscribe at wsj.com/newsletters
Sources: Federal Reserve Bank of St. Louis; Census Bureau (homeownership, rental vacancy); Federal Housing Finance Agency (home prices, earnings); Bureau of Labor Statistics (medical consumer prices, labor participation) THE WALL STREET JOURNAL.
Email: heard@wsj.com
HEARD ON THE STREET FINANCIAL ANALYSIS & COMMENTARY WSJ.com/Heard
No Silver Bullet for Commodities OVERHEARD 2016: The

Recession
Global commodities recent troubles in the money “2016 can’t end soon
Construction Cash
producers are hoping that
China will order big lumps of
iron, coal and copper in the
China domestic investment,
market.
Chinese banks like munis
in part because they are
enough” became a popular
phrase as the year wore on.
But perhaps the saying most
That Wasn’t
change from a year earlier
new year to send prices widely accepted as collateral applies to biotech shares. When the historians come
higher. 60% for money-market Shares of development- to grips with 2016, they will
AGENCE FRANCE-PRESSE/GETTY IMAGES
The miners are banking on transactions, notes Frances stage company Cempra fell have plenty of material to
a boost in infrastructure 40 Cheung, head of rates for more than 50% Thursday, the work with.
spending, which they believe Infrastructure Asia, excluding Japan, at second-to-last trading day of From Brexit to Donald
would offset the price 20 Société Générale. the year, after the company Trump, the year has offered
declines caused by slowing With money markets in announced the Food and Drug investors lots of surprises.
growth in housing. China is 0 full deleveraging mode now Administration had rejected But for markets, the things
the marginal buyer of every after the U.S. Federal its new drug candidate, the that didn’t happen were just
Real estate
big commodity, but the idea –20 Reserve’s rate increase, bank antibiotic solithromycin. Cem- as important.
that Chinese infrastructure 2007 2010 demand for municipal bonds pra said in a statement that A big one: a recession.
can itself drive prices much could weaken. the FDA wants the company Early in 2016, investors
Note: Figures are three-month moving
beyond recent highs looks averages. That means higher fund- to test the safety of its treat- feared a renewed economic
misplaced. Source: CEIC A man works at a construction ing costs for local government in a significantly larger downturn, with concerns
There are two main THE WALL STREET JOURNAL. site in Shanghai ments. patient population than it had centering on China. By early
reasons to be skeptical. First, The slowdown in Chinese done before. The FDA also February the S&P 500 was
with the exception of certain likely needs to rise around cause substantial problems real-estate construction next identified deficiencies in the down more than 10% and
categories like power lines, 3% to offset every 1% fall in for infrastructure funding. year is unlikely to be catas- company’s manufacturing pro- bonds were surging. Com-
infrastructure is, on average, real estate to replace lost Most infrastructure in China trophic, and there is little cess that must be corrected modities cracked, with oil
less metal intensive than iron-ore demand. is financed through muni- reason to expect carnage in before the regulators sign off. prices falling below $30 a
offices or homes. Real estate For copper, investment in cipal bonds or so-called local the commodities markets on On Friday, shares of Opko barrel.
accounts for around 20% of the most important type of government financing the scale of 2014 or 2015, Health fell 18% after the com- But from that fear came
fixed-asset investment in infrastructure—electric vehicles (LGFVs), off-bal- particularly if miners hold pany announced disappointing consequences. The commod-
China but nearly 40% of steel power—has also slowed ance-sheet entities cities use the line on further capacity late-stage clinical data for an ity rout extended the period
demand, notes CRU, the sharply since mid-2016. to circumvent restrictions on expansions. investigational human-growth of ultralow inflation. Central
London-based metals Higher coal prices in mid- local borrowing. But by the same token, hormone product. banks in developed markets
consultancy. 2016 pushed down growth in The selloff in Chinese investors shouldn’t count on The Nasdaq Biotechnology became more dovish. The
Although infrastructure grid investment to about 5% government bonds has par- Chinese infrastructure Index shed about 20% in Federal Reserve, which came
accounts for one-quarter of on the year in October and ticularly punished both of spending to push commod- 2016, in a generally solid year into 2016 talking about four
investment, it sucks up only November, down sharply these types of quasi-sover- ities higher, unless the for stocks. Given that perfor- rate increases, raised rates
13% to 14% of Chinese steel from the 40% gains in early eign debt. central government steps in mance, the dual stock melt- only once, in December. The
output. 2016. Demand for official with much more aggressive downs marked a worthy end dollar rally went on hold, po-
In other words, The recent convulsions in municipal bonds, meanwhile, direct stimulus. to the year. tentially supporting emerg-
infrastructure investment China’s bond market could could be dented by the —Nathaniel Taplin ing markets.
Investors, of course, are
forward-looking. Prices are a
Nintendo’s Super Mario Has a Very Short Run on Apple function of competing views
about the future that take
into account the risks
The harsh reality in the mates that “Super Mario the first iPhone launch to get around the underlying cen-
mobile game business is that Run” has generated more Mario on a touch screen. tral case.
many are willing to play, but than $30 million in gross “Pokémon Go” has remained That helps explain the
few are willing to pay. Even revenue, which suggests a top-grossing title six swings in markets. Early in
Mario can’t seem to leap about 3 million players have months after its summer 2016 investors became too
past that obstacle. bought the full game. That is launch. Nintendo is planning pessimistic. In the end, the
Nintendo launched “Super a little over 3% of the esti- mobile versions of its popu- underlying global economy
Mario Run” for Apple de- mated 90 million downloads lar “Fire Emblem” and “Ani- was pretty stable.
vices on Dec. 15. By Christ- of the game. Paying custom- mal Crossing” games. It also But heading into 2017,
KIM KYUNG-HOON/REUTERS
mas, business already ers represented about 2% of started a registration pro- particularly in the U.S., mar-
seemed to be slowing, with King Digital’s monthly cess this week for “Super kets have embraced the re-
the title having lost its No. 1 unique users before the Mario Run” on Android, indi- flation agenda. J.P. Morgan
ranking among top-grossing “Candy Crush” maker was cating that a launch on the Chase noted recently that
games on the App Store. It acquired by Activision last world’s largest smartphone consensus forecasts for
currently ranks as No. 7, put- year, and mobile-game platform is coming within global growth in 2017 had
ting it below even “Clash of maker Zynga showed a simi- the next few months. barely moved since the U.S.
Clans” and “Candy Crush ‘Super Mario Run’ lasted only briefly as the top app download. lar representation in its But investors are also election, while markets had
Saga”—both of which are most recent quarterly re- right to curb their expecta- clearly been more upbeat.
now entering their fifth year. front. Gamers pay $10 one game transactions. sults. tions. Success in mobile Expectations can be self-
The drop-off shouldn’t be time for full access to “Super But Nintendo seems to It is undeniable that Nin- games means appealing to fulfilling. But for markets, a
a complete surprise. Nin- Mario Run.” The majority of have the same challenge as tendo’s popular characters many—and keeping the right lot is riding on what Mr.
tendo chose a business top-grossing mobile games others in getting mobile are a draw in mobile, despite few coming back for more. It Trump does—and doesn’t
model for the game that gen- are free to play and only players to pay up. Market re- the fact that the company is a game Nintendo hasn’t do—starting Jan. 20.
erates most of the money up generate revenue through in- search firm Newzoo esti- waited nearly 10 years after mastered. —Dan Gallagher —Richard Barley
Advancing
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YEAR-END Review&Outlook
© 2017 Dow Jones & Company. All Rights Reserved. THE WALL STREET JOURNAL. Tuesday, January 3, 2017 | R1
New Era for Rates,

Regulation Dawns
For Investors
PHOTO-ILLUSTRATION BY RYAN ETTER
Financial shares rallied on hopes that higher rates, lower taxes, fewer constraints and a stronger economy will grow bank profits
BY JOHN CARNEY business boom the Trump ad- ond-best performer in 2016, to economic growth, interest ous regulatory environment. many cases beyond historical
ministration aims to generate. up 20.1%. rates and the steepness of the Less regulation could allow averages.
The dual prospects of a So far, markets are upbeat The KBW Bank Index has yield curve, or the difference banks to boost profits and Shares of five of the six
Donald Trump presidency and on the possibilities, betting risen about 22% since Election between long- and short-term capital returns to sharehold- largest U.S. banks—J.P. Mor-
further interest-rate increases banks will benefit from higher Day, hitting its highest level rates. The bigger the differ- ers. gan Chase & Co., Bank of
lifted banks’ shares in the rates, that other businesses since 2009. That is a dramatic ence, the better it is for banks If there is a problem for America Corp., Wells Fargo &
closing weeks of 2016. This can tolerate them and that reversal for an index of large because they borrow short bank-stock investors, it is that Co., Goldman Sachs Group
year will reveal whether a new less regulation and lower taxes national and regional banks term and lend long term. Ex- shares are priced at levels that Inc. and Morgan Stanley—are
economic order will actually will help the economy overall. that had spent the first 10 pectations for higher rates and suggest the future is already trading at more than 13 times
emerge, and boost banks’ busi- The S&P 500, which plum- months of the year below its a steeper yield curve have here. “While we’re construc- Please see ERA page R2
nesses with it. meted at the start of 2016, year-prior levels and at some been rising since the election, tive on banks, the rapid rise
The outcome is crucial for closed the year up 9.5%. Mean- points hit multiyear lows. while the Federal Reserve has has us nervous,” said Terry
both broader markets and the while, the Dow Jones Indus- The gains reflect investor echoed that by signaling three Gardner, a portfolio strategist Coming Monday
nation’s outlook for growth. trial Average rose 13%. expectations for the broader more interest-rate increases at investment-management The quarterly Investing in
Financial stocks are a big part The jubilation is particu- economy since the firms’ big could be in store in 2017. firm C.J. Lawrence. Funds & ETFs report, with
of the S&P 500, and banks’ larly apparent among financial revenue generators—lending, Another plus for banks: the And soaring share prices year-end performance, will
ability and willingness to lend stocks: Among S&P 500 sec- trading and capital-markets idea that the Trump adminis- have pushed up some valua- appear Jan. 9.
could prove critical to the tors, financials were the sec- activity—are closely correlated tration will usher a less oner- tion measures sharply, in
Central Banks Loosen Their Grip Europe’sGrowthCaught

BY JON SINDREU
Shifting Tides
have lost 5% in the past two
months.
BetweenPolitics,Policy
For markets, the era of the The question is whether BY MIKE BIRD year at $1.0520.
central bank may be starting Returns on stocks 60% Equities Bonds companies will prove profit- “A weaker euro is in the in-
to draw to a close. have caught and able enough to justify the The big question for Europe terest of the euro-area econ-
30
In 2017, tightening mone- passed those on market’s risky bets for 2017. in 2017 is whether fragile eco- omy, and pressing down on
bonds… 0
tary policy and brighter eco- Projected earnings per share nomic growth and unprece- shorter-dated yields is a good
nomic fundamentals could Total return –30 for the coming year are at dented central-bank stimulus way to [keep the euro weak]
ease markets from the grip of since 2007 all-time highs for the S&P will be overtaken by populist at a time when the Fed is
on global indexes –60
the central banks whose policy 500 and have recovered for politics. moving in the other direc-
in recent years has dominated ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 the Stoxx Europe 600 as European stocks could have tion,” said Chris Scicluna,
trading in bonds, shares and ...with riskier 1.0
well, after falling at the end a strong year if the antieuro head of economic research at
other assets. stocks reaching of 2015. populist candidates that have Daiwa Capital Markets Europe.
0.9
That shift portends big post-crisis highs... “Earnings are an improving gained traction over 2016 fail A combination of a weak
changes for investors, who al- 0.8 trend across the world,” said to win elections, as polling euro, decent economic growth
Performance of
ready are repositioning in an- 0.7 Nigel Bolton, a fund manager suggests. But if populist candi- and a stronger performance
riskier (cyclical)
ticipation. A long period of stocks relative to 0.6 at BlackRock Inc., the world’s dates triumph in coming for banks could be just what
ultralow interest rates and safer (defensive) 0.5 biggest asset manager with votes, the prospect of a euro- European investors have
central-bank asset buying has ones $5.1 trillion under supervision. zone breakup could return to wanted for years, at least for
boosted the prices of bonds ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 “We are now in this sweet spot markets. those bold enough to remain
and safe stocks. Now, inves- for equities.” Meanwhile, the world’s two in the market despite political
...but company Estimated $140
tors expect economic perfor- In the third quarter, the most important central turbulence.
earnings risk one-year 130
mance to catch up as a key forward U.S. economy expanded an banks—the Federal Reserve In 2016, international
disappointing again.
driver, not least as they pre- 120 annual rate of 3.2%, a two- and the European Central money managers soured on
Earnings per share Actual
dict stimulus will stop ex- 110 year record. Investors are Bank—continue to diverge in Europe. In the first three quar-
in the S&P 500 one-year
panding. slightly more optimistic policy, putting downward ters of the year, the eurozone
stock-market index trailing 100
That means the riskier as- about economic prospects in pressure on the value of the suffered net outflows of about
sets that benefit more from 90 the eurozone and Japan, two euro. The Fed expects to lift €405.4 billion ($423.8 billion),
Note: Through Dec. 29
growth are expected to take Sources: FTSE World (equities); 2011 ’12 ’13 ’14 ’15 ’16 regions plagued by years of interest rates three times in according to ECB data.
their end-of-year rally into Bloomberg Barclays (bonds); MSCI World feeble growth. Stable 6.7% 2017; the ECB is still engaging There are good reasons to
2017, while bonds and more (ratios); FactSet (earnings per share) THE WALL STREET JOURNAL. growth in China in the first in its bond-buying program. think that 2017 will offer a re-
defensive stocks will continue three quarters of 2016 has The euro in December peat performance: Antieuro
to suffer. explain why shares in the growth and inflation. In the calmed earlier fears of a reached its lowest level parties could score big wins in
Analysts also expect that in- S&P 500 are trading at 17 U.S., President-elect Donald painful crash. against the dollar since 2003, French, Dutch and German
vestors will now focus more on times the earnings they are Trump has pledged to increase “It’s true that central banks falling to $1.0352. It declined elections, putting the future of
company profitability and expected to generate during infrastructure spending and are stepping away, but they 3.1% against the greenback in the European Union in ques-
credit risk, as they spend less the coming year, compared ease financial regulation. are stepping away for a rea- 2016 and is down 8.8% from tion and risking a blow to the
time analyzing central bank- with a 10-year average of Higher commodity prices also son,” said Fabio Bassi, chief its peak in May. It ended the Please see EUROPE page R2
ers’ speeches word by word. 14.4, according to data pro- have boosted inflation expec- European rates strategist at
“We start going back to a vider FactSet. tations. J.P. Morgan Chase & Co.
world in which fundamentals
matter a bit more,” said Dean
Turner, economist at UBS
“The stock market hasn’t
been earnings-led for a long
time, it’s been bond-led,” said
“Central banks, particularly
the Fed, may well have less
ability to tilt dovish if fiscal
But risks remain: In recent
years, corporate earnings have
tended to disappoint. And the
INSIDE
Wealth Management. Scott Meech, a fund manager stimulus and deregulation help end of central-bank omnipres-
Since the financial crisis, at Swiss private bank Union stimulate already recovering ence, which is unlikely to fade
central banks have unleashed Bancaire Privée. economies,” said Arnab Das, quickly, has been called before.
large asset-buying programs But many investors now see head of emerging-markets eco- Furthermore, the ex-
and kept interest rates at his- a limit to central banks’ stimu- nomic research at Invesco. pected burst of government
torically low or even negative lus. In December, the ECB ex- Since November, those spending may not arrive. Fis-
levels to help stimulate growth tended its bond-buying proshares in the MSCI World in- cal policy remains subject to
and inflation. The European gram but plans to reduce its dex more exposed to economic political constraints, such as
Central Bank buys €80 billion size starting in April, amid swings, or cyclical stocks, have fears about government debt
($84 billion) in government concerns that it was running gained 10%. piles.
and corporate bonds a month. out of assets to purchase. Safer, or defensive, stocks “Absent the threat of a re-
The Bank of England also buys Shortly after, the Federal Re- on the index went up only cession, we should not expect
corporate and government
debt. The Bank of Japan even
serve nudged up rates by a
quarter of a percentage point
4.6%, despite having outper-
formed since the financial cri-
a broad plan to stimulate the
economy financed by a defi-
OIL PRICES CHINA TRIES TO
buys stocks. and hinted at tighter policy in sis. Relative to defensive cit,” said Didier Borowski, ana- NEED OPEC RECALIBRATE
A company’s revenue tends
to look more attractive when
the future.
Some investors expect gov-
stocks, the prices of cyclical
shares are now at their highest
lyst at Amundi Asset Manage-
ment, Europe’s largest
DEAL TO STICK CREDIT
rates are low, which often ernments to fill the gap and since 2008. investor, which manages $1.1
boosts its stock. That helps take a bigger role in pushing By contrast, global bonds trillion. COMMODITIES, R3 GLOBAL MARKETS, R4
R2 | Tuesday, January 3, 2017 THE WALL STREET JOURNAL.
YEAR-END REVIEW & OUTLOOK
The Year in Markets

U.S. stocks and energy-related markets were among the best
performers of 2016, many rebounding from a turbulent start
to the year. The British pound was near the bottom of the list
after taking a hit from Brexit.
Commodity, Stock index, Currency, Bonds,
traded in U.S. total return vs. U.S. dollar total return
Natural gas 57.6%

Diesel 53.8
Crude oil 45.0
Bovespa (Brazil) 38.9
Orange juice 34.0
Gasoline 31.5
Milk 28.2
Sugar 28.0
S&P 500 energy 27.4
S&P Small Cap 600 26.6
S&P 500 telecom 23.5
S&P 500 financials* 22.8
Dow Jones Transports 22.3
Brazilian real 21.7
Russell 2000 21.3
S&P/TSX Composite (Canada) 21.1
ANDREW HARRER/BLOOMBERG
S&P Mid Cap 400 20.7
FTSE 100 (U.K.) 19.1
S&P 500 industrials 18.9
Dow Jones Utility Average 18.2
Russian ruble 17.4
Copper 17.4
U.S. High Yield Index 17.1
S&P 500 materials 16.7
A cut in the corporate tax rate to 20% could lift Wells Fargo & Co.’s earnings per share 18% above its 2018 forecast, an analyst says.
Dow Jones Industrial Average 16.5
ERA
Soybeans 16.2 growth and more-robust trad- promised to roll back the reversed, even if that were
Silver 15.8 ing and investment-banking Dodd-Frank Act, the postcrisis what banks wanted to do. And
Taiwan Weighted 15.6 revenue could push earnings law that dramatically in- there are indications banks
Icelandic krona 15.2 per share for big banks up by creased regulatory oversight aren’t looking for a complete
S&P 500 information technology 13.9 Continued from the prior page 18% over analysts’ pre-election of the U.S. financial system as reversal of regulatory direc-
Amsterdam AEX 13.6 forward earnings estimates, estimates, according to Credit a whole and banks in particu- tion.
South African rand 13.0 compared with averages of be- Suisse bank analysts. lar. In response, lenders have “We don’t need to tear up
IPSA (Chile) 12.8 tween 10 and 12 times over And potential changes to had to increase the amount the rule book,” said Francesca
Soybean oil 12.7 the past 15 years, according to corporate-tax rates could and quality of their capital and Carlesi, head of regulatory af-
FactSet. Citigroup Inc. is the boost bank earnings further, available liquidity, revamp fairs at Deutsche Bank. “We
S&P 500 12.0
only laggard, trading at just even if some may take hits to their trading operations, and need time to digest the rules
S&P/ASX 200 (Australia) 11.8
shy of 12 times forward earn- tax assets on their books gen- extend the duration and stabil- we have.”
Cotton 11.6
ings, although that figure is erated by prior losses. Sanford ity of the debt they use to Academic studies also sug-
Lean hogs 10.6 still up sharply from less than C. Bernstein bank analyst John fund themselves. gest it can take banks several
CAC 40 (France) 8.9 10 times before the election. McDonald recently estimated Many observers have sug- years to adjust to major shifts
Nasdaq Composite 8.9 But valuations may appear that cutting the corporate tax gested that these changes are in regulation. In the short
Gold 8.6 lofty because many analysts rate to 20% from the current responsible in part for the low term, that could actually be a
Coffee 8.2 haven’t yet formally adjusted 35% would raise Wells Fargo’s returns on equity banks have drain on earnings as banks
IPC All-Share (Mexico) 8.1 earnings forecasts in light of earnings per share 18% above reported in recent years. may have to spend more to
U.K. 7-10 Year 7.9 the election. If those climb, the firm’s 2018 forecast. J.P. Those low returns have de- adjust compliance systems
DAX (Germany) 6.9 valuations will look more rea- Morgan’s earnings would rise pressed bank valuations. around new rules.
U.S. Corporate Index 6.1 sonable. by 13%, Bank of America’s by But dramatic changes to the While banks have been the
S&P 500 consumer discretionary 6.0 For example, a combination 12% and Citigroup’s by 10%. regulatory environment—income-from-behind underdog
of accelerated share repur- Just how much benefit fur- cluding a possible repeal of stocks of 2016, little of their
Chilean peso 5.8
chases—a possibility if the ther regulatory changes could Dodd-Frank itself—wouldn’t gains are due to anything the
S&P 500 consumer staples 5.4
Trump administration ap- bring is less clear, although in- immediately boost bank prof- firms themselves have done.
Germany 7-10 Year 4.3 points less-stringent banking vestors are betting they will itability. The changes banks In 2017, their fates will also be
Hang Seng (Hong Kong) 4.3 regulators—steeper yield do more good than harm. have made to their operations largely decided by forces out-
Euro Stoxx 4.1 curves, accelerated loan As a candidate, Mr. Trump and funding can’t be instantly side their control.
France 7-10 Year 3.9
FTSE Straits Times (Singapore) 3.8
Australia 7-10 Year 3.6
S&P BSE Sensex (India) 3.5
S&P 500 real estate† 3.4
Kospi Composite (South Korea) 3.3
Canadian dollar 3.0
Japanese yen 2.8
IBEX 35 (Spain) 2.6
Nikkei Stock Average (Japan) 2.4
Indonesian rupiah 2.3
Norwegian krone 2.3
Spain 7-10 Year 2.1
Australia 1-3 Year 1.9
Uruguayan peso 1.9
Peruvian nuevo sol 1.8
Stoxx Europe 600 1.7
Japan 7-10 Year 1.6
Kazakh tenge 1.5
U.K. 1-3 Year 1.5
New Taiwan dollar 1.4
Platinum 1.4
New Zealand dollar 1.3
BEL-20 (Belgium) 1.2
U.S. 7-10 Year 1.1
Italy 7-10 Year 1.0
U.S. 1-3 Year 0.9
SHANNON STAPLETON/REUTERS
Thai baht 0.6

Pakistani rupee 0.5
France 1-3 Year 0.4
Italy 1-3 Year 0.4
Germany 1-3 Year 0.3
Municipal Bond Index 0.2
Japan 1-3 Year 0.1
–0.7 Kuwaiti dinar As populist politicians like France’s Marine Le Pen gain ground in European nations, a breakup of the eurozone appears more likely.
–1.2 Australian dollar
EUROPE
–1.3 Hungarian forint breakup.
–1.7 Swiss franc Closing the Gap Stocks in the Euro Stoxx in-
–1.9 Corn After years of underperformance, can European equities start dex trade at a price-to-book
–2.0 Singapore dollar catching up to U.S. stocks in 2017? ratio of 1.67, considerably
–2.2 Swiss Market Continued from the prior page cheaper than the 2.8 ratio of
100%
–2.6 Indian rupee region’s growth. The U.K. gov- S&P 500 their counterparts in the S&P
–2.6 South Korean won ernment aims to begin negoti- Total return on indexes 500 index.
ations to leave the EU, ex- 75 Meanwhile, the eurozone
–2.7 S&P 500 health care
Vietnamese dong
pected to last two years, by economy ended 2016 with solid,
–2.7
the end of March. 50 if unspectacular, growth. The
–2.8 Danish krone
In a poll of credit investors ECB projects eurozone gross
–2.8 Sri Lankan rupee Stoxx
conducted in December by 25 Europe 600 domestic product growth of
–3.1 Czech koruna Bank of America Merrill 1.4% in 2017. The European
–3.1 Bulgarian lev Lynch, 60% said that “a Commission’s economic-senti-
0
–3.1 Euro greater euroskeptic push” was ment index for the bloc in No-
–3.8 Tel Aviv 25 their primary expectation for vember rose to its second-high-
–25
–4.1 Malaysian ringgit European politics in 2017. est level since the sovereign-
Philippine peso Though polling suggests 2012 ’13 ’14 ’15 ’16 debt crisis, at 106.5; the index’s
–5.5
–6.3 Polish zloty French far-right candidate Ma- Note: Percentage in dollar terms Source: FactSet THE WALL STREET JOURNAL. long-term average is 100.
–6.5 FTSE MIB (Italy) rine Le Pen wouldn’t beat cen- Likewise, business surveys
–6.5 Chinese yuan ter-right candidate François “It would raise the question center-right governments or point to healthy expansion,
–7.3 Swedish krona Fillon in the second round of for markets, can the euro proj- coalitions that could be quite and unemployment has
the presidential vote sched- ect survive? It would be remi- market friendly,” said Philip dropped consistently through
–11.4 Ukrainian hryvnia
uled in May, investors are niscent of the European debt Dicken, head of European eq- 2016 from 10.4% in January to
–12.3 Shanghai Composite
mindful of the risk of a victory crisis,” Mr. Wilson added. uities at Columbia Threadnee- 9.8% in October.
–13.2 Wheat
for an antieuro leader in the Populist candidates also are dle Investments. “If earnings European stocks have
–15.2 Live cattle currency union’s second-big- up for election in Germany growth does come back in, lagged behind their U.S. peers
–16.2 British pound gest economy. Ms. Le Pen has and the Netherlands in 2017. couple that with lower valua- in recent years. While the
–17.0 Mexican peso advocated that France leave But many optimistic investors tions and better politics, and Stoxx 600 Europe index has
–17.2 Turkish lira the eurozone and return to the note that none of the elections you could easily see the flows risen about 70% since the end
–18.5 Argentinian peso franc and has promised a ref- scheduled looks likely to pro- come back in.” of 2011, the S&P 500 has
–18.8 Rough rice erendum on the country’s EU duce a victory for a populist Though populist Donald climbed more than 100%.
–33.8 Cocoa membership. candidate. Bookmakers Betfair Trump’s victory in the U.S. “Europe has been one of
A Le Pen victory is possible, estimate Ms. Le Pen’s chances presidential election in No- the biggest disappointments,
*Included real estate before Sept. 19 sector split †Performance before Sept. 19 was said Andrew Wilson, CEO of of winning the French election vember was followed by a but people got too negative,”
based on the real-estate industry group, the precursor to the new real-estate sector. Goldman Sachs Asset Manage- at 27%. stock-market rally, in Europe said François Savary, chief in-
Note: Total return reflects price change and periodic payments. Shanghai Composite ment in Europe, the Middle “It could be that in nine any positive impact of a popu- vestment officer at Geneva-
and Kospi reflect price change.
East and Africa. “It’s not our months’ time we’re saying we list win on stocks would likely based Prime Partners “I see
Sources: FactSet (indexes, commodities); Tullett Prebon (currencies);
Bloomberg Barclays (bonds) THE WALL STREET JOURNAL. central case, but I wouldn’t dodged the worst potential be overshadowed by the re- the scope to outperform the
describe it as a tail-risk event. outcome and ended up with newed risk of the eurozone’s U.S. next year.”
THE WALL STREET JOURNAL. Tuesday, January 3, 2017 | R3
Oil’s Slippery Path Higher Resurgent Dollar

Analysts expect crude
to be volatile after its Looking Ahead
Looms Over World
big 2016 rebound as at Oil Prices BY IRA IOSEBASHVILI their debt more difficult to
Where investment service.
producers make cuts banks in December's On Wall Street, the rising For China, the rising dollar
survey see the price dollar has been one of the is exacerbating capital out-
BY GEORGI KANTCHEV of U.S. crude-oil futures most visible signals of grow- flows and tightening liquidity,
AND SARAH MCFARLANE ing optimism in the U.S. econ- shaking markets that had en-
in the next few quarters
omy. For many other coun- joyed a period of relative sta-
Oil prices may finally have tries, it spells trouble. bility for most of 2016. Chi-
stabilized, but hurdles to fur- An oil pump near Many analysts expect the nese bond markets plunged in
ther gains remain. Bakersfield, Calif. U.S. currency to strengthen reaction to December’s Fed
After more than two years in 2017, extending a gain that meeting, at which the U.S.
of a crude glut that drove has boosted the value of the central bank decided to lift
prices to decade lows, analysts $100 Forecasts dollar by more than one-third rates and signaled several
and industry executives see Nymex crude oil, price per barrel* Standard since the U.S. credit down- more boosts. Chinese regula-
*Through Dec. 30
supply and demand of oil re- 90 Chartered grade in 2011. That expecta- tors injected money to allay a
balancing in 2017. A deal be- RBC tion is mostly because a possible credit squeeze, while
tween the Organization of the 80 strengthening economy ap- stocks also fell.
Petroleum Exporting Coun- Bank of America pears likely to enable the China’s central bank also
70 Merrill Lynch
tries and other producers to Federal Reserve to enact its had to drain $300 billion of its
cut about 2% from global pro- 60 Barclays plan for multiple interest- reserves in the first three
duction this year is expected J.P. Morgan rate increases in 2017. Higher quarters of 2016, more than it
to push prices close to or 50 rates make it more attractive spent in all of 2015, as it
above $60 a barrel, a level not Citigroup to hold dollar-denominated fought to slow the yuan’s de-
40
seen since the summer of 2015. Société Générale assets, attracting money into cline against the dollar.
Market watchers expect 30 Deutsche Bank the U.S. China’s currency is down 4.3%
prices to stay volatile, how- “Right now, there is an in- against the dollar since Octo-
ever, given OPEC members and 20 Commerzbank credible amount of pressure to ber, falling to a record low.
other producers often haven’t BNP Paribas sell just about every type of Other emerging-market cur-
followed through on similar 10 currency and buy the dollar,” rencies have been hit far
Credit Suisse
agreements in the past. Higher 1Q 2Q 3Q 4Q said Christopher Stanton, chief worse: The Turkish lira was
0 ING Bank
prices may also encourage U.S. investment officer at Sunrise off nearly 15% in the last three
drillers to ramp up output, 2014 2015 2016 2017 Capital LP, which manages months of the year.
while a slowdown in global de- $700 million. Expectations of fiscal stim-
mand for crude could curb any Sources: WSJ Market Data Group (oil price); the companies (forecasts); Reuters (photo) THE WALL STREET JOURNAL. Mr. Stanton recently bet ulus under President-elect
rally, analysts say. that the U.S. currency will ap- Donald Trump “have abso-
On Friday, West Texas in- will take a long time to drain. One of the biggest chal- another hurdle on the path to preciate against the Australian lutely re-energized the dollar,”
termediate crude closed at “I don’t think people have lenges for oil prices in 2017 rebalancing. Some analysts dollar, Japanese yen and euro said Alan Ruskin, head of G-10
$53.72 a barrel, up 45% for the fully grasped the scale of the will be whether the countries have called the OPEC deal a in the next few months. foreign-exchange strategy at
year, the commodity’s best excess inventory that has to that signed up to cut produc- gift to U.S. producers, which A stronger dollar raises the Deutsche Bank. “This is a ma-
performance since 2009. clear, so the imbalance be- tion will deliver. OPEC mem- are generally seen as better buying power of U.S. consum- jor shift in policy dynamics.”
For now, industry insiders tween supply and demand bers and suppliers including able to ramp up production in ers and businesses by making The Wall Street Journal
appear optimistic. “The mood needs to be corrected dramati- Russia struck a deal in early a hurry when prices rise. imported items cheaper and Dollar Index, which measures
has definitely turned more cally and for a very long pe- December to cut around 1.8 “The issue OPEC has is it reducing the costs of travel- the dollar against a basket of
bullish, people are more confi- riod of time,” he said. million barrels a day of crude becomes a self-defeating ing abroad. By the same to- 16 currencies, rose 3.1% in
dent that OPEC will do enough A survey of 14 investment output starting in January. mechanism—if they can cut ken, it hurts U.S. exporters by 2016 on a late-year surge
to rebalance the market in the banks by The Wall Street OPEC has a poor record of enough to raise prices, all that making their goods less com- against the euro, yen and
first half of 2017,” said Adam Journal projects that Brent sticking to supply agreements. does is incentivize other pro- petitive overseas, cutting into emerging markets.
Ritchie, a director of consult- crude, the international oil- In 17 production cuts since duction,” Mr. Rahim said. corporate earnings and poten- Roughly 60% of clients sur-
ing firm Petro-Logistics SA. price gauge, will average $56 a 1982, OPEC members have re- The number of rigs drilling tially weighing on stock veyed by Citigroup believe the
That would be a welcome barrel in 2017. Brent rose 52% duced output by an average of for crude in the U.S. has been prices. dollar will be either “moder-
development for an industry hit during 2016, ending Friday at 60% of their commitments, ac- rising since the summer and In emerging markets, sus- ately higher” or “sharply
hard by lower prices. The oil $56.82 a barrel. They expect cording to Goldman Sachs. additional supply from their tained dollar strength could higher” against developed-
rout has cost hundreds of thou- West Texas Intermediate, the “Until you start to see vol- wells is yet to hit the market. undercut prices for oil and and emerging-market curren-
sands of jobs, strained the bud- U.S. oil gauge, to average $54 umes come out of the market Citigroup estimates that if other dollar-denominated cies in 2017.
gets of producers and led to de- a barrel this year. I don’t know that you can say prices rise toward $60 a barrel commodities, pressuring de- Some worry, however, that
lays or cancellation for dozens Oil prices fluctuated in this is anything beyond senti- in 2017, U.S. production would veloping economies that ex- Mr. Trump’s proposals on in-
of multibillion-dollar projects. 2016: Brent fell to a multiyear ment,” said Saad Rahim, chief climb to 9.2 million barrels a port raw materials. frastructure spending and tax
Mr. Ritchie says, however, low of under $28 a barrel last economist at trade house Tra- day by December and to more Emerging-market compa- cuts might not come to frui-
that the glut in oil stockpiles, January and struggled to figura Group Pte. Ltd. than 10 million by the end of nies and governments that tion. And past fiscal expan-
which he estimates at around breach $50 until the OPEC Increasingly efficient U.S. 2018. It is currently running at have borrowed heavily in the sions have had mixed effects
1 billion barrels world-wide, deal pushed prices higher. shale drillers might present about 8.8 million barrels a day. U.S. currency will also find on the U.S. currency.
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The Best and Worst Performers in the S&P 500 in 2016

In an overall strong year for stocks, energy and semiconductor shares stood out, while health care lagged behind. Here, a look at the S&P 500's best and worst performers in 2016.
Nvidia Oneok Freeport-McMoRan Newmont Mining Applied Materials

BEST
Nvidia president and CEO Jen-Hsun Huang A propane delivery truck Freeport-McMoRan’s concentrate processing facility Newmont Mining's Carlin gold mine in Nevada A technician at the Applied Materials facility in
in Indonesia Santa Clara, Calif.
▲224% ▲133% ▲95% ▲89% ▲73%

The chipmaker, whose annual As domestic propane prices The U.S. mining giant, which has The big gold miner enjoyed a bounce This semiconductor company also
gain was the best for an S&P 500 rebounded from a 14-year low, been pivoting toward copper after five straight years of declines, benefited from robust demand; it also
stock since 2013, has benefited this pipeline company has been production, benefited as copper though it gave up some gains as makes equipment used to produce
from a strong year across the poised to benefit. prices surged in the final months gold prices fell after a rally. OLED displays, expected to be used
semiconductor industry. of the year. in the next iPhone.
ONE TWO THREE FOUR FIVE

Endo International First Solar TripAdvisor Perrigo Vertex Pharmaceuticals
WORST
Rajiv De Silva, Endo President and CEO First Solar Inc.'s Barilla solar farm in Pecos County, Texas A TripAdvisor mascot Perrigo’s new factory in Yeruham, Israel Vertex Pharmaceuticals Inc. building in Boston
▼73% ▼51% ▼46% ▼42% ▼41%

The specialty pharmaceutical company, Shares suffered amid steep price The online travel company, whose The drug company lost its chief A leader in developing cystic-fibrosis
cooperating with several investigations, declines and lower demand in China, struggles were clear in a weak executive, Joseph Papa, to Valeant treatments, the company failed to
has also struggled as Wall Street has and as investors concluded third-quarter earnings report, says it Pharmaceuticals International Inc., win approval for an expanded
soured on growth through big drug-price Republican election wins weren't is “focused on the long game.” missed Wall Street estimates and treatment and also disappointed
increases and aggressive dealmaking. good for the solar industry. cut its 2016 financial outlook. Wall Street with sales.
Photos: Ritchie B. Tongo/European Pressphoto Agency (Nvidia); Mike Segar/Reuters (Oneok); Dadang Tri/Bloomberg News (Freeport-McMoRan); Rick Wilking/Reuters (Newmont Mining); David Paul Morris/Bloomberg
News (Applied Materials); NASDAQ (Endo); Russell Gold/The Wall Street Journal (First Solar); Axel Schmidt/Reuters (TripAdvisor); Amir Cohen/Reuters(Perrigo); Scott Eisen/Bloomberg News(Vertex) THE WALL STREET JOURNAL.
GLOBAL MARKETS
China Wrestles Cheap-Borrowing Puzzle

Beijing is trying to end act,” said Matthew Phan, a
credit analyst at research
economy’s reliance on firm CreditSights in London.
easy money but must “They want to prevent asset
bubbles like with the stock
strike delicate balance market, the bond market and
the property market, but at
BY RACHEL ROSENTHAL the same time they can’t
tighten too much. They need
At the top of regulators’ to keep injecting liquidity,
agenda in China for 2017 is a but prevent this liquidity
campaign to wean the nation’s from going places they don’t
sprawling financial system off want.”
of cheap borrowing and rising The challenge was high-
credit levels. Years of easy lighted in mid-December,
money have helped fuel when regulators cracked down
growth, but also have sparked on leveraged stock invest-
a worrisome surge in asset ments by some insurers, send-
prices and other financial ing Chinese shares down 2.5%,
risks. their biggest daily drop in
The latest target is the $9 half a year.
trillion bond market, where Later that week, tightening
the central bank has been short-term rates combined
gradually tamping down with other factors to trigger a
short-term credit to discour- big selloff in the bond market
age the kind of borrowing and scattered defaults by bro-
many financial institutions kers and asset managers. The
use to make risky invest- yield on China’s benchmark
ments. This tightening also 10-year government bond has
helps address China’s other since shot as high as 3.4% in-
big headache: keeping its traday—a 15-month high. Chi-
currency stable to stem the nese authorities briskly
flood of cash heading over- stepped in, pumping in hun-
seas. dreds of billions of yuan to
FAN PEISHEN/ZUMA PRESS
As much as $833 billion arrest the rout. That yield

may have left China in 2016 stood at 3.066% on Friday.
through November, estimates Analysts say China has the
French investment bank firepower to keep up this pace
Natixis, compared with an of liquidity injections, while it
outflow of $742 billion in all still has a foreign-exchange
of 2015. The yuan is hovering war chest of $3.05 trillion
around its weakest levels that it can tap to defend the Farmers in China move tools as they try to prevent desertification of their land; easy money in China is funding a range of projects.
since 2008 and slid 6.5% yuan.
against the U.S. dollar in The central bank’s chal- By the summer of 2016, lows in 2016.
2016. lenge shows up in its balance roughly 90% of interbank bor- The yield on China’s bench- Short Fuse
The trouble is that the easy sheet, where a rise last year rowing was in the overnight mark 10-year government China's short-term rates have become more volatile as officials seek
money is funding a huge tan- in assets associated with li- market, the shortest and bond, for example, fell to to cool down the bond market.
gle of investments by banks, quidity injections—which tend cheapest form of funding, 2.66% in October, a 14-year
insurers, brokers and specula- to lower the yuan’s value—has while the daily volume of low, from as high as 4.709% in Seven-day repo rate
tors in everything from real roughly offset the shrinkage transactions there surged to a January 2014. The spread be- 3.75%
estate and troubled infra- in foreign reserves, Mr. Phan peak of nearly 4 trillion yuan tween China’s triple-A-rated
structure projects to corpo- says. ($576 billion), according to corporate debt and govern- 3.50
rate bonds and soybean-meal The most recent buildup of data from BNP Paribas. That ment bonds with the same
futures. Any tightening can financial-system leverage be- fell to 2.75 trillion yuan in late maturity shrank to its nar-
3.25
threaten the debt-saddled gan in 2015, when the central December as officials pushed rowest on record in October,
corporate sector and poten- bank started holding short- borrowers to longer-term main data going back to 2007
tially sow turmoil in unex- term borrowing rates at a turities as a means of delever- from Wind Information. 3.00
pected places. very low stable rate to sup- aging, sending short-term bor- Spreads have since begun to
This means that Chinese port growth, which had rowing costs up sharply. widen. 2.75
officials need to tread care- started to slow. Many inves- China’s money supply has The recent spasms in the
fully in the coming months to tors tapped the cheap funds more than quadrupled since bond market are also trickling 2.50
tighten monetary conditions, to buy bonds and other finan- 2007, sending more cash through to the real economy:
curb risky investment prac- cial products, then used those chasing after a shrinking pool Some 89 bond issuances were 2.25
tices and keep the yuan from securities as collateral to in- of appealing investment op- delayed or canceled since the
depreciating too far while vest even more, a loosely reg- tions after global central start of December, according 2.00
keeping China’s economy ulated cycle repeated many banks’ accommodative mone- to Wind Information. That
healthy. times over, which clouded the tary policies pushed yields compares with 32 for all of J F M A M J J A S O N D
“It’s a difficult balancing magnitude of risk in play. around the world to record November. Source: Wind Information THE WALL STREET JOURNAL.
People Who Died in 2016

John Gutfreund and Ralph distressed-debt and real-estate eran Wall Street broker and Jack Rivkin, 76, research
Fund Fees
Asset-weighted fees for mutual funds and ETFs
1.2%
Whitworth are among the fig- investor father of J.P. Morgan Chase & head and investment strategist 1.0
ures of finance who passed Bonnie Baha, 56, bond-fund Co. CEO James Dimon who helped improve quality of
away in 2016. Mr. Gutfreund, manager and analyst who gave Donald Drapkin, 67, veteran research at Wall Street firms Active (stocks)
86 years old, was the famed early warnings on trouble at Wall Street deal maker and co- Barry Sullivan, 85, 1980s 0.8
former Salomon Brothers CEO Lehman Brothers and MF founder of activist hedge fund CEO who stabilized First Chi-
embroiled in 1991 Treasury- Global Casablanca Capital LP cago Corp. but whose tenure
bond scandal. Mr. Whitworth, Robert H.B. Baldwin, 95, Aubrey McClendon, 56, pio- was marred by problems
60, was the activist invest- Morgan Stanley chairman neer of the U.S. shale boom Jack Treynor, 86, scholar 0.6
ment pioneer who co-founded 1979-83; credited with mod- and embattled former CEO of whose work shaped thinking
Relational Investors LLC. ernizing the firm Chesapeake Energy Corp. about investment risk and Active (bonds)
Here are some others we Richard Cooley, 92, Wells Thomas Perkins, 84, legend- fund managers’ performance 0.4
lost in 2016: Fargo & Co. CEO from 1960s to ary venture capitalist; co- Daniel Tully, 84, CEO of
1980s, known for grooming founder of venture firm Merrill Lynch in the 1990s who
John Angelo, 74, co-founder CEOs of other big banks Kleiner Perkins Caufield & By- helped make the firm one of 0.2 Passive (stocks)
of Angelo Gordon & Co., major Theodore Dimon, 85, vet- ers world’s top investment banks
0 Passive (bonds)
’96 ’98 ’00 ’02 ’04 ’06 ’08 ’10 ’12 ’14 ’16
Source: Morningstar THE WALL STREET JOURNAL.
Skeptical Investors
Leave Active Funds
Despite Fee Cuts
SHANNON STAPLETON/REUTERS
BY SARAH KROUSE mains a fraction of what

investors pay active managers
Those stock and bond pick- to place bets, a major factor in
ers that cut mutual-fund fees the shift of money into index
most aggressively in 2016 are trackers such as exchange-
Bond-fund manager and analyst Bonnie Baha in 2013 the ones that continue to lose traded funds.
clients to lower-cost rivals. Investors pulled a net
The average asset-weighted $358.8 billion out of U.S.-
fee for actively managed stock based actively managed mu-
mutual funds fell by 4.8% in
2016, the most severe decline
since at least the 1990s, ac-
cording to Morningstar Inc.
Increased investor
Meanwhile the average asset- focus on fees has put
weighted fee for actively man-
aged bond funds fell more
pressure on stock and
than 6%. bond pickers.
The growing popularity of
passive funds and an increased
investor focus on fees has put
DENIS POROY/ASSOCIATED PRESS
unprecedented pressure on tual funds in the 12 months to

RON GALELLA/WIREIMAGE
stock and bond pickers, the end of November while

prompting some fund boards pouring $479.8 billion into
to approve fee reductions to passive funds, according to
make their products more at- Morningstar. The net outflows
tractive. have come primarily from ac-
Still, the average fee inves- tive stock funds, while active
tors pay to track the perfor- bond funds have continued to
Ralph Whitworth, co-founder of Relational Investors LLC, in 2006 Former Salomon Brothers CEO Johjn Gutfreund in 1991 mance of broad indexes re- pull in new investor cash.
NEW YORK STOCK EXCHANGE 2016 TRADING SUMMARY

Stock listings show the year-end price-to-earnings ratio, 2016
Dow Jones Industrial Average NYSE Markets Diary
high, 2016 low, and last trade as well as the net and 2016 2015 2014
percentage change from the previous year. Quotations
include primary market trades as well as trades reported by Advances 2996 1549 2739
Nasdaq OMX BATS, BATSY, BXSM (formerlyBoston), Declines 1674 3277 2025
Chicago Stock Exchange, CBOE, EdgeA, EdgeX, IEX, ISE,
National Stock Exchange and PSX. Unchanged 5 9 7
Net Pct Total Issues 4675 4835 4771
Stock Sym PE Hi Lo Last Chg Chg
20000 Net Pct
A Stock Sym PE Hi Lo Last Chg Chg
Bio-RadLab A BIO 55 184.89 122.03 182.28 43.62 31.5
AAC AAC dd 24.38 6.01 7.24 -11.82 -62.0 high Bio-RadLab B BIO/B 55 183.90 124.50 183.15 45.47 33.0
AAR AIR 33 38.75 18.36 33.05 6.76 25.7 Bitauto BITA dd 33.16 16.09 18.94 -9.34 -33.0
ABB ABB 27 22.92 15.74 21.07 3.34 18.8 Daily close BlackHills BKH 83 64.58 44.65 61.34 14.91 32.1
ABMIndustries ABM 40 45.03 26.50 40.84 12.37 43.4 low BlackHillsUn BKHU ... 72.10 52.89 68.87 13.44 24.2
ACCO Brands ACCO 12 13.99 5.47 13.05 5.92 83.0 65-trading-day moving average BlackKnightFin BKFS 59 42.19 25.24 37.80 4.74 14.3
AECOM ACM 59 40.72 22.80 36.36 6.33 21.1 s 18750 BlackStoneMin BSM dd 19.86 10.71 18.78 4.35 30.1
AES AES dd 13.32 8.22 11.62 2.05 21.4 BlackRock BLK 20 399.46 280.55 380.54 40.02 11.8
Aflac AFL 11 74.50 54.57 69.60 9.70 16.2 BlackstoneGroup BX 23 30.25 22.31 27.03 -2.21 -7.6
AGCO AGCO 30 61.22 42.40 57.86 12.47 27.5 BlackstoneMtg BXMT 11 31.35 22.13 30.07 3.31 12.4
AG Mortgage MITT 9 18.85 10.33 17.11 4.27 33.3 BlockHR HRB 15 35.14 19.18 22.99 -10.32 -31.0
AHBeloA AHC dd 7.95 4.75 6.35 1.35 27.0 BlueCapReins BCRH ... 19.51 16.46 18.45 1.30 7.6
AK Steel AKS dd 11.39 1.64 10.21 7.97 355.8 BlueLinx BXC dd 9.70 3.00 7.47 2.17 40.9
AMC Ent AMC 27 35.65 19.28 33.65 9.65 40.2 BoardwalkPipe BWP 16 18.49 8.86 17.36 4.38 33.7
AMECFosterWheel AMFW dd 7.82 4.57 5.71 -0.73 -11.3 17500 Boeing BA 24 160.07 102.10 155.68 11.09 7.7
AMN Healthcare AMN 19 44.99 21.24 38.45 7.40 23.8 BoiseCascade BCC 24 29.95 13.80 22.50 -3.03 -11.9
ARCDocumentSolns ARC dd 5.10 3.06 5.08 0.66 14.9 BonanzaCreekEner BCEI dd 5.50 0.60 1.02 -4.25 -80.6
AT&T T 18 43.89 33.41 42.53 8.12 23.6 BootBarn BOOT 28 17.26 5.20 12.52 0.23 1.9
A10Networks ATEN dd 10.87 4.84 8.31 1.75 26.7 BoozAllen BAH 18 38.54 25.03 36.07 5.22 16.9
AUOptronics AUO dd 4.42 2.32 3.54 0.63 21.6 s BorgWarner BWA 16 42.69 27.52 39.44 -3.79 -8.8
AVX AVX 28 16.07 10.43 15.63 3.49 28.7 200-trading-day moving average BostonBeer SAM 27 202.77 145.30 169.85 -32.06 -15.9
AXIS Capital AXS 13 66.23 51.01 65.27 9.05 16.1 BostonProperties BXP 39 144.02 107.28 125.78 -1.76 -1.4
AZZ AZZ 23 67.98 47.03 63.90 8.33 15.0 16250 BostonScientific BSX cc 24.79 15.67 21.63 3.19 17.3
Aaron's AAN 17 34.22 20.24 31.99 9.60 42.9 Box BOX dd 16.59 8.82 13.86 -0.10 -0.7
AbbottLabs ABT 42 45.79 36.00 38.41 -6.50 -14.5 BoydGaming BYD 11 21.57 14.22 20.17 0.30 1.5
AbbVie ABBV 17 68.12 50.71 62.62 3.38 5.7 Brady BRC 23 39.60 20.35 37.55 14.57 63.4
Abercrombie&Fitch ANF 63 32.83 11.85 12.00 -15.00 -55.6 BrandywineRealty BDN dd 17.05 11.22 16.51 2.85 20.9
AcadiaRealty AKR 39 38.01 30.25 32.68 -0.47 -1.4 BrasilAgro LND dd 4.11 2.15 3.25 0.32 11.0
Accenture ACN 17 125.72 1.00 117.13 12.63 12.1 Braskem BAK 13 21.43 10.82 21.21 7.67 56.6
AcornIntl ATV 7 11.11 3.90 8.00 2.56 47.1 BridgepntEdu BPI dd 10.93 5.38 10.13 2.52 33.1
Actuant ATU dd 29.80 20.48 25.95 1.99 8.3 15000 Briggs&Stratton BGG 33 24.48 15.47 22.26 4.96 28.7
AcuityBrands AYI 35 280.89 169.42 230.86 -2.94 -1.3 Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. BrightHorizons BFAM 42 72.80 59.00 70.02 3.22 4.8
Acushnet GOLF ... 22.31 16.90 19.71 1.76 9.8 BrinkerIntl EAT 15 55.84 43.30 49.53 1.58 3.3
Adecoagro AGRO dd 13.41 9.38 10.38 -1.91 -15.5 Brink's BCO cc 45.10 25.87 41.25 12.39 42.9
AdeptusHealth ADPT 1 73.44 7.55 7.64 -46.88 -86.0 Net Pct Net Pct Net Pct Bristol-Myers BMY 29 77.12 49.03 58.44 -10.35 -15.0
Adient ADNT ... 58.83 39.66 58.60 9.25 18.7 Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Bristow BRS dd 26.71 9.17 20.48 -5.42 -20.9
AdvanceAuto AAP 28 177.83 131.59 169.12 18.61 12.4 BrixmorProperty BRX 31 29.14 19.91 24.42 -1.40 -5.4
n AdvDisposalSvcs ADSW dd 22.41 18.32 22.22 2.22 11.1 Ameren AEE 20 54.08 41.50 52.46 9.23 21.4 Aramark ARMK 31 38.30 29.18 35.72 3.47 10.8 BHPBilliton BHP dd 40.20 18.46 35.78 10.02 38.9 BroadridgeFinl BR 26 71.74 48.56 66.30 12.57 23.4
AdvDrainageSys WMS 48 28.49 17.72 20.60 -3.43 -14.3 Ameresco AMRC 28 6.30 3.91 5.50 -0.75 -12.0 ArborRealty ABR 14 7.99 6.01 7.46 0.31 4.3 BHPBilliton BBL dd 35.83 16.36 31.46 8.81 38.9 BrookdaleSrLiving BKD dd 19.71 10.65 12.42 -6.04 -32.7
AdvSemiEngg ASX 15 6.23 4.39 5.04 -0.63 -11.1 AmericaMovil AMX 24 15.95 11.02 12.57 -1.49 -10.6 ArcLogisticsPtrs ARCX 24 16.07 8.66 15.93 2.66 20.0 BP BP dd 37.67 27.01 37.38 6.12 19.6 BrookfieldMgt BAM 12 36.25 25.68 33.01 2.02 6.5
AdvancePierre APFH ... 29.86 22.99 29.78 5.78 24.1 AmericaMovil A AMOV 23 15.93 10.83 12.30 -1.69 -12.1 ArcelorMittal MT dd 8.84 2.33 7.30 3.95 117.7 BP Prudhoe BPT 12 33.33 11.29 23.75 -1.19 -4.8 BrookfieldBusPtr BBU ... 31.02 18.01 24.06 -0.94 -3.8
AdvanSix ASIX ... 23.35 12.00 22.14 5.50 33.1 AmericanAssets AAT 61 46.38 34.07 43.08 4.73 12.3 n ArchCoal ARCH dd 86.47 59.05 78.05 15.05 23.9 BRF BRFS 31 18.12 11.05 14.76 0.94 6.8 BrookfieldCdaOff BOXC 10 24.35 16.22 19.65 0.64 3.4
AdvantageOil AAV cc 7.88 4.17 6.75 1.67 32.9 AmericanAxle AXL 6 19.74 11.44 19.30 0.36 1.9 ArcherDaniels ADM 17 47.88 29.86 45.65 8.97 24.5 BRT Realty BRT 7 8.25 5.41 8.19 1.85 29.2 BrookfieldInfr BIP 45 35.03 20.33 33.47 8.20 32.4
AegeanMarine ANW 11 13.10 5.00 10.15 1.79 21.4 AmCampus ACC 61 54.56 38.63 49.77 8.43 20.4 Archrock AROC dd 14.90 3.40 13.20 5.68 75.5 BT Group BT 11 36.04 21.61 23.03 -11.58 -33.5 BrookfieldPropPtr BPY 7 24.98 18.69 21.99 -1.25 -5.4
Aegon AEG 23 6.09 3.36 5.53 -0.14 -2.5 AmerEagle AEO 12 19.55 12.78 15.17 -0.33 -2.1 Arconic ARNC ... 25.92 13.84 18.54 -3.70 -16.6 BWX Tech BWXT 28 40.66 26.89 39.70 7.93 25.0 BrookfieldRenew BEP dd 31.85 20.36 29.70 3.52 13.4
AerCap AER 9 45.53 24.61 41.61 -1.55 -3.6 AEP AEP 68 71.32 56.75 62.96 4.69 8.0 ArcosDorados ARCO 17 6.60 2.16 5.40 2.29 73.6 Babcock&Wilcox BW dd 23.99 12.90 16.59 -4.28 -20.5 Brown&Brown BRO 25 45.62 28.41 44.86 12.76 39.8
AerohiveNtwks HIVE dd 7.45 4.08 5.70 0.59 11.5 AmEqtyLf AEL dd 23.65 12.65 22.54 -1.49 -6.2 ArdmoreShipping ASC 14 12.69 5.00 7.40 -5.32 -41.8 BadgerMeter BMI 34 39.36 26.40 36.95 7.66 26.1 Brown-Forman A BF/A 18 56.49 46.06 46.25 -8.80 -16.0
AerojetRocket AJRD cc 21.40 13.98 17.95 2.29 14.6 AmericanExpress AXP 13 75.74 50.27 74.08 4.53 6.5 AresCommRealEst ACRE 13 14.39 8.91 13.73 2.29 20.0 BakerHughes BHI dd 68.59 37.58 64.97 18.82 40.8 Brown-Forman B BF/B 17 51.71 43.82 44.92 -4.72 -9.5
Aetna AET 18 136.50 92.42 124.01 15.89 14.7 AmericanFin AFG 20 88.54 64.87 88.12 16.04 22.3 AresManagement ARES 23 19.54 10.72 19.20 6.27 48.5 Ball BLL 41 82.24 62.30 75.07 2.34 3.2 Brunswick BC 20 56.30 36.05 54.54 4.03 8.0
AffiliatedMgrs AMG 17 179.85 115.97 145.30 -14.46 -9.1 AmerHomes4Rent AMH dd 22.99 13.16 20.98 4.32 25.9 Argan AGX 19 75.35 28.03 70.55 38.15 117.7 BancofCalifornia BANC 10 23.23 10.93 17.35 2.73 18.7 BuckeyePtrs BPL 15 75.10 47.07 66.16 0.20 0.3
AgilentTechs A 32 48.63 34.15 45.56 3.75 9.0 AIG AIG cc 67.03 48.41 65.31 3.34 5.4 AristaNetworks ANET 42 98.90 52.51 96.77 18.93 24.3 BancoBilbaoViz BBVA 11 7.67 5.14 6.77 -0.56 -7.6 Buckle BKE 9 35.02 19.95 22.80 -7.98 -25.9
AgnicoEagle AEM 88 60.10 26.09 42.00 15.72 59.8 AIG Wt AIG/WS ... 24.81 15.50 23.46 -0.30 -1.3 ArlingtonAsset AI 18 17.13 9.42 14.82 1.59 12.0 BancoBradesco BBDO ... 10.15 3.77 8.85 4.10 86.5 Buenaventura BVN dd 16.45 3.30 11.28 7.00 163.6
AgreeRealty ADC 25 51.33 31.75 46.05 12.06 35.5 AmerMidstreamPtrs AMID dd 18.30 4.03 18.20 10.11 125.0 ArmadaHoffler AHH 15 15.50 9.76 14.57 4.09 39.0 BancodeChile BCH 14 72.79 54.98 70.45 12.34 21.2 Build-A-Bear BBW 11 15.85 10.01 13.75 1.51 12.3
Agrium AGU 15 109.73 79.94 100.55 11.21 12.5 AmRltyInv ARL dd 7.93 3.89 5.17 -0.45 -8.0 ArmourRes ARR dd 23.40 16.61 21.69 -0.07 -0.3 Bladex BLX 12 30.51 19.63 29.44 3.51 13.5 Bunge BG 17 74.00 46.08 72.24 3.96 5.8
AirLease AL 10 37.23 22.47 34.33 0.85 2.5 AmericanRenal ARA cc 29.65 16.86 21.28 -5.22 -19.7 ArmstrongFlooring AFI ... 21.00 11.77 19.91 7.10 55.4 BancoMacro BMA 7 83.18 52.88 64.35 6.23 10.7 BurlingtonStores BURL 33 91.67 41.41 84.75 41.85 97.6
AirProducts APD 21 150.45 105.99 143.82 23.53 19.6 AmerStWater AWR 28 47.24 37.28 45.56 3.61 8.6 ArmstrongWorld AWI 48 45.75 31.13 41.80 2.17 5.5 BancSanBrasil BSBR ... 9.12 3.02 8.89 5.00 128.5
Aircastle AYR 12 22.99 15.05 20.85 -0.04 -0.2 AmerTowerREIT AMT 53 118.26 83.07 105.68 8.73 9.0 ArrowElec ARW 13 73.15 45.23 71.30 17.12 31.6 BcoSantChile BSAC 16 23.50 15.69 21.87 4.23 24.0 C
AlamoGroup ALG 20 78.91 48.26 76.10 24.00 46.1 AmerVanguard AVD 47 20.00 9.63 19.15 5.14 36.7 ArtisanPtrsAsset APAM 18 35.54 23.65 29.75 -6.31 -17.5 BancoSantander SAN 12 5.25 3.60 5.18 0.31 6.4
AlamosGold AGI dd 10.41 2.27 6.84 3.55 107.9 AmerWaterWorks AWK 28 85.24 58.90 72.36 12.61 21.1 AsburyAutomotive ABG 10 67.34 43.56 61.70 -5.74 -8.5 BanColombia CIB 11 42.58 24.69 36.68 9.93 37.1 CACI Intl CACI 21 133.70 78.08 124.30 31.52 34.0
AlaskaAir ALK 12 91.89 54.51 88.73 8.22 10.2 Amerigas APU 47 50.11 32.36 47.92 13.65 39.8 AshfordHospPrime AHP 47 17.64 8.37 13.65 -0.85 -5.9 BancorpSouth BXS 25 31.75 18.69 31.05 7.06 29.4 CAI Intl CAI dd 10.49 4.83 8.67 -1.41 -14.0
AlbanyIntl AIN 20 49.50 30.53 46.30 9.75 26.7 Ameriprise AMP 15 119.32 76.00 110.94 4.52 4.2 AshfordHosp AHT dd 7.91 4.15 7.76 1.45 23.0 BankofAmerica BAC 18 23.39 10.99 22.10 5.27 31.3 CARBOCeramics CRR dd 24.20 5.66 10.46 -6.74 -39.2
Albemarle ALB 20 92.24 45.78 86.08 30.07 53.7 AmerisourceBrgn ABC 12 103.40 68.38 78.19 -25.52 -24.6 AshlandGlobal ASH dd 125.00 88.30 109.29 6.59 6.4 BankofAmWtA BAC/WS/A ... 11.15 3.01 9.95 4.13 71.0 CBD Pao CBD dd 19.50 8.00 16.55 6.03 57.3
Alcoa AA dd 32.35 20.00 28.08 5.58 24.8 Ametek AME 21 52.93 42.82 48.60 -4.99 -9.3 AspenAerogels ASPN dd 6.71 3.38 4.13 -1.94 -32.0 BankofAmWtB BAC/WS/B ... 1.29 0.06 0.96 0.69 255.6 CBIZ CBZ 19 14.05 9.30 13.70 3.84 38.9
Alere ALR dd 54.13 31.47 38.97 -0.12 -0.3 AmiraNatureFoods ANFI 7 14.09 5.82 6.15 -2.96 -32.5 AspenIns AHL 10 55.80 40.34 55.00 6.70 13.9 BankofButterfield NTB 24 32.90 23.75 31.44 6.69 27.0 CBL Assoc CBL cc 14.30 8.86 11.50 -0.87 -7.0
Alexander&Baldwin ALEX dd 46.43 28.82 44.87 9.56 27.1 Ampco-Pitt AP dd 19.22 8.88 16.75 6.49 63.3 AssociatedBanc ASB 21 25.43 15.45 24.70 5.95 31.7 BankofHawaii BOH 21 89.72 54.55 88.69 25.79 41.0 CBRE Group CBG 22 34.46 22.73 31.49 -3.09 -8.9
Alexanders ALX 25 451.99 350.03 426.87 42.76 11.1 Amphenol APH 27 69.19 44.50 67.20 14.97 28.7 AssocCapital AC 76 35.96 24.67 32.85 2.35 7.7 BankofMontreal BMO 10 73.88 47.54 71.92 15.50 27.5 CBS A CBS/A 18 66.99 46.86 64.82 12.70 24.4
AlexandriaRealEst ARE dd 114.67 70.69 111.13 20.77 23.0 AmplifySnack BETR 28 17.53 8.76 8.81 -2.71 -23.5 Assurant AIZ 10 94.40 64.36 92.86 12.32 15.3 BankNY Mellon BK 16 49.54 32.20 47.38 6.16 14.9 CBS B CBS 18 65.09 41.36 63.62 16.49 35.0
AlgonquinPwr AQN 21 9.62 7.15 8.48 0.60 7.6 Amrep AXR dd 8.14 3.66 7.42 3.07 70.6 AssuredGuaranty AGO 5 39.03 21.79 37.77 11.34 42.9 BkNovaScotia BNS 10 58.97 35.01 55.68 15.24 37.7 CDI CDI dd 8.40 4.31 7.40 0.64 9.5
Alibaba BABA 44 109.87 59.25 87.81 6.54 8.0 AnadarkoPetrol APC dd 73.33 28.16 69.73 21.15 43.5 AstoriaFnl AF 29 19.05 13.92 18.65 2.80 17.7 Bankrate RATE dd 13.12 6.59 11.05 -2.25 -16.9 CEB CEB 52 67.84 47.33 60.60 -0.79 -1.3
Alleghany Y 17 617.35 446.50 608.12 130.19 27.2 AnadarkoPeteUn AEUA ... 44.65 22.30 41.35 7.40 21.8 AstraZeneca AZN 30 35.04 25.55 27.32 -6.63 -19.5 BankUnited BKU 19 38.47 27.85 37.69 1.63 4.5 CF Industries CF cc 40.95 20.77 31.48 -9.33 -22.9
AlleghenyTechs ATI dd 19.20 7.08 15.93 4.68 41.6 AngloGoldAsh AU ... 22.91 7.09 10.51 3.41 48.0 n AtHomeGroup HOME 0 17.02 10.19 14.63 -0.37 -2.5 Barclays BCS dd 12.86 6.76 11.00 -1.96 -15.1 CGG CGG dd 73.60 11.91 14.14 -30.72 -68.5
Allegion ALLE 27 73.49 52.95 64.00 -1.92 -2.9 ABInBev BUD 45 136.08 98.28 105.44 -19.56 -15.6 Atento ATTO dd 10.31 6.77 7.65 -2.09 -21.5 Bard CR BCR 33 239.43 172.21 224.66 35.22 18.6 CGI Group GIB 14 50.58 36.04 48.03 8.00 20.0
Allergan AGN 6 310.83 184.50 210.01-102.49 -32.8 AnixterIntl AXE 30 84.05 37.60 81.05 20.66 34.2 n Athene ATH 5 48.50 43.25 47.99 3.94 8.9 Barnes&NobleEduc BNED dd 13.15 8.50 11.47 1.52 15.3 CIT Group CIT 20 43.96 25.18 42.68 2.98 7.5
Allete ALE 25 66.92 48.26 64.19 13.36 26.3 AnnalyCap NLY 91 11.29 8.25 9.97 0.59 6.3 n AtkoreIntl ATKR 24 24.34 14.17 23.91 7.91 49.4 Barnes&Noble BKS 86 13.63 7.25 11.15 2.44 28.0 CMS Energy CMS 20 46.25 34.96 41.62 5.54 15.4
AllianceData ADS 24 275.94 176.63 228.50 -48.07 -17.4 AnteroMidstream AM 27 31.39 17.00 30.88 8.06 35.3 AtlanticPower AT dd 2.75 1.58 2.50 0.53 26.9 BarnesGroup B 21 49.90 30.07 47.42 12.03 34.0 CNA Fin CNA 21 42.27 27.99 41.50 6.35 18.1
AllianceOne AOI 3 27.23 8.33 19.20 7.73 67.4 AnteroResources AR dd 30.66 19.00 23.65 1.85 8.5 AtmosEnergy ATO 22 81.97 60.00 74.15 11.11 17.6 BarracudaNtwks CUDA cc 26.69 9.44 21.43 2.75 14.7 CNH Indl CNHI ... 9.25 5.67 8.69 1.85 27.0
AllianceBernstein AB 12 24.69 16.11 23.45 -0.40 -1.7 Anthem ANTM 17 148.26 114.85 143.77 4.33 3.1 AtwoodOceanics ATW 3 15.37 4.82 13.13 2.90 28.3 BarrickGold ABX dd 23.47 7.38 15.98 8.60 116.5 CNO Financial CNO 13 20.55 14.30 19.15 0.06 0.3
AlliantEnergy LNT 25 40.99 30.38 37.89 6.67 21.3 AnthemUn ANTX ... 48.59 40.72 46.95 0.90 2.0 Autohome ATHM 17 33.70 19.32 25.28 -9.64 -27.6 BasicEnergySvcs BAS dd 44.75 29.36 35.35 -0.65 -1.8 CNOOC CEO dd 138.36 82.28 123.96 19.58 18.8
AlliedWorld AWH ... 54.00 30.29 53.71 16.52 44.4 AnworthMtg ANH 16 5.40 3.66 5.17 0.82 18.9 Autoliv ALV 17 126.31 93.31 113.15 -11.62 -9.3 BaxterIntl BAX 5 50.16 34.06 44.34 6.19 16.2 CNX Coal CNXC 23 22.30 5.98 18.25 8.98 96.9
AllisonTransm ALSN 34 35.76 20.56 33.69 7.80 30.1 Aon AON 21 116.59 83.83 111.53 19.32 21.0 AutoNation AN 13 59.22 39.28 48.65 -11.01 -18.5 BaytexEnergy BTE dd 7.14 1.08 4.88 1.64 50.6 CONE Midstream CNNX 15 24.24 7.55 23.55 13.70 139.1
Allstate ALL 20 74.77 56.03 74.12 12.03 19.4 Apache APA dd 69.00 32.20 63.47 19.00 42.7 AutoZone AZO 19 819.54 681.01 789.79 47.88 6.5 BeazerHomes BZH 95 15.80 6.07 13.30 1.81 15.8 CPFLEnergia CPL 27 15.61 6.38 15.40 8.16 112.8
AllyFinancial ALLY dd 20.60 14.55 19.02 0.38 2.0 ApartmtInv AIV cc 47.91 34.97 45.45 5.42 13.5 Avalonbay AVB 26 192.29 158.32 177.15 -6.98 -3.8 BectonDickinson BDX 37 181.75 129.50 165.55 11.46 7.4 CRH CRH 27 35.88 23.33 34.38 5.56 19.3
AlonUSAEnergy ALJ dd 15.09 5.86 11.38 -3.46 -23.3 ApolloComRlEst ARI 12 18.10 13.80 16.62 -0.61 -3.5 Avangrid AGR 24 46.74 35.42 37.88 -0.52 -1.4 Belden BDC 23 81.33 36.51 74.77 27.09 56.8 CSRA CSRA 45 32.84 20.98 31.84 1.84 6.1
AlonUSAPartners ALDW cc 23.14 7.63 9.60 -13.65 -58.7 ApolloGlobalMgmt APO 16 21.17 12.35 19.36 4.18 27.5 AveryDennison AVY 20 79.27 57.06 70.22 7.56 12.1 BellatrixExplor BXE dd 1.48 0.72 0.94 -0.27 -22.0 CSS Industries CSS 19 29.50 23.84 27.07 -1.31 -4.6
AltisourceResid RESI dd 12.80 7.81 11.04 -1.37 -11.0 AppleHospREIT APLE 42 20.65 16.35 19.98 0.01 0.1 AviancaHoldings AVH dd 10.91 3.40 9.64 5.37 125.8 Belmond BEL 46 14.05 7.31 13.35 3.85 40.5 CST Brands CST 11 48.43 29.73 48.15 9.01 23.0
Altria MO 25 70.14 56.15 67.62 9.41 16.2 AppliedIndlTechs AIT 72 62.65 35.55 59.40 18.91 46.7 Avista AVA 19 45.22 34.31 39.99 4.62 13.1 Bemis BMS 20 54.19 42.45 47.82 3.13 7.0 CTS CTS 61 24.80 12.87 22.40 4.76 27.0
AlumofChina ACH 30 11.78 6.87 10.21 1.97 23.9 Aptargroup ATR 24 81.50 66.33 73.45 0.80 1.1 Avnet AVT 14 51.50 37.10 47.61 4.77 11.1 BenchmarkElec BHE 18 31.20 18.36 30.50 9.83 47.6 CVR Energy CVI dd 38.98 12.03 25.39 -13.96 -35.5
AmberRoad AMBR dd 12.30 3.60 9.08 3.99 78.4 AquaAmerica WTR 25 35.83 28.03 30.04 0.24 0.8 AvonProducts AVP dd 6.96 2.21 5.04 0.99 24.4 Berkley WRB 15 66.91 47.54 66.51 11.76 21.5 CVR Partners UAN 25 9.75 4.05 6.01 -2.00 -25.0
Ambev ABEV 24 6.34 3.86 4.91 0.45 10.1 n AquaVenture WAAS dd 26.33 19.37 24.53 2.58 11.8 AxaltaCoating AXTA 62 30.45 20.67 27.20 0.55 2.1 BerkHathwy A BRK/A 17250786186900 244121 46321 23.4 CVR Refining CVRR dd 20.25 5.50 10.40 -8.53 -45.1
AxovantSciences AXON dd 18.33 8.86 12.42 -5.61 -31.1 BerkHathwy B BRK/B 17 167.25 123.55 162.98 30.94 23.4 CVS Health CVS 17 106.67 69.30 78.91 -18.86 -19.3
n AzurePowerGlbl AZRE ... 18.72 12.73 17.00 2.40 16.4 BerkshireHills BHLB 18 37.35 24.71 36.85 7.74 26.6 CYS Invts CYS 7 9.21 5.88 7.73 0.60 8.4
BerryPlastics BERY 26 51.68 27.79 48.73 12.55 34.7 Cabela's CAB 24 63.60 38.90 58.55 11.82 25.3
Explanatory Notes B BestBuy BBY 13 49.40 25.31 42.67 12.22 40.1 CableOne CABO 36 635.85 390.00 621.73 188.07 43.4
BigLots BIG 16 56.54 33.78 50.21 11.67 30.3 Cabot CBT 22 54.24 36.12 50.54 9.66 23.6
Sales figures are unofficial. CabotOil COG dd 26.74 14.88 23.36 5.67 32.1
B&G Foods BGS 25 52.84 31.81 43.80 8.78 25.1 Biglari BH 90 491.74 321.00 473.20 147.38 45.2
Adjusted for stock split in past year. The high-low range has been adjusted, and the adjustment is effective with the date of the BB&T BBT 17 47.85 29.95 47.02 9.21 24.4 BillBarrett BBG dd 9.38 2.19 6.99 3.06 77.9 CAE CAE 16 14.89 9.34 13.97 2.88 26.0
split. Net change is from previous years adjusted close. BBVABancoFr BFR 10 23.74 16.20 17.43 -1.65 -8.6 BioAmber BIOA dd 6.59 2.86 5.50 -0.68 -11.0 CalAtlantic CAA 12 40.94 26.97 34.01 -3.91 -10.3
n-Newstock listing in the past trailing 52-weeks; cc-P/E ratio of 100ormore; dd-Indicates loss in the most recent four quarters BCE BCE 14 49.03 35.96 43.24 4.62 12.0 BioAmberWt BIOA/WS ... 2.00 0.21 0.70 -0.71 -50.4 Continued on Page R6

Continued From Page R5 Net Pct Net Pct Net Pct Net Pct
Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg
Net Pct
Stock Sym PE Hi Lo Last Chg Chg Deere DE 21 104.83 70.16 103.04 26.77 35.1 FlotekIndustries FTK dd 16.93 4.89 9.39 -2.05 -17.9 IDEX IEX 25 95.76 67.20 90.06 13.45 17.6 Markel MKL 25 989.18 805.03 904.50 21.15 2.4
DelekLogistics DKL 13 35.25 21.30 28.55 -7.14 -20.0 FlowersFoods FLO 23 22.08 14.35 19.97 -1.52 -7.1 IllinoisToolWks ITW 22 127.99 79.15 122.46 29.78 32.1 MarriottVacations VAC 21 89.97 45.95 84.85 27.90 49.0
Caleres CAL 17 36.61 21.27 32.82 6.00 22.4 DelekUS DK dd 25.14 11.41 24.07 -0.53 -2.2 Flowserve FLS 42 52.50 33.86 48.05 5.97 14.2 Imation IMN dd 1.81 0.47 0.82 -0.55 -40.1 Marsh&McLennan MMC 21 69.77 50.81 67.59 12.14 21.9
CalgonCarbon CCC 31 18.80 12.70 17.00 -0.25 -1.4 n DellTechnologies DVMT ... 57.65 42.02 54.97 11.97 27.8 Fluor FLR 46 57.77 39.48 52.52 5.30 11.2 Imax IMAX 51 35.30 25.52 31.40 -4.14 -11.6 MartinMarietta MLM 35 236.41 108.31 221.53 84.95 62.2
CaliforniaRscs CRC dd 25.50 2.81 21.29 -2.01 -8.6 DelphiAutomotive DLPH 17 84.80 55.59 67.35 -18.38 -21.4 FlyLeasing FLY 8 14.45 9.54 13.30 -0.35 -2.6 IndependenceContr ICD dd 7.30 3.33 6.70 1.65 32.7 Masco MAS 23 37.38 23.10 31.62 3.32 11.7
CalWtrSvc CWT 39 36.85 22.48 33.90 10.63 45.7 DeltaAir DAL 8 52.76 32.60 49.19 -1.50 -3.0 FomentoEconMex FMX 24 100.57 74.29 76.21 -16.14 -17.5 IndependenceHldg IHC 3 21.23 13.16 19.55 5.70 41.2 MasoniteIntl DOOR 30 72.75 45.14 65.80 4.57 7.5
Calix CALX dd 8.20 5.64 7.70 -0.17 -2.2 DelticTimber DEL cc 80.06 50.84 77.07 18.20 30.9 FootLocker FL 15 79.43 50.90 70.89 5.80 8.9 IndustrsBachoco IBA 13 56.10 40.43 49.02 -0.21 -0.4 MasTec MTZ cc 40.90 12.44 38.25 20.87 120.1
CallawayGolf ELY 30 12.56 8.00 10.96 1.54 16.3 Deluxe DLX 15 73.42 49.46 71.61 17.07 31.3 FordMotor F 6 14.22 11.02 12.13 -1.96 -13.9 Infosys INFY 16 20.47 13.74 14.83 -1.92 -11.5 Mastercard MA 29 108.93 78.52 103.25 5.89 6.0
CallonPetrol CPE dd 18.53 4.21 15.37 7.03 84.3 DenburyRscs DNR dd 4.80 0.86 3.68 1.66 82.2 ForesightEnergy FELP dd 8.33 1.07 6.47 2.94 83.3 InfraREIT HIFR 16 21.69 13.61 17.91 -0.59 -3.2 MatadorResources MTDR dd 27.71 11.13 25.76 5.99 30.3
Calpine CPN cc 16.49 10.39 11.43 -3.04 -21.0 DeutscheBank DB dd 23.62 11.19 18.10 -6.05 -25.1 ForestCIty A FCE/A 65 24.22 16.43 20.84 -1.09 -5.0 Ingersoll-Rand IR 13 79.21 47.08 75.04 19.75 35.7 Materion MTRN 31 41.23 20.62 39.60 11.60 41.4
Cambrex CBM 29 59.41 29.50 53.95 6.86 14.6 DevonEnergy DVN dd 50.69 18.07 45.67 13.67 42.7 ForestCity B FCE/B 84 28.41 16.59 26.93 5.06 23.1 n Ingevity NGVT ... 55.43 22.00 54.86 31.36 133.4 Matson MATX 18 43.24 28.79 35.39 -7.24 -17.0
CamdenProperty CPT 17 90.91 69.76 84.07 7.31 9.5 DeVry DV cc 32.85 15.36 31.20 5.89 23.3 Forestar FOR cc 14.05 7.95 13.30 2.36 21.6 Ingredion INGR 19 140.00 84.57 124.96 29.12 30.4 MauiLand MLP 10 7.97 4.73 7.20 1.74 31.9
Cameco CCJ 58 13.59 7.41 10.47 -1.86 -15.1 Diageo DEO 20 117.84 99.46 103.94 -5.13 -4.7 Fortis FTS 16 34.66 24.63 30.88 3.98 14.8 n InnovativeIndProp IIPR ... 20.52 14.50 18.19 -0.96 -5.0 Maximus MMS 21 61.68 43.69 55.79 -0.46 -0.8
CampbellSoup CPB 29 67.89 50.54 60.47 7.92 15.1 DiamondOffshore DO dd 26.72 14.18 17.70 -3.40 -16.1 Fortive FTV ... 56.24 43.00 53.63 10.63 24.7 Inphi IPHI dd 48.46 22.07 44.62 17.60 65.1 MaxLinear MXL 35 23.07 12.67 21.80 7.07 48.0
CampingWorld CWH ... 33.59 20.45 32.59 10.09 44.8 DiamndrckHspty DRH 20 11.61 7.28 11.53 1.88 19.5 FortressInvt FIG 24 5.49 3.87 4.86 -0.23 -4.5 Insperity NSP 25 82.18 41.83 70.95 22.80 47.4 McClatchy MNI dd 19.77 8.25 13.18 1.08 8.9
CIBC CM 8 85.66 56.29 81.60 15.73 23.9 DianaShipping DSX dd 4.97 1.95 3.02 -1.33 -30.6 FortressTransport FTAI dd 13.95 8.65 13.30 2.04 18.1 InstalledBldg IBP 35 44.30 17.60 41.30 16.47 66.3 McCormick MKC 26 107.84 78.45 93.33 7.77 9.1
CanNtlRlwy CNI 15 70.00 46.23 67.40 11.52 20.6 Dick's DKS 18 62.88 33.44 53.10 17.75 50.2 FortunaSilver FSM dd 9.75 2.00 5.65 3.40 151.1 Instructure INST dd 26.92 13.21 19.55 -1.27 -6.1 McCormickVtg MKC/V 26 108.26 79.01 93.10 6.73 7.8
CanNaturalRes CNQ dd 35.28 14.41 31.88 10.34 48.0 DieboldNixdorf DBD 18 29.80 21.05 25.15 -4.94 -16.4 FortBrandsHome FBHS 22 64.47 44.19 53.46 -2.04 -3.7 IntegerHoldings ITGR dd 47.74 18.10 29.45 -18.38 -38.4 McDermottIntl MDR cc 8.21 2.20 7.39 4.04 120.6
CanPacRlwy CP 15 157.34 97.09 142.77 15.17 11.9 DigitalRealty DLR 69 113.21 69.89 98.26 22.64 29.9 ForumEnergyTech FET dd 24.55 8.47 22.00 9.54 76.6 Intelsat I 1 4.50 1.44 2.67 -1.49 -35.8 McDonalds MCD 23 131.96 110.33 121.72 3.58 3.0
Canon CAJ 20 30.93 26.60 28.14 -1.99 -6.6 DigitalGlobe DGI 46 33.05 11.80 28.65 12.99 83.0 FourCornersProp FCPT ... 24.00 14.09 20.52 -3.64 -15.1 ICE ICE 23 59.86 45.44 56.42 5.17 10.1 McEwenMining MUX 97 4.92 0.96 2.91 1.85 174.5
CantelMedical CMD 51 88.81 55.01 78.75 16.61 26.7 Dillard's DDS 11 88.58 54.37 62.69 -3.02 -4.6 Franco-Nevada FNV 88 81.16 41.47 59.76 14.01 30.6 InterContinentl IHG 9 50.51 34.63 44.33 -2.16 -4.6 McKesson MCK 16 199.43 114.53 140.45 -56.78 -28.8
CapitalOneWt COF/WS ... 49.25 18.84 45.19 13.84 44.1 DineEquity DIN 14 98.82 75.05 77.00 -7.67 -9.1 Frank'sIntl FI dd 17.73 10.47 12.31 -4.38 -26.2 IBM IBM 14 169.95 116.90 165.99 28.37 20.6 MeadJohnson MJN 26 94.40 65.53 70.76 -8.19 -10.4
CapitalOne COF 12 91.64 58.02 87.24 15.06 20.9 DiplomatPharmacy DPLO 26 38.94 12.47 12.60 -21.62 -63.2 FranklinCovey FC 40 22.45 13.45 20.15 3.41 20.4 IntlFlavors IFF 24 143.64 97.24 117.83 -1.81 -1.5 Mechel MTL ... 6.74 1.23 5.73 4.09 250.3
CapitalSrLiving CSU dd 20.85 12.65 16.05 -4.81 -23.1 DiscoverFinSvcs DFS 13 73.62 42.86 72.09 18.47 34.4 FranklinFin FSB 19 42.80 22.83 41.85 10.47 33.4 IntlGameTech IGT 98 32.07 12.48 25.52 9.34 57.7 MedEquitiesRealty MRT cc 12.05 10.28 11.10 -0.49 -4.2
CapsteadMtg CMO 12 10.58 7.48 10.19 1.45 16.6 Disney DIS 18 106.75 86.25 104.22 -0.86 -0.8 FranklinRscs BEN 13 42.18 30.56 39.58 2.76 7.5 IntlPaper IP 25 54.68 32.50 53.06 15.36 40.7 MediaGeneral MEG dd 19.28 14.81 18.83 2.68 16.6
CardinalHealth CAH 17 89.97 62.70 71.97 -17.30 -19.4 DolbyLab DLB 25 55.02 30.38 45.19 11.54 34.3 Freeport-McMoRan FCX dd 16.42 3.52 13.19 6.42 94.8 IntlSeaways INSW ... 16.69 9.00 14.04 4.14 41.8 MedicalProp MPW 13 15.91 9.61 12.30 0.79 6.9
CareCapProps CCP 18 31.75 22.70 25.00 -5.57 -18.2 DollarGeneral DG 17 96.88 66.50 74.07 2.20 3.1 FreseniusMed FMS 21 47.52 38.05 42.21 0.37 0.9 InterOil IOC dd 51.49 21.18 47.58 16.16 51.4 Medifast MED 28 43.15 27.12 41.63 11.25 37.0
Care.com CRCM cc 12.00 4.90 8.57 1.41 19.7 DominionDiamond DDC dd 12.65 7.92 9.68 -0.55 -5.4 FreshDelMonte FDP 22 66.86 36.68 60.63 21.75 55.9 Interpublic IPG 17 24.82 19.79 23.41 0.13 0.6 MedleyMgmt MDLY cc 10.65 3.43 9.90 4.21 74.0
Carlisle CSL 28 116.40 75.17 110.29 21.60 24.4 DominionMidstream DM 25 35.88 23.12 29.55 -1.11 -3.6 Frontline FRO 7 14.75 6.80 7.11 -7.84 -52.4 InterXion INXN 54 38.85 26.75 35.07 4.92 16.3 Mednax MD 18 76.96 59.36 66.66 -5.00 -7.0
CarMax KMX 20 66.64 41.25 64.39 10.42 19.3 DominionRscs D 23 78.97 66.25 76.59 8.95 13.2 FullerHB FUL 22 50.92 32.49 48.31 11.84 32.5 IntraLinks IL dd 13.72 6.22 13.52 4.45 49.1 Medtronic MDT 24 89.27 71.03 71.23 -5.69 -7.4
Carnival CCL 14 54.90 40.52 52.06 -2.42 -4.4 DominionRscsUn DCUC ... 53.00 47.32 50.06 1.98 4.1 FutureFuel FF 9 16.58 9.77 13.90 0.40 3.0 IntrawestResorts SNOW 21 19.32 6.95 17.85 10.03 128.3 Merck MRK 30 65.46 47.97 58.87 6.05 11.5
Carnival CUK 14 57.27 42.45 51.19 -5.73 -10.1 n DominionRscsUn DCUD ... 52.00 47.26 50.60 0.23 0.5 IntrepidPotash IPI dd 3.26 0.65 2.08 -0.87 -29.5 MercuryGeneral MCY 27 61.19 42.97 60.21 13.64 29.3
CarpenterTech CRS
CarriageSvcs CSV
dd 42.27
24 29.11
23.99 36.17 5.90
19.03 28.64 4.54
19.5
18.8
Domino's DPZ
UFS
40 172.62 101.01 159.24 47.99 43.1 G Intrexon XON dd 40.24 18.52 24.30 -5.85 -19.4 Meredith MDP 48 59.70 35.03 59.15 15.90 36.8
Domtar 18 42.95 29.88 39.03 2.08 5.6 Invacare IVC dd 17.25 8.00 13.05 -4.34 -25.0 MeritageHomes MTH 10 41.22 25.48 34.80 0.81 2.4
Carters CRI 18 112.58 83.44 86.39 -2.64 -3.0 Donaldson DCI 27 46.29 25.21 42.08 13.42 46.8 GAIN Capital GCAP 11 7.98 4.54 6.58 -1.53 -18.9 InvenSense INVN dd 12.92 5.42 12.79 2.56 25.0 Meritor MTOR 2 13.38 5.69 12.42 4.07 48.7
CastlightHealth CSLT dd 5.50 2.54 4.95 0.68 15.9 DonnelleyFin DFIN ... 29.00 18.02 22.98 -0.27 -1.2 GAMCO Investors GBL 9 41.67 25.95 30.89 -0.15 -0.5 InvescoMtg IVR 30 16.28 9.74 14.60 2.21 17.8 MesaRoyalty MTR 20 12.85 5.64 10.90 3.40 45.3
Catalent CTLT 33 32.24 18.92 26.96 1.93 7.7 DorianLPG LPG 7 12.35 5.07 8.21 -3.56 -30.2 GATX GATX 9 64.46 33.53 61.58 19.03 44.7 InvestmentTech ITG 14 22.92 14.95 19.74 2.72 16.0 MesabiTrust MSB 18 11.74 3.00 10.70 6.18 136.7
CatchMarkTimber CTT dd 12.58 9.70 11.26 -0.05 -0.4 DouglasDynamics PLOW 17 34.75 16.89 33.65 12.58 59.7 GCPAppliedTechs GCP 25 30.12 14.47 26.75 6.75 33.8 InvRlEst IRET 43 7.51 5.60 7.13 0.18 2.6 MetaldynePerform MPG 16 23.00 10.87 22.95 4.61 25.1
Caterpillar CAT 54 97.40 56.36 92.74 24.78 36.5 DouglasEmmett DEI 70 39.25 24.73 36.56 5.38 17.3 GEO Group GEO 19 36.00 16.26 35.93 7.02 24.3 Invitae NVTA dd 11.85 5.66 7.94 -0.27 -3.3 MethodeElec MEI 18 44.05 23.83 41.35 9.52 29.9
Cato CATO 12 40.51 28.40 30.08 -6.74 -18.3 Dover DOV 24 78.27 50.91 74.93 13.62 22.2 GMS GMS cc 30.35 19.28 29.28 7.37 33.6 IronMountain IRM cc 41.50 23.64 32.48 5.47 20.3 MetLife MET 17 58.09 35.00 53.89 5.68 11.8
CedarFairRec FUN 23 64.90 48.46 64.20 8.36 15.0 DoverDowns DDE 21 1.21 0.82 1.03 0.06 6.1 GNC Holdings GNC 4 35.90 10.29 11.04 -19.98 -64.4 IsraelChemicals ICL dd 5.02 3.52 4.11 0.06 1.5 MettlerToledo MTD 31 434.50 291.32 418.56 79.43 23.4
CedarRealty CDR dd 8.08 5.92 6.53 -0.55 -7.8 DoverMotorsports DVD 19 2.54 1.93 2.30 -0.03 -1.3 GOLLinhas GOL dd 27.08 2.44 13.62 7.89 137.7 iStar STAR dd 12.83 7.58 12.37 0.64 5.5 MichaelKors KORS 10 59.49 34.83 42.98 2.92 7.3
Celadon CGI 18 12.03 4.85 7.15 -2.74 -27.7 DowChemical DOW 9 59.33 40.26 57.22 5.74 11.1 GP Strategies GPX 24 30.00 19.59 28.60 3.49 13.9 ItauCorpBanca ITCB 36 14.43 10.58 12.44 0.74 6.3 MidAmApt MAA 34 110.01 82.91 97.92 7.11 7.8
Celanese A CE 26 84.97 55.07 78.74 11.41 16.9 DrPepperSnap DPS 20 98.80 81.05 90.67 -2.53 -2.7 GTT Comm GTT 31 29.75 12.31 28.75 11.69 68.5 ItauUnibanco ITUB 11 12.19 4.98 10.28 4.36 73.7 MidcoastEnergy MEP dd 10.09 3.76 7.05 -2.67 -27.5
Celestica CLS 10 12.59 8.07 11.85 0.82 7.4 DrReddy'sLab RDY 46 54.73 40.67 45.28 -1.01 -2.2 Gafisa GFA dd 1.99 0.95 1.11 -0.02 -1.8 MidSouthBncp MSL 22 14.50 6.51 13.60 4.52 49.8
CellcomIsrael CEL
CementosPacasm CPAC
5 8.60
21 10.30
5.70 7.93 1.73
5.62 9.21 1.56
27.9
20.4
DrewIndustries DW
Dril-Quip DRQ
22
16
113.65
69.40
51.66 107.75
46.90 60.05
46.86
0.82
77.0
1.4
Gallagher
GameStop
AJG
GME
24 52.34
7 33.72
35.96 51.96
20.10 25.26
11.02
-2.78
26.9
-9.9
J Milacron MCRN
MillerIndustries MLR
29 19.32 11.56 18.63
15 28.85 18.93 26.45
6.12
4.67
48.9
21.4
Cemex CX 17 9.35 3.50 8.03 2.67 49.9 DriveShack DS 3 4.88 2.55 3.76 -0.32 -7.8 Gannett GCI 30 17.72 7.30 9.71 -6.58 -40.4 MineralsTechs MTX 24 83.20 35.89 77.25 31.39 68.4
Cencosud CNCO 13 10.13 5.30 8.40 2.22 35.9 J Alexander's JAX 25 11.03 8.35 10.75 -0.17 -1.6
DuPont DD 32 75.86 50.71 73.40 6.80 10.2 Gap GPS 13 30.74 17.00 22.44 -2.26 -9.1 JMP JMP cc 6.48 4.95 6.14 0.68 12.5 MistrasGroup MG 31 26.47 18.55 25.68 6.59 34.5
CenovusEnergy CVE dd 16.82 9.10 15.13 2.51 19.9 Ducommun DCO dd 29.99 12.28 25.56 9.34 57.6 Gartner IT 46 105.45 77.80 101.07 10.37 11.4 MitsubishiUFJ MTU 11 6.70 3.86 6.16 -0.06 -1.0
Centene CNC 22 75.57 47.36 56.51 -9.30 -14.1 JP Energy JPEP dd 10.19 1.89 10.12 5.20 105.7
DukeEnergy DUK 19 87.31 70.16 77.62 6.23 8.7 GasLog GLOG dd 17.20 5.24 16.10 7.80 94.0 JPMorganChase JPM 15 87.39 52.50 86.29 20.26 30.7 MiXTelematics MIXT 20 6.85 3.33 6.19 1.97 46.7
CenterPointEner CNP dd 24.98 16.38 24.64 6.28 34.2 DukeRealty DRE 33 28.99 18.52 26.56 5.54 26.4 GasLogPartners GLOP 9 22.00 9.57 20.55 6.33 44.5 MizuhoFin MFG 8 4.05 2.69 3.59 -0.45 -11.1
CentraisElBras EBR 31 7.70 1.12 6.86 5.50 404.4 JPMorganWt JPM/WS ... 45.65 14.23 44.27 20.58 86.9
D&B DNB 46 141.56 85.99 121.32 17.39 16.7 Gazit-Globe GZT 3 10.97 7.15 8.64 -0.34 -3.8 JabilCircuit JBL 21 25.14 16.78 23.67 0.38 1.6 MobileTeleSys MBT 14 9.66 5.14 9.11 2.93 47.4
CentralPacFin CPF 22 31.99 18.47 31.42 9.40 42.7 DupontFabros DFT dd 48.97 28.83 43.93 12.14 38.2 GencoShipping GNK dd 17.40 3.62 7.38 -7.52 -50.5 Mobileye MBLY 98 51.15 23.57 38.12 -4.16 -9.8
CenturyComm CCS 9 21.85 13.11 21.00 3.29 18.6 JacobsEngineering JEC 33 63.42 34.76 57.00 15.05 35.9
DycomInds DY 17 98.45 47.10 80.29 10.33 14.8 Gener8Maritime GNRT 3 9.49 3.52 4.48 -4.97 -52.6 JamesHardie JHX 36 17.30 10.19 15.90 3.23 25.5 ModelN MODN dd 13.98 6.97 8.85 -2.31 -20.7
CenturyLink CTL 14 33.45 21.94 23.78 -1.38 -5.5 DynagasLNG DLNG 9 16.25 6.70 15.98 6.28 64.7 Generac GNRC 41 43.68 26.29 40.74 10.97 36.8 ModineMfg MOD 35 16.35 5.38 14.90 5.85 64.6
Cenveo CVO 1 10.50 2.31 6.99 0.02 0.3 JanusCapital JNS 15 16.62 11.07 13.27 -0.82 -5.8
Dynegy DYN dd 22.01 7.01 8.46 -4.94 -36.9 GeneralCable BGC dd 20.80 6.21 19.05 5.62 41.8 JerniganCapital JCAP 12 22.02 10.10 21.05 6.10 40.8 Moelis MC 23 35.50 21.91 33.90 4.72 16.2
ChannelAdvisor ECOM dd 15.91 10.28 14.35 0.50 3.6 DynegyUn DYNC ... 113.10 57.44 62.14 -38.86 -38.5 GeneralDynamics GD 18 180.09 121.61 172.66 35.30 25.7 MohawkIndustries MHK 17 216.58 148.56 199.68 10.29 5.4
CharlesRiverLabs CRL 26 89.18 65.70 76.19 -4.20 -5.2 JinkoSolar JKS 3 27.43 12.72 15.23 -12.44 -45.0
DynegyWt DYN/WS ... 0.70 0.04 0.04 -0.43 -91.3 GeneralElec GE 25 33.00 27.10 31.60 0.45 1.4 JohnBeanTech JBT 39 93.55 41.35 85.95 36.12 72.5 MolinaHealthcare MOH 24 67.87 44.50 54.26 -5.87 -9.8
ChathamLodging CLDT 24 24.80 16.12 20.55 0.07 0.3 DynexCapital DX dd 7.61 5.22 6.82 0.47 7.4 GeneralGrowthProp GGP 19 32.10 23.89 24.98 -2.23 -8.2 MolsonCoors A TAP/A 36 110.17 81.97 97.94 4.25 4.5
CheetahMobile CMCM dd 18.19 8.77 9.56 -6.46 -40.3 J&J JNJ 20 126.07 94.28 115.21 12.49 12.2
GeneralMills GIS 23 72.95 53.53 61.77 4.11 7.1 JohnsonControls JCI dd 46.17 27.12 41.19 11.31 37.8 MolsonCoors B TAP 36 112.19 80.78 97.31 3.39 3.6
Chegg
Chemed
CHGG
CHE
dd 8.57
26 164.07
3.15 7.38 0.65
124.77 160.41 10.61
9.7
7.1 E GeneralMotors GM
GeneralMotorsWt19 GM/WS/B
4 37.74 26.69 34.84 0.83 2.4 JonesEnergy JONE dd 5.34 1.16 5.00 1.15 29.9 MonmouthRealEst MNR 48 15.36 9.63 15.24 4.78 45.7
... 19.85 9.52 17.16 0.87 5.3 JonesLangLaSalle JLL 13 160.33 86.62 101.04 -58.82 -36.8 MonogramResident MORE dd 10.90 7.67 10.82 1.06 10.9
Chemours CC 27 27.29 3.06 22.09 16.73 312.1 ECA Marcellus ECT 11 2.59 0.93 2.15 0.64 42.4 Genesco GCO 13 74.21 47.66 62.10 5.27 9.3 Monsanto MON 35 114.26 83.73 105.21 6.69 6.8
Chemtura CHMT 78 33.35 23.50 33.20 5.93 21.7 JoyGlobal JOY dd 28.55 8.35 28.00 15.39 122.0
elfBeauty ELF dd 32.54 23.73 28.94 2.44 9.2 Genesee&Wyoming GWR 19 80.73 41.56 69.41 15.72 29.3 JumeiIntl JMEI ... 9.14 3.80 5.01 -4.05 -44.7 Moody's MCO 20 110.83 77.76 94.27 -6.07 -6.0
CherryHillMtg CHMI 17 18.95 12.60 18.19 5.19 39.9 EllieMae ELLI 85 109.98 57.88 83.68 23.45 38.9 GenesisEnergy GEL 34 40.90 19.55 36.02 -0.72 -2.0 Moog A MOG/A 19 73.05 38.11 65.68 5.08 8.4
ChesapeakeEner CHK dd 8.20 1.50 7.02 2.52 56.0 JuniperNetworks JNPR 18 29.21 21.18 28.26 0.66 2.4
EMCOR EME 23 73.44 40.98 70.76 22.72 47.3 GenesisHealthcare GEN dd 4.44 1.38 4.25 0.78 22.5 JupaiHoldings JP 11 10.18 7.49 8.71 -1.41 -13.9 Moog B MOG/B 19 71.81 38.32 66.16 5.47 9.0
ChesapeakeGranite CHKR 5 3.83 1.56 2.35 -0.67 -22.2 ENI E dd 33.38 24.73 32.24 2.44 8.2 GenieEnergy GNE dd 11.02 5.07 5.75 -5.40 -48.4 MorganStanley MS 17 44.04 21.16 42.25 10.44 32.8
ChesapeakeLodging CHSP 22 27.18 20.81 25.86 0.70 2.8 JustEnergy JE 3 7.11 4.86 5.46 -1.66 -23.3
ENSCO ESV dd 16.10 6.50 9.72 -5.67 -36.8 Genpact G 20 28.52 22.58 24.34 -0.64 -2.6 Mosaic MOS 23 31.54 22.02 29.33 1.74 6.3
ChesapeakeUtil CPK 25 70.00 52.25 66.95 10.20 18.0
Chevron CVX dd 119.00 75.33 117.70 27.74 30.8
EOG Rscs
EPAM Systems EPAM
EOG dd 109.37
33 78.40
57.15 101.10
54.53 64.31
30.31
-14.31
42.8
-18.2
GenuineParts GPC
GenworthFin GNW
21 105.97
dd 5.27
76.50 95.54
1.57 3.81
9.65
0.08
11.2
2.1 K MotorolaSolutions MSI
Movado MOV
24 87.55 59.13 82.89
18 31.95 19.14 28.75
14.44
3.04
21.1
11.8
ChicagoB&I CBI 12 41.33 26.12 31.75 -7.24 -18.6 EP Energy EPE dd 7.49 1.60 6.55 2.17 49.5 GeoPark GPRK dd 5.42 1.90 4.31 1.61 59.6 MuellerIndustries MLI 24 41.27 23.09 39.96 12.86 47.5
Chico'sFas CHS 34 16.85 9.61 14.39 3.72 34.9 KAR Auction KAR 26 44.10 31.54 42.62 5.59 15.1
EPR Prop EPR 23 84.67 53.00 71.77 13.32 22.8 Gerdau GGB dd 4.30 0.79 3.14 1.94 161.7 KB Fin KB 8 38.56 22.84 35.29 7.42 26.6 MuellerWater MWA 34 14.20 7.52 13.31 4.71 54.8
ChimeraInvt CIM 7 17.72 10.89 17.02 3.38 24.8 EQT EQT dd 80.61 48.30 65.40 13.27 25.5 GettyRealty GTY 17 25.63 16.21 25.49 8.34 48.6 MultiPkgSolns MPSX cc 17.84 11.00 14.26 -3.09 -17.8
ChinaCordBlood CO 32 6.43 4.27 6.12 -0.25 -3.9 KB Home KBH 14 17.38 9.04 15.81 3.48 28.2
EQT GP EQGP 34 27.74 17.64 25.21 4.45 21.4 Gigamon GIMO 37 61.25 21.23 45.55 18.98 71.4 KBR KBR 34 17.95 11.61 16.69 -0.23 -1.4 MurphyOil MUR dd 37.48 14.30 31.13 8.68 38.7
ChinaDigitalTV STV 75 1.75 1.11 1.46 -0.28 -16.1 EQT Midstream EQM 15 80.63 57.88 76.68 1.22 1.6 Gildan GIL 12 32.20 22.43 25.37 -3.05 -10.7 MurphyUSA MUSA 12 80.44 51.68 61.47 0.73 1.2
ChinaDistanceEd DL 15 15.46 8.97 11.18 -3.51 -23.9 KCG Holdings KCG 21 15.70 10.03 13.25 0.94 7.6
ESCO Tech ESE 32 58.75 31.50 56.65 20.51 56.8 Glatfelter GLT 15 25.49 14.09 23.89 5.45 29.6 KKR KKR 59 17.57 10.89 15.39 -0.20 -1.3 MyersIndustries MYE cc 15.86 10.12 14.30 0.98 7.4
ChinaEastrnAir CEA 7 31.59 20.93 22.35 -5.79 -20.6 EXCO Res XCO dd 1.94 0.51 0.87 -0.37 -29.5 Glaukos GKOS cc 39.82 14.25 34.30 9.61 38.9 MyovantSciences MYOV ... 15.50 10.25 12.44 -0.82 -6.2
ChinaGreenAg CGA 2 1.68 1.10 1.20 -0.33 -21.6 KMG Chem KMG 25 40.07 19.57 38.89 15.87 68.9
EagleMaterials EXP 25 103.16 45.02 98.53 38.10 63.0 GlaxoSmithKline GSK cc 45.58 37.20 38.51 -1.84 -4.6 KT KT 16 16.79 10.81 14.09 2.18 18.3
ChinaLifeIns LFC
ChinaMobile CHL
34 15.28
13 63.89
10.07 12.87 -3.12
50.12 52.43 -3.90
-19.5
-6.9
EasterlyGovtProp DEA
EastGroup EGP
cc 20.82
26 76.00
16.41 20.02
49.31 73.84
2.84
18.23
16.5
32.8
GlobalBrass BRSS
GlobalMedREIT GMRE
26 35.75
dd 11.38
18.65 34.30
6.73 8.92
13.00
-1.09
61.0
-10.9
K12 LRN 82 17.84 7.11 17.16 8.36 95.0 N
ChinaNewBorun BORN 2 1.90 1.18 1.34 -0.12 -8.2 Kadant KAI 20 64.75 33.38 61.20 20.59 50.7
EastmanChem EMN 13 78.79 56.03 75.21 7.70 11.4 GlobalNetLease GNL 31 8.97 5.77 7.83 -0.12 -1.5 Kadmon KDMN ... 11.73 4.13 5.35 -4.35 -44.8 NACCO Inds NC 26 99.55 40.75 90.55 48.35 114.6
n ChinaOnlineEduc COE ... 25.24 12.45 15.55 -3.45 -18.2 EastmanKodak KODK 23 17.30 7.56 15.50 2.96 23.6 GlobalPtnrs GLP dd 19.95 12.28 19.45 1.88 10.7 NCI BuildingSys NCS 22 18.10 9.07 15.65 3.24 26.1
ChinaPetrol SNP 16 77.93 48.28 71.02 11.04 18.4 Kaman KAMN 26 50.94 37.13 48.93 8.12 19.9
EastmanKodakWt KODK/WS ... 5.12 0.98 3.90 1.13 40.8 GlobalPayments GPN 36 79.93 51.29 69.41 4.90 7.6 KSCitySouthern KSU 19 100.69 62.20 84.85 10.18 13.6 NCR NCR 27 42.07 18.02 40.56 16.10 65.8
ChinaSoAirlines ZNH 6 36.29 25.14 25.71 -12.44 -32.6 EastmanKodakWt KODK/WS/A ... 4.35 1.03 2.82 0.99 54.1 GlobalShipLease GSL dd 4.50 1.02 1.50 -1.10 -42.3 NGL Energy NGL dd 21.50 5.57 21.00 9.96 90.2
ChinaTelecom CHA 12 55.85 42.23 46.13 -0.32 -0.7 KapStonePaper KS 27 23.13 8.95 22.05 -0.54 -2.4
Eaton ETN 16 70.00 46.19 67.09 15.05 28.9 Globant GLOB 34 47.19 22.50 33.35 -4.16 -11.1 KateSpade KATE 19 26.46 14.02 18.67 0.90 5.1 NL Industries NL cc 9.60 1.92 8.15 5.11 168.1
ChinaUnicom CHU 35 13.26 9.89 11.55 -0.51 -4.2 EatonVance EV 20 43.87 26.44 41.88 9.45 29.1 GlobusMedical GMED 20 27.64 19.25 24.81 -3.01 -10.8 NOW DNOW dd 23.53 12.03 20.47 4.65 29.4
ChinaXiniyaFash XNY ... 3.65 0.81 1.31 -0.47 -26.4 Kellogg K 37 87.16 68.73 73.71 1.44 2.0
EclipseResources ECR dd 4.42 0.65 2.67 0.85 46.7 GoDaddy GDDY dd 37.40 23.88 34.95 2.89 9.0 Kemet KEM dd 6.99 1.26 6.63 4.26 179.7 NQ Mobile NQ dd 5.35 3.03 3.22 -0.42 -11.5
ChinaYuchai CYD 10 13.98 8.49 13.81 3.05 28.3 Ecolab ECL 33 124.60 98.62 117.22 2.84 2.5 GoldFields GFI ... 6.60 2.60 3.01 0.24 8.7 NRG Energy NRG dd 18.32 8.92 12.26 0.49 4.2
ChinaZenixAuto ZX dd 1.59 0.43 1.20 0.41 51.8 Kemper KMPR dd 45.95 23.51 44.30 7.05 18.9
Ecopetrol EC dd 10.29 5.16 9.05 2.04 29.1 Goldcorp GG dd 20.38 9.46 13.60 2.04 17.6 Kennametal KMT dd 35.66 15.11 31.26 12.06 62.8 NRG Yield A NYLD/A 22 17.78 9.83 15.36 1.45 10.4
Chipotle CMG cc 542.50 352.96 377.32 -102.53 -21.4 EdgewellPersonal EPC 24 88.00 67.94 72.99 -5.38 -6.9 GoldmanSachs GS 19 245.57 138.20 239.45 59.22 32.9 NRG Yield C NYLD 23 18.56 10.49 15.80 1.04 7.0
ChoiceHotels CHH 24 57.38 40.78 56.05 5.64 11.2 KennedyWilson KW cc 24.26 15.73 20.50 -3.58 -14.9
EdisonInt EIX 27 78.72 57.97 71.99 12.78 21.6 GraceWR GRA 50 80.56 62.96 67.64 -12.29 -15.4 KenonHoldings KEN dd 12.20 7.10 11.65 1.63 16.2 NTTDoCoMo DCM 15 28.43 19.43 22.75 2.25 11.0
Christopher&Banks CBK dd 3.02 1.20 2.34 0.69 41.8 EducationRealty EDR cc 48.87 34.76 42.30 4.42 11.7 Graco GGG 24 86.62 63.05 83.09 11.02 15.3 NVR NVR 171845.371462.021669.00 26.00 1.6
Chubb CB 18 133.89 106.82 132.12 15.27 13.1 KeyEnergySvcs KEG ... 34.99 24.00 31.95 5.00 18.6
EdwardsLife EW 37 121.75 72.20 93.70 14.72 18.6 Graham GHM 69 24.05 14.39 22.15 5.33 31.7 KeyCorp KEY 21 18.62 9.88 18.27 5.08 38.5 NaborsIndustries NBR dd 17.68 4.93 16.40 7.89 92.7
ChunghwaTelecom CHT 19 38.47 29.31 31.55 1.52 5.1 eHiCarServices EHIC cc 13.92 8.11 9.06 -3.53 -28.0 GrahamHoldings GHC 16 547.80 425.14 511.95 26.98 5.6 NamTaiProperty NTP dd 9.59 4.80 7.40 1.61 27.8
Church&Dwight CHD 25 53.68 38.42 44.19 1.75 4.1 KeysightTechs KEYS 19 38.28 21.07 36.57 8.24 29.1
ElPasoElectric EE 20 48.75 37.19 46.50 8.00 20.8 Grainger GWW 21 240.74 176.85 232.25 29.66 14.6 KilroyRealty KRC 25 77.54 46.76 73.22 9.94 15.7 NatlBankHoldings NBHC 56 32.28 18.41 31.89 10.52 49.2
Ciber CBR dd 3.46 0.63 0.63 -2.88 -82.0 EldoradoGold EGO dd 5.16 1.87 3.22 0.25 8.4 GramercyProperty GPT dd 10.03 6.50 9.18 1.46 18.9 NationalFuelGas NFG dd 59.62 39.79 56.64 13.89 32.5
Ciena CIEN 49 25.19 15.62 24.41 3.72 18.0 GranayMontero GRAM KimberlyClark KMB 21 138.87 111.30 114.12 -13.18 -10.4
EllingtonFin EFC dd 18.20 14.18 15.52 -1.26 -7.5 14 8.96 2.18 7.15 4.21 143.2 KimcoRealty KIM 23 32.24 24.35 25.16 -1.30 -4.9 NationalGrid NGG 15 74.97 56.50 58.33 -11.21 -16.1
Cigna CI 18 148.99 115.03 133.39 -12.94 -8.8 EllingtonResiMtg EARN 11 14.43 9.57 13.01 0.66 5.3 GranitCnstr GVA 32 62.18 35.69 55.00 12.09 28.2 NatlHealthInv NHI 17 82.53 54.51 74.17 13.30 21.8
CimarexEnergy XEC dd 146.96 72.77 135.90 46.52 52.0 GraniteREIT GRP/U KinderMorgan KMI dd 23.36 11.20 20.71 5.79 38.8
EmbotellAndinaA AKO/A 26 22.91 14.17 20.53 4.25 26.1 5 34.45 24.79 33.44 5.94 21.6 KinderMorganWt KMI/WS ... 0.10 ... 0.01 -0.05 -90.8 NatlOilwell NOV dd 43.63 25.74 37.44 3.95 11.8
CincinnatiBell CBB 8 25.65 14.00 22.35 4.35 24.2 EmbotellAndinaB AKO/B 29 25.07 14.21 22.47 5.06 29.1 GraphicPkg GPK 16 14.70 10.71 12.48 -0.35 -2.7 NatlPrestoInds NPK 19 108.75 72.30 106.40 23.54 28.4
Cinemark CNK 19 42.56 26.56 38.36 4.93 14.7 GrayTelevision GTN Kindred KND dd 15.66 5.65 7.85 -4.06 -34.1
Embraer ERJ 47 30.65 17.06 19.25 -10.29 -34.8 19 16.26 7.00 10.85 -5.45 -33.4 KingswayFin KFS dd 6.25 3.65 6.25 1.68 36.8 NatlRetailProp NNN 40 53.59 38.29 44.20 4.15 10.4
CinerRscs CINR 13 39.10 18.80 29.00 6.68 29.9 EmergeEnergy EMES dd 15.75 1.97 12.31 7.68 165.9 GrayTelevision A GTN/A 18 13.39 7.05 10.40 -3.27 -23.9 NatlStorage NSA 96 22.86 15.67 22.07 4.94 28.8
CircorIntl CIR 56 69.54 32.79 64.88 22.73 53.9 AJX KinrossGold KGC dd 5.82 1.31 3.11 1.29 70.9
EmergentBiosol EBS 33 41.91 24.47 32.84 -4.95 -13.1 GreatAjax 7 14.48 9.06 13.27 1.15 9.5 Kirby KEX 22 73.25 44.63 66.50 13.88 26.4 NationstarMtg NSM dd 19.51 8.29 18.06 4.69 35.1
Citigroup C 13 61.30 34.52 59.43 7.68 14.8 EmergentCapital EMG dd 4.59 1.11 1.21 -2.48 -67.2 GreatPlainsEner GXP 20 32.74 25.85 27.35 0.04 0.1 NaturalGasSvcs NGS 47 34.50 15.96 32.15 9.85 44.2
CitigroupWt19 C/WS/A ... 0.25 0.02 0.15 -0.03 -15.6 EmersonElectric EMR 22 58.28 41.25 55.75 7.92 16.6 GreatWesternBncp GWB 20 44.11 22.68 43.59 14.57 50.2 KiteRealty KRG cc 30.45 22.50 23.48 -2.45 -9.4
CitizensFin CFG 19 36.56 18.04 35.63 9.44 36.0 KnightTransport KNX 27 38.80 20.56 33.05 8.82 36.4 NaturalGrocers NGVC 23 22.43 10.46 11.89 -8.48 -41.6
EmpireDistrictElc EDE 25 34.49 26.20 34.09 6.02 21.4 GreenDot GDOT 33 25.42 15.28 23.55 7.13 43.4 Knoll KNL 18 28.40 16.42 27.93 9.13 48.6 NaturalResPtrs NRP 6 40.00 5.00 32.30 19.60 154.3
Citizens CIA dd 11.93 6.10 9.82 2.39 32.2 EmpireStateReal250 FISK ... 22.98 14.56 19.98 2.02 11.2 Greenbrier GBX 7 44.30 19.89 41.55 8.93 27.4 Natuzzi NTZ dd 2.38 1.28 2.26 0.65 40.4
CityOfficeREIT CIO dd 13.93 10.65 13.17 0.99 8.1 EmpireStateReal60 OGCP ... 21.99 14.55 19.66 1.73 9.6 Greenhill GHL 20 29.15 15.62 27.70 -0.91 -3.2 KnotOffshore KNOP 11 23.95 9.68 23.60 10.11 74.9
Civeo CVEO dd 2.81 0.75 2.20 0.78 54.9 Knowles KN dd 17.49 9.68 16.71 3.38 25.4 Nautilus NLS 18 24.99 15.30 18.50 1.78 10.6
EmpireStateRealES ESBA ... 22.19 13.97 19.98 1.94 10.8 Greif A GEF 40 57.97 23.88 51.31 20.50 66.5 Kohl's KSS 15 59.67 33.87 49.38 1.75 3.7 NavigantConsult NCI 22 27.86 14.07 26.18 10.12 63.0
CivitasSolutions CIVI 80 29.63 15.19 19.90 -8.89 -30.9 EmpireStateRealty ESRT 59 22.30 14.58 20.19 2.12 11.7 Greif B GEF/B 36 73.50 33.25 67.55 24.78 57.9 NavigatorHldgs NVGS 8 17.67 6.47 9.30 -4.35 -31.9
Clarcor CLC 28 83.00 44.13 82.47 32.79 66.0 EmployersHldgs EIG 13 39.75 22.58 39.60 12.30 45.1 Griffon GFF 38 26.95 13.45 26.20 8.40 47.2 KoninklijkePhil PHG 32 30.63 23.00 30.57 5.12 20.1
ClaytonWilliams CWEI dd 124.78 6.35 119.26 89.69 303.3 Koppers KOP dd 42.70 13.58 40.30 22.05 120.8 NaviosMaritime NNA 4 3.02 1.19 1.70 -1.31 -43.5
EmpresaDisCom EDN dd 28.39 13.24 27.85 10.32 58.9 Group1Auto GPI 20 82.35 47.30 77.94 2.24 3.0 NaviosMaritime NM dd 2.40 0.57 1.41 -0.34 -19.4
CleanHarbors CLH dd 58.23 37.09 55.65 14.00 33.6 EnableMidstream ENBL 23 16.79 5.38 15.73 6.53 71.0 GrubHub GRUB 68 44.58 17.77 37.62 13.42 55.5 KoreaElcPwr KEP 3 28.37 18.40 18.48 -2.69 -12.7
ClearChannelOutdr CCO dd 7.31 2.97 5.05 -0.54 -9.7 KornFerry KFY 77 32.72 18.57 29.43 -3.75 -11.3 NaviosMaritimeMid NAP 12 14.20 6.58 10.78 -0.69 -6.0
EnbridgeEnergy EEQ dd 26.45 12.79 25.90 5.91 29.6 GpoAeroportuar PAC 24 108.24 76.65 82.52 -5.76 -6.5 NaviosMaritime NMM ... 3.16 0.79 1.41 -1.61 -53.3
ClearwaterPaper CLW 22 69.75 32.00 65.55 20.02 44.0 EnbridgeEnPtrs EEP dd 26.36 14.27 25.48 2.41 10.4 GpoAeroportSur ASR 22 165.40 119.99 143.89 3.22 2.3 KosmosEnergy KOS dd 7.14 3.17 7.01 1.81 34.8
CliffsNatRscs CLF 46 10.90 1.20 8.41 6.83 432.3 Kraton KRA 8 37.50 13.35 28.48 11.87 71.5 NavistarIntl NAV dd 33.46 5.78 31.37 22.53 254.9
Enbridge ENB 21 45.77 27.43 42.12 8.93 26.9 GpoAvalAcciones AVAL 12 9.04 5.59 7.94 1.42 21.8 NeenahPaper NP 22 90.22 52.70 85.20 22.77 36.5
Clorox CLX 24 140.47 111.24 120.02 -6.81 -5.4 Encana ECA dd 13.49 3.00 11.74 6.65 130.6 GpFinSantandMex BSMX 11 10.13 6.73 7.19 -1.48 -17.1 Kroger KR 17 42.42 28.71 34.51 -7.32 -17.5
KronosWorldwide KRO dd 12.68 3.94 11.94 6.30 111.7 Neff NEFF 15 15.20 3.62 14.10 6.44 84.1
CloudPeakEnergy CLD dd 8.04 1.08 5.61 3.53 169.7 EndeavourSilver EXK dd 5.95 1.00 3.52 2.10 147.9 GpoSupervielle SUPV ... 16.16 10.00 13.14 1.64 14.3 Nelnet NNI 9 55.01 27.80 50.75 17.18 51.2
ClubCorp MYCC dd 18.14 9.75 14.35 -3.92 -21.5 Endurance ENH 15 92.69 57.97 92.40 28.41 44.4 GrupoTelevisa TV 39 29.34 19.86 20.89 -6.32 -23.2 Kyocera KYO 22 50.93 38.01 49.78 3.67 8.0
NeoPhotonics NPTN dd 18.51 7.61 10.81 -0.05 -0.5
Coach COH 20 43.71 30.06 35.02 2.29 7.0 EnduroRoyalty NDRO GuangshenRail GSH 22 30.50 20.51 30.31 5.59 22.6
CobaltIntlEner CIE dd 5.46 0.77 1.22 -4.18 -77.4 EnelAmericas ENIA
12 4.55
10 9.16
1.77 3.45
5.57 8.21
1.02
1.66
42.0
25.3 Guess GES 16 22.84 11.87 12.10 -6.78 -35.9 L NeuStar
Nevro
NSR
NVRO
12 33.50 20.00 33.40
dd 106.93 47.07 72.66
9.43
5.15
39.3
7.6
Coca-Cola KO 25 47.13 39.88 41.46 -1.50 -3.5 EnelChile ENIC 9 6.81 4.25 4.55 -2.00 -30.5 GuidewireSoftware GWRE cc 64.00 42.32 49.33 -10.83 -18.0 NewHome NWHM 11 12.79 7.51 11.71 -1.25 -9.6
Coca-Cola Euro CCE ... 54.54 30.55 31.40 -17.84 -36.2 EnelGenChile EOCC ... 29.52 18.35 19.44 -5.98 -23.5 Gulfmark GLF dd 7.50 1.05 1.75 -2.92 -62.5 LATAMAirlines LFL dd 9.93 4.35 8.18 2.79 51.8
L Brands LB 17 97.39 60.00 65.84 -29.98 -31.3 NewJerseyRscs NJR 24 38.92 30.46 35.50 2.54 7.7
Coca-Cola Femsa KOF 24 87.58 61.00 63.54 -7.27 -10.3 Energen EGN dd 64.44 20.76 57.67 16.68 40.7 NewMediaInvt NEWM 10 19.89 13.95 15.99 -3.47 -17.8
CoeurMining CDE
Cohen&Steers CNS
dd 16.41
22 43.83
1.62 9.09 6.61
26.72 33.60 3.12
266.5
10.2
Energizer ENR
EnergyTrfrEquity ETE
22 53.41
19 19.99
28.86 44.61
4.00 19.31
10.55
5.57
31.0
40.5
H LGDisplay
LINE
LPL
LN
cc 14.36 8.43 12.85
... 51.48 33.36 34.01
2.41
-7.57
23.1
-18.2 NewOrientalEduc EDU 29 53.38 27.40 42.10 10.73 34.2
LSB Inds LXU dd 15.50 3.68 8.42 1.17 16.1 NewRelic NEWR dd 38.72 20.39 28.25 -8.18 -22.5
Colfax CFX 33 39.84 18.22 35.93 12.58 53.9 EnergyTrfrPtrs ETP dd 43.50 18.62 35.81 2.08 6.2 HCAHoldings HCA 12 83.69 60.07 74.02 6.39 9.4 NewResidInvt NRZ 10 16.43 9.07 15.72 3.56 29.3
Colgate-Palmolive CL 43 75.38 61.40 65.44 -1.18 -1.8 Enerplus ERF dd 10.33 1.84 9.48 6.06 177.2 HCI Group HCI 11 40.45 24.35 39.48 4.63 13.3 LSC Comm LKSD ... 37.40 17.00 29.68 -4.32 -12.7
LTC Properties LTC 22 54.20 40.55 46.98 3.84 8.9 NewSeniorInvt SNR dd 12.68 7.78 9.79 -0.07 -0.7
ColonyCapital CLNY 26 21.07 14.73 20.25 0.77 4.0 n EnersisAmericasWi ENIAw ... 8.58 7.80 8.16 0.26 3.3 HCP HCP dd 36.81 22.86 29.72 -5.09 -14.6 NewYork NWY dd 4.15 1.34 2.27 -0.02 -0.9
ColonyStarwood SFR dd 33.09 19.54 28.81 6.17 27.3 EnerSys ENS 25 83.70 42.60 78.10 22.17 39.6 HDFC Bank HDB ... 74.04 51.11 60.68 -0.92 -1.5 L-3 Comm LLL 41 161.91 105.88 152.11 32.60 27.3
LaQuinta LQ cc 14.51 9.42 14.21 0.60 4.4 NY CmntyBcp NYCB dd 17.68 13.74 15.91 -0.41 -2.5
ColumbiaPipeline CPPL 24 19.49 11.77 17.15 -0.33 -1.9 Engility EGL dd 39.16 11.46 33.70 1.22 3.8 HFF HF 14 34.39 21.36 30.25 -0.82 -2.6 NewYorkREIT NYRT dd 11.60 8.79 10.12 -1.38 -12.0
ColumbiaProperty CXP cc 24.63 19.34 21.60 -1.88 -8.0 EnLinkMid ENLC dd 19.60 6.41 19.05 3.96 26.2 HNI HNI 24 56.96 29.84 55.92 19.86 55.1 La-Z-Boy LZB 20 32.90 19.56 31.05 6.63 27.1
LH 20 141.32 97.79 128.38 4.74 3.8 NYTimes A NYT 51 14.20 10.60 13.30 -0.12 -0.9
Comerica CMA 28 70.44 30.48 68.11 26.28 62.8 EnLinkMidPtrs ENLK dd 19.89 6.32 18.42 1.84 11.1 HP HPQ 10 16.25 8.91 14.84 3.00 25.3 LabCpAm
NewellBrands NWL 85 55.45 33.26 44.65 0.57 1.3
ComericaWt CMA/WS ... 41.00 7.82 38.75 24.74 176.6 Ennis EBF 17 21.55 14.40 17.35 -1.90 -9.9 HRG Group HRG dd 16.39 10.29 15.56 2.00 14.7 LadderCapital LADR 15 15.53 8.64 13.72 1.30 10.5
LW NewfieldExpln NFX dd 50.00 20.84 40.50 7.94 24.4
ComfortSystems FIX 21 35.25 24.22 33.30 4.88 17.2 EnovaIntl ENVA 14 13.90 4.64 12.55 5.94 89.9 HSBCHoldings HSBC 32 43.07 28.62 40.18 0.71 1.8 LambWeston ... 38.52 28.75 37.85 3.85 11.3
NewMarket NEU 20 447.96 322.54 423.84 43.11 11.3
CommercialMetals CMC 46 24.64 12.44 21.78 8.09 59.1 EnPro NPO dd 69.23 37.53 67.36 23.52 53.6 Haemonetic HAE dd 41.41 25.98 40.20 7.96 24.7 Landauer LDR 26 53.45 26.99 48.10 15.18 46.1
LCI NewmontMining NEM cc 46.07 16.05 34.07 16.08 89.4
CommBkSys CBU 28 62.39 34.27 61.79 21.85 54.7 Entercom ETM 16 16.45 8.88 15.30 4.07 36.2 HalconRscs HK dd 50.93 6.79 9.34 -33.44 -78.2 Lannett dd 40.66 16.75 22.05 -18.07 -45.0
NewparkResources NR dd 8.20 3.35 7.50 2.22 42.0
CommunityHlthSys CYH dd 22.47 4.15 5.59 -16.25 -74.4 Entergy ETR 10 82.08 65.38 73.47 5.11 7.5 HalconRscsWt HK/WS ... 3.77 0.25 2.30 2.05 820.0 LaredoPetrol LPI dd 16.47 3.90 14.14 6.15 77.0
LVS NexPointResidentl NXRT 24 22.38 10.35 22.34 9.25 70.7
CommunityHlthcr CHCT cc 23.70 15.87 23.03 4.60 25.0 EntergyBds ENO ... 28.00 22.31 23.35 -2.36 -9.2 Halliburton HAL dd 56.08 27.64 54.09 20.05 58.9 LasVegasSands 26 63.38 34.88 53.41 9.57 21.8
NextEraEnergy NEE 23 131.98 102.20 119.46 15.57 15.0
SABESP SBS 9 10.55 3.98 8.68 4.08 88.7 EnterpriseProd EPD 22 30.11 19.00 27.04 1.46 5.7 HalyardHealth HYH 39 39.53 22.76 36.98 3.57 10.7 LaSalleHotel LHO 26 31.15 19.01 30.47 5.31 21.1
LAZ NextEraEnergyUn NEEpQ ... 64.78 51.80 57.25 4.42 8.4
EngGr-Cmg C CIG/C 12 3.20 1.08 2.53 0.79 45.4 Entravision EVC 35 8.31 5.20 7.00 -0.71 -9.2 Hanesbrands HBI 17 31.36 21.40 21.57 -7.86 -26.7 Lazard 13 44.90 26.21 41.09 -3.92 -8.7
n NextEraEnergyUn NEEpR ... 52.26 46.80 48.98 -1.12 -2.2
EngGr-Cmg CIG 11 3.08 1.02 2.28 0.78 52.0 Envestnet ENV dd 41.47 19.30 35.25 5.40 18.1 HannonArmstrong HASI 68 25.21 15.69 18.99 0.07 0.4 Leaf LFGR dd 7.40 4.41 6.55 1.05 19.1
LEA NextEraEnergy NEP 24 32.42 23.78 25.54 -4.31 -14.4
COPEL ELP 6 11.94 4.22 8.48 2.61 44.5 n EnvisionHlthcr EVHC 19 83.27 57.32 63.29 -12.71 -16.7 HanoverIns THG 16 91.98 74.06 91.01 9.67 11.9 Lear 10 138.80 93.54 132.37 9.54 7.8
NielsenHoldings NLSN 26 55.94 41.00 41.95 -4.65 -10.0
CiaSiderurgica SID 18 3.97 0.73 3.23 2.25 231.0 EnvivaPartners EVA 17 29.85 13.73 26.80 8.65 47.7 HarleyDavidson HOG 15 62.35 36.36 58.34 12.95 28.5 LeeEnterprises LEE 4 3.92 1.15 2.90 1.22 72.6
LM Nike NKE 22 65.44 49.01 50.83 -11.67 -18.7
CerveceriasUnid CCU 26 24.17 18.78 20.98 -0.68 -3.1 EnzoBiochem ENZ 8 7.51 4.00 6.94 2.44 54.2 HarmanIntlInds HAR 21 111.32 64.93 111.16 16.95 18.0 LeggMason dd 39.97 24.93 29.91 -9.32 -23.8
NimbleStorage NMBL dd 9.90 5.64 7.92 -1.28 -13.9
CompassDiversif CODI 46 19.50 13.65 17.90 2.01 12.6 Equifax EFX 30 136.97 91.72 118.23 6.86 6.2 HarmonyGold HMY 17 4.87 1.01 2.21 1.28 137.9 Leggett&Platt LEG 18 54.62 36.64 48.88 6.86 16.3
LDOS NipponTelegraph NTT 12 49.67 37.99 42.07 2.33 5.9
CompassMnlInt CMP 22 82.55 66.30 78.35 3.08 4.1 EquityCommnwlth EQC 16 31.91 25.23 30.24 2.51 9.1 Harris HRS 36 107.54 70.97 102.47 15.57 17.9 Leidos 14 59.45 37.79 51.14 -5.12 -9.1
NiSource NI 24 26.94 19.05 22.14 2.63 13.5
CSC CSC dd 63.34 24.27 59.42 26.74 81.8 EquityLife ELS 38 83.19 62.22 72.10 5.43 8.1 Harsco HSC dd 15.25 3.55 13.60 5.72 72.6 LejuHoldings LEJU 23 5.83 3.28 4.80 -0.92 -16.1
LC NoahHoldings NOAH 14 29.35 20.30 21.93 -6.00 -21.5
ComstockRscs CRK dd 11.62 2.64 9.85 0.50 5.3 EquityOne EQY 62 33.46 25.02 30.69 3.54 13.0 HarteHanks HHS dd 3.73 0.85 1.51 -1.73 -53.4 LendingClub dd 11.25 3.44 5.25 -5.80 -52.5
Noble NE 7 13.90 4.45 5.92 -4.63 -43.9
ConagraBrands CAG 28 39.97 29.55 39.55 6.74 20.6 EquityResdntl EQR 55 81.76 58.28 64.36 -17.23 -21.1 HartfordFinl HIG 14 48.82 36.54 47.65 4.19 9.6 Lennar A LEN 11 49.60 37.14 42.93 -5.98 -12.2
LEN/B NobleEnergy NBL dd 42.03 23.77 38.06 5.13 15.6
ConchoRscs CXO dd 147.55 69.94 132.60 39.74 42.8 EraGroup ERA dd 17.20 6.92 16.97 5.82 52.2 HartfordFinSvcsWt HIG/WS ... 42.52 29.00 41.24 4.52 12.3 Lennar B 9 39.93 30.04 34.50 -5.68 -14.1
NobleMidstream NBLX 24 40.16 26.00 36.00 9.80 37.4
ConcordMed CCM dd 5.13 3.51 4.59 -0.24 -5.1 ErosIntl EROS dd 19.87 5.59 13.05 3.90 42.6 HarvestNatRes HNR dd 6.43 1.20 6.18 4.48 263.5 LennoxIntl LII 27 164.56 105.65 153.17 28.27 22.6
LeucadiaNatl LUK Nokia NOK 21 7.55 4.04 4.81 -2.21 -31.5
Conduent CNDTw ... 16.26 13.90 14.90 -1.10 -6.9 EssentGroup ESNT 15 33.94 16.48 32.37 10.48 47.9 HavertyFurn HVT 20 24.55 16.57 23.70 2.26 10.5 cc 24.16 14.27 23.25 5.86 33.7
NomadFoods NOMD 17 13.40 6.40 9.57 -2.43 -20.2
ConocoPhillips COP dd 53.17 31.05 50.14 3.45 7.4 EssexProp ESS 52 240.55 191.25 232.50 -6.91 -2.9 HavertyFurn A HVT/A 21 24.41 16.90 23.60 2.10 9.8 Level3Comm LVLT 5 57.59 41.73 56.36 2.00 3.7
LexingtonRealty LXP NomuraHoldings NMR 19 6.77 3.33 5.90 0.35 6.3
ConsolEnergy CNX dd 22.34 4.54 18.23 10.33 130.8 EsteeLauder EL 26 97.48 75.30 76.49 -11.57 -13.1 HawaiianElec HE 15 34.98 27.30 33.07 4.12 14.2 25 11.02 6.52 10.80 2.80 35.0
Norbord OSB 12 27.32 14.00 25.25 5.59 28.4
ConEd ED 18 81.88 63.47 73.68 9.41 14.6 EsterlineTechs ESL 25 94.72 45.12 89.20 8.20 10.1 Headwaters HW 35 23.99 13.62 23.52 6.65 39.4 LibertyProperty LPT 24 42.26 26.94 39.50 8.45 27.2
LSI NordAngliaEduc NORD 49 24.47 14.58 23.30 3.02 14.9
ConstBrands A STZ 28 173.55 130.23 153.31 10.87 7.6 EthanAllen ETH 19 38.80 22.46 36.85 9.03 32.5 HealthcareRealty HR 61 36.60 26.66 30.32 2.00 7.1 LifeStorage 34 118.18 77.00 85.26 -22.05 -20.5
NordicAmerOffshr NAO dd 5.69 2.55 2.75 -2.52 -47.8
ConstBrands B STZ/B 28 175.50 134.76 153.20 9.03 6.3 Euronav EURN 5 13.71 6.65 7.95 -5.76 -42.0 HealthcareAmer HTA cc 34.64 25.90 29.11 2.14 7.9 LifeLock LOCK cc 23.99 9.14 23.92 9.57 66.7
LightInTheBox LITB NordicAmerTankers NAT 11 16.18 7.57 8.40 -7.14 -45.9
Constellium CSTM dd 8.65 3.95 5.90 -1.80 -23.4 EverBankFin EVER 20 19.47 12.32 19.45 3.47 21.7 HealthSouth HLS 17 43.38 30.26 41.24 6.43 18.5 dd 3.59 1.95 2.97 0.01 0.3
Nordstrom JWN 26 62.82 35.01 47.93 -1.88 -3.8
ContainerStore TCS 33 8.34 3.77 6.35 -1.85 -22.6 EvercorePtrs EVR 36 71.97 40.35 68.70 14.63 27.1 n HealthSouthWt HLS/WS ... 4.50 0.67 0.67 -1.48 -68.8 EliLilly LLY 32 85.40 64.18 73.55 -10.71 -12.7
LincolnNational LNC NorfolkSouthern NSC 20 111.43 64.51 108.07 23.48 27.8
ContinentalBldg CBPX 23 24.78 13.25 23.10 5.64 32.3 EverestRe RE 9 219.51 167.07 216.40 33.31 18.2 HeclaMining HL dd 7.64 1.45 5.24 3.35 177.2 12 69.49 30.39 66.27 16.01 31.9
NortelInversora NTL 12 30.78 13.50 26.06 11.12 74.4
ContinentalRscs CLR dd 60.30 13.94 51.54 28.56 124.3 Everi EVRI dd 4.50 1.13 2.17 -2.22 -50.6 Heico HEI 34 82.37 50.85 77.15 22.79 41.9 LincolnNatlWt LNC/WS ... 63.75 24.59 61.00 18.50 43.5
LNN NAmerEnergyPtr NOA dd 4.20 1.39 3.85 2.12 122.5
Volaris VLRS 8 21.90 13.71 15.04 -2.12 -12.4 EversourceEner ES 20 60.44 50.01 55.23 4.16 8.1 Heico A HEI/A 30 70.25 40.10 67.90 18.70 38.0 Lindsay 56 89.98 62.99 74.61 2.21 3.1
NorthAtlDrilling NADL dd 8.08 1.36 3.17 0.71 28.9
Convergys CVG 16 30.92 22.53 24.56 -0.33 -1.3 Evertec EVTC 16 18.60 11.27 17.75 1.01 6.0 HelixEnergy HLX dd 11.87 2.60 8.82 3.56 67.7 n LionsGate A LGF/A ... 28.23 26.09 26.90 -0.40 -1.5
NoEuroOil NRT 8 9.90 6.11 6.60 -0.68 -9.3
Cooper COO 31 190.99 119.28 174.93 40.73 30.4 EvolentHealth EVH dd 26.84 8.14 14.80 2.69 22.2 Helmerich&Payne HP dd 85.78 40.02 77.40 23.85 44.5 n LionsGate B LGF/B ... 27.01 24.46 24.54 -1.83 -6.9
LithiaMotors LAD NorthropGrumman NOC 20 253.80 175.00 232.58 43.77 23.2
Cooper-Standard CPS 15 107.94 63.01 103.38 25.79 33.2 Exar EXAR cc 11.09 4.82 10.78 4.65 75.9 Herbalife HLF 17 72.22 42.26 48.14 -5.48 -10.2 13 105.38 68.70 96.83 -9.84 -9.2
NorthStarAsset NSAM 39 15.22 9.17 14.92 2.78 22.9
CooperT&R CTB 9 40.75 29.29 38.85 1.00 2.6 Exelon EXC 26 37.70 26.26 35.49 7.72 27.8 HercHoldings HRI cc 43.99 21.36 40.16 -3.61 -8.2 LiveNationEnt LYV dd 29.04 18.77 26.60 2.03 8.3
LloydsBanking LYG NorthstarRltyEur NRE dd 13.04 7.81 12.57 0.76 6.4
Copa CPA 16 97.00 42.61 90.83 42.57 88.2 ExelonUn EXCU ... 50.97 38.55 48.41 7.94 19.6 HeritageInsurance HRTG 8 21.42 11.25 15.67 -6.15 -28.2 37 4.42 2.47 3.10 -1.26 -28.9
NorthStarRealty NRF dd 17.13 8.38 15.15 -1.88 -11.0
CoreLabs CLB 82 135.49 84.50 120.04 11.30 10.4 Express EXPR 10 21.57 10.37 10.76 -6.52 -37.7 HershaHospitality HT 9 22.15 15.36 21.50 -0.26 -1.2 LockheedMartin LMT 20 269.90 200.47 249.94 32.79 15.1
L NorthwestNatGas NWN 27 66.17 48.90 59.80 9.19 18.2
CoreCivic CXW 14 35.05 12.99 24.46 -2.03 -7.7 ExtendedStayAmer STAY 27 17.08 10.56 16.15 0.25 1.6 Hershey HSY 27 117.79 82.42 103.43 14.16 15.9 Loews 94 48.05 33.84 46.83 8.43 22.0
Northwestern NWE 17 63.75 52.16 56.87 2.62 4.8
CoreLogic CLGX 23 43.43 30.73 36.83 2.97 8.8 Exterran EXTN 18 24.84 10.83 23.90 7.85 48.9 HertzGlobal HTZ dd 53.14 17.20 21.56 -23.07 -51.7 LouisianaPacific LPX 27 21.16 13.31 18.93 0.92 5.1
LOW Novartis NVS 26 86.26 66.93 72.84 -13.20 -15.3
Coresite COR 56 91.91 54.23 79.37 22.65 39.9 ExtraSpaceSt EXR 33 94.81 68.09 77.24 -10.97 -12.4 Hess HES dd 65.56 32.41 62.29 13.81 28.5 Lowe's 26 83.65 62.62 71.12 -4.92 -6.5
NovoNordisk NVO 16 58.16 30.89 35.86 -22.22 -38.3
Corning GLW 12 25.34 16.13 24.27 5.99 32.8 ExxonMobil XOM 42 95.55 71.55 90.26 12.31 15.8 HewlettPackard HPE 13 24.79 11.62 23.14 7.94 52.2 Luby's LUB dd 5.10 3.71 4.28 -0.19 -4.3
LL NuSkinEnts NUS 20 66.04 23.51 47.78 9.89 26.1
CorpOfficeProp OFC dd 31.51 19.52 31.22 9.39 43.0 Hexcel HXL 20 55.11 37.54 51.44 4.99 10.7 LumberLiqu dd 20.10 10.01 15.74 -1.62 -9.3
Nucor NUE 37 68.00 33.90 59.52 19.22 47.7
Cosan
Costamare
CZZ
CMRE
11 9.50
4 11.00
2.47 7.51 3.82
5.46 5.60 -4.82
103.5
-46.3
F HH Gregg
Hi-Crush
HGG
HCLP
dd 3.84 1.28 1.43
dd 20.95 3.55 19.80
-2.23
13.88
-60.9
234.5
Luxfer
Luxoft
LXFR
LXFT
12 13.60 9.17 10.89
30 77.28 46.58 56.20
1.05
-20.93
10.7
-27.1 NuSTAREnergy NS 23 53.47 25.65 49.80 9.70 24.2
LUX NuSTAR GP NSH 20 29.30 12.86 28.90 7.75 36.6
Cotiviti COTV ... 36.44 17.00 34.40 17.29 101.1 FB Financial FBK ... 26.45 19.81 25.95 5.20 25.1 HighwoodsProp HIW 43 56.23 38.08 51.01 7.41 17.0 Luxottica ... 64.25 44.85 53.70 -11.16 -17.2
COT LDL
Cott
Coty COTY
dd 17.38
cc 31.60
9.07 11.33 0.34
17.94 18.31 -7.32
3.1
-28.6
FBL Financial FFG
FCB Financial FCB
18
20
82.60
48.90
55.18
28.64
78.15
47.70
14.51
11.91
22.8
33.3
HillIntl
Hill-Rom
HIL
HRC
dd 4.68 1.95 4.35
30 63.12 42.99 56.14
0.47
8.08
12.1
16.8
Lydall
LyondellBasell LYB
28 64.85 25.41 61.85
10 93.75 69.09 85.78
26.37
-1.12
74.3
-1.3 O
CousinsProperties CUZ 43 8.57 5.31 8.51 1.85 27.9 FMC FMC dd 60.00 32.24 56.56 17.43 44.5 Hillenbrand HI 22 38.70 24.12 38.35 8.72 29.4 OCI Partners OCIP
Covanta CVA
CR
32 17.75 12.48 15.60 0.11 0.7 FMC Tech FTI 74 36.51 22.30 35.53 6.52 22.5 Hilltop HTH 22 30.24 14.28 29.80 10.58 55.0 M OFGBancorp OFG
dd
20
8.85
14.47
4.95
4.56
8.35
13.10
1.22
5.78
17.1
79.0
Crane 17 78.94 41.68 72.12 24.28 50.8 FNB FNB 21 16.43 11.16 16.03 2.69 20.2 HiltonGrandVac HGVw ... 28.25 25.36 26.00 -0.15 -0.6 OGE Energy OGE 21 34.23 23.37 33.45 7.16 27.2
Crawford A CRD/A dd 10.50 3.81 9.47 4.40 86.8 FTIConsulting FCN 21 47.12 29.91 45.08 10.42 30.1 HiltonWorldwide HLT 17 27.95 16.16 27.20 5.80 27.1 M&T Bank MTB 21 158.35 100.08 156.43 35.25 29.1 OM AssetMgmt OMAM 13 15.52 10.27 14.50 -0.83 -5.4
Crawford B CRD/B dd 14.37 3.99 12.56 7.25 136.5 Fabrinet FN 18 46.50 21.29 40.30 16.48 69.2 HiltonWorldwideWi HLTw ... 58.05 52.00 55.67 2.14 4.0 M&TBankWt MTB/WS ... 83.00 30.26 83.00 34.28 70.4 ONE Gas OGS 25 67.35 48.01 63.96 13.79 27.5
Credicorp BAP ... 166.26 84.72 157.86 60.54 62.2 FactSet FDS 19 183.17 135.95 163.43 0.86 0.5 HoeghLNG Ptrs HMLP 15 19.56 11.50 19.00 0.38 2.0 MBIA MBI dd 11.46 5.51 10.70 4.22 65.1 ONEOK OKE 43 59.47 18.88 57.41 32.75 132.8
CreditSuisse CS dd 21.36 10.01 14.31 -7.38 -34.0 FairIsaac FICO 35 132.95 80.20 119.22 25.04 26.6 HollyEnergy HEP 18 36.99 21.44 32.06 0.92 3.0 MDC Holdings MDC 15 27.58 18.36 25.66 1.35 5.5 ONEOK Partners OKS 33 47.01 22.00 43.01 12.88 42.7
CrescentPoint CPG dd 18.95 7.82 13.59 1.94 16.7 FairmountSantrol FMSA dd 12.06 1.00 11.79 9.44 401.7 HollyFrontier HFC dd 41.29 22.07 32.76 -7.13 -17.9 MDU Rscs MDU cc 29.92 15.57 28.77 10.45 57.0 OaktreeCapital OAK 16 50.15 36.95 37.50 -10.22 -21.4
CrestwoodEquity CEQP dd 25.70 7.90 25.55 4.77 23.0 FangHoldings SFUN dd 7.10 2.76 3.28 -4.11 -55.6 HomeDepot HD 22 139.00 109.62 134.08 1.83 1.4 MFA Financial MFA 10 8.04 5.61 7.63 1.03 15.6 OasisPetrol OAS dd 17.08 3.40 15.14 7.77 105.4
CrossTimbers CRT 17 20.59 12.00 17.97 4.96 38.1 FarmlandPtrs FPI dd 11.98 9.54 11.16 0.19 1.7 HondaMotor HMC 15 31.18 24.03 29.19 -2.74 -8.6 MFC Bancorp MFCB dd 2.50 1.56 1.95 ... ... OccidentalPetrol OXY dd 78.48 58.22 71.23 3.65 5.4
CrossAmerPtrs CAPL 88 27.91 17.39 25.19 -0.73 -2.8 FedAgriMtg A AGM/A 12 62.50 26.09 61.50 34.46 127.4 Honeywell HON 18 119.34 93.18 115.85 12.87 12.5 MGIC Investment MTG 13 10.59 5.36 10.19 1.36 15.4 OceaneeringIntl OII 43 39.04 22.47 28.21 -9.31 -24.8
CrownCastle CCI 88 102.82 75.71 86.77 0.32 0.4 FedAgriMtg C AGM 12 59.50 26.11 57.27 25.70 81.4 HoraceMannEdu HMN 21 43.65 27.15 42.80 9.62 29.0 MGMGrowthProp MGP ... 27.89 21.75 25.31 3.30 15.0 Och-Ziff OZM dd 6.55 2.65 3.31 -2.92 -46.9
CrownHoldings CCK 15 57.49 43.30 52.57 1.87 3.7 FederalRealty FRT 48 171.08 134.39 142.11 -3.99 -2.7 HorizonGlobal HZN 55 26.36 8.06 24.00 13.63 131.4 MGM Resorts MGM 58 30.62 16.18 28.83 6.11 26.9 OcwenFinancial OCN dd 7.47 1.29 5.39 -1.58 -22.7
CryoLife CRY 58 20.15 8.94 19.15 8.37 77.6 FederalSignal FSS 23 16.65 11.16 15.61 -0.24 -1.5 HormelFoods HRL 21 45.72 33.18 34.81 -4.73 -12.0 MI Homes MHO 16 26.70 15.56 25.18 3.26 14.9 OiNew OIBR/C ... 6.70 1.01 3.97 0.92 30.2
CubeSmart CUBE 51 33.52 23.65 26.77 -3.85 -12.6 FederatedInvest FII 15 33.13 22.76 28.28 -0.37 -1.3 HornbeckOffshore HOS dd 12.98 3.00 7.22 -2.72 -27.4 MPLX MPLX dd 39.46 16.34 34.62 -4.71 -12.0 OilStatesIntl OIS dd 41.75 21.44 39.00 11.75 43.1
Cubic CUB cc 50.60 30.11 47.95 0.70 1.5 FedEx FDX 28 201.57 119.71 186.20 37.21 25.0 DR Horton DHI 12 34.56 22.97 27.33 -4.70 -14.7 MRC Global MRC dd 22.52 8.50 20.26 7.36 57.1 OilDriAmerica ODC 27 40.94 29.89 38.21 1.38 3.7
Cullen/Frost CFR 20 88.98 42.41 88.23 28.23 47.0 Felcor FCH dd 8.44 5.47 8.01 0.71 9.7 HostHotels HST 18 19.51 12.17 18.84 3.50 22.8 MSA Safety MSA 30 71.28 37.68 69.33 25.86 59.5 OldRepublic ORI 13 20.00 16.51 19.00 0.37 2.0
Culp CFI 25 37.80 22.61 37.15 11.68 45.9 Ferrari RACE 32 58.86 31.66 58.14 10.14 21.1 HoulihanLokey HLI 24 31.75 20.96 31.12 4.91 18.7 MSCI MSCI 31 90.79 62.17 78.78 6.65 9.2 Olin OLN dd 26.93 12.29 25.61 8.35 48.4
Cummins CMI 20 147.10 79.88 136.67 48.66 55.3 Ferrellgas FGP dd 20.85 5.04 6.77 -9.83 -59.2 Hovnanian HOV dd 2.96 1.19 2.73 0.92 50.8 MSC Industrial MSM 25 95.10 54.19 92.39 36.12 64.2 OmegaHealthcare OHI 21 38.09 26.96 31.26 -3.72 -10.6
CurtissWright CW 24 107.61 62.57 98.36 29.86 43.6 Ferro FOE 25 16.17 8.47 14.33 3.21 28.9 HowardHughes HHC 31 123.99 79.33 114.10 0.94 0.8 MSG Networks MSGN 10 22.85 14.73 21.50 0.70 3.4 OmegaProtein OME 18 26.30 14.58 25.05 2.85 12.8
CustomersBancorp CUBI 15 36.77 21.66 35.82 8.60 31.6 FiatChrysler FCAU 8 9.20 5.45 9.12 -0.07 -0.8 HuanengPower HNP 7 37.79 22.84 26.04 -8.26 -24.1 MV Oil MVO 14 6.76 3.26 6.23 1.36 27.9 Omnicom OMC 18 89.66 66.48 85.11 9.45 12.5
CypressEnergy CELP cc 12.36 5.28 10.55 1.75 19.9 FibriaCelulose FBR 7 12.74 5.79 9.61 -3.08 -24.3 Hubbell HUBB 23 119.05 83.16 116.70 15.66 15.5 Macerich MAC cc 94.51 66.00 70.84 -9.85 -12.2 OmnovaSol OMN dd 10.42 4.37 10.00 3.87 63.1
Fidelity&Guaranty FGL 14 26.55 21.10 23.70 -1.67 -6.6 HubSpot HUBS dd 59.97 27.00 47.00 -9.31 -16.5 Mack-Cali CLI 37 29.38 17.35 29.02 5.67 24.3 OnAssignment ASGN
D FidelityNatlFin FNF 21 38.50 28.24 33.96 -0.71 -2.0 HudBayMinerals HBM
HudBayMineralsWt HBM/WS
dd 7.35 1.56 5.70 1.88 49.2 MacquarieInfr MIC
M
57 85.45 51.83 81.70 9.10 12.5 OnDeckCapital ONDK
26
dd
45.83
10.18
29.34
3.64
44.16
4.63
-0.79
-5.67
-1.8
-55.0
FNFV Group FNFV 8 14.50 8.38 13.70 2.47 22.0 ... 0.65 0.08 0.36 0.12 50.0 Macy's 16 45.50 29.94 35.81 0.83 2.4 OneLiberty OLP 17 25.89 18.80 25.12 3.66 17.1
DCP Midstream DPM 22 39.43 15.09 38.38 13.71 55.6 FidelityNtlInfo FIS 52 81.67 55.10 75.64 15.04 24.8 HudsonPacProp HPP dd 35.84 22.77 34.78 6.64 23.6 MadisonSquGarden MSG dd 188.80 139.10 171.51 9.71 6.0 OneBeaconIns OB 12 16.25 11.68 16.05 3.64 29.3
DCT Industrial DCT 38 50.57 32.88 47.88 10.51 28.1 58.com WUBA dd 65.33 27.72 28.00 -37.96 -57.6 HugotonRoyalty HGT 38 2.75 0.98 2.15 0.55 34.4 MagellanMid MMP 22 77.45 55.25 75.63 7.71 11.4 OneMain OMF dd 41.25 16.03 22.14 -19.40 -46.7
DDR DDR dd 19.92 14.67 15.27 -1.57 -9.3 FirstAcceptance FAC dd 2.40 0.74 1.04 -1.34 -56.3 Humana HUM 28 217.80 150.00 204.03 25.52 14.3 MagnaIntl MGA 6 47.21 30.41 43.40 2.84 7.0 Ooma OOMA dd 9.92 5.43 9.00 2.65 41.7
DHI Group DHX dd 9.64 4.95 6.25 -2.92 -31.8 FirstAmerFin FAF 12 43.55 31.74 36.63 0.73 2.0 HuntingtonIngalls HII 20 189.17 118.20 184.19 57.34 45.2 MagnaChipSem MX 5 9.17 3.10 6.20 0.91 17.2 Oppenheimer A OPY dd 19.65 13.58 18.60 1.22 7.0
DHT DHT 22 8.06 3.29 4.14 -3.95 -48.8 FirstBanCorp FBP 17 7.05 2.06 6.61 3.36 103.4 Huntsman HUN 22 20.53 7.46 19.08 7.71 67.8 Mallinckrodt MNK 10 85.83 48.61 49.82 -24.81 -33.2 Oracle ORCL 19 42.00 33.13 38.45 1.92 5.3
DRDGOLD DRD 53 9.10 1.65 5.29 3.69 230.6 FirstCmwlthFin FCF 24 14.34 7.85 14.18 5.11 56.3 HyattHotels H 37 58.05 34.06 55.26 8.24 17.5 ManchesterUnited MANU 49 17.83 13.30 14.25 -3.56 -20.0 Orange ORAN 15 18.32 13.98 15.14 -1.49 -9.0
DST Systems DST 34 128.66 94.52 107.15 -6.91 -6.1 FirstData FDC dd 16.04 8.37 14.19 -1.83 -11.4 HysterYaleMatls HY 22 70.19 44.41 63.77 11.32 21.6 Manitowoc MTW dd 6.30 2.48 5.98 2.74 84.3 OrbitalATK OA 19 94.92 67.04 87.73 -1.61 -1.8
DSW DSW 18 29.53 18.51 22.65 -1.21 -5.1 FirstHorizonNatl FHN 22 20.76 11.51 20.01 5.49 37.8 ManitowocFood MFS ... 19.66 11.16 19.33 6.63 52.2 OrchidIslandCap ORC
DTE Energy DTE
DTE EnergyUn DTV
... 100.45
... 54.49
78.01
49.43
98.51
53.00
18.32
1.00
22.8
1.9
FirstIndRlty
FrstMajestcSlvr AG
FR 23
dd
29.75
19.15
18.89
2.40
28.05
7.63
5.92
4.36
26.8
133.3
I Manning&Napier MN
Manpower MAN
11 10.34 5.60
15 92.93 57.26
7.55
88.87
-0.94
4.58
-11.1
5.4
OrionEngCarbons OEC
8
37
11.25
20.85
7.50
10.33
10.83
18.85
0.90
6.25
9.1
49.6
OrionGroup ORN 66 10.80 3.25 9.95 5.78 138.6
Dana DAN 37 19.81 9.80 18.98 5.18 37.5 FirstPotomac FPO dd 11.46 7.90 10.97 -0.43 -3.8 ICICI Bank IBN 16 8.80 5.15 7.49 -0.34 -4.3 ManulifeFin MFC 12 19.04 10.99 17.82 2.84 19.0 Orix IX 9 82.58 57.00 77.83 7.59 10.8
Danaher DHR 21 82.64 61.58 77.84 7.44 10.6 FirstRepBank FRC 25 92.34 56.32 92.14 26.08 39.5 IDACORP IDA 21 83.40 65.03 80.55 12.55 18.5 MarathonOil MRO dd 19.28 6.52 17.31 4.72 37.5 OrmatTech ORA 30 53.89 32.25 53.62 17.15 47.0
Danaos DAC 3 6.14 2.15 2.65 -3.34 -55.8 FirstCash FCFS 31 53.95 29.64 47.00 9.57 25.6 IDT IDT 10 23.13 9.00 18.54 8.79 90.1 MarathonPetrol MPC 24 52.83 29.24 50.35 -1.49 -2.9 Oshkosh OSK 22 71.99 29.59 64.61 25.57 65.5
DaqoNewEnergy DQ 4 27.60 11.56 19.30 2.65 15.9 FirstEnergy FE dd 36.60 29.33 30.97 -0.76 -2.4 ING Groep ING ... 14.68 9.26 14.10 0.64 4.8 Marcus&Millichap MMI 15 30.31 18.77 26.72 -2.42 -8.3 OsiskoGoldRoyal OR 26 14.74 8.88 9.72 -0.12 -1.2
Darden DRI 21 79.43 55.77 72.72 9.08 14.3 Fitbit FIT 16 30.96 7.20 7.32 -22.27 -75.3 Invesco IVZ 15 33.54 23.02 30.34 -3.14 -9.4 Marcus MCS 38 32.15 17.44 31.50 12.53 66.1 OutfrontMedia OUT dd 25.47 18.01 24.87 3.04 13.9
DarlingIngred DAR 15 15.93 7.78 12.91 2.39 22.7 500.com WBAI dd 19.98 10.92 15.33 -4.77 -23.7 IONGeophysical IO dd 9.65 2.55 6.00 -1.55 -20.5 MarinSoftware MRIN dd 3.62 1.88 2.35 -1.23 -34.4 OverseasShip OSG dd 5.93 2.69 3.83 -2.17 -36.1
DaVita DVA 19 78.77 54.50 64.20 -5.51 -7.9 FiveOaksInvt OAKS dd 6.29 3.82 4.97 -0.49 -9.0 IRSA IRS dd 20.22 8.09 18.44 6.14 49.9 MarineHarvest MHG 18 18.68 12.40 18.13 4.95 37.6 Owens&Minor OMI 19 41.48 30.43 35.29 -0.69 -1.9
DeanFoods DF 19 22.14 15.69 21.78 4.63 27.0 Flagstar FBC 10 29.29 17.25 26.94 3.83 16.6 ITT ITT 18 43.07 29.15 38.57 2.25 6.2 MarineProducts MPX 32 14.51 4.92 13.87 7.83 129.6
DeckersOutdoor DECK 16 69.94 40.74 55.39 8.19 17.4 FleetCorTech FLT 33 176.42 107.56 141.52 -1.41 -1.0 IamGold IAG dd 5.87 1.15 3.85 2.43 171.1 MarineMax HZO 21 22.05 13.56 19.35 0.93 5.0 Continued on Page R7
NASDAQ 2016 TRADING SUMMARY

Stock listings show the year-end price-to-earnings ratio, 2016 Net Pct Net Pct Net Pct Nasdaq Markets Diary
high, 2016 low, and last trade as well as the net and Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg
2016 2015 2014
percentage change from the previous year. Quotations AirMethod AIRM 12 41.50 23.75 31.85 -10.08 -24.0 AppFolio APPF dd 24.50 11.07 23.85 9.25 63.4 BJsRestaurants BJRI 22 47.55 32.24 39.30 -4.17 -9.6
include primary market trades as well as trades reported by AirTransportSvcs ATSG 31 17.29 9.05 15.96 5.88 58.3 Apple AAPL 14 118.69 89.47 115.82 10.56 10.0 BMC Stock BMCH cc 21.50 12.14 19.50 2.75 16.4 Advances 1881 1254 1462
Nasdaq OMX BATS, BATSY, BXSM (formerlyBoston), AirMedia AMCN ... 5.71 2.38 2.46 -3.13 -56.1 AppliedGenetic AGTC 15 20.13 6.35 9.35 -11.05 -54.2 BOK Fin BOKF 23 85.00 44.13 83.04 23.25 38.9
Aixtron AIXG dd 6.57 3.04 3.06 -1.30 -29.8 AppliedMaterials AMAT 21 33.68 15.44 32.27 13.60 72.8 B RileyFin RILY 45 19.45 8.59 18.45 8.55 86.4 Declines 1265 1835 1484
Chicago Stock Exchange, CBOE, EdgeA, EdgeX, IEX, ISE,
National Stock Exchange and PSX. AkamaiTech AKAM 38 71.04 39.43 66.68 14.05 26.7 AppliedMicro AMCC dd 9.05 4.93 8.25 1.88 29.5 Baidu BIDU 11 201.00 139.61 164.41 -24.63 -13.0 Unchanged 10 8 16
AkebiaTherap AKBA dd 12.74 7.00 10.41 -2.51 -19.4 AppliedOptoelec AAOI 22 27.28 8.08 23.44 6.28 36.6 Balchem BCPC 48 88.76 53.11 83.92 23.12 38.0 Total Issues 3156 3097 2962
Net Pct Akorn AKRX 15 39.46 17.57 21.83 -15.48 -41.5 ApproachRscs AREX dd 4.35 0.60 3.35 1.51 82.1 Baldwin&Lyons A BWINA 14 26.50 22.00 25.00 1.43 6.1
Stock Sym PE Hi Lo Last Chg Chg Alarm.com ALRM cc 34.43 14.00 27.83 11.15 66.8 Apptio APTI dd 24.60 15.30 18.53 -4.02 -17.8 Baldwin&Lyons B BWINB 14 27.70 22.11 25.20 1.17 4.9 Net Pct
AlaskaCommSys ALSK 52 1.97 1.30 1.64 -0.11 -6.3 AptevoTherap APVO ... 8.29 1.69 2.44 -5.56 -69.5 BallardPower BLDP dd 2.53 1.11 1.65 0.09 5.8
A AlbanyMolecular AMRI dd 19.65 12.45 18.76 -1.09 -5.5 AquinoxPharm AQXP dd 18.35 6.01 16.51 4.03 32.3 BancFirst BANF 22 94.45 51.14 93.05 34.43 58.7 Stock Sym PE Hi Lo Last Chg Chg
Alcobra ADHD dd 6.50 1.77 2.10 -4.18 -66.6 AralezPharm ARLZ dd 7.00 3.10 4.41 -2.42 -35.4 BankMutual BKMU 26 9.75 7.00 9.45 1.65 21.2 Bruker BRKR 24 29.85 19.59 21.18 -3.09 -12.7
AAON AAON 33 33.90 19.06 33.05 9.83 42.3 AlderBioPharm ALDR dd 36.48 15.82 20.80 -12.23 -37.0 AratanaTherap PETX dd 10.73 2.56 7.18 1.60 28.7 BankofCommerce BOCH 26 9.67 5.05 9.50 2.82 42.2 BrynMawrBank BMTC 35 42.45 23.92 42.15 13.43 46.8
ACADIA Pharm ACAD dd 42.49 16.64 28.84 -6.81 -19.1 AlexionPharm ALXN 75 187.59 109.12 122.35 -68.40 -35.9 ArbutusBiopharma ABUS dd 5.48 2.35 2.45 -2.00 -44.9 BankofOzarks OZRK 22 54.92 33.51 52.59 3.13 6.3 Bsquare BSQR 59 6.62 3.80 5.85 -0.24 -3.9
ACI Worldwide ACIW 21 23.20 15.07 18.15 -3.25 -15.2 Alico ALCO 32 38.56 20.99 27.15 -11.54 -29.8 ArcadiaBiosci RKDA dd 3.42 0.86 0.92 -2.12 -69.7 BankFinancial BFIN 39 15.12 11.38 14.82 2.19 17.3 BuffWildWngs BWLD 28 175.10 122.25 154.40 -5.25 -3.3
AC Immune ACIU dd 19.97 10.36 12.98 -2.68 -17.1 AlignTech ALGN 41 102.10 57.31 96.13 30.28 46.0 ArcBest ARCB 33 33.95 14.85 27.65 6.26 29.3 BankwellFin BWFG 21 34.80 18.48 32.50 12.65 63.7 BuildersFirstSrc BLDR 10 14.09 6.50 10.97 -0.11 -1.0
AEP Ind AEPI 15 120.35 56.89 116.10 38.95 50.5 AlimeraSciences ALIM dd 5.15 1.01 1.08 -1.34 -55.4 ArchCapital ACGL 16 88.41 59.83 86.29 16.54 23.7 Banner BANR 27 56.50 35.39 55.81 9.95 21.7 BurconNutrasci BUR dd 3.99 1.26 1.97 0.45 29.8
AGNC Invt AGNC 39 20.43 15.69 18.13 0.79 4.6 Alkermes ALKS dd 78.88 27.14 55.58 -23.80 -30.0 ArchrockPtrs APLP dd 17.47 5.36 16.04 3.73 30.3 Baozun BZUN cc 18.61 4.83 12.07 3.86 47.0
ALJ Regional ALJJ 15 5.50 3.75 4.39 -0.20 -4.4 AllegianceBcshs ABTX 22 37.00 14.38 36.15 12.50 52.9 ArcticCat ACAT dd 19.82 8.90 15.02 -1.36 -8.3 BarrettBus BBSI 22 66.93 22.55 64.10 20.56 47.2 C
AMAG Pharm AMAG cc 36.83 17.92 34.80 4.61 15.3 AllegiantTravel ALGT 12 183.91 121.70 166.40 -1.43 -0.9 Ardelyx ARDX dd 17.90 6.36 14.20 -3.92 -21.6 BassettFurniture BSET 20 33.68 22.42 30.40 5.32 21.2
AMC Networks AMCX 11 78.13 46.16 52.34 -22.34 -29.9 AllianceHealth AIQ 44 9.85 5.73 9.60 0.42 4.6 ArenaPharm ARNA dd 2.16 1.30 1.42 -0.48 -25.3 Bazaarvoice BV dd 6.13 2.82 4.85 0.47 10.7 Cadiz CDZI dd 12.70 4.03 12.50 7.24 137.6
Amerisafe AMSF 15 66.30 46.88 62.35 11.45 22.5 AllianceHldgsGP AHGP 11 32.70 12.05 28.10 7.92 39.2 ArgoGroup AGII 13 67.60 41.55 65.90 11.50 21.1 BeaconRoof BECN 31 49.32 32.24 46.07 4.89 11.9 CA CA 17 34.99 25.18 31.77 3.21 11.2
A-MarkPrecMetals AMRK 25 22.07 14.02 19.50 0.65 3.4 AllianceResource ARLP 12 26.65 9.95 22.45 8.96 66.4 ArgosTherap ARGS dd 13.97 1.83 4.90 2.59 112.1 BearStateFin BSF 25 10.95 7.61 10.15 -0.68 -6.3 C&F Fin CFFI 14 53.40 37.02 49.85 10.85 27.8
ANI Pham ANIP 88 70.92 26.80 60.62 15.49 34.3 AlliedMotionTech AMOT 24 25.93 15.46 21.39 -4.79 -18.3 AriadPharm ARIA dd 14.42 4.37 12.44 6.19 99.0 BeasleyBroadcast BBGI 15 7.70 3.05 6.15 2.56 71.3 CB FinSvcs CBFV 14 26.90 19.00 25.85 2.93 12.8
Ansys ANSS 31 98.99 80.51 92.49 -0.01 ... AllotComms ALLT dd 5.89 4.24 4.79 -1.03 -17.7 Arotech ARTX dd 4.34 1.92 3.50 1.46 71.6 BedBath BBBY 8 52.71 38.60 40.64 -7.61 -15.8 CBOE Holdings CBOE 32 77.29 58.43 73.89 8.99 13.9
ARKRestaurants ARKR 17 24.80 20.00 24.25 1.02 4.4 AllscriptsHlthcr MDRX dd 15.17 9.80 10.21 -5.17 -33.6 ArQule ARQL dd 2.19 1.20 1.26 -0.91 -41.9 n BeiGene BGNE dd 37.89 22.51 30.36 2.04 7.2 CDK Global CDK 36 61.25 39.67 59.69 12.22 25.7
ARRIS Intl ARRS dd 31.50 20.05 30.13 -0.44 -1.4 AlmostFamily AFAM 27 45.45 34.08 44.10 5.87 15.4 ArrayBioPharma ARRY dd 9.00 2.38 8.79 4.57 108.3 BelFuse A BELFA dd 26.97 9.69 25.31 10.65 72.6 CDW CDW 21 55.47 30.40 52.09 10.05 23.9
ASBBancorp ASBB 20 29.75 24.07 29.75 3.79 14.6 AlnylamPharm ALNY dd 98.00 31.38 37.44 -56.70 -60.2 ArrowFinancial AROW 20 41.70 23.83 40.50 14.12 53.5 BelFuse B BELFB dd 33.60 13.31 30.90 13.61 78.7 CEVA CEVA 70 36.81 17.11 33.55 10.19 43.6
ASML ASML ... 112.66 77.17 112.20 23.43 26.4 Alpha&OmegaSem AOSL cc 23.93 8.02 21.27 12.08 131.4 ArrowheadPharm ARWR dd 8.22 1.20 1.55 -4.60 -74.8 BellerophonTherap BLPH dd 4.58 0.43 0.52 -2.44 -82.4 CH Robinson CHRW 20 77.89 60.31 73.26 11.24 18.1
ATA ATAI cc 7.32 3.30 3.72 -2.71 -42.2 Alphabet A GOOGL 29839.00 672.66 792.45 14.44 1.9 ArtesianRscs A ARTNA 24 35.00 25.17 31.94 4.24 15.3 BellicumPharm BLCM dd 23.11 7.24 13.62 -6.65 -32.8 CIM Comm CMCT 34 20.27 14.54 15.45 -0.09 -0.6
ATN Intl ATNI 95 84.29 62.70 80.13 1.90 2.4 Alphabet C GOOG 28 816.68 663.06 771.82 12.94 1.7 AscenaRetail ASNA 62 11.26 4.68 6.19 -3.66 -37.2 BeneficialBncp BNCL 59 19.00 12.30 18.40 5.08 38.1 CME Group CME 27 124.01 81.87 115.35 24.75 27.3
AVEO Pharma AVEO dd 1.27 0.54 0.54 -0.72 -57.1 Alphatec ATEC dd 9.65 1.80 3.21 -0.39 -10.9 AscendisPharma ASND dd 21.79 11.92 20.24 1.92 10.5 Benefitfocus BNFT dd 44.98 21.04 29.70 -6.69 -18.4 CM Finance CMFN dd 10.50 6.33 9.30 -0.72 -7.2
AXT AXTI 80 5.97 2.28 4.80 2.32 93.5 AltisourcePortf ASPS cc 36.73 17.33 26.59 -1.22 -4.4 AscentCapital A ASCMA dd 26.16 7.77 16.26 -0.46 -2.8 Big5SportingGoods BGFV 28 20.35 8.15 17.35 7.36 73.7 CNB FinPA CCNE 18 28.43 16.51 26.74 8.71 48.3
Abaxis ABAX 35 55.95 37.71 52.77 -2.91 -5.2 AltraIndlMotion AIMC 33 39.85 20.55 36.90 11.82 47.1 AsiaPacificWire APWC dd 2.85 1.09 2.80 1.27 83.0 Bio-Techne TECH 39 117.42 79.95 102.83 12.83 14.3 CPI Card PMTS 30 11.10 3.25 4.15 -6.51 -61.1
Abiomed ABMD cc 132.95 67.81 112.68 22.40 24.8 Amarin AMRN dd 3.65 1.24 3.08 1.19 63.0 AspenTech AZPN 32 55.39 29.25 54.68 16.92 44.8 BioblastPharma ORPN dd 7.95 0.92 1.04 -2.83 -73.1 CRA Intl CRAI 34 37.48 16.25 36.60 17.95 96.2
AcaciaComms ACIA ... 128.73 27.05 61.75 30.80 99.5 Amaya AYA 37 17.57 9.67 14.15 1.56 12.4 AstaFunding ASFI 15 11.97 6.82 9.80 1.85 23.3 BioCryst BCRX dd 10.24 1.63 6.33 -3.99 -38.7 CRISPR Therap CRSP ... 23.97 13.75 20.26 6.17 43.8
AcaciaResearch ACTG dd 7.67 2.82 6.50 2.21 51.5 Amazon.com AMZN cc 847.21474.00 749.87 73.98 10.9 AstecIndustries ASTE 33 71.88 33.08 67.46 26.76 65.7 Biogen BIIB 16 333.65 223.02 283.58 -22.77 -7.4 CSG Systems CSGS 22 49.85 32.45 48.40 12.42 34.5
AcadiaHealthcare ACHC cc 65.89 32.54 33.10 -29.36 -47.0 AmbacFin AMBC 2 27.25 11.92 22.50 8.41 59.7 Astronics ATRO 17 41.03 21.05 33.84 -0.79 -2.3 BioMarinPharm BMRN dd 105.61 62.12 82.84 -21.92 -20.9 CSI Compressco CCLP dd 11.81 3.74 9.73 -1.67 -14.6
AcceleronPharma XLRN dd 48.05 22.67 25.52 -23.24 -47.7 AmbacFinWt AMBCW ... 15.50 4.29 12.25 5.60 84.2 AstroNova ALOT 25 16.41 11.18 14.25 -0.20 -1.4 BioScrip BIOS dd 3.43 0.98 1.04 -0.71 -40.6 CSP CSPI 15 11.95 5.36 10.58 3.64 52.4
AccessNational ANCX 17 28.91 16.26 27.76 7.30 35.7 Ambarella AMBA 42 74.95 33.39 54.13 -1.61 -2.9 AtaraBiotherap ATRA dd 26.00 12.45 14.20 -12.21 -46.2 BioSpecificsTech BSTC 37 55.83 30.70 55.70 12.73 29.6 CSW Industrials CSWI 49 39.25 27.84 36.85 -0.82 -2.2
Accuray ARAY dd 6.75 4.45 4.60 -2.15 -31.9 Amdocs DOX 21 61.33 50.05 58.25 3.68 6.7 AthenaHealth ATHN cc 167.46 90.11 105.17 -55.80 -34.7 BioTelemetry BEAT 43 24.10 8.74 22.35 10.67 91.4 CSX CSX 20 37.42 21.32 35.93 9.98 38.5
AcelRxPharm ACRX dd 4.50 2.40 2.60 -1.25 -32.5 Amedisys AMED 35 55.16 31.16 42.63 3.31 8.4 AtlanticAmerican AAME 77 5.00 3.06 4.10 -0.89 -17.8 BlackBox BBOX dd 17.05 6.51 15.25 5.72 60.0 CVB Fin CVBF 24 23.23 14.02 22.93 6.01 35.5
Aceto ACET 22 26.90 15.69 21.97 -5.01 -18.6 Amerco UHAL 16 399.16 305.66 369.59 -19.91 -5.1 AtlCapitalBcshs ACBI cc 19.25 11.55 19.00 4.02 26.8 BlackDiamond BDE dd 6.85 3.85 5.35 0.93 21.0 CabotMicro CCMP 26 64.45 34.53 63.17 19.39 44.3
Achaogen AKAO dd 16.20 2.59 13.02 7.28 126.8 AmerFirstMultifam ATAX 16 6.11 4.27 5.40 0.34 6.7 AtlanticCoastFin ACFC 21 7.35 5.16 6.80 0.94 16.0 Blackbaud BLKB cc 71.76 49.89 64.00 -1.86 -2.8 CadenceDesign CDNS 30 28.00 18.32 25.22 4.41 21.2
AchillionPharm ACHN dd 10.66 3.78 4.13 -6.66 -61.7 AmericanAirlines AAL 5 50.64 24.85 46.69 4.34 10.2 AtlanticaYield ABY dd 21.32 13.11 19.35 0.06 0.3 BlackBerry BBRY dd 9.22 6.23 6.89 -2.39 -25.8 CaesarsAcqn CACQ 3 13.53 4.48 13.50 6.69 98.2
AclarisTherap ACRS dd 31.80 14.12 27.14 0.20 0.7 AmNtlBcsh AMNB 18 36.25 22.29 34.80 9.19 35.9 Atlanticus ATLC dd 3.60 2.59 2.84 -0.36 -11.3 BlackhawkNtwk HAWK 99 43.67 28.88 37.67 -6.54 -14.8 CaesarsEnt CZR dd 10.84 5.39 8.50 0.61 7.7
AcordaThera ACOR dd 42.66 16.40 18.80 -23.98 -56.1 AmericanNatlIns ANAT 18 131.99 91.20 124.61 22.34 21.8 AtlasAir AAWW dd 57.77 31.99 52.15 10.81 26.1 BlackLine BL dd 28.77 21.66 27.63 3.93 16.6 Caesarstone CSTE 13 43.50 26.35 28.65 -14.69 -33.9
ActivisionBliz ATVI 82 45.55 26.49 36.11 -2.60 -6.7 AmericanPubEdu APEI 15 30.79 13.80 24.55 5.94 31.9 Atlassian TEAM dd 35.16 16.92 24.08 -6.00 -19.9 BloominBrands BLMN 34 19.99 14.91 18.03 1.14 6.7 CafePress PRSS dd 3.99 2.80 2.94 -0.90 -23.4
Actua ACTA dd 15.28 7.28 14.00 2.55 22.3 AmRailcarInd ARII 10 51.10 35.43 45.29 -0.99 -2.1 AtriCure ATRC dd 22.41 13.44 19.57 -2.87 -12.8 Blucora BCOR dd 15.85 4.69 14.75 4.95 50.5 Cal-MaineFoods CALM cc 55.43 35.65 44.17 -2.17 -4.7
Acxiom ACXM cc 27.70 17.32 26.80 5.88 28.1 AmRvrBksh AMRB 18 15.99 9.69 15.11 4.53 42.8 Atrion ATRI 33 522.05350.00 507.20 126.00 33.1 BlueBird BLBD cc 18.05 7.61 15.45 5.31 52.4 CalamosAsstMgmt CLMS cc 9.70 5.94 8.55 -1.13 -11.7
AdamasPharm ADMS dd 28.23 12.02 16.90 -11.42 -40.3 AmerSoftware AMSWA 40 11.94 8.56 10.33 0.15 1.5 aTyrPharma LIFE dd 9.63 2.10 2.15 -7.68 -78.1 BlueBuffaloPet BUFF 45 27.50 15.19 24.04 5.33 28.5 CalAmp CAMP cc 20.49 12.13 14.50 -5.43 -27.2
AdaptimmuneTher ADAP dd 12.85 3.76 4.05 -8.01 -66.4 AmerSupercond AMSC dd 12.50 5.28 7.37 1.00 15.7 AuburnNatlBncp AUBN 14 31.50 24.06 31.31 1.69 5.7 BlueHillsBancorp BHBK 67 19.00 13.22 18.75 3.44 22.5 CalavoGrowers CVGW 28 71.48 46.56 61.40 12.40 25.3
AddusHomeCare ADUS 51 36.30 15.33 35.05 11.77 50.6 AmericanWoodmark AMWD 19 89.57 57.04 75.25 -4.73 -5.9 AudentesTherap BOLD ... 20.74 13.06 18.27 3.14 20.8 BlueNile NILE 50 41.39 22.33 40.63 3.50 9.4 CalFstNBcp CFNB 18 16.30 12.76 15.65 2.43 18.4
ADDvantage AEY 79 2.31 1.57 1.77 -0.04 -2.2 AmerCarMart CRMT 19 47.75 19.48 43.75 17.06 63.9 AudioCodes AUDC 58 6.50 3.66 6.35 2.45 62.8 bluebirdbio BLUE dd 79.70 35.37 61.70 -2.52 -3.9 CalitheraBiosci CALA dd 7.84 2.20 3.25 -4.41 -57.6
AdobeSystems ADBE 44 111.09 71.27 102.95 9.01 9.6 AmerisBancorp ABCB 22 47.70 24.96 43.60 9.61 28.3 AuriniaPharm AUPH dd 5.69 1.42 2.10 -0.37 -15.0 BlueknightEner BKEP dd 7.00 3.81 6.85 1.23 21.9 CallidusSoftware CALD dd 21.44 11.48 16.80 -1.77 -9.5
Adtran ADTN 32 23.75 16.27 22.35 5.13 29.8 AmeriServFin ASRV 28 3.85 2.90 3.70 0.50 15.6 AurisMedical EARS dd 7.96 0.84 1.07 -3.82 -78.1 BlueprintMed BPMC dd 38.33 13.04 28.05 1.71 6.5 CalumetSpecialty CLMT dd 20.27 2.79 4.00 -15.91 -79.9
AduroBiotech ADRO dd 27.38 7.26 11.40 -16.74 -59.5 Amgen AMGN 15 176.85 133.64 146.21 -16.12 -9.9 Autodesk ADSK dd 83.08 41.60 74.01 13.08 21.5 BobEvansFarms BOBE 48 55.12 35.63 53.21 14.36 37.0 CamdenNational CAC 26 45.43 24.82 44.45 15.06 51.2
AdvAcceltrApp AAAP dd 39.66 20.53 26.76 -4.51 -14.4 AmicusTherap FOLD dd 9.83 4.41 4.97 -4.73 -48.8 ADP ADP 31 103.88 76.65 102.78 18.06 21.3 BofI BOFI 15 30.27 13.47 28.55 7.50 35.6 Camtek CAMT dd 3.33 1.58 3.29 1.12 51.6
AdvEmissions ADES 11 9.89 3.20 9.24 2.10 29.4 AmkorTech AMKR 47 12.48 4.09 10.55 4.47 73.5 AvalancheBiotech ADVM dd 9.37 2.74 2.90 -6.62 -69.5 BoingoWireless WIFI dd 12.95 5.40 12.19 5.57 84.1 CanadianSolar CSIQ 5 28.80 10.25 12.18 -16.78 -57.9
AdvEnergyInds AEIS 18 57.29 24.25 54.75 26.52 93.9 AmphastarPharms AMPH 42 21.75 10.50 18.42 4.19 29.4 n AveXis AVXS dd 72.72 16.11 47.73 29.68 164.4 Bojangles' BOJA 19 20.15 13.39 18.65 2.78 17.5 CanterburyPark CPHC 10 11.21 9.43 10.05 -0.20 -2.0
AdvisoryBoard ABCO dd 49.16 18.87 33.25 -16.36 -33.0 AmtechSystems ASYS dd 7.83 4.00 4.25 -2.01 -32.1 AviatNetworks AVNW dd 15.17 5.71 13.83 4.62 50.1 BonTonStores BONT dd 3.00 1.30 1.47 -0.63 -30.0 CapellaEducation CPLA 27 90.40 39.06 87.80 41.58 90.0
Aegion AEGN dd 26.14 16.00 23.70 4.39 22.7 AmTrustFinSvcs AFSI 12 30.90 23.55 27.38 -3.41 -11.1 AvidTechnology AVID 4 9.78 3.99 4.40 -2.89 -39.6 BostonPrivFin BPFH 21 16.90 9.34 16.55 5.21 45.9 CapitalBankFin CBF 28 40.00 27.12 39.25 7.27 22.7
n AegleaBioTherap AGLE dd 12.75 3.89 4.35 -5.42 -55.5 Amyris AMRS dd 1.74 0.31 0.73 -0.89 -54.9 Avinger AVGR dd 22.46 3.35 3.70 -19.01 -83.7 BostonPrvtFnl Wt BPFHW ... 10.75 3.29 10.45 5.82 125.7
Aemetis AMTX dd 2.94 1.01 1.39 -1.51 -52.1 AnalogDevices ADI 26 74.87 47.24 72.62 17.30 31.3 AviragenTherap AVIR dd 2.27 1.14 1.23 -0.71 -36.6 Bottomline EPAY dd 31.52 18.48 25.02 -4.71 -15.8 CapitalCityBank CCBG 32 23.15 12.83 20.48 5.13 33.4
AeriePharm AERI dd 43.40 10.82 37.85 13.50 55.4 Analogic ALOG 78 95.85 68.71 82.95 0.35 0.4 AvisBudget CAR 18 41.53 21.73 36.68 0.39 1.1 BravoBrioRestr BBRG dd 9.56 3.40 3.80 -5.20 -57.8 CapitalProduct CPLP 7 5.50 2.41 3.18 -2.34 -42.4
AeroVironment AVAV dd 32.44 22.16 26.83 -2.64 -9.0 AnchorBancorp ANCB 93 27.50 22.61 27.20 1.31 5.1 Aware AWRE 25 6.70 2.81 6.10 2.84 87.1 BridgeBancorp BDGE 20 38.95 26.23 37.90 7.47 24.5 CapitolFedFin CFFN 26 17.04 11.38 16.46 3.90 31.1
AeviGenomic GNMX dd 6.89 3.09 5.18 -0.84 -14.0 Andersons ANDE dd 44.90 23.25 44.70 13.07 41.3 AxcelisTechs ACLS 51 14.68 7.16 14.55 4.19 40.4 BridgfordFoods BRID 6 16.00 8.55 11.37 2.67 30.7 CapStarFin CSTR ... 22.35 15.50 21.96 6.06 38.1
Affimed AFMD dd 7.14 1.65 1.80 -5.32 -74.7 Angie'sList ANGI dd 10.76 6.32 8.23 -1.12 -12.0 Brightcove BCOV dd 13.80 4.70 8.05 1.85 29.8 CaraTherap CARA dd 17.69 4.26 9.29 -7.57 -44.9
Carbonite CARB dd 19.62 6.50 16.40 6.60 67.3
AgileTherap AGRX
Agilysys
dd 10.00
dd 12.15
5.32 5.70
8.17 10.36
-4.06
0.37
-41.6 AngioDynamics ANGO dd 17.64 9.71 16.87 4.73 39.0 B Broadcom AVGO dd 183.99 114.25 176.77 31.62 21.8 CardinalFin CFNL 23 34.75 17.51 32.79 10.04 44.1
AGYS 3.7 AnikaTherap ANIK 21 54.96 35.07 48.96 10.80 28.3 BroadSoft BSFT cc 48.40 26.99 41.25 5.89 16.7 CardiovascularSys CSII dd 27.38 7.50 24.21 9.09 60.1
AgiosPharm AGIO dd 67.74 33.50 41.73 -23.19 -35.7 AntheraPharm ANTH dd 4.90 0.64 0.65 -3.99 -86.0 BCB Bancorp BCBP 26 13.50 9.75 13.00 2.60 25.0 Broadvision BVSN dd 8.06 4.40 4.65 -1.35 -22.5 Cardtronics CATM 32 55.85 28.01 54.57 20.92 62.2
AgroFresh AGFS dd 6.95 1.96 2.65 -3.68 -58.1 ApogeeEnt APOG 20 54.32 33.67 53.56 10.05 23.1 BCommunications BCOM dd 31.86 17.99 20.18 -4.48 -18.2 BrocadeComm BRCD 24 12.53 7.40 12.49 3.31 36.1
CareDx CDNA dd 6.84 2.50 2.70 -3.70 -57.8
AgroFresh Wt AGFSW ... 1.00 0.05 0.18 -0.82 -82.0 ApolloEducation APOL dd 9.95 6.31 9.90 2.23 29.1 B/EAerospace BEAV 18 60.45 36.38 60.19 17.82 42.1 BrooklineBcp BRKL 22 16.72 9.91 16.40 4.90 42.6
AimmuneTherap AIMT dd 27.31 9.77 20.45 2.00 10.8 ApolloEnd APEN ... 32.34 9.24 12.16 -5.33 -30.5 BGC Partners BGCP 18 10.63 8.18 10.23 0.42 4.3 Brooks Auto BRKS dd 17.98 8.33 17.07 6.39 59.8 Continued on Page R8

Net Pct
Stock Sym PE Hi Lo Last Chg Chg RalphLauren RL 39 115.85 82.15 90.32 -21.16 -19.0 SnapOn SNA 19 177.86 133.09 171.27 -0.16 -0.1 Textainer TGH dd 15.98 6.90 7.45 -6.66 -47.2 Vantiv VNTV 44 60.25 42.01 59.62 12.20 25.7
Ramco-Gershenson RPT 22 20.24 15.49 16.58 -0.03 -0.2 SOQUIMICH SQM 31 32.32 14.90 28.65 9.64 50.7 Textron TXT 14 49.82 30.68 48.56 6.55 15.6 VarianMed VAR 21 106.69 73.18 89.78 8.98 11.1
OwensCorning OC 15 58.69 38.96 51.56 4.53 9.6 RangeResources RRC dd 46.96 19.21 34.36 9.75 39.6 SonicAutomotive SAH 13 24.30 15.68 22.90 0.14 0.6 ThermoFisherSci TMO 28 160.68 119.75 141.10 -0.75 -0.5 VectorGroup VGR 39 22.95 19.33 22.74 0.27 1.2
Owens-Illinois OI 10 20.33 11.58 17.41 -0.01 -0.1 RaymondJames RJF 19 74.70 39.84 69.27 11.30 19.5 SonocoProducts SON 23 55.47 36.56 52.70 11.83 28.9 ThermonGroup THR 35 21.87 13.97 19.09 2.17 12.8 Vectren VVC 21 53.33 39.43 52.15 9.73 22.9
OxfordIndustries OXM 17 77.99 52.54 60.13 -3.69 -5.8 RayonierAdvMatls RYAM 9 16.37 5.88 15.46 5.67 57.9 Sony SNE 80 34.17 19.90 28.03 3.42 13.9 ThirdPointReins TPRE 11 13.30 10.08 11.55 -1.86 -13.9 Vectrus VEC 10 34.98 12.50 23.85 2.96 14.2
Rayonier RYN 19 28.47 17.85 26.60 4.40 19.8 Sotheby's BID dd 42.66 18.86 39.86 14.10 54.7 ThomsonReuters TRI 20 45.68 33.96 43.78 5.93 15.7 Vedanta VEDL dd 14.40 3.52 12.42 6.86 123.4
PQ Raytheon RTN 19 152.58 115.73 142.00 17.47 14.0 SoJerseyInd SJI 19 34.85 22.06 33.69 10.17 43.2 ThorIndustries THO 19 108.45 47.56 100.05 43.90 78.2 VeevaSystems VEEV 89 47.95 19.97 40.70 11.85 41.1
Realogy RLGY 23 37.33 21.43 25.73 -10.94 -29.8 SouthcrossEner SXE dd 3.73 0.38 1.35 -2.21 -62.1 3DSystems DDD dd 19.76 6.00 13.29 4.60 52.9 Ventas VTR 40 76.80 46.87 62.52 6.09 10.8
PBF Energy PBF dd 38.27 19.47 27.88 -8.93 -24.3 RealtyIncome O 52 72.30 50.47 57.48 5.85 11.3 Southern SO 19 54.64 46.00 49.19 2.40 5.1 3M MMM 22 182.27 134.64 178.57 27.93 18.5 VeriFoneSystems PAY dd 29.73 14.94 17.73 -10.29 -36.7
PBF Logistics PBFX 9 23.49 15.39 18.20 -3.16 -14.8 RedHat RHT 53 82.73 59.59 69.70 -13.11 -15.8 SoCopper SCCO 37 35.01 21.55 31.94 5.82 22.3 Tidewater TDW dd 11.58 1.44 3.41 -3.55 -51.0 Veritiv VRTV 32 56.70 27.44 53.75 17.53 48.4
PG&E PCG 36 65.43 50.65 60.77 7.58 14.3 RedLionHotels RLH dd 9.40 5.45 8.35 1.34 19.1 SouthwestAirlines LUV 14 51.31 33.96 49.84 6.78 15.7 TierReit TIER dd 17.81 12.52 17.39 2.64 17.9 Verizon VZ 16 56.95 43.79 53.38 7.16 15.5
PGT Innovations PGTI 25 12.49 8.69 11.45 0.06 0.5 RedwoodTrust RWT 10 16.20 9.26 15.21 2.01 15.2 SouthwestGas SWX 24 79.58 53.51 76.62 21.46 38.9 Tiffany TIF 22 85.44 56.98 77.43 1.14 1.5 VermilionEnergy VET dd 44.95 20.31 42.17 15.03 55.4
PHH PHH dd 16.80 8.26 15.16 -1.04 -6.4 RegalBeloit RBC 23 75.60 47.77 69.25 10.73 18.3 SouthwesternEner SWN dd 15.59 5.30 10.82 3.71 52.2 Tilly's TLYS 49 15.29 5.49 13.19 6.56 98.9 Verso VRS dd 13.60 4.37 7.10 -4.90 -40.8
PJT Partners PJT dd 32.35 19.96 30.88 2.59 9.2 Regal RGC 19 24.79 16.50 20.60 1.73 9.2 Sparton SPA dd 26.43 11.19 23.85 3.86 19.3 TimeInc. TIME dd 18.10 12.23 17.85 2.18 13.9 VersumMaterials VSM ... 29.14 21.86 28.07 3.11 12.5
PLDT PHI 22 50.48 25.50 27.55 -15.20 -35.6 RegencyCtrs REG 83 85.35 65.16 68.95 0.83 1.2 SpectraEnergy SE 91 44.00 23.29 41.09 17.15 71.6 TimeWarner TWX 17 97.10 55.53 96.53 31.86 49.3 Viad VVI 20 47.40 25.90 44.10 15.87 56.2
PNC Fin PNC 16 118.57 77.40 116.96 21.65 22.7 RegionalMgmt RM 13 27.04 11.77 26.28 10.81 69.9 SpectraEnerPtrs SEP 15 50.48 39.53 45.84 -1.86 -3.9 Timken TKR 34 41.15 22.22 39.70 11.11 38.9 VinaConcha VCO 16 36.45 28.22 32.97 2.41 7.9
PNC Fin Wt PNC/WS ... 51.10 14.80 49.32 20.61 71.8 RegionsFin RF 17 14.73 7.00 14.36 4.76 49.6 SpectrumBrands SPB 21 138.95 87.65 122.33 20.53 20.2 TimkenSteel TMST dd 18.63 3.69 15.48 7.10 84.7 VinceHolding VNCE cc 8.11 3.45 4.05 -0.53 -11.6
PNM Resources PNM ... 36.15 29.22 34.30 3.73 12.2 Regis RGS dd 16.55 10.96 14.52 0.37 2.6 SpeedwayMotor TRK 25 22.04 16.62 21.67 0.95 4.6 TItanIntl TWI dd 12.14 2.50 11.21 7.27 184.5 Vipshop VIPS 25 17.41 10.21 11.01 -4.26 -27.9
POSCO PKX 14 60.13 30.97 52.55 17.19 48.6 ReinsuranceGrp RGA 12 129.28 76.96 125.83 40.28 47.1 Spire SR 19 71.20 57.10 64.55 5.14 8.7 Toll Bros TOL 14 33.48 23.75 31.00 -2.30 -6.9 Vishay VSH dd 16.75 9.96 16.20 4.15 34.4
PPG Ind PPG 30 117.00 88.37 94.76 -4.06 -4.1 RelianceSteel RS 19 87.58 50.08 79.54 21.63 37.4 SpiritAeroSys SPR 15 61.55 40.03 58.35 8.28 16.5 TootsieRoll TR 36 41.65 29.04 39.75 9.08 29.6 VishayPrecision VPG dd 19.45 10.27 18.90 7.58 67.0
PPL PPL 13 39.92 32.08 34.05 -0.08 -0.2 RenaissanceRe RNR 12 137.21 107.27 136.22 23.03 20.3 SpiritRealtyCap SRC 82 13.97 8.89 10.86 0.84 8.4 TopBuild BLD 12 39.51 23.02 35.60 4.83 15.7 VistaOutdoor VSTO 12 53.91 36.76 36.90 -7.61 -17.1
PROS PRO dd 25.66 9.01 21.52 -1.52 -6.6 ReneSola SOL dd 1.85 0.61 0.64 -1.06 -62.4 SpragueRscs SRLP 16 28.25 15.55 28.10 7.93 39.3 Torchmark TMK 17 75.07 48.47 73.76 16.60 29.0 Visteon VC 31 114.70 58.83 80.34 -34.16 -29.8
PSBusinessParks PSB 49 117.35 81.27 116.52 29.09 33.3 Renren RENN dd 3.68 1.51 1.59 -2.09 -56.8 Sprint S dd 8.98 2.18 8.42 4.80 132.6 Toro TTC 27 58.26 32.35 55.95 19.41 53.1 VitaminShoppe VSI 14 33.40 21.90 23.75 -8.95 -27.4
PVH PVH 13 115.40 64.16 90.24 16.59 22.5 RepublicServices RSG 33 58.00 41.82 57.05 13.06 29.7 Square SQ dd 15.91 8.06 13.63 0.54 4.1 TorontoDomBk TD 11 50.53 33.48 49.34 10.17 26.0 VivintSolar VSLR dd 10.16 2.16 2.55 -7.01 -73.3
PacificCoastOil ROYT 43 2.21 0.68 1.07 -0.25 -18.9 ResMed RMD 26 70.90 50.77 62.05 8.36 15.6 St.Joe JOE cc 21.90 14.27 19.00 0.49 2.6 Total TOT 30 51.36 39.05 50.97 6.02 13.4 VMware VMW 30 83.00 43.25 78.73 22.16 39.2
PacificDrilling PACD dd 11.56 2.80 4.06 -4.34 -51.7 ResoluteEnergy REN dd 42.34 2.25 41.19 36.84 846.9 StJudeMedical STJ 35 84.00 48.83 80.19 18.42 29.8 TotalSystem TSS 28 56.54 37.47 49.03 -0.77 -1.5 VoceraComm VCRA dd 20.00 10.46 18.49 6.29 51.6
PackagingCpAm PKG 18 88.41 44.32 84.82 21.77 34.5 ResoluteForest RFP dd 8.40 3.70 5.35 -2.22 -29.3 StageStores SSI dd 9.41 4.25 4.37 -4.74 -52.0 TowerIntl TOWR 4 29.05 18.75 28.35 -0.22 -0.8 Vonage VG 74 7.57 3.81 6.85 1.11 19.3
PaloAltoNtwks PANW dd 173.76 111.09 125.05 -51.09 -29.0 ResourceCapital RSO dd 13.72 7.57 8.33 -4.43 -34.7 StandardMotor SMP 21 55.37 29.69 53.22 15.17 39.9 TownsquareMedia TSQ 13 11.95 7.30 10.41 -1.55 -13.0 VornadoRealty VNO 57 108.69 78.91 104.37 4.41 4.4
PampaEnergia PAM 17 37.11 17.52 34.81 14.26 69.4 RestaurantBrands QSR 30 50.20 29.28 47.66 10.30 27.6 StandexInt SXI 23 97.55 65.53 87.85 4.70 5.7 ToyotaMotor TM 10 123.18 97.80 117.20 -5.84 -4.7 voxeljet VJET dd 6.50 2.82 2.87 -1.62 -36.1
PandoraMedia P dd 14.98 7.10 13.04 -0.37 -2.8 RestorationHdwr RH 44 78.96 24.75 30.70 -48.75 -61.4 StanleyBlackDck SWK 17 126.72 88.72 114.69 7.96 7.5 Transalta TAC cc 5.83 2.54 5.50 1.96 55.4 VoyaFinancial VOYA dd 41.17 22.75 39.22 2.31 6.3
PanhandleOil&Gas PHX dd 27.70 10.82 23.55 7.39 45.7 RetailPropofAmer RPAI cc 17.78 14.02 15.33 0.56 3.8 Stantec STN 21 27.70 20.71 25.25 0.46 1.9 TransCanada TRP dd 48.52 28.40 45.15 12.56 38.5 VulcanMaterials VMC 46 138.18 78.83 125.15 30.18 31.8
ParTechnology PAR 58 7.09 4.30 5.58 -1.15 -17.1 Revlon REV 39 38.00 24.20 29.15 1.31 4.7 StarGas SGU 19 11.30 7.25 10.76 3.32 44.6 TrancntlRlty TCI dd 12.84 8.35 12.02 1.72 16.7
ParamountGroup PGRE cc 18.28 14.23 15.99 -2.11 -11.7 RexAmerRes REX 28 102.59 44.48 98.75 44.68 82.6 Starrett A SCX dd 12.89 8.40 9.30 -0.42 -4.3 TransDigm TDG 26 294.38 180.76 248.96 20.51 9.0 W
ParkElectrochem PKE 27 19.56 13.65 18.65 3.59 23.8 RexfordIndlRealty REXR 90 23.60 15.14 23.19 6.83 41.7 Startek SRT dd 9.22 3.41 8.45 4.87 136.0 Transmontaigne TLP 21 46.45 25.08 44.27 17.51 65.4
ParkHotels PKw ... 33.40 28.44 29.90 0.90 3.1 Rexnord RXN 30 22.97 14.04 19.59 1.47 8.1 StarwoodProp STWD 15 23.46 16.69 21.95 1.39 6.8 Transocean RIG 5 16.66 7.67 14.74 2.36 19.1 WABCO WBC 31 115.15 81.66 106.15 3.89 3.8
ParkerDrilling PKD dd 3.16 0.98 2.60 0.78 42.9 ReynoldsAmer RAI 15 56.65 43.38 56.04 9.89 21.4 StateStreet STT 16 81.91 50.59 77.72 11.36 17.1 TransportadGas TGS 85 9.47 4.60 9.02 2.93 48.1 W&T Offshore WTI dd 3.50 1.23 2.77 0.46 19.9
ParkerHannifin PH 23 145.44 83.32 140.00 43.02 44.4 RiceEnergy RICE dd 29.36 7.92 21.35 10.45 95.9 Statoil STO dd 18.62 10.88 18.24 4.28 30.7 TransUnion TRU 64 35.79 20.43 30.93 3.36 12.2 WCICommunities WCIC 18 24.28 15.41 23.45 1.17 5.3
n Parkway PKY ... 26.20 16.39 22.25 4.25 23.6 RiceMidstream RMP 18 24.88 8.40 24.58 11.09 82.2 SteelPartners SPLP 5 16.49 12.86 15.50 -0.88 -5.4 Travelers TRV 12 123.09 101.23 122.42 9.56 8.5 EWEC Energy WEC 20 66.10 50.44 58.65 7.34 14.3
ParsleyEnergy PE dd 39.82 14.51 35.24 16.79 91.0 RingCentral RNG dd 25.00 13.88 20.60 -2.98 -12.6 Steelcase SCS 13 18.14 11.67 17.90 3.00 20.1 TravelportWorldwd TVPT 64 15.15 8.50 14.10 1.20 9.3 WEX WEX 58 117.14 54.42 111.60 23.20 26.2
PartyCity PRTY 14 19.10 7.53 14.20 1.29 10.0 RioTinto RIO dd 42.61 21.89 38.46 9.34 32.1 Stepan SCL 21 87.00 41.42 81.48 31.79 64.0 TrecoraResources TREC 16 14.55 8.17 13.85 1.46 11.8 WGLHoldings WGL 23 79.97 58.66 76.28 13.29 21.1
Patheon PTHN ... 31.02 24.11 28.71 3.72 14.9 RitchieBros RBA 25 39.96 21.03 34.00 9.89 41.0 Steris STE 34 75.10 61.38 67.39 -7.95 -10.6 Tredegar TG 47 25.60 11.37 24.00 10.38 76.2 WNS WNS 26 32.82 24.82 27.55 -3.64 -11.7
PatriotNational PN 11 9.95 3.56 4.65 -2.06 -30.7 RiteAid RAD 66 8.69 6.33 8.24 0.40 5.1 SterlingBancorp STL 23 24.65 13.44 23.40 7.18 44.3 TreeHouseFoods THS 42 104.53 62.64 72.19 -6.27 -8.0 W.P.Carey WPC 32 72.89 51.12 59.09 0.09 0.2
PaycomSoftware PAYC 67 52.93 22.42 45.49 7.86 20.9 RoadrunnerTrans RRTS 16 13.67 6.39 10.39 0.96 10.2 StewartInfo STC 37 48.59 30.34 46.08 8.75 23.4 TremorVideo TRMR dd 2.76 1.29 2.49 0.43 20.9 WPX Energy WPX dd 16.17 2.53 14.57 8.83 153.8
Pearson PSO dd 13.20 8.99 9.99 -0.79 -7.3 RobertHalf RHI 18 49.63 34.34 48.78 1.64 3.5 StifelFinancial SF 59 52.88 25.00 49.95 7.59 17.9 Trex TREX 31 72.21 31.11 64.40 26.36 69.3 WabashNational WNC 8 16.30 9.68 15.82 3.99 33.7
PebblebrookHotel PEB 44 31.85 20.51 29.75 1.73 6.2 Rockwell ROK 24 139.64 87.53 134.40 31.79 31.0 Stillwater SWC cc 17.50 4.99 16.11 7.54 88.0 TribuneMediaA TRCO dd 40.72 26.10 34.98 1.17 3.5 Wabtec WAB 21 89.18 60.28 83.02 11.90 16.7
PembinaPipeline PBA 30 32.31 17.88 31.32 9.56 43.9 RockwellCollins COL 17 96.55 76.03 92.76 0.46 0.5 STMicroelec STM dd 11.45 5.11 11.35 4.69 70.4 TrinaSolar TSL 5 11.09 6.91 9.30 -1.72 -15.6 Waddell&ReedFin WDR 9 28.59 15.02 19.51 -9.15 -31.9
PengrowthEnergy PGH dd 2.08 0.45 1.42 0.69 93.7 RogersComm B RCI 17 45.50 32.50 38.58 4.12 12.0 StoneEnergy SGY dd 46.58 2.70 7.15 -35.75 -83.3 TriNet TNET 35 26.64 11.10 25.62 6.27 32.4 WageWorks WAGE cc 75.28 38.99 72.50 27.13 59.8
PennWestPetrol PWE dd 1.97 0.48 1.77 0.93 111.6 Rogers ROG 33 78.35 41.92 76.81 25.24 48.9 StonegateMtg SGM dd 6.28 3.16 5.97 0.52 9.5 TrinityIndustries TRN 9 29.31 14.94 27.76 3.74 15.6 Walker&Dunlop WD 10 32.43 19.50 31.20 2.39 8.3
PenneyJC JCP dd 11.99 6.00 8.31 1.65 24.8 Rollins ROL 45 34.24 23.69 33.78 7.88 30.4 StoneMorPtrs STON dd 29.69 7.74 8.91 -17.82 -66.7 Trinseo TSE 10 62.30 21.92 59.30 31.10 110.3 Wal-Mart WMT 15 75.19 60.20 69.12 7.82 12.8
PA Reit PEI dd 25.67 16.42 18.96 -2.91 -13.3 RoperTech ROP 27 189.44 155.79 183.08 -6.71 -3.5 Stoneridge SRI 14 19.20 10.51 17.69 2.89 19.5 Triple-S Mgmt GTS ... 27.70 18.62 20.70 -3.21 -13.4 WalterInvMgmt WAC dd 16.00 2.24 4.75 -9.47 -66.6
PennyMacFinS PFSI 7 19.35 10.48 16.65 1.29 8.4 RosettaStone RST dd 9.22 6.17 8.91 2.22 33.2 Stryker SYK 27 123.55 86.68 119.81 26.87 28.9 TritonIntl TRTN dd 21.34 8.15 15.80 -0.10 -0.6 WashingtonPrime WPG dd 14.15 7.41 10.41 -0.20 -1.9
PennyMacTr PMT 20 17.38 10.91 16.37 1.11 7.3 Rowan RDC 5 21.68 10.67 18.89 1.94 11.4 SturmRuger RGR 12 78.09 47.15 52.70 -6.91 -11.6 TriumphGroup TGI dd 40.36 22.40 26.50 -13.25 -33.3 WashingtonREIT WRE 13 34.61 23.89 32.69 5.63 20.8
PenskeAuto PAG 14 56.05 29.29 51.84 9.50 22.4 RoyalBkCanada RY 10 69.70 44.37 67.71 14.13 26.4 SuburbanPropane SPH cc 37.10 20.93 30.06 5.75 23.7 Tronox TROX dd 12.03 2.79 10.31 6.40 163.7 WasteConnections WCN 39 79.90 47.33 78.59 29.68 60.7
Pentair PNR dd 66.99 41.57 56.07 6.54 13.2 RoyalBkScotland RBS dd 8.80 3.91 5.53 -3.34 -37.7 SuffolkBancorp SCNB 26 44.70 22.88 42.82 14.47 51.0 TrueBlue TBI dd 27.57 16.50 24.65 -1.11 -4.3 WasteMgt WM 28 71.78 50.36 70.91 17.54 32.9
Penumbra PEN cc 79.49 40.23 63.80 9.99 18.6 RoyalCaribbean RCL 14 99.81 64.21 82.04 -19.17 -18.9 SumitomoMits SMFG 9 8.30 5.01 7.64 0.05 0.7 TsakosEnergy TNP 6 7.89 3.92 4.69 -3.23 -40.8 Waters WAT 22 162.53 112.00 134.39 -0.19 -0.1
PepsiCo PEP 23 110.94 93.25 104.63 4.71 4.7 RoyalDutchA RDS/A 46 56.29 35.80 54.38 8.59 18.8 SummitHotelProp INN 9 16.30 9.00 16.03 4.08 34.1 Tupperware TUP 13 66.90 42.60 52.62 -3.03 -5.4 Watsco WSO 30 159.55 106.58 148.12 30.99 26.5
PerformanceFood PFGC 36 28.13 19.95 24.00 0.86 3.7 RoyalDutchB RDS/B 49 58.49 35.95 57.97 11.93 25.9 SummitMaterials SUM 28 24.96 12.96 23.79 3.99 20.1 TurkcellIletism TKC 11 10.87 6.35 6.90 -1.59 -18.7 Watsco B WSOB 30 157.72 108.01 147.69 28.83 24.3
PerkinElmer PKI 24 57.28 39.50 52.15 -1.42 -2.7 RubiconProject RUBI 15 20.37 6.12 7.42 -9.03 -54.9 SummitMidstream SMLP dd 25.50 11.06 25.15 6.42 34.3 n TurningPoint TPB ... 16.14 6.46 12.25 2.13 21.0 WattsWater WTS dd 71.05 44.51 65.20 15.53 31.3
PermianBasin PBT 24 8.50 4.20 7.71 2.65 52.4 RubyTuesday RT dd 5.63 2.08 3.23 -2.28 -41.4 SunCommunities SUI 42 85.98 62.58 76.61 8.08 11.8 TurquoiseHill TRQ 18 3.67 1.55 3.23 0.69 27.2 Wayfair W dd 49.34 27.60 35.05 -12.57 -26.4
Perrigo PRGO dd 152.36 79.72 83.23 -61.47 -42.5 RudolphTech RTEC 22 24.45 11.17 23.35 9.13 64.2 SunLifeFinancial SLF 10 39.87 25.31 38.41 7.21 23.1 TutorPerini TPC 19 30.20 10.16 28.00 11.26 67.3 WeatherfordIntl WFT dd 8.80 3.73 4.99 -3.40 -40.5
Petrobras PZE 32 7.28 4.66 7.02 1.48 26.7 RyderSystem R 14 85.42 45.12 74.44 17.61 31.0 SunCokeEnergy SXC 43 13.14 2.05 11.34 7.87 226.8 Twilio TWLO ... 70.96 23.66 28.85 0.06 0.2 WebsterFin WBS 25 55.80 30.09 54.28 17.09 46.0
PetroChina PTR cc 78.09 52.30 73.70 8.11 12.4 RyersonHolding RYI 74 19.71 2.53 13.35 8.68 185.9 SunCokeEnerPtrs SXCP 10 21.95 5.29 19.25 11.80 158.4 Twitter TWTR dd 25.25 13.72 16.30 -6.84 -29.6 WeightWatchers WTW 18 23.42 9.37 11.45 -11.35 -49.8
PetroleoBrasil PBR dd 12.55 2.71 10.11 5.81 135.1 RymanHospitality RHP 22 64.08 41.50 63.01 11.37 22.0 SuncorEnergy SU dd 33.79 18.71 32.69 6.89 26.7 TwoHarborsInv TWO 14 9.18 6.91 8.72 0.62 7.7 WeingartenRealty WRI 28 43.70 31.89 35.79 1.21 3.5
PetroleoBrasilA PBR/A dd 11.77 1.99 8.81 5.41 159.1 Sunoco SUN 19 40.00 21.01 26.89 -12.72 -32.1 TylerTech TYL 82 175.77 118.16 142.77 -31.55 -18.1 WeisMarkets WMK 29 68.40 37.14 66.84 22.54 50.9
PetroQuestEner PQ
Pfizer PFE
dd 4.51 1.32 3.31
32 37.39 28.25 32.48
1.31
0.20
65.5
0.6
S SunocoLogistics SXL
SunstoneHotelInv SHO
47
10
31.49
16.05
15.43
9.53
24.02
15.25
-1.68
2.76
-6.5
22.1
TysonFoods TSN 15 77.05 48.52 61.68 8.35 15.7
TysonFoodsUn TSNU ... 84.37 55.72 67.65 6.97 11.5
WellCareHealth WCG
WellsFargo WFC
29 141.88 69.16 137.08
14 58.02 43.55 55.11
58.87
0.75
75.3
1.4
PharMerica PMC 23 35.00 19.20 25.15 -9.85 -28.1 SAP SAP 28 92.76 71.39 86.43 7.33 9.3 SunTrustBanks STI 15 56.48 31.07 54.85 12.01 28.0 WellsFargo Wt WFC/WS ... 24.06 11.67 21.33 0.84 4.1
PhilipMorris
Phillips66
PM
PSX
22 104.20 84.46 91.49
23 90.87 71.74 86.41
3.58
4.61
4.1
5.6
S&P Global SPGI 16 128.40 78.55 107.54 8.96 9.1 SunTrustBanksWtA STI/WS/A
SunTrustBanksWtB STI/WS/B
...
...
22.67
14.00
5.76
2.50
22.50
13.28
11.49
7.48
104.4
129.0
U Welltower
WescoAircraft WAIR
HCN 39 80.19 52.80 66.93
16 15.78 9.91 14.95
-1.10
2.98
-1.6
24.9
Seacor CKH dd 73.52 41.24 71.28 18.72 35.6
Phillips66Ptrs PSXP 23 66.81 42.47 48.64 -12.76 -20.8 SINOPECShanghai SHI 7 55.40 35.50 54.13 14.54 36.7 SuperiorEnergy SPN dd 19.83 8.25 16.88 3.41 25.3 UBS Group UBS 17 19.14 11.93 15.67 -3.70 -19.1 WescoIntl WCC 32 73.40 34.00 66.55 22.87 52.4
PhoenixNewMedia FENG 19 5.98 3.11 3.14 -2.88 -47.8 SJW Group SJW 21 56.93 28.58 55.98 26.33 88.8 SuperiorIndsIntl SUP 16 32.12 16.35 26.35 7.93 43.1 UCP UCP 18 12.12 5.22 12.05 4.85 67.4 WestPharmSvcs WST 46 86.50 53.88 84.83 24.61 40.9
PhysiciansRealty DOC 86 22.03 15.41 18.96 2.10 12.5 SK Telecom SKM 11 23.17 17.52 20.90 0.75 3.7 Supervalu SVU 8 6.86 3.94 4.67 -2.11 -31.1 UDR UDR cc 38.61 32.79 36.48 -1.09 -2.9 WestarEnergy WR 24 57.50 40.01 56.35 13.94 32.9
PiedmontOfficeA PDM cc 22.28 16.93 20.91 2.03 10.8 SLGreenRealty SLG 37 120.63 80.12 107.55 -5.43 -4.8 SutherlandAsset SLD dd 16.00 12.40 13.45 -1.63 -10.8 UGI UGI 22 48.13 31.59 46.08 12.32 36.5 WestAllianceBcp WAL 20 50.72 26.60 48.71 12.85 35.8
Pier 1 PIR 31 9.68 3.73 8.54 3.45 67.8 SM Energy SM dd 43.09 6.99 34.48 14.82 75.4 SwiftTransport SWFT 20 27.18 11.74 24.36 10.54 76.3 UMH Prop UMH dd 15.50 9.00 15.05 4.93 48.7 WesternAssetMort WMC dd 11.18 8.04 10.07 -0.15 -1.5
PinnacleFoods PF 31 53.85 39.15 53.45 10.99 25.9 SPX SPXC dd 25.95 7.62 23.72 14.39 154.2 SynchronyFin SYF 14 37.31 23.25 36.27 5.86 19.3 Unitil UTL 24 46.00 34.70 45.34 9.46 26.4 WesternGasEquity WGP 42 46.38 19.21 42.35 6.06 16.7
PinnacleWest PNW 20 82.78 62.51 78.03 13.55 21.0 SPX FLOW FLOW dd 33.86 14.85 32.06 4.15 14.9 Syngenta SYT 31 89.13 68.94 79.05 0.32 0.4 USA Compression USAC dd 19.33 7.03 17.30 5.81 50.6 WesternGasPtrs WES dd 60.44 25.40 58.76 11.23 23.6
PioneerEnerSvcs PES dd 7.15 0.95 6.85 4.68 215.7 STAG Indl STAG dd 25.51 14.97 23.87 5.42 29.4 Synnex SNX 23 128.06 75.87 121.02 31.09 34.6 US Cellular USM 72 45.87 32.72 43.72 2.91 7.1 WesternRefining WNR 25 40.09 18.14 37.85 2.23 6.3
PioneerNatRscs PXD dd 195.00 103.50 180.07 54.69 43.6 StoreCapital STOR 33 31.44 22.00 24.71 1.51 6.5 SynovusFin SNV 23 41.83 25.48 41.08 8.70 26.9 USD Partners USDP 14 16.80 4.72 15.80 8.56 118.2 WesternRefinLog WNRL 18 26.57 17.35 21.35 -3.18 -13.0
PiperJaffray PJC 39 77.80 31.66 72.50 32.10 79.5 SabineRoyalty SBR 17 40.99 22.75 35.15 8.89 33.9 Sysco SYY 30 57.07 38.84 55.37 14.37 35.0 US Foods USFD 51 27.79 22.19 27.48 2.57 10.3 WesternUnion WU 13 22.26 16.02 21.72 3.81 21.3
PitneyBowes PBI 11 21.81 14.22 15.19 -5.46 -26.4 SafeBulkers SB dd 2.38 0.30 1.15 0.34 42.0 Systemax SYX dd 9.72 7.24 8.77 0.17 2.0 USG USG 4 32.26 15.85 28.88 4.59 18.9 WestlakeChem WLK 18 61.53 39.48 55.99 1.67 3.1
PlainsAllAmPipe PAA 63 33.95 14.82 32.29 9.19 39.8 SafeguardSci SFE dd 14.75 10.60 13.45 -1.06 -7.3 US PhysTherapy USPH 36 72.65 45.62 70.20 16.52 30.8 WestlakeChemPtrs WLKP 14 24.00 16.00 21.65 -0.53 -2.4
PlainsGP
PlanetFitness PLNT
PAGP 27 36.59 12.57 34.68
58 25.10 13.23 20.10
9.51
4.47
37.8
28.6
Salesforce.com CRM
SallyBeauty SBH
cc
17
84.48 52.60 68.46
32.93 23.72 26.42
-9.94
-1.47
-12.7
-5.3
T US Silica SLCA dd 58.28 13.54 56.68 37.95 202.6
UltraparPart UGP 25 24.50 12.93 20.74 5.49 36.0
WestmorelandRes WMLP
WestpacBanking WBK
dd 6.90 2.38 5.64
15 25.32 19.83 23.48
1.64
-0.75
41.0
-3.1
Plantronics PLT 26 56.43 32.13 54.76 7.34 15.5 SanJuanBasin SJT 31 7.67 4.12 6.62 2.48 59.9 TAL Education TAL 70 83.68 41.34 70.15 23.68 51.0 UnderArmour A UAA 42 47.95 29.00 29.05 -12.59 -30.2 WestRock WRK dd 53.56 26.82 50.77 9.62 23.4
PlatformSpecialty PAH dd 12.36 5.25 9.81 -3.02 -23.5 SanchezEnergy SN dd 10.14 2.06 9.03 4.72 109.5 TCF Fin TCB 17 19.97 10.37 19.59 5.47 38.7 UnderArmour C UA 37 46.20 23.51 25.17 -16.04 -38.9 Westwood WHG 25 63.99 41.40 59.99 7.90 15.2
PlyGem PGEM 14 16.90 8.58 16.25 3.71 29.6 n SandRidgeEnergy SD dd 26.85 15.75 23.55 4.05 20.8 TCF Fin Wt TCB/WS ... 3.76 1.00 3.50 1.40 66.7 Unifi UFI 17 34.70 20.71 32.63 4.48 15.9 Weyerhaeuser WY 44 33.28 22.06 30.09 0.11 0.4
PolarisIndustries PII 21 104.25 67.80 82.39 -3.56 -4.1 SandRidgeMS SDT 2 3.75 1.20 1.30 -0.93 -41.7 TC PipeLines TCP cc 60.48 34.25 58.84 9.13 18.4 Unifirst UNF 23 147.65 96.90 143.65 39.45 37.9 Whirlpool WHR 16 194.10 123.60 181.77 34.90 23.8
PolyOne POL 20 38.41 22.35 32.04 0.28 0.9 SandRidgeMS II SDR ... 2.90 1.30 1.41 -0.55 -28.1 TE Connectivity TEL 13 71.87 51.70 69.28 4.67 7.2 Unilever UN 21 48.00 38.41 41.06 -2.26 -5.2 WhiteMtnIns WTM 16 874.69 689.30 836.05 109.24 15.0
PortlandGenElec POR 21 45.21 35.27 43.33 6.96 19.1 SandRidgePermian PER 5 3.60 2.01 2.95 -0.02 -0.7 Tegna TGNA 11 25.38 17.91 21.39 -4.13 -16.2 Unilever UL 21 48.97 38.58 40.70 -2.42 -5.6 WhitestoneREIT WSR 68 16.30 9.44 14.38 2.37 19.7
PostHoldings POST dd 89.00 50.93 80.39 18.69 30.3 Sanofi SNY 23 44.50 36.81 40.44 -2.21 -5.2 Telus TU 13 34.12 24.34 31.85 4.20 15.2 UnionPacific UNP 21 106.62 67.06 103.68 25.48 32.6 WhiteWaveFoods WWAV 50 56.82 31.40 55.60 16.69 42.9
Potash POT 24 19.88 14.64 18.09 0.97 5.7 SantanderConUSA SC 7 15.93 8.54 13.50 -2.35 -14.8 Ternium TX 16 27.00 10.28 24.15 11.72 94.3 Unisys UIS dd 16.70 6.72 14.95 3.90 35.3 WhitingPetrol WLL dd 14.44 3.35 12.02 2.58 27.3
Praxair PX 22 125.00 95.60 117.19 14.79 14.4 Sasol SSL 20 33.31 21.07 28.59 1.77 6.6 TIM Part TSU 24 14.31 7.08 11.80 3.32 39.2 Unit UNT dd 28.51 3.90 26.87 14.67 120.2 WildHorseResource WRD ... 16.48 14.36 14.60 -0.46 -3.1
PrecisionDrilling PDS dd 6.25 2.43 5.45 1.51 38.3 SaulCenters BFS 44 68.75 46.46 66.61 15.34 29.9 TJX TJX 22 83.64 65.64 75.13 4.22 6.0 UnitedContinental UAL 9 76.80 37.41 72.88 15.58 27.2 Wiley A JW/A 36 58.86 39.88 54.50 9.47 21.0
PrefApartment APTS dd 15.39 10.51 14.91 1.83 14.0 Scana SCG 18 76.41 59.46 73.28 12.79 21.1 TRC Cos TRR dd 11.00 5.79 10.60 1.35 14.6 UnitedMicro UMC 17 2.14 1.64 1.75 -0.13 -6.9 Wiley B JW/B 36 58.99 40.18 54.67 9.27 20.4
PrestigeBrands PBH 40 58.09 43.63 52.10 0.62 1.2 Schlumberger SLB dd 87.00 59.60 83.95 14.20 20.4 TRI Pointe TPH 8 14.20 8.83 11.48 -1.19 -9.4 UPS B UPS 20 120.44 87.30 114.64 18.41 19.1 Willbros WG dd 3.43 1.11 3.24 0.55 20.4
PretiumResources PVG dd 12.41 4.00 8.24 3.20 63.5 SchwabC SCHW 32 40.58 21.51 39.47 6.54 19.9 TableauSoftware DATA dd 94.72 36.60 42.15 -52.07 -55.3 UnitedRentals URI 16 109.90 41.90 105.58 33.04 45.5 WilliamLyonHomes WLH 12 21.92 7.61 19.03 2.53 15.3
Primerica PRI 16 73.05 37.09 69.15 21.92 46.4 SchweitzerMaud SWM 16 47.00 29.02 45.53 3.54 8.4 TahoeResources TAHO dd 17.01 6.47 9.42 0.75 8.7 US Bancorp USB 16 52.68 37.07 51.37 8.70 20.4 Williams WMB dd 32.21 10.22 31.14 5.44 21.2
PrimeroMining PPP dd 2.73 0.70 0.79 -1.49 -65.5 ScienceApplicat SAIC 28 89.25 39.76 84.80 39.02 85.2 TailoredBrands TLRD dd 28.76 9.95 25.55 10.87 74.0 USBrentOilFd BNO ... 15.92 8.80 15.68 3.44 28.1 WilliamsPartners WPZ dd 40.36 12.69 38.03 10.18 36.6
PrincipalFin PFG 14 61.34 33.09 57.86 12.88 28.6 ScorpioBulkers SALT dd 9.87 1.79 5.05 -4.84 -48.9 TaiwanSemicon TSM 16 31.61 20.45 28.75 6.00 26.4 USDieselHeatingOil UHN ... 16.87 9.47 16.78 4.33 34.8 Williams-Sonoma WSM 14 61.97 45.96 48.39 -10.02 -17.2
ProAssurance PRA 23 63.53 45.78 56.20 7.67 15.8 ScorpioTankers STNG 24 7.99 3.61 4.53 -3.49 -43.5 TallgrassEnerGP TEGP 36 27.29 9.66 26.80 10.83 67.8 USGasolineFd UGA ... 31.87 20.24 31.32 2.06 7.0 Winnebago WGO 18 39.30 15.41 31.65 11.75 59.0
Procter&Gamble PG 23 90.33 74.46 84.08 4.67 5.9 ScottsMiracleGro SMG 35 98.82 62.20 95.55 31.04 48.1 TallgrassEnPtrs TEP 22 50.78 25.82 47.45 6.24 15.1 US NatGas UNG ... 9.73 5.78 9.34 0.67 7.7 Wipro WIT 18 13.08 9.09 9.68 -1.86 -16.1
Progressive PGR 21 35.95 29.32 35.50 3.70 11.6 ScrippsEW SSP cc 19.61 12.16 19.33 0.33 1.7 Tanger SKT 12 42.20 29.45 35.78 3.08 9.4 UnitedStatesOilFd USO ... 12.45 7.67 11.72 0.72 6.5 WolverineWwide WWW 22 25.54 14.74 21.95 5.24 31.4
Prologis PLD 32 54.87 35.25 52.79 9.87 23.0 SeabridgeGold SA dd 15.88 5.46 8.15 -0.14 -1.7 TargaResources TRGP dd 59.35 14.55 56.07 29.01 107.2 UntdStsShrtOil DNO ... 111.14 60.82 61.96 -19.47 -23.9 WooriBank WF 7 36.00 19.99 32.00 9.40 41.6
ProsperityBcshs PB 18 73.67 33.57 71.78 23.92 50.0 SeaDrill SDRL dd 7.49 1.57 3.41 0.02 0.6 Target TGT 13 84.14 65.50 72.23 -0.38 -0.5 US Steel X dd 39.14 6.15 33.01 25.03 313.7 Workday WDAY dd 93.35 47.32 66.09 -13.59 -17.1
ProtoLabs PRLB 30 82.06 43.10 51.35 -12.34 -19.4 SeadrillPartners SDLP 1 6.45 1.70 4.20 0.55 15.1 TaroPharm TARO 8 155.22 92.28 105.27 -49.28 -31.9 US12mthNtlGas UNL ... 11.93 7.80 11.69 1.99 20.6 Workiva WK dd 19.04 10.91 13.65 -3.92 -22.3
ProvidentFinSvcs PFS 21 28.73 17.71 28.30 8.15 40.4 SealedAir SEE 21 52.83 38.02 45.34 0.74 1.7 TataMotors TTM 13 44.79 20.00 34.39 4.92 16.7 US12moOilFd USL ... 20.50 12.99 20.40 3.38 19.9 WorldFuelSvcs INT 18 51.01 35.13 45.91 7.45 19.4
PrudentialFin PRU 10 108.29 57.19 104.06 22.65 27.8 Seaspan SSW dd 20.00 8.08 9.14 -6.67 -42.2 TaubmanCtrs TCO 43 81.68 63.32 73.93 -2.79 -3.6 UnitedTech UTX 72 111.69 83.39 109.62 13.55 14.1 WorldPointTerm WPT 16 17.65 11.80 16.55 3.15 23.5
Prudential PUK 19 43.51 29.14 39.79 -5.29 -11.7 SeaWorldEnt SEAS dd 21.84 11.77 18.93 -0.76 -3.9 TaylorMorrison TMHC 12 21.61 10.33 19.26 3.26 20.4 UnitedHealth UNH 24 164.00 107.51 160.04 42.40 36.0 WW Ent WWE 59 21.55 14.20 18.40 0.56 3.1
PublicServiceEnt PEG 17 47.41 37.85 43.88 5.19 13.4 SelectMedical SEM 14 14.30 7.33 13.25 1.34 11.3 TeamHealth TMH cc 49.50 30.83 43.45 -0.44 -1.0 Univar UNVR dd 28.87 10.65 28.37 11.36 66.8 WorthingtonInds WOR 17 62.44 25.50 47.44 17.30 57.4
PublicStorage PSA 34 277.60 200.65 223.50 -24.20 -9.8 Semgroup SEMG dd 43.20 13.98 41.75 12.89 44.7 Team TISI cc 39.60 21.61 39.25 7.29 22.8 UniversalAmer UAM dd 10.12 5.55 9.95 2.95 42.1 Wyndham WYN 15 81.08 60.59 76.37 3.72 5.1
PulteGroup PHM 12 22.40 14.61 18.38 0.56 3.1 SemicondctrMfg SMI 2 7.74 3.84 7.62 2.57 50.9 TeckRscsB TECK dd 33.76 2.56 20.03 16.17 418.9 Universal UVV 17 64.20 49.95 63.75 7.67 13.7
PumaBiotech PBYI
PureStorage PSTG
dd 77.99 19.74 30.70
dd 16.40 9.62 11.31
-47.70
-4.26
-60.8
-27.4
SempraEnergy SRE
SensataTech ST
19
16
114.66 86.72 100.64
45.60 29.91 38.95
6.63
-7.11
7.1
-15.4
Teekay
TeekayLNG un TGP
TK dd 11.85 4.37
9 16.94 7.92
8.03
14.45
-1.84
1.30
-18.6
9.9
UniversalHealth UHT 51 66.00 45.41 65.59 15.58 31.2
UniversalHealthB UHS 15 139.77 99.72 106.38 -13.11 -11.0
XYZ
PzenaInvtMgmt PZN 26 11.48 5.91 11.11 2.51 29.2 SensientTech SXT 31 83.38 52.69 78.58 15.76 25.1 TeekayOffshore TOO dd 7.25 2.30 5.06 -1.42 -21.9 UnivInsurance UVE 9 28.60 15.86 28.40 5.22 22.5 XL Group XL ... 38.70 30.33 37.26 -1.92 -4.9
QEP Resources QEP dd 21.12 8.54 18.41 5.01 37.4 SequansComms SQNS dd 3.00 1.53 1.87 -0.23 -11.0 TeekayTankers TNK 3 6.89 1.90 2.26 -4.62 -67.2 UnvlTechInst UTI dd 5.38 1.42 2.91 -1.75 -37.6 XO Group XOXO 78 20.89 13.63 19.45 3.39 21.1
QTS Realty QTS cc 59.41 40.50 49.65 4.54 10.1 SeritageGrowth SRG dd 57.31 36.28 42.71 2.49 6.2 TejonRanch TRC cc 27.99 16.85 25.43 6.28 32.8 UnumGroup UNM 12 45.01 23.99 43.93 10.64 32.0 XPO Logistics XPO dd 49.86 18.04 43.16 15.91 58.4
Q2Holdings QTWO dd 32.85 16.43 28.85 2.48 9.4 ServiceCorp SCI 31 28.86 20.21 28.40 2.38 9.1 Teladoc TDOC dd 20.80 9.08 16.50 -1.46 -8.1 UrbanEdgeProp UE 32 30.29 21.77 27.51 4.06 17.3 Xactly XTLY dd 16.10 4.68 11.00 2.47 29.0
QuadGraphics QUAD dd 29.50 7.32 26.88 17.58 189.0 ServiceMaster SERV 37 42.21 32.41 37.67 -1.57 -4.0 TelecomArgentina TEO 15 19.99 14.03 18.17 2.10 13.1 UrstadtBiddle UBP 36 22.37 16.62 19.09 1.29 7.2 XcelEnergy XEL 19 45.42 35.19 40.70 4.79 13.3
QuakerChemical KWR 31 139.92 68.20 127.94 50.68 65.6 ServiceNow NOW dd 89.79 45.99 74.34 -12.22 -14.1 TelecomItalia TI 17 12.35 6.95 8.89 -3.76 -29.7 UrstadtProp A UBA 44 25.43 18.27 24.11 4.87 25.3 XeniaHotels XHR 22 19.87 12.10 19.42 4.09 26.7
QualityCareProp QCP ... 24.05 11.57 15.50 -3.50 -18.4 ShakeShack SHAK 83 43.99 30.00 35.79 -3.81 -9.6 TelecomItalia A TI/A 14 10.02 5.61 7.29 -3.01 -29.2 UsanaHealth USNA 15 75.00 46.00 61.20 -2.67 -4.2 XeriumTech XRM dd 12.27 4.15 5.62 -6.23 -52.6
QuanexBldg NX dd 21.89 15.33 20.30 -0.55 -2.6 ShawComm B SJR 17 20.72 15.66 20.06 2.87 16.7 TeledyneTech TDY 23 129.36 73.66 123.00 34.30 38.7 Xerox XRX 14 11.39 8.48 8.73 -1.90 -17.9
QuantaServices PWR
Quantum QTM
51 36.85 16.77 34.85
dd 0.97 0.35 0.83
14.60
-0.10
72.1
-10.5
ShellMidstream SHLX
SherwinWilliams SHW
22
23
42.29 25.42 29.09
312.48 234.96 268.74
-12.43
9.14
-29.9
3.5
Teleflex TFX
TelefonicaBras VIV
28 188.79 125.28
21 15.69 7.71
161.15
13.38
29.70
4.35
22.6
48.2
V XeroxWi XRXw ...
XinyuanRealEst XIN 4
6.75
7.06
5.72
2.85
5.83
4.96
-0.31
1.27
-5.0
34.4
QuestDiag DGX 19 93.57 59.66 91.90 20.76 29.2 ShinhanFin SHG 8 40.92 29.08 37.64 4.05 12.1 Telefonica TEF cc 11.43 8.15 9.20 -1.86 -16.8 VEREIT VER dd 11.09 6.68 8.46 0.54 6.8 Xylem XYL 27 54.99 31.67 49.52 13.02 35.7
QuintilesIMS Q 23 81.45 55.01 76.05 7.39 10.8 ShipFinance SFL ... 16.44 9.83 14.85 -1.72 -10.4 TelekmIndonesia TLK 16 34.65 21.22 29.16 6.96 31.4 VF VFC 18 67.10 51.76 53.35 -8.90 -14.3 YPF YPF dd 22.22 12.67 16.50 0.78 5.0
QuorumHealth QHC ... 17.75 3.75 7.27 -6.98 -49.0 Shopify SHOP dd 45.45 18.48 42.87 17.07 66.2 Telephone&Data TDS 68 32.00 20.83 28.87 2.98 11.5 Visa V 28 83.96 66.12 78.02 0.47 0.6 YadkinFinancial YDKN 28 35.18 20.42 34.26 9.09 36.1
QuotientTech QUOT dd 14.36 5.00 10.75 3.93 57.6 Shutterstock SSTK 58 65.16 25.44 47.52 15.18 46.9 TempurSealy TPX 32 82.32 50.55 68.28 -2.18 -3.1 VOC Energy VOC 11 3.65 1.73 3.18 0.72 29.3 YamanaGold AUY dd 5.91 1.36 2.81 0.97 53.1
SibanyeGold SBGL 27 20.97 6.09 7.06 0.97 15.9 Tenaris TS dd 36.18 18.53 35.71 11.91 50.0 VTTI Energy VTTI 33 21.74 14.80 16.15 -4.58 -22.1 YanzhouCoal YZC 45 8.09 3.66 6.68 2.10 45.9
R SignetJewelers SIG 14 135.59 72.65 94.26 -29.43 -23.8 TenetHealthcare THC dd 34.08 14.06 14.84 -15.46 -51.0 VaalcoEnergy EGY dd 1.70 0.70 1.04 -0.56 -35.0 Yelp YELP dd 43.36 14.53 38.13 9.33 32.4
SilverBayRealty SBY dd 19.41 12.03 17.14 1.48 9.5 Tennant TNC 29 76.80 45.92 71.20 14.94 26.6 VailResorts MTN 42 169.98 114.86 161.31 33.32 26.0 YingliGreenEner YGE dd 5.30 2.48 2.60 -1.93 -42.6
RAIT Financial RAS dd 3.45 1.85 3.36 0.66 24.4 SilverSpringNtwks SSNI 13 15.40 9.55 13.31 -1.10 -7.6 Tenneco TEN 9 66.98 34.45 62.47 16.56 36.1 Vale VALE dd 9.34 2.13 7.62 4.33 131.6 Yirendai YRD 10 42.34 3.35 20.72 11.27 119.3
RELX RENX 22 18.34 14.92 16.76 -0.07 -0.4 SilverWheaton SLW cc 31.35 10.04 19.32 6.90 55.6 Teradata TDC 34 33.09 21.98 27.17 0.75 2.8 ValeantPharm VRX dd 105.93 13.00 14.52 -87.13 -85.7 YumBrands YUM 16 66.15 46.44 63.33 10.80 20.6
RELX RELX 23 19.84 16.18 17.97 0.14 0.8 SimonProperty SPG 32 229.10 173.11 177.67 -16.77 -8.6 Teradyne TER dd 26.59 17.34 25.40 4.73 22.9 ValeroEnergy VLO 14 72.49 46.88 68.32 -2.39 -3.4 YumChina YUMC ... 30.37 23.79 26.12 0.47 1.8
RE/MAX RMAX 41 56.90 30.22 56.00 18.70 50.1 SimpsonMfg SSD 24 48.41 30.25 43.75 9.60 28.1 Terex TEX 34 33.17 13.62 31.53 13.05 70.6 ValeroEnergyPtrs VLP 17 52.20 38.90 44.27 -7.34 -14.2 YuMe YUME dd 4.36 2.77 3.58 0.07 2.0
RLI RLI 24 71.46 54.27 63.13 1.38 2.2 n SiteOneLandscape SITE ... 40.97 25.49 34.73 8.06 30.2 TerraNitrogen TNH 13 127.00 84.12 102.71 1.13 1.1 Valhi VHI dd 3.80 0.85 3.46 2.12 158.2 ZTO Express ZTO 30 18.45 12.01 12.07 -4.50 -27.2
RLJ Lodging RLJ 16 25.10 16.15 24.49 2.86 13.2 SixFlags SIX 48 62.69 45.24 59.96 5.02 9.1 TerrenoRealty TRNO cc 29.08 20.44 28.49 5.87 26.0 Validus VR 11 56.41 41.73 55.01 8.72 18.8 ZayoGroup ZAYO dd 35.65 19.59 32.86 6.27 23.6
RPC RES dd 22.28 9.73 19.81 7.86 65.8 SkechersUSA SKX 14 34.27 18.81 24.58 -5.63 -18.6 Tesoro TSO 15 109.24 67.80 87.45 -17.92 -17.0 ValleyNatlBncp VLY 27 12.13 8.31 11.64 1.79 18.2 Zendesk ZEN dd 31.88 14.38 21.20 -5.24 -19.8
RPM RPM 20 55.92 36.78 53.83 9.77 22.2 Smart&FinalStores SFS 49 18.67 11.55 14.10 -4.11 -22.6 TesoroLogistics TLLP 24 51.87 35.18 50.81 0.49 1.0 ValleyNatlWt VLY/WS ... 0.27 0.03 0.22 0.07 46.7 Zhaopin ZPIN 19 16.90 13.70 15.11 -0.21 -1.4
RR Donnelley RRD 13 28.08 15.65 16.32 -4.52 -21.7 SmithAO AOS 26 51.49 30.15 47.35 9.04 23.6 TetraTech TTI dd 7.81 4.36 5.02 -2.50 -33.2 ValmontInds VMI 44 156.05 96.50 140.90 34.88 32.9 ZimmerBiomet ZBH 81 133.21 88.27 103.20 0.61 0.6
RSP Permian RSPP dd 46.44 16.74 44.62 20.23 82.9 Smith&Nephew SNN 39 35.38 26.96 30.08 -5.52 -15.5 TevaPharm TEVA 21 65.92 34.57 36.25 -29.39 -44.8 Valspar VAL 24 108.97 72.98 103.61 20.66 24.9 Zoe'sKitchen ZOES 100 41.76 20.20 23.99 -3.99 -14.3
RadianGroup RDN 13 18.45 9.29 17.98 4.59 34.3 Smucker SJM 21 157.31 117.36 128.06 4.72 3.8 TexasPacificLand TPL 68 307.79 104.06 296.77 165.85 126.7 Valvoline VVV ... 24.51 18.30 21.50 -1.60 -6.9 Zoetis ZTS 39 54.15 38.26 53.53 5.61 11.7

Net Pct
Stock Sym PE Hi Lo Last Chg Chg EastVABkshs EVBS 23 10.50 6.60 10.45 3.27 45.5 GriffinIndlRealty GRIF dd 33.32 21.95 31.73 5.71 21.9 Kongzhong KZ 10 7.58 4.70 6.94 -0.56 -7.5 NatlCineMedia NCMI 52 16.10 13.37 14.73 -0.98 -6.2
eBay EBAY 19 33.19 21.52 29.69 2.21 8.0 Grifols GRFS 19 17.40 14.07 16.07 -0.13 -0.8 Kopin KOPN dd 3.00 1.57 2.84 0.12 4.4 NationalCommerce NCOM 26 38.00 20.50 37.15 12.10 48.3
CareerEducation CECO 4 10.53 2.23 10.09 6.46 178.0 Ebix EBIX 21 63.00 28.28 57.05 24.26 74.0 Groupon GRPN dd 5.94 2.15 3.32 0.25 8.1 KornitDigital KRNT cc 14.70 8.10 12.65 1.85 17.1 NatlGeneral NGHC 21 25.40 18.04 24.99 3.13 14.3
CareTrustREIT CTRE 33 15.88 9.12 15.32 4.37 39.9 Echelon ELON dd 6.70 4.17 4.70 -0.94 -16.7 GrAeroportuario OMAB 18 53.58 33.61 34.54 -3.91 -10.2 KraftHeinz KHC 38 90.54 68.18 87.32 14.56 20.0 NatlInstruments NATI 47 31.24 25.90 30.82 2.13 7.4
Carlyle CG dd 17.97 11.25 15.25 -0.37 -2.4 EchoGlobalLog ECHO cc 28.90 18.65 25.05 4.66 22.9 GuarantyBncp GBNK 23 24.95 13.92 24.20 7.66 46.3 KratosDefense KTOS dd 8.22 2.80 7.40 3.30 80.5 NatlResearch A NRCIA 40 20.00 12.53 19.00 2.96 18.5
CarolinaBankNC CLBH 26 26.37 13.04 25.83 7.39 40.1 EchoStar SATS 23 53.79 30.86 51.39 12.28 31.4 GuarFedBcsh GFED 17 21.95 14.80 21.18 5.93 38.9 Kulicke&Soffa KLIC 24 16.88 9.63 15.95 4.28 36.7 NatlResearch B NRCIB 14 46.37 32.18 41.67 5.85 16.3
CarrizoOil CRZO dd 43.96 16.10 37.35 7.77 26.3 Ecology&Envt EEI 40 11.20 8.75 10.55 0.32 3.1 GuidanceSoftware GUID dd 7.79 3.27 7.08 1.06 17.6 KuraOncology KURA dd 8.90 2.50 5.90 -2.50 -29.8 NatlSecurity NSEC 10 20.84 13.73 17.75 2.50 16.4
CarrolsRestr TAST 29 15.30 9.60 15.25 3.51 29.9 EdgeTherap EDGE dd 13.86 6.23 12.50 ... ... GulfIslandFab GIFI dd 12.85 6.34 11.90 1.44 13.8 NatlWesternLife NWLI 10 325.90 184.60 310.80 58.86 23.4
CascadianTherap CASC
CasellaWaste CWST
dd 13.14 4.24 4.31
dd 13.41 4.97 12.41
-9.01
6.43
-67.6
107.5
EdgewaterTech EDGW
n EditasMedicine EDIT
dd 9.40 6.22 7.50
dd 43.99 12.43 16.23
-0.51
-1.97
-6.4
-10.8
Gulf Resources GURE
GulfportEnergy GPOR
2
dd
2.75
34.67
1.36
21.00
1.95
21.64
0.13 7.1
-2.93 -11.9
L NaturalAlt
NatusMedical BABY
NAII 7 14.50 6.72 11.30
28 47.24 29.54 34.80
0.96
-13.25
9.3
-27.6
CaseysGenStores CASY 22 136.22 98.80 118.88 -1.57 -1.3 EducDev EDUC 20 15.03 8.45 9.95 -1.12 -10.1 LGI Homes LGIH 9 40.47 18.74 28.73 4.40 18.1 Navient NAVI 7 17.95 8.20 16.43 4.98 43.5
CassInfoSys CASS
CatabasisPharm CATB
35 74.83 45.05 73.57
dd 8.15 3.22 3.61
22.11
-4.32
43.0
-54.5
Egalet
eHealth
EGLT
EHTH
dd 11.81 4.34 7.65
dd 15.14 6.38 10.65
-3.37
0.67
-30.6
6.7
H LHC Group LHCG
LKQ LKQ
23 46.73
20 36.35
32.04 45.70
23.95 30.65
0.41
1.02
0.9
3.4
NavigatorsGroup NAVG
NektarTherap NKTR
22 124.08 74.74 117.75
dd 19.98 10.52 12.27
31.96
-4.58
37.3
-27.2
CathayGenBncp CATY 18 38.73 25.62 38.03 6.70 21.4 EigerBioPharma EIGR dd 25.80 10.71 11.65 -10.40 -47.2 H&E Equipment HEES 22 24.29 10.12 23.25 5.77 33.0 LMI Aerospace LMIA dd 10.21 7.01 8.62 -1.45 -14.4 Neogen NEOG 64 69.09 43.79 66.00 9.48 16.8
CathayGenBncpWt CATYW ... 17.77 6.65 17.77 6.90 63.5 8Point3Energy CAFD 6 17.34 12.04 12.98 -3.16 -19.6 HDSupply HDS 8 44.20 21.26 42.51 12.48 41.6 LPL Financial LPLA 18 43.89 15.38 35.21 -7.44 -17.4 NeosTherap NEOS dd 15.20 5.30 5.85 -8.47 -59.1
CavcoIndustries CVCO 30 110.67 70.28 99.85 16.54 19.9 8x8 EGHT dd 15.89 9.01 14.30 2.85 24.9 HMN Fin HMNF 14 18.55 10.81 17.50 5.95 51.5 LSI Inds LYTS 37 13.45 8.12 9.74 -2.45 -20.1 Neothetics NEOT dd 1.62 0.53 1.12 -0.27 -19.4
Cavium CAVM dd 66.14 35.90 62.44 -3.27 -5.0 ElPolloLoco LOCO 21 15.44 10.08 12.30 -0.33 -2.6 HMS Holdings HMSY 44 24.00 10.16 18.16 5.82 47.2 LakeShoreBancorp LSBK 23 16.59 12.97 16.27 2.87 21.4 Net1UEPS UEPS 7 13.29 8.37 11.48 -2.03 -15.0
CECO Env CECE 48 14.88 5.60 13.95 6.27 81.6 ElbitImaging EMITF dd 4.04 1.83 3.41 1.40 69.7 HSN HSNI 14 55.87 30.75 34.30 -16.37 -32.3 LakeSunapeeBank LSBG 21 24.79 13.25 23.59 9.56 68.1 NetApp NTAP 32 39.00 20.66 35.27 8.74 32.9
Celgene CELG 44 127.00 93.05 115.75 -4.01 -3.3 ElbitSystems ESLT 19 105.50 79.71 101.89 13.56 15.4 HTG Molecular HTGM dd 4.68 1.82 2.24 -2.12 -48.6 LakelandBcp LBAI 21 20.05 9.72 19.50 7.71 65.4 Netease NTES 19 272.58 129.60 215.34 34.10 18.8
Celgene Rt CELGZ ... 1.61 0.99 1.03 -0.17 -14.2 EldoradoResorts ERI 6 17.00 8.94 16.95 5.95 54.1 HabitRestaurants HABT 69 24.44 13.20 17.25 -5.81 -25.2 LakelandFin LKFN 26 48.88 26.53 47.36 16.28 52.4 Netflix NFLX cc 129.29 79.95 123.80 9.42 8.2
CelldexTherap CLDX dd 15.61 2.85 3.54 -12.14 -77.4 ElectroScientific ESIO dd 7.56 4.50 5.92 0.73 14.1 HackettGroup HCKT 30 18.35 12.44 17.66 1.59 9.9 LakelandInd LAKE 54 14.00 8.00 10.40 -1.54 -12.9 Netgear NTGR 24 60.82 33.39 54.35 12.44 29.7
Cellectis CLLS dd 34.99 16.09 16.95 -14.08 -45.4 ElectronicArts EA 20 86.07 53.01 78.76 10.04 14.6 HailiangEduc HLG ... 11.35 7.35 7.35 -2.45 -25.0 LamResearch LRCX 21 110.35 63.10 105.73 26.31 33.1 NetScout NTCT dd 33.83 18.77 31.50 0.80 2.6
CellularBiomed CBMG dd 22.10 10.44 13.10 -8.39 -39.0 EFII EFII 60 50.09 35.88 43.86 -2.88 -6.2 LamarAdvertising LAMR Neurocrine NBIX
Celyad CYAD dd 59.50 16.31 17.76 -36.83 -67.5 HainCelestial HAIN 20 56.99 33.12 39.03 -1.36 -3.4 22 69.35 49.73 67.24 7.26 12.1 dd 55.94 31.25 38.70 -17.87 -31.6
ElevenBiotherap EBIO dd 5.97 0.25 1.91 -1.10 -36.5 HallmarkFin HALL 16 12.09 9.50 11.63 -0.06 -0.5 LancasterColony LANC 30 143.67 95.78 141.39 25.93 22.5 NeuroDerm NDRM dd 23.70 11.76 22.20 5.15 30.2
Cempra CEMP dd 30.20 2.55 2.80 -28.33 -91.0 Emcore EMKR 28 9.50 4.90 8.70 2.57 41.9 LNDC NY Mortgage NYMT
CenterstateBks CSFL 33 25.83 12.56 25.17 9.52 60.8 HalozymeTherap HALO dd 17.51 6.96 9.88 -7.45 -43.0 Landec dd 15.50 9.48 13.80 1.97 16.7 16 7.04 3.82 6.60 1.27 23.8
EmmisComm EMMS dd 4.33 1.70 3.39 0.83 32.4 HancockHolding HBHC 30 45.50 20.01 43.10 17.93 71.2 LandmarkBncp LARK 12 28.73 22.67 28.03 3.01 12.0 NewLinkGenetics NLNK dd 35.86 9.23 10.28 -26.11 -71.8
CentralEurMedia CETV dd 2.96 2.03 2.55 -0.14 -5.2 EmpireResorts NYNY dd 25.19 11.38 22.75 4.75 26.4 LandmarkInfrPtrs LMRK NewsCorp A NWSA
CentralGarden CENT 38 34.49 11.67 33.09 19.57 144.7 HanmiFinancial HAFC 20 35.40 18.92 34.90 11.18 47.1 cc 18.44 11.52 15.25 0.61 4.2 dd 14.68 10.21 11.46 -1.90 -14.2
EnantaPharma ENTA 30 35.06 20.39 33.50 0.48 1.5 HanwhaQCELLS HQCL 3 22.66 7.50 8.16 -13.78 -62.8 LandstarSystem LSTR 27 90.80 53.03 85.30 26.65 45.4 NewsCorp B NWS dd 15.22 10.73 11.80 -2.16 -15.5
CentralGardenA CENTA 36 32.16 11.00 30.90 17.30 127.2 EncoreCapital ECPG 13 30.40 16.09 28.65 -0.43 -1.5 LNTH NewStarFinancial NEWS
CenturyAluminum CENX dd 10.69 2.63 8.56 4.14 93.7 HarborOneBncp HONE ... 20.19 12.53 19.34 6.42 49.7 Lantheus 10 10.85 1.76 8.60 5.22 154.4 19 11.37 4.25 9.25 0.27 3.0
EncoreWire WIRE 27 46.40 32.96 43.35 6.26 16.9 Hardinge HDNG cc 13.72 7.85 11.08 1.76 18.9 LatticeSemi LSCC dd 7.99 4.02 7.36 0.89 13.8 NewtekBusSvcs NEWT 6 16.09 9.37 15.90 1.58 11.0
CenturyBancorpA CNBKA 16 62.60 38.26 60.00 16.54 38.1 EndoIntl ENDP dd 61.14 12.56 16.47 -44.75 -73.1 LawsonProducts LAWS NexstarBrdcstgA NXST
Ceragon CRNT 26 2.94 0.89 2.62 1.41 116.5 Harmonic HLIT dd 6.13 2.51 5.00 0.93 22.9 dd 25.80 15.23 23.80 0.45 1.9 20 67.20 34.65 63.30 4.60 7.8
Endocyte ECYT dd 4.33 2.52 2.55 -1.46 -36.4 HarvardBioSci HBIO dd 3.90 2.25 3.05 -0.42 -12.1 LayneChristensen LAYN dd 11.42 4.30 10.87 5.61 106.7 NexvetBiopharma NVET dd 5.70 2.61 3.73 0.32 9.4
Cerner CERN 25 67.50 47.01 47.37 -12.80 -21.3 Endologix ELGX dd 14.49 4.78 5.72 -4.18 -42.2 LegacyReserves LGCY NicholasFin NICK
CeruleanPharma CERU dd 4.33 0.63 0.71 -2.09 -74.7 Hasbro HAS 18 88.53 65.52 77.79 10.43 15.5 dd 3.89 0.61 2.12 0.37 21.1 9 12.50 8.56 11.89 0.24 2.1
EnduranceIntl EIGI dd 11.86 6.55 9.30 -1.63 -14.9 HawaiianHoldings HA 11 60.90 28.40 57.00 21.67 61.3 LegacyTexasFin LTXB 23 44.20 16.79 43.06 18.04 72.1 NivalisTherap NVLS dd 9.35 2.00 2.24 -5.50 -71.1
Cerus CERS dd 7.64 4.17 4.35 -1.97 -31.2 EnergyRecovery ERII dd 16.67 5.28 10.35 3.28 46.4 LeMaitreVascular LMAT NDLS
Changyou.com CYOU 8 30.28 15.21 21.22 -3.60 -14.5 HawaiianTelcom HCOM cc 25.79 19.00 24.78 -0.08 -0.3 46 25.87 12.03 25.34 8.09 46.9 Noodles dd 13.65 3.51 4.10 -5.59 -57.7
EnerNOC ENOC dd 7.88 2.92 6.00 2.15 55.8 Hawkins HWKN 28 54.50 30.53 53.95 18.18 50.8 LendingTree TREE 25 112.00 52.11 101.35 12.07 13.5 Nordson NDSN 24 115.69 51.89 112.05 47.90 74.7
Charles&Colvard CTHR dd 1.49 0.75 1.10 -0.02 -1.8 EnphaseEnergy ENPH dd 3.73 0.95 1.01 -2.50 -71.2 LexiconPharm LXRX NortheastBancorp NBN
ChartIndustries GTLS dd 40.74 13.27 36.02 18.06 100.6 HawthornBcsh HWBK 14 17.70 13.36 17.70 2.56 16.9 dd 19.62 7.65 13.83 0.52 3.9 16 13.95 9.56 13.10 2.60 24.8
EnsignGroup ENSG 26 23.86 17.60 22.21 -0.42 -1.9 HaynesIntl HAYN cc 48.37 25.53 42.99 6.30 17.2 LibertyBroadbandA LBRDA 12 73.90 42.03 72.46 20.81 40.3 NorthernTechsIntl NTIC dd 14.95 9.60 13.75 -0.12 -0.9
CharterComms CHTR 22 294.87 172.67 287.92 85.42 42.2 EnstarGroup ESGR 11 209.35 142.35 197.70 47.66 31.8 LibertyBroadbandC LBRDK NorthernTrust NTRS
CheckPointSftw CHKP 21 89.98 71.64 84.46 3.08 3.8 HealthInsInnov HIIQ 28 19.30 3.72 17.85 11.15 166.4 13 75.67 41.30 74.07 22.21 42.8 21 90.96 54.38 89.05 16.96 23.5
EntegraFin ENFC 22 20.60 16.11 20.60 1.24 6.4 HealthcareSvcs HCSG 43 42.18 31.50 39.17 4.30 12.3 n LibertyExpediaA LEXEA ... 45.43 39.05 39.67 -5.33 -11.8 NorthfieldBanc NFBK 38 20.59 14.31 19.97 4.05 25.4
Cheesecake CAKE 22 64.41 44.16 59.88 13.77 29.9 Entegris ENTG 29 18.95 10.37 17.90 4.63 34.9 n LibertyExpediaB LEXEB NorthrimBanCorp NRIM
ChefsWarehouse CHEF cc 20.79 10.31 15.80 -0.88 -5.3 HealthEquity HQY 94 45.00 15.80 40.52 15.45 61.6 ... 41.00 41.00 41.00 ... ... 15 33.00 21.60 31.60 5.00 18.8
EntellusMedical ENTL dd 22.63 13.72 18.97 2.11 12.5 HealthStream HSTM cc 28.84 17.80 25.05 3.05 13.9 LibertyGlobal A LBTYA dd 36.73 26.16 30.59 -6.36 -17.2 NorthwestBcshs NWBI 44 19.10 11.78 18.03 4.64 34.7
ChemicalFin CHFC 25 55.55 29.40 54.17 19.90 58.1 EnterpriseBncp EBTC 22 38.96 20.01 37.56 14.71 64.4 LibertyGlobal B LBTYB dd 44.39 27.31 31.45 -3.97 NorthwestPipe NWPX
ChemoCentryx CCXI dd 9.10 1.92 7.40 -0.70 -8.6 Healthways HWAY dd 27.30 9.18 22.75 9.88 76.8 -11.2 dd 18.92 7.46 17.22 6.03 53.9
EnterpriseFinSvcs EFSC 19 43.65 25.01 43.00 14.65 51.7 HeartlandExp HTLD 28 22.69 15.36 20.36 3.34 19.6 LibertyGlobal C LBTYK dd 35.00 25.86 29.70 -5.67 -16.0 NorwegianCruise NCLH 16 58.19 34.16 42.53 -16.07 -27.4
ChemungFinl CHMG 19 36.75 26.05 36.35 8.85 32.2 Enzymotec ENZY 60 10.00 5.20 6.55 -3.25 -33.2 LibertyLiLAC A LILA dd 42.63 19.10 21.96 -19.41 NorwoodFin NWFL 28 34.50 26.25 33.14 4.39
Cherokee CHKE 20 18.65 8.80 10.50 -6.75 -39.1 HeartlandFinUSA HTLF 15 49.15 25.95 48.00 16.64 53.1 -46.9 15.3
Epizyme EPZM dd 16.01 7.02 12.10 -3.92 -24.5 Heidrick&Strug HSII 28 27.39 16.23 24.15 -3.07 -11.3 LibertyLiLAC C LILAK dd 44.95 19.33 21.17 -21.83 -50.8 NovaLifestyle NVFY cc 5.15 0.38 1.93 0.13 7.2
Chiasma CHMA dd 19.71 1.75 1.95 -17.62 -90.0 ePlus PLUS 17 119.35 61.78 115.20 21.94 23.5 LibertyQVC B QVCB 11 30.62 17.77 20.25 -6.91 NovaMeasuring NVMI 57 13.96 8.57 13.16 3.36
Children'sPlace PLCE 23 111.20 53.39 100.95 45.75 82.9 HelenofTroy HELE 23 106.18 77.50 84.45 -9.80 -10.4 -25.4 34.3
Equinix EQIX cc 391.07 255.45 357.41 55.01 18.2 HemisphereMedia HMTV 28 14.81 10.35 11.20 -3.55 -24.1 LibertyQVC A QVCA 10 27.25 17.88 19.98 -7.34 -26.9 NovadaqTech NVDQ dd 14.36 6.94 7.09 -5.65 -44.3
Chimerix CMRX dd 9.72 3.50 4.60 -4.35 -48.6 EquityBcshs EQBK 24 38.02 19.72 33.64 10.25 43.8 LibertyVenturesB LVNTB 12 41.94 35.55 36.93 -8.38 -18.5 Novan NOVN ... 30.90 13.77 27.02 8.92
ChinaBAK CBAK dd 3.33 1.20 1.41 -1.40 -49.9 HenrySchein HSIC 25 183.00 142.64 151.71 -6.48 -4.1 49.3
Ericsson ERIC 16 10.20 4.83 5.83 -3.78 -39.3 HeritageCommerce HTBK 22 14.55 8.84 14.43 2.47 20.7 LibertyVenturesA LVNTA 12 44.50 32.35 36.87 -8.24 -18.3 Novanta NOVT 37 21.75 11.23 21.00 7.38 54.2
ChinaBiologic CBPO 30 144.29 100.53 107.52 -34.94 -24.5 ErieIndemnity A ERIE 30 116.21 88.69 112.45 16.81 17.6 LibertyMedia A LMCA ... 33.28 17.72 31.35 12.32 64.7 Novavax NVAX dd 8.49 1.16 1.26 -7.13
ChinaFinance JRJC 4 6.10 3.48 3.62 -2.59 -41.7 HeritageCrystal HCCI dd 16.75 7.19 15.70 5.10 48.1 -85.0
Escalade ESCA 17 14.70 9.70 13.20 -0.05 -0.4 HeritageFin HFWA 20 26.48 16.40 25.75 6.91 36.7 LibertyMedia C LMCK ... 33.15 17.47 31.33 13.18 72.6 NovelionTherap NVLN dd 13.80 6.10 8.42 -1.43 -14.5
ChinaHGSRealEst HGSH 18 3.63 1.20 1.91 0.23 13.7 EsperionTherap ESPR dd 22.43 9.40 12.52 -9.74 -43.8 LibertyBraves A BATRA ... 33.21 13.13 20.49 2.09 11.3 Novocure NVCR dd 23.31 5.95 7.85 -14.51
ChinaInfoTech CNIT ... 1.84 0.70 0.72 -0.96 -57.1 HibbettSports HIBB 13 45.85 28.23 37.30 7.06 23.3 -64.9
Essendant ESND dd 34.99 14.72 20.90 -11.61 -35.7 HighpowerIntl HPJ 8 3.64 1.65 2.35 -0.65 -21.7 LibertyBraves C BATRK ... 24.88 12.45 20.59 2.95 16.7 NuanceComms NUAN dd 20.55 13.44 14.90 -4.99 -25.1
ChinaLodging HTHT 32 54.23 25.42 51.84 20.58 65.8 Etsy ETSY dd 16.05 6.04 11.78 3.52 42.6 LibertySirius A LSXMA ... 36.88 28.00 34.52 3.32 10.6 NumereX NMRX dd 9.01 5.17 7.40 0.98
ChinaTechFaith CNTF ... 4.62 1.56 1.85 -1.83 -49.7 HimaxTechs HIMX 20 12.00 5.85 6.04 -2.16 -26.3 15.3
EuronetWorldwide EEFT 22 84.81 52.00 72.43 ... ... HinghamSvg HIFS 19 203.01 115.80 196.78 76.98 64.3 LibertySirius B LSXMB ... 38.76 28.60 34.94 0.94 2.8 Nutanix NTNX dd 46.78 23.11 26.56 -10.44 -28.2
ChinaXDPlastics CXDC 3 5.88 2.53 4.00 -0.42 -9.5 Ever-Glory EVK 4 2.88 1.35 2.05 -0.35 -14.6 LibertySirius C LSXMK ... 36.36 28.04 33.92 3.89 13.0 NutraceuticalIntl NUTR 17 36.15 21.70 34.95 9.13
ChinaCache CCIH dd 10.48 2.33 2.56 -5.68 -68.9 Histogenics HSGX dd 4.47 1.39 1.67 -1.83 -52.3 35.4
Everbridge EVBG dd 20.66 11.76 18.45 3.20 21.0 HollysysAuto HOLI 10 23.55 15.00 18.32 -3.86 -17.4 LibertyTax TAX 11 23.85 9.95 13.40 -10.43 -43.8 Nutrisystem NTRI 34 37.85 17.25 34.65 13.01 60.1
n ChipMOSTechs IMOS 15 18.00 13.94 14.11 -2.29 -14.0 n EverspinTech MRAM ... 9.99 6.15 8.29 0.27 3.4 LibertyTripAdvB LTRPB dd 26.51 16.65 17.50 -13.36 -43.3 Nuvasive NUVA 99 69.50 36.81 67.36 13.25
ChurchillDowns CHDN 29 157.15 118.76 150.45 8.96 6.3 Hologic HOLX 35 41.01 31.84 40.12 1.43 3.7 24.5
Evogene EVGN dd 8.50 5.05 5.10 -2.95 -36.6 HomeBancorp HBCP 17 39.75 21.29 38.61 12.63 48.6 LibertyTripAdvA LTRPA dd 29.86 14.82 15.05 -15.29 -50.4 n Nuvectra NVTR ... 11.64 4.02 5.03 -2.35 -31.8
Chuy's CHUY 36 37.78 25.87 32.45 1.11 3.5 Exa EXA dd 16.74 9.86 15.36 3.75 32.3 LifePointHealth LPNT 19 75.70 50.60 56.80 -16.60 -22.6 NVIDIA NVDA 56 119.93 24.75 106.74 73.78
CidaraTherap CDTX dd 17.30 8.65 10.40 -6.76 -39.4 HomeBancShares HOMB 24 28.61 16.93 27.77 7.51 37.1 223.8
Exactech EXAC 24 28.90 16.88 27.30 9.15 50.4 HomeStreet HMST 12 33.70 18.58 31.60 9.89 45.6 LifetimeBrands LCUT 22 19.35 11.29 17.75 4.49 33.9 NxstageMed NXTM dd 26.83 13.49 26.21 4.30 19.6
Cimpress CMPR cc 104.18 67.89 91.61 10.47 12.9 Exelixis EXEL dd 18.29 3.55 14.91 9.27 164.4 LifewayFoods LWAY 56 18.48 8.68 11.51 0.41 3.7
CincinnatiFin CINF HomeTrustBcshs HTBI 35 27.05 16.97 25.90 5.65 27.9
Cinedigm CIDM
19 79.60 53.64 75.75
dd 3.50 0.90 1.44
16.58
-1.17
28.0
-44.8
ExlService
ExOne
EXLS
XONE
29 54.78 40.80 50.44
dd 16.15 6.60 9.34
5.51
-0.70
12.3
-7.0
HookerFurniture HOFT 23 38.10 20.29 37.95 12.71 50.4 LigandPharm LGND
LimelightNetworks LLNW
cc 139.79
dd 2.90
82.06 101.61
0.90 2.52
-6.81
1.06
-6.3
72.6
O
Cintas CTAS 24 122.21 80.00 115.56 24.51 26.9 HopeBancorp HOPE 20 22.56 13.59 21.89 4.67 27.1
Expedia EXPE cc 133.55 88.40 113.28 -11.02 -8.9 HopFedBancorp HFBC 35 14.10 10.82 13.46 1.46 12.2 Limoneira LMNR 40 21.78 11.30 21.51 6.57 44.0 OPKOHealth OPK dd 12.15 7.12 9.30 -0.75 -7.5
CirrusLogic CRUS 25 60.00 25.09 56.54 27.01 91.5 ExpeditorsIntl EXPD 22 56.37 40.41 52.96 7.86 17.4 LincolnEduc LINC dd 3.20 1.30 1.92 -0.07 -3.5 Orbcomm ORBC dd 10.98 6.80 8.27 1.03 14.2
CiscoSystems CSCO 14 31.95 22.46 30.22 3.06 11.3 HorizonBancorp HBNC 24 28.55 14.61 28.00 9.36 50.2
Exponent EXPO 35 64.80 44.82 60.30 10.35 20.7 HorizonPharma HZNP dd 23.44 13.05 16.18 -5.49 -25.3 LincolnElectric LECO 28 80.57 45.54 76.67 24.78 47.8 OReillyAuto ORLY 27 292.84 225.12 278.41 24.99 9.9
CitiTrends CTRN 24 22.73 14.01 18.84 -2.41 -11.3 ExpressScripts ESRX 16 87.87 64.46 68.79 -18.62 -21.3 LinearTech LLTC 31 64.42 37.33 62.35 19.88 46.8 OSI Systems OSIS 94 88.33 48.19 76.12 -12.54 -14.1
CtznCmntyBcp CZWI 21 12.55 8.80 12.43 2.97 31.4 Hortonworks HDP dd 21.62 6.42 8.31 -13.59 -62.1
n ExtractionOil XOG ... 25.08 19.10 20.04 -1.81 -8.3 HospitalityProp HPT 41 32.32 20.69 31.74 5.59 21.4 LionBiotech LBIO dd 9.58 4.24 6.95 -0.77 -10.0 O2MicroIntl OIIM dd 2.15 1.21 1.80 0.39 27.7
CitizensFirst CZFC 10 18.34 13.18 18.00 4.26 31.0 ExtremeNetworks EXTR dd 5.20 2.32 5.03 0.95 23.3 Lionbridge LIOX 32 5.96 3.90 5.80 0.89 18.1 n ObalonTherap OBLN ... 15.88 8.27 8.85 -6.15 -41.0
CitizensHolding CIZN 17 26.20 20.76 25.85 2.13 9.0 HoughtonMifflin HMHC dd 21.42 9.15 10.85 -10.93 -50.2
Ezcorp EZPW dd 12.00 2.44 10.65 5.66 113.4 HoustonWire HWCC dd 7.71 4.79 6.50 1.22 23.1 LiquiditySvcs LQDT dd 11.49 4.42 9.75 3.25 50.0 OceanRigUDW ORIG 1 3.38 0.66 1.74 0.11 6.7
CitrixSystems CTXS 30 92.40 60.91 89.31 13.66 18.1 Littelfuse LFUS 34 156.53 90.61 151.77 44.76 41.8 OceanFirstFin OCFC 28 30.49 15.98 30.03 10.00 49.9
HubGroup HUBG 19 46.15 28.19 43.75 10.80 32.8
CityHolding CHCO
CleanEnerFuels CLNE
20 68.89 40.74 67.60
dd 4.80 2.15 2.86
21.96
-0.74
48.1
-20.6 F HudsonGlobal HSON dd 2.97 1.20 1.36 -1.56 -53.4 LivaNova
LiveOakBcshs LOB
LIVN ... 63.21
47 20.20
40.84 44.97
12.10 18.50
-14.40
4.30
-24.3 OceraTherap OCRX dd 3.90 1.76 2.10 -1.02 -32.7
30.3 Oclaro
Clearfield CLFD 36 21.60 12.27 20.70 7.29 54.4 JBHunt JBHT 26 102.38 63.58 97.07 23.71 32.3 OCLR 87 10.19 3.16 8.95 5.47 157.2
FARO Tech FARO 37 40.15 20.72 36.00 6.48 22.0 HuntingtonBcshs HBAN 19 13.64 7.83 13.22 2.16 19.5 LivePerson LPSN dd 8.85 3.74 7.55 0.80 11.9 OcularTherapeutix OCUL dd 14.50 4.04 8.37 -1.00 -10.7
n ClearsideBiomed CLSD dd 25.08 5.65 8.94 1.69 23.3 FBR FBRC dd 20.48 10.57 13.00 -6.90 -34.7 LogitechIntl LOGI 26 25.87 13.25 24.77 9.70 64.4 OfficeDepot ODP 8 7.91 3.01 4.52 -1.12 -19.9
CliftonBancorp CSBK 89 17.49 13.09 16.92 2.58 18.0 Hurco HURC 15 34.10 23.25 33.10 6.54 24.6
F5Networks FFIV 27 148.34 86.03 144.72 47.76 49.3 HuronConsulting HURN 21 65.00 41.20 50.65 -8.75 -14.7 LogMeIn LOGM cc 110.10 35.00 96.55 29.45 43.9 OhioValleyBanc OVBC 17 29.34 21.40 27.20 2.65 10.8
ClovisOncology CLVS dd 46.97 11.57 44.42 9.42 26.9 FRONTEO FTEO ... 24.57 11.05 14.18 -0.90 -6.0 LombardMedical EVAR dd 1.94 0.55 0.60 -0.75 -55.6 OldDomFreight ODFL 24 91.69 48.92 85.79 26.72 45.2
Cnova CNV dd 5.50 2.02 5.48 3.07 127.4 HutchisonChina HCM ... 16.06 9.80 13.57 0.17 1.3
FRP Holdings FRPH 31 41.10 28.14 37.70 3.76 11.1 Hydrogenics HYGS dd 10.33 3.90 4.40 -4.37 -49.8 LonestarRscs LONE dd 16.00 2.05 8.54 4.03 89.4 OldNatlBncp ONB 17 18.45 10.69 18.15 4.59 33.8
CoBizFin COBZ 23 17.19 10.31 16.89 3.47 25.9 FTD FTD dd 28.70 16.86 23.84 -2.33 -8.9 LoralSpace LORL 25 42.20 29.55 41.05 0.34 0.8 Old2ndBcp OSBC 23 11.64 6.22 11.05 3.21 40.9
Coca-Cola Bottl COKE 52 184.20 119.80 178.85 -3.66 -2.0
Codexis CDXS dd 5.25 2.93 4.60 0.37 8.7
FXCM
Facebook
FXCM
FB
dd 18.51
44 133.50
7.00 7.05 -9.68
89.37 115.05 10.39
-57.9
9.9 I LoxoOncology LOXO
lululemon LULU
dd 36.71
31 81.81
16.36 32.12
52.71 64.99
3.67
12.52
12.9 Ollie'sBargain OLLI 34 32.75 16.13 28.45 11.44 67.3
23.9 OlympicSteel ZEUS dd 31.19 7.98 24.23 12.65 109.2
CodorusValleyBncp CVLY 19 29.34 18.72 28.60 9.23 47.6 FamousDave's DAVE dd 7.05 4.42 4.95 -1.99 -28.7 Lumentum LITE cc 45.25 18.10 38.65 16.63 75.5 OmegaFlex OFLX 37 64.91 27.51 55.76 22.75 68.9
CogentComm CCOI cc 43.61 29.65 41.35 6.66 19.2 IAC/InterActive IAC dd 68.75 38.82 64.79 4.74 7.9
LMNX
Fanhua FANH 21 10.35 6.19 8.28 -1.00 -10.8 ICF Intl ICFI 24 59.55 31.26 55.20 19.64 55.2 Luminex 23 23.75 17.29 20.23 -1.16 -5.4 Omeros OMER dd 16.80 7.20 9.92 -5.81 -36.9
Cogint COGT dd 7.34 2.90 3.45 -3.89 -53.0 FarmerBros FARM 7 37.55 24.04 36.70 4.43 13.7 LumosNetworks LMOS cc 16.07 10.18 15.62 4.42 39.5 Omnicell
Cognex CGNX 67 65.95 28.01 63.62 29.85 88.4 ICU Medical ICUI 44 154.80 85.56 147.35 34.57 30.7 OMCL cc 40.50 25.06 33.90 2.82 9.1
FarmersCapBk FFKT 18 44.65 24.65 42.05 14.94 55.1 IdexxLab IDXX 50 121.77 63.48 117.27 44.35 60.8 ON Semi ON 43 13.32 6.97 12.76 2.96 30.2
CognizantTech CTSH
Coherent COHR
22 63.43 45.44 56.03
38 139.85 56.72 137.38
-3.99
72.28
-6.6
111.0
Fastenal
FateTherap FATE
FAST 27 49.99
dd 3.82
35.10 46.98 6.16
1.46 2.51 -0.86
15.1
-25.5
ID Systems IDSY dd 5.59 3.75 5.42 0.82 17.8 M Oncobiologics ONS ... 5.49 1.80 3.01 -1.26 -29.5
CoherusBioSci CHRS dd 31.98 12.04 28.15 5.19 22.6 IES Holdings IESC 3 23.00 9.79 19.15 8.08 73.0 OncobiologicsWtA ONSIW ... 0.73 0.05 0.19 -0.20 -51.5
FederalMogul FDML 75 10.68 3.81 10.31 3.46 50.5 IHSMarkit INFO 54 37.85 26.01 35.41 5.24 17.4 Macom Tech MTSI dd 53.80 29.56 46.28 5.39 13.2 OncobiologicsWtB ONSIZ ... 1.90 0.25 0.79 0.16 25.4
Cohu COHU cc 14.43 10.01 13.90 1.83 15.2 FederatedNatl FNHC 12 29.08 14.03 18.69 -10.87 -36.8 MB Fin MBFI 22 48.06 27.98 47.23 14.86 45.9 OncoMedPharm OMED dd 23.98 7.42 7.71 -14.83 -65.8
CollectorsUniv CLCT 25 22.49 13.67 21.23 5.73 37.0 II-VI IIVI 29 32.45 16.09 29.65 11.09 59.8
FenixParts FENX dd 7.01 2.75 2.82 -3.97 -58.5 ILG ILG 7 18.81 10.61 18.17 2.56 16.4 MBT Fin MBTF 18 12.25 6.61 11.35 4.52 66.2 1-800-FLOWERS FLWS 29 11.40 6.11 10.70 3.42 47.0
CollegiumPharm COLL dd 28.47 8.24 15.57 -11.93 -43.4 Ferroglobe GSM dd 12.16 6.90 10.83 0.08 0.7 MCBCHoldings MCFT 15 15.97 10.25 14.58 0.88 6.4 1347 Property PIH dd 7.90 5.32 7.80 0.15 2.0
ColliersIntl CIGI 24 46.54 30.76 36.75 -7.80 -17.5 INC Research INCR 28 57.11 34.19 52.60 4.09 8.4
FibroGen FGEN dd 31.90 14.38 21.40 -9.07 -29.8 INTL FCStone INTL 14 44.71 24.27 39.60 6.14 18.4 MDC Partners MDCA dd 23.90 2.75 6.55 -15.17 -69.8 OpenText OTEX 7 66.84 41.93 61.81 13.88 29.0
ColonyBankcorp CBAN 16 13.30 8.11 13.20 3.67 38.5 FidelitySouthern LION 20 24.50 14.01 23.67 1.36 6.1 MFRI MFRI dd 8.90 5.36 8.10 1.56 23.9 Ophthotech OPHT dd 77.00 4.53 4.83 -73.70 -93.8
CoLucidPharm CLCD dd 40.80 4.57 36.40 28.03 334.9 IPG Photonics IPGP 21 102.90 73.55 98.71 9.55 10.7
FiestaRestaurant FRGI 35 38.54 20.15 29.85 -3.75 -11.2 IRSA Prop IRCP 14 54.45 30.70 47.37 13.28 39.0 MGE Energy MGEE 31 66.85 44.83 65.30 18.90 40.7 Optibase OBAS 22 9.80 5.75 7.75 0.44 6.0
ColumbiaBanking COLB 26 45.27 26.17 44.68 12.17 37.4 FifthStreetAsset FSAM dd 7.75 1.31 6.70 3.44 105.5 MGPIngredients MGPI 29 53.22 19.91 49.98 24.03 92.6 OpticalCable OCC dd 3.60 2.10 3.01 0.18 6.5
ColumbiaSportswr COLM 24 63.55 43.94 58.30 9.54 19.6 FifthThirdBncp FITB IXYS IXYS 25 12.60 9.59 11.90 -0.73 -5.8
12 27.88 13.84 26.97 6.87 34.2 IaoKunGroup IKGH dd 1.74 0.16 0.28 -0.81 -74.3 MKS Instrum MKSI 38 61.30 30.67 59.40 23.40 65.0 OpusBank OPB 22 38.19 18.20 30.05 -6.92 -18.7
ColumbusMcKinn CMCO 21 27.88 12.62 27.04 8.14 43.1 51job JOBS 25 35.87 25.33 33.80 4.34 14.7 MSB Fin MSBF cc 14.95 12.25 14.70 2.20 17.6 OraSureTechs OSUR 29 9.53 5.09 8.78 2.34 36.3
Comcast A CMCSA 20 71.32 52.34 69.05 12.62 22.4 FinancialEngines FNGN Iberiabank IBKC 19 91.10 42.20 83.75 28.68 52.1
84 39.95 23.22 36.75 3.08 9.1 IcahnEnterprises IEP dd 67.63 42.50 59.92 -1.38 -2.3 MTGEInvestment MTGE 9 17.77 12.01 15.70 1.74 12.5 Orbotech ORBK 22 34.35 19.00 33.41 11.28 51.0
CommerceBcshrs CBSH 23 59.22 35.66 57.81 17.30 42.7 FinInstitutions FISI 17 34.55 24.56 34.20 6.20 22.1 MTS Systems MTSC 28 62.60 41.53 56.70 -6.71 -10.6 OrexigenTherap OREX dd 19.80 1.65 1.74 -15.46 -89.9
CommerceHub A CHUBA ... 16.69 11.91 15.01 1.48 10.9 FNSR 108.2 n Ichor ICHR ... 11.23 9.76 10.82 1.05 10.7
Finisar 34 36.85 11.94 30.27 15.73 Icon ICLR 17 85.74 62.31 75.20 -2.50 -3.2 MYR Group MYRG 35 41.42 17.77 37.68 17.07 82.8 OrganovoHoldings ONVO dd 4.99 1.60 3.39 0.90 36.1
CommerceHub C CHUBK ... 16.40 11.90 15.03 1.29 9.4 FinishLine FINL dd 24.52 15.74 18.81 0.73 4.0 Macatawa MCBC 23 10.67 5.02 10.41 4.36 72.1 OriginAgritech SEED dd 3.19 1.07 2.36 0.93 65.0
CommVehicle CVGI 40 6.00 2.02 5.53 2.77 100.4 FEYE IconixBrand ICON dd 10.30 4.67 9.34 2.51 36.7
FireEye dd 22.48 10.87 11.90 -8.84 -42.6 IgniteRestaurant IRG dd 4.45 0.19 0.54 -3.66 -87.1 Macrocure MCUR ... 3.20 0.75 1.38 0.11 8.9 OritaniFinancial ORIT 17 18.95 14.95 18.75 2.25 13.6
CommScope COMM 79 38.00 19.37 37.20 11.31 43.7 FirstBancorpNC FBNC 22 28.49 17.15 27.14 8.40 44.8 Macrogenics MGNX dd 33.30 14.84 20.44 -10.53 -34.0 OrthofixIntl OFIX 70 48.25 32.51 36.18 -3.03 -7.7
CommsSales CSAL cc 32.73 15.13 25.41 6.72 36.0 FirstBancorp FNLC iKangHealthcare KANG cc 22.58 13.72 17.33 -3.11 -15.2
20 33.21 17.37 33.10 12.63 61.7 Illumina ILMN 43 188.25 119.37 128.04 -63.91 -33.3 MagalSec MAGS cc 6.25 3.93 5.07 0.82 19.4 OsirisTherap OSIR ... 10.67 3.55 4.91 -5.47 -52.7
CommsSystems JCS dd 8.16 3.41 4.63 -3.14 -40.4 FirstBancshares FBMS 15 28.50 15.32 27.50 9.16 49.9 MagellanHealth MGLN 26 77.35 49.50 75.25 13.59 22.0 Otonomy
CommunityHlthRt CYHHZ ... 0.02 ... ... ... -50.0 Immersion IMMR dd 11.92 5.90 10.63 -1.03 -8.8 OTIC dd 27.23 10.50 15.90 -11.85 -42.7
FirstBank FRBA 22 12.95 6.25 11.60 4.99 75.5 ImmuneDesign IMDZ dd 19.91 4.50 5.50 -14.58 -72.6 MagicSoftware MGIC 20 7.89 5.26 6.67 1.14 20.6 OtterTail OTTR 26 42.55 25.80 40.80 14.17 53.2
CmntyTrBcp CTBI 18 51.35 30.89 49.60 14.64 41.9 FirstBusey BUSE 21 31.01 17.68 30.78 10.15 49.2 magicJackVocal CALL 12 9.38 5.27 6.85 -2.60 -27.5 Ovascience OVAS dd 11.66 1.30 1.53 -8.24 -84.3
CommunityWestBcshs CWBC 14 9.95 6.79 9.24 2.27 32.6 FirstBusFinSvcs FBIZ Immunogen IMGN dd 13.39 1.51 2.04 -11.53 -85.0
14 25.94 18.76 23.72 -1.29 -5.2 Immunomedics IMMU dd 5.44 1.61 3.67 0.60 19.5 MagyarBancorp MGYR 67 12.11 9.51 12.00 1.99 19.9 Overstock OSTK 47 19.70 10.03 17.50 5.22 42.5
CommVaultSystems CVLT cc 57.25 29.41 51.40 12.05 30.6 FirstCitizBcshA FCNCA 20 367.00 217.41 355.00 96.83 37.5 MaidenHoldings MHLD 12 18.10 11.14 17.45 2.54 17.0 OxfordImmunotec OXFD dd 15.18 7.73 14.95 3.45 30.0
Compugen CGEN dd 7.57 4.32 5.10 -1.29 -20.2 FstCmntyBcsh FCBC ImpaxLabs IPXL dd 43.16 12.28 13.25 -29.51 -69.0
21 31.94 16.67 30.14 11.51 61.8 Imperva IMPV dd 62.80 31.11 38.40 -24.91 -39.3 MainSourceFncl MSFG 22 34.75 19.46 34.40 11.52 50.3
ComputerPrograms CPSI 54 59.16 18.25 23.60 -26.15 -52.6
ComputerTask CTG dd 6.71 3.87 4.21 -2.41 -36.4
FirstConnBncp FBNK
1stConstBncp FCCY
25 25.00
17 20.85
14.42 22.65 5.24
11.27 18.70 6.44
30.1
52.6 Impinj PI dd 41.91 16.36 35.34 17.37 96.7 MakeMyTrip MMYT dd 31.90 13.69 22.20 5.04
MalibuBoats MBUU 19 20.10 11.38 19.08 2.71
29.4
16.6
PQ
comScore SCOR ... 43.53 21.74 31.58 -9.57 -23.3 FirstDefiance FDEF 17 52.30 34.80 50.74 12.96 34.3 Incyte INCY cc 109.95 55.00 100.27 -8.18 -7.5
MammothEnergy TUSK ... 19.05 11.91 15.20 1.94 14.6 PAM Transport PTSI 13 32.23 14.75 25.98 -1.61 -5.8
ComtechTel CMTL dd 25.09 9.52 11.85 -8.24 -41.0 FirstFinBncpWt FFBCW ... 18.00 5.03 18.00 7.00 63.6 IndependentBank INDB 23 71.95 39.58 70.45 23.93 51.4
ManhattanAssoc MANH 32 68.57 44.14 53.03 -13.14 -19.9 P&FIndustries PFIN dd 11.85 6.69 8.27 -0.57 -6.4
ConatusPharm CNAT dd 6.30 1.40 5.27 2.39 83.0 FirstFinBncpOH FFBC 21 29.80 13.76 28.45 10.38 57.4 IndepBankMI IBCP 21 22.25 13.42 21.70 6.47 42.5
Mannatech MTEX 27 24.49 15.99 20.30 1.45 7.7 PCConnection CNXN 15 29.74 19.19 28.09 5.45 24.1
ConcertPharm CNCE dd 19.69 7.11 10.29 -8.68 -45.8 FirstFinBkshs FFIN 29 46.70 24.12 45.20 15.03 49.8 IndependentBank IBTX 23 65.65 25.50 62.40 30.40 95.0
MannKind MNKD dd 2.24 0.41 0.64 -0.81 -56.1 PCM
ConcordiaIntl CXRX dd 41.49 1.69 2.12 -38.71 -94.8 Infinera INFN 53 17.87 7.23 8.49 -9.63 -53.1 PCMI dd 24.53 7.48 22.50 12.57 126.6
FirstFinIN THFF 18 53.49 31.15 52.80 18.83 55.4 InfinityPharm INFI dd 8.16 0.84 1.35 -6.50 ManTechIntl MANT 28 45.52 25.76 42.25 12.01 39.7 PC-Tel PCTI dd 6.00 4.36 5.38 0.83 18.2
ConcurrentComp CCUR dd 6.66 4.81 5.35 0.40 8.1 FirstFinNW FFNW 31 20.54 12.51 19.74 5.78 41.4 -82.8
Marchex MCHX dd 4.68 2.46 2.65 -1.24 -31.9 PDC Energy PDCE dd 84.88 42.67 72.58 19.20 36.0
CondorHospitality CDOR dd 3.14 0.70 2.04 0.79 63.2 FirstFoundation FFWM 22 29.95 20.00 28.50 4.91 20.8 InfinityPropCas IPCC 30 90.50 73.27 87.90 5.67 6.9
MarinusPharma MRNS dd 7.56 0.82 1.01 -6.63 -86.8 PDF Solutions PDFS 78 24.44 8.70 22.55 11.71 108.0
ConforMIS CFMS dd 17.35 4.80 8.10 -9.19 -53.2 FirstGuarBcshs FGBI 13 24.27 14.60 23.93 5.18 27.6 InfoSvcsGrp III 52 4.32 2.86 3.64 0.02 0.6
MarketAxess MKTX 47 178.21 98.00 146.92 35.33 31.7 PDL Biopharm PDLI 2 3.84 1.93 2.12 -1.42 -40.1
Conifer CNFR dd 9.32 5.32 8.15 -1.12 -12.1 n FirstHawaiian FHB ... 35.47 23.00 34.82 10.57 43.6 InglesMarkets IMKTA 18 52.40 31.77 48.10 4.02 9.1
MarlinBusSvcs MRLN 17 22.92 13.46 20.90 4.84 30.1 PHI
Conmed CNMD 79 50.16 35.51 44.17 0.12 0.3 InnerWorkings INWK dd 10.08 6.06 9.85 2.35 31.3 PHII dd 21.70 12.51 17.85 0.09 0.5
FirstInternetBncp INBK 15 33.00 22.01 32.00 3.31 11.5
Innocoll INNL dd 12.94 0.59 0.69 -7.61 Marriott MAR 29 86.15 56.43 82.68 15.64 23.3 PHI NV PHIIK dd 22.79 13.52 18.02 1.61 9.8
ConnecticutWater CTWS 25 58.32 37.48 55.85 17.84 46.9 FirstInterBanc FIBK 20 43.10 24.92 42.55 13.48 46.4 -91.7 MartenTransport MRTN 23 27.05 15.49 23.30 5.60 31.6 PICO
ConnectOneBncp CNOB 19 26.65 14.86 25.95 7.26 38.8 Innodata INOD dd 2.83 1.90 2.45 -0.40 -14.0 PICO dd 16.20 7.82 15.15 4.83 46.8
FirstMerchants FRME 21 38.02 21.10 37.65 12.23 48.1
IPHS 30 57.42 22.06 52.26 23.28 MartinMidstream MMLP 77 25.38 13.27 18.35 -3.35 -15.4 PRA Group PRAA 13 39.70 20.00 39.10 4.41 12.7
Connecture CNXR dd 3.90 1.15 1.68 -1.93 -53.5 FirstMidILBcsh FMBH 17 36.80 22.95 34.00 8.00 30.8 Innophos 80.3 MarvellTech MRVL 66 14.99 7.40 13.87 5.05 57.3 PRA HealthSci PRAH 43 60.96 35.60 55.12 9.85 21.8
Conn's CONN dd 23.48 6.54 12.65 -10.82 -46.1 FirstMidwestBncp FMBI 23 25.56 14.56 25.23 6.80 36.9 Innospec IOSP 19 73.40 41.61 68.50 14.19 26.1 Masimo MASI 32 68.88 33.03 67.40 25.89 62.4 PRGXGlobal PRGX 44 6.20 3.04 5.90 2.18 58.6
ConsldComm CNSL 71 30.23 17.76 26.85 5.90 28.2 FirstNBCBank FNBC 2 36.98 4.85 7.30 -30.09 -80.5 InnovSolSuprt ISSC 30 3.99 2.35 3.33 0.57 20.7 MatchGroup MTCH 33 19.74 8.41 17.10 3.55 26.2 PTC
ConsldWater CWCO 40 14.69 9.80 10.85 -1.39 -11.4 Innoviva INVA 31 14.15 7.56 10.70 0.16 1.5 PTC dd 49.93 27.06 46.27 11.64 33.6
FirstNWBncp FNWB 56 16.75 11.99 15.60 1.45 10.2
INGN Materialise MTLS dd 8.59 5.22 7.68 0.62 8.8 PTC Therap PTCT dd 31.89 4.03 10.91 -21.49 -66.3
ConsumerPtfo CPSS 5 6.05 3.31 5.12 -0.07 -1.3 FirstSolar FSLR 7 74.29 28.60 32.09 -33.90 -51.4 Inogen 95 69.36 28.81 67.17 27.08 67.5 MatrixService MTRX 22 23.20 14.07 22.70 2.16 10.5 Paccar
Control4 CTRL 30 12.60 5.41 10.20 2.93 40.3 InotekPharm ITEK dd 11.89 5.81 6.10 -5.23 -46.2 PCAR 39 68.50 43.46 63.90 16.50 34.8
1stSource SRCE 20 45.61 27.01 44.66 13.79 44.7 Mattel MAT 26 34.76 23.85 27.55 0.38 1.4 PacBiosciCA PACB dd 13.98 3.76 3.80 -9.33 -71.1
Copart CPRT 17 56.98 32.26 55.41 17.40 45.8 FirstSouthBancorp FSBK 18 11.95 7.86 11.95 3.40 39.8 Inovalon INOV 36 20.05 8.60 10.30 -6.70 -39.4 Mattersight MATR dd 6.70 3.00 3.70 -2.86 -43.6 PacificContinent PCBK 24 22.05 13.60 21.85 6.97 46.8
Core-Mark CORE 38 50.00 31.54 43.07 2.10 5.1 FirstUnited FUNC 10 16.95 8.82 15.95 4.25 36.3 InovioPharma INO dd 11.69 4.50 6.94 0.22 3.3 MatthewsIntl MATW 38 77.10 45.00 76.85 23.40 43.8 PacificMercBncp PMBC dd 7.91 5.30 7.30 0.17 2.4
CoriumIntl CORI dd 9.85 3.14 4.06 -4.06 -50.0 FirstService FSV 58 53.15 32.71 47.48 7.05 17.4 Inseego INSG dd 3.80 0.84 2.44 0.77 46.1 MaximIntProducts MXIM 26 42.37 30.28 38.57 0.57 1.5 PacificPremBncp PPBI 25 36.15 18.32 35.35 14.10 66.4
CornerstoneOnDem CSOD dd 47.75 22.25 42.31 7.78 22.5 Fiserv FISV 27 111.51 85.63 106.28 14.82 16.2 InsightEnt NSIT 18 41.81 18.26 40.44 15.32 61.0 MaxPoint MXPT dd 11.94 4.64 6.00 -0.84 -12.3 PaciraPharm PCRX dd 76.75 29.95 32.30 -44.49 -57.9
Corvel CRVL 26 53.19 31.00 36.60 -7.32 -16.7 FiveBelow FIVE 34 52.70 31.46 39.96 7.86 24.5 Insmed INSM dd 18.60 9.02 13.23 -4.92 -27.1 MaxwellTechs MXWL dd 7.39 4.20 5.12 -2.02 -28.3 PacWestBancorp PACW 20 56.07 29.05 54.44 11.34 26.3
CorvusPharm CRVS ... 17.77 9.63 14.30 0.05 0.4 Five9 FIVN dd 16.40 6.14 14.19 5.49 63.1 InsteelInds IIIN 18 42.81 18.72 35.64 14.72 70.4 MazorRobotics MZOR dd 26.55 8.31 21.92 11.76 115.7 PainTherap PTIE dd 3.00 0.51 0.57 -1.18 -67.4
CoStarGroup CSGP 78 224.79 146.53 188.49 -18.20 -8.8 FivePrimeTherap FPRX 6 60.98 28.01 50.11 8.61 20.7 Insulet PODD dd 45.59 23.94 37.68 -0.13 -0.3 McGrathRentCorp MGRC 23 39.86 21.46 39.19 14.00 55.6 PanAmerSilver PAAS dd 21.59 5.38 15.07 8.57 131.8
Costco COST 29 169.59 138.57 160.11 -1.39 -0.9 FlamelTech FLML 20 15.45 7.56 10.39 -1.82 -14.9 InsysTherap INSY 29 28.91 8.70 9.20 -19.43 -67.9 Medicines MDCO dd 41.79 27.50 33.94 -3.40 -9.1 PaneraBread PNRA 34 224.15 178.99205.09 10.31 5.3
CountyBancorp ICBK 17 26.97 18.25 26.97 7.47 38.3 Flex FLEX 18 15.09 8.85 14.37 3.16 28.2 IntegraLifeSci IART 56 88.86 54.75 85.79 18.01 26.6 MediciNova MNOV dd 10.16 3.50 6.03 2.48 69.9 PapaJohn's PZZA 34 90.49 42.87 85.58 29.71 53.2
n CoupaSoftware COUP ... 41.61 24.19 25.01 -8.27 -24.8 FlexPharma FLKS dd 13.97 4.54 5.28 -7.17 -57.6 IntegratedDevice IDTI 21 26.26 16.22 23.56 -2.79 -10.6 MedidataSolutions MDSO cc 57.85 30.22 49.67 0.38 0.8 PapaMurphy's FRSH 18 12.96 3.56 4.22 -7.04 -62.5
CovenantTranspt CVTI 15 25.77 13.60 19.34 0.45 2.4 FlexionTherap FLXN dd 23.57 7.56 19.02 -0.25 -1.3 Intel INTC 17 38.36 27.68 36.27 1.82 5.3 MediWound MDWD dd 9.29 4.25 4.58 -3.96 -46.4 ParatekPharma PRTK dd 19.45 9.80 15.40 -3.57 -18.8
Covisint COVS dd 2.59 1.50 1.90 -0.60 -24.0 Flexsteel FLXS 21 62.99 36.06 61.67 17.49 39.6 Inteliquent IQNT 22 23.67 14.56 22.92 5.15 29.0 n Medpace MEDP ... 38.94 26.51 36.07 8.28 29.8 Parexel
CowenGroup COWN 78 16.75 9.86 15.50 0.18 1.2 FlirSystems FLIR 28.9 n IntelliaTherap NTLA ... 30.40 11.86 13.11 -8.99 -40.7 PRXL 21 71.13 51.16 65.72 -2.40 -3.5
28 37.17 26.48 36.19 8.12 MelcoCrownEnt MPEL 69 20.00 11.90 15.90 -0.90 -5.4 Park-Ohio PKOH 14 44.65 23.21 42.60 5.82 15.8
CrackerBarrel CBRL 20 175.04 118.01 166.98 40.15 31.7 Fluidigm FLDM dd 11.05 4.31 7.28 -3.53 -32.7 InterParfums IPAR 32 36.40 20.37 32.75 8.93 37.5 MellanoxTech MLNX 38 55.80 37.54 40.90 -1.24 -2.9 ParkSterling PSTB 29 11.04 5.90 10.79 3.47 47.4
CraftBrewAlliance BREW cc 22.40 6.80 16.90 8.53 101.9 FlushingFin FFIC 14 29.90 18.95 29.39 7.75 35.8 InteractiveBrkrs IBKR 25 43.14 29.50 36.51 -7.09 -16.3 MemorialProd MEMP dd 3.21 0.12 0.12 -2.52 -95.3 ParnellPharm PARN ... 3.95 0.65 0.69 -3.19 -82.2
Cray CRAY dd 43.79 16.77 20.70 -11.75 -36.2 FoamixPharm FOMX dd 11.26 5.48 11.10 2.99 36.9 InterceptPharm ICPT dd 177.93 89.76 108.65 -40.70 -27.3 MentorGraphics MENT 47 37.03 16.10 36.89 18.47 100.3 PartnerComms PTNR dd 5.50 4.00 4.69 0.32
CreditAcceptance CACC 14 223.57 160.63 217.51 3.49 1.6 FogodeChao FOGO 14 17.89 10.50 14.35 -0.81 -5.3 InterDigital IDCC 16 98.00 41.01 91.35 42.31 86.3 MercadoLibre MELI 56 193.58 84.19 156.14 41.80 36.6 PatrickIndustries PATK 22 79.15 29.28 76.30 32.80 75.4
7.3
Cree CREE cc 32.92 20.75 26.39 -0.28 -1.0 FormFactor FORM 70 12.05 6.15 11.20 2.20 24.4 Interface TILE 18 19.10 13.70 18.55 -0.59 -3.1 MercantileBank MBWM 20 38.68 20.84 37.70 13.16 53.6 PatriotNatlBncp PNBK 40 16.50 12.57 14.05 -0.50 -3.4
Cresud CRESY dd 18.23 8.43 15.77 2.97 23.2 FormulaSys FORTY 29 42.95 23.54 39.70 13.40 51.0 Intermolecular IMI dd 2.92 0.78 0.95 -1.37 -59.1 MercerIntl MERC 18 10.75 5.95 10.65 1.60 17.7 PatriotTransport PATI 13 26.42 17.89 21.93 -0.57 -2.5
Criteo CRTO 33 47.80 24.23 41.08 1.48 3.7 ForresterResearch FORR 57 44.40 27.05 42.95 14.47 50.8 InterNAP INAP dd 6.27 0.80 1.54 -4.86 -75.9 MerchantsBcshsVT MBVT 26 54.80 27.00 54.20 22.71 72.1 PatternEnergy PEGI dd 25.13 14.56 18.99 -1.92 -9.2
Crocs CROX dd 12.54 6.70 6.86 -3.38 -33.0 Forterra FRTA ... 22.76 16.24 21.66 5.16 31.3 IntlBcshs IBOC 20 42.25 21.05 40.80 15.10 58.8 MercurySystems MRCY 51 32.75 15.67 30.22 11.86 64.6 Patterson
CrossCtyHlthcr CCRN dd 16.25 9.72 15.61 -0.78 -4.8 FTNT IntlSpeedwayA ISCA 22 39.95 29.71 36.80 3.08 9.1 PDCO 19 50.40 36.46 41.03 -4.18 -9.2
Fortinet ... 37.48 23.16 30.12 -1.05 -3.4 MeridianBancorp EBSB 34 20.55 12.28 18.90 4.80 34.0 PattersonUTIEn PTEN dd 29.55 10.94 26.92 11.84 78.5
Ctrip.com CTRP dd 49.62 35.50 40.00 -6.33 -13.7 ForwardAir FWRD 38 50.72 36.00 47.38 4.37 10.2 InternetGold IGLD dd 18.00 9.15 11.90 0.90 8.2 MeridianBiosci VIVO 23 21.49 15.75 17.70 -2.82 -13.7 Paychex
CumberlandPharm CPIX dd 6.00 4.20 5.50 0.24 4.6 ForwardPharma FWP InternetInitiat IIJI 22 11.13 6.70 7.45 -2.45 -24.7 PAYX 28 62.18 45.76 60.88 7.99 15.1
dd 25.74 11.22 15.00 -4.00 -21.1 MeritMedical MMSI 63 26.85 15.47 26.50 7.91 42.5 PaylocityHolding PCTY dd 49.65 24.00 30.01 -10.54 -26.0
Curis CRIS dd 3.72 1.25 3.08 0.17 5.8 Fossil FOSL 13 51.93 23.10 25.86 -10.70 -29.3 IntersectENT XENT dd 22.01 7.65 12.10 -10.40 -46.2 MerrimackPharm MACK dd 9.02 4.03 4.08 -3.82 -48.4 PayPal
Cutera CUTR cc 17.95 9.83 17.35 4.56 35.7 FSTR Intersections INTX dd 4.23 1.70 3.99 1.12 39.0 PYPL 35 44.52 30.52 39.47 3.27 9.0
FosterLB dd 20.77 8.80 13.60 -0.06 -0.4 Merus MRUS dd 22.18 7.25 21.11 11.07 110.3 PeakResorts SKIS dd 6.20 2.60 5.55 -0.46 -7.7
CyberArkSoftware CYBR 58 59.28 31.50 45.50 0.36 0.8 FoundationMed FMI dd 25.31 13.34 17.70 -3.36 -16.0 Intersil ISIL 60 22.76 10.67 22.30 9.54 74.8 MesaLab MLAB 44 137.20 77.00 122.75 23.25 23.4 PeapackGladFinl PGC 21 31.98 16.17 30.88 10.26 49.8
CyberOptics CYBE 34 30.50 7.27 26.10 18.45 241.2 FoxFactory FOXF 32 28.25 13.85 27.75 11.22 67.9 Intevac IVAC dd 8.70 3.99 8.55 3.84 81.5 Mesoblast MESO dd 10.89 3.50 5.35 -1.01 -15.9 Pegasystems PEGA 80 37.10 20.38 36.00 8.50 30.9
Cynosure CYNO 52 55.94 32.90 45.60 0.93 2.1 Francesca's FRAN 17 22.39 9.75 18.03 0.62 3.6 Intra-Cellular ITCI dd 55.35 10.80 15.09 -38.70 -71.9 MetaFinancial CASH 26 106.85 36.22 102.90 56.97 124.0 PennNational PENN 15 17.40 11.93 13.79 -2.23 -13.9
CypressSemi CY dd 12.48 6.30 11.44 1.63 16.6 FranklinElectric FELE 24 44.55 23.75 38.90 11.87 43.9 Intricon IIN dd 8.02 4.12 6.90 -0.68 -9.0 Methanex MEOH dd 46.95 22.73 43.80 10.79 32.7 PennVirginia PVAC ... 50.00 15.00 49.00 8.38 20.6
CyrusOne CONE cc 57.00 32.42 44.73 7.28 19.4 Fred's FRED dd 21.77 7.88 18.56 2.19 13.4 Intuit INTU 37 118.66 88.17 114.61 18.11 18.8 Michaels MIK 12 31.36 19.46 20.45 -1.66 -7.5
Cytokinetics CYTK dd 12.98 6.00 12.15 1.69 16.2 FreightCarAmer RAIL 8 20.23 10.87 14.93 -4.50 -23.2 IntuitiveSurgical ISRG 34 727.25 502.01 634.17 88.01 16.1 MicrochipTech MCHP cc 66.81 39.01 64.15 17.61 37.8 PennsWoodsBncp PWOD 18 52.65 34.76 50.50 8.04 18.9
CytomXTherap CTMX dd 20.94 9.10 10.99 -9.88 -47.3 FrequencyElec FEIM dd 11.99 8.51 10.80 0.18 1.7 InventureFoods SNAK dd 10.15 4.91 9.85 2.75 38.7 MicronTech MU dd 23.64 9.31 21.92 7.76 54.8 PennTexMidstream PTXP 26 18.00 8.54 14.99 2.06 15.9
Freshpet FRPT dd 11.81 5.60 10.15 1.66 19.6 Investar ISTR 18 19.70 13.63 18.65 1.05 6.0 Microsemi MSCC dd 57.32 28.91 53.97 21.38 65.6 PeoplesBncpOH PBCT
People'sUtdFin 21 20.13 13.62 19.36 3.21 19.9
D FrontierComm FTR dd 5.85 3.10 3.38 -1.29 -27.6 InvestorsBancorp ISBC
InvestorsTitle ITIC
24 14.38 10.67 13.95 1.51
18 174.10 76.35 158.18 58.18
12.1
58.2
Microsoft MSFT 30 64.10 48.03 62.14 6.66 12.0 PeoplesBncpNC PEBO PEBK
22 32.98 16.34 32.46 13.62 72.3
14 26.90 18.28 25.07 5.73 29.6
FuelTech FTEK dd 2.05 1.13 1.15 -0.74 -39.2 MicroStrategy MSTR 23 207.28 141.01 197.40 18.11 10.1 PFIS 19 50.54 32.74 48.70 10.62 27.9
DBVTechnologies DBVT dd 37.98 22.55 35.13 -1.18 -3.2 FuelCell FCEL dd 8.88 1.60 1.75 -3.21 -64.7 InVivoTherap NVIV dd 10.36 3.50 4.20 -3.00 -41.7 MicroVision MVIS dd 3.08 0.89 1.26 -1.60 -55.9 PeoplesFinSvcs PRCP dd 7.98 4.18 6.64 -1.15 -14.8
DHX Media VV DHXM 42 7.40 4.56 5.25 -1.37 -20.7 FulgentGenetics FLGT dd 12.15 7.59 11.57 2.39 26.0 Invuity IVTY dd 14.25 4.50 5.75 -3.07 -34.8 MidConEnergy MCEP dd 4.05 0.72 2.60 1.46 128.1 Perceptron PRFT 25 22.66 14.14 17.49 0.37 2.2
DISH Network DISH 28 60.24 38.85 57.93 0.75 1.3 FultonFin FULT 21 19.45 11.48 18.80 5.79 44.5 IonisPharma IONS dd 62.68 19.59 47.83 -14.10 -22.8 MidPennBancorp MPB 14 24.75 14.65 23.83 7.73 48.0 Perficient PFMT 38 4.07 1.51 2.35 0.56 31.3
DMC Global BOOM dd 17.19 4.84 15.85 8.86 126.8 iPass IPAS dd 1.89 0.81 1.65 0.65 65.0 Middleby MIDD 29 143.60 79.11 128.81 20.94 19.4 PerformantFin PERI dd 3.25 0.94 1.42 -2.21 -60.9
DSP Group DSPG
DXP Ents DXPE
90 13.10 7.89 13.05
dd 38.55 12.67 34.74
3.61
11.94
38.2
52.4
G iRhythmTechs IRTC
Iridex IRIX
... 31.69 22.16 30.00 3.95
dd 16.64 7.50 14.06 4.77
15.2
51.3
MiddlesexWater MSEX 29 44.48 25.00 42.94 16.40
MidlandStBncp MSBI 17 37.58 20.80 36.18 14.28
61.8 PerionNetwork
65.2 PernixTherap PTX dd 29.60 1.83 1.94 -27.56 -93.4
Daktronics DAKT 49 10.89 5.92 10.70 1.98 22.7 G&K Services GK 29 98.22 51.94 96.45 33.55 53.3 IridiumComm IRDM dd 11.15 6.14 9.60 1.19 14.1 MidWestOneFin MOFG 17 39.20 24.71 37.60 7.19 23.6 PershingGold PERY
PerryEllis dd 29.00 15.73 24.91 6.49 35.2
Datalink DTLK 36 11.26 6.13 11.26 4.46 65.6 n GDSHoldings GDS ... 10.76 7.54 8.60 -1.81 -17.4 iRobot IRBT 35 60.86 28.02 58.45 23.05 65.1 MillerHerman MLHR 15 36.46 22.60 34.20 5.50 19.2 PetMedExpress PGLC PETS
dd 5.02 3.10 3.27 -0.24 -6.8
22 23.78 15.72 23.07 5.93 34.6
Dave&Buster's PLAY 28 58.00 29.54 56.30 14.56 34.9 GSI Tech GSIT dd 6.34 3.33 6.20 2.48 66.7 IronwoodPharm IRWD dd 16.89 7.35 15.29 3.70 31.9 Mimecast MIME dd 24.60 6.01 17.90 8.30 86.5 PhibroAnimal PAHC 15 35.69
DAVIDsTEA DTEA 29 14.30 6.60 6.85 -5.54 -44.7 GWPharm GWPH dd 137.88 35.83 111.75 42.31 60.9 IsleCapriCasinos ISLE 16 24.79 10.62 24.69 10.76 77.2 Mind CTI MNDO 11 2.69 1.96 2.46 -0.07 -2.8 Photronics PLAB 18 12.40 16.80 29.30 -0.83 -2.8
8.20 11.30 -1.15 -9.2
DawsonGeophys DWSN dd 9.00 2.90 8.04 4.58 132.4 Gaia GAIA dd 10.07 4.35 8.65 2.41 38.6 Itron ITRI 58 66.10 29.02 62.85 26.67 73.7 Mindbody MB dd 22.95 9.20 21.30 6.17 40.8 PilgrimPride PPC 11 27.79 17.15
DelFrisco's DFRG 22 18.50 13.01 17.00 0.98 6.1 IturanLocation ITRN 19 27.27 16.32 26.50 7.57 40.0 MinervaNeurosci NERV dd 15.84 3.45 11.75 5.68 18.99 -3.10 -14.0
Galapagos GLPG dd 73.37 37.03 64.19 1.31 2.1 93.6 PinnacleEnt PNK dd 15.03 9.72 14.50 4.00 38.1
DeltaNaturalGas DGAS 37 31.29 20.83 29.33 8.34 39.7 Gaming&Leisure GLPI 23 35.98 24.21 30.62 2.82 10.1 Ixia XXIA cc 17.00 8.50 16.10 3.67 29.5 MirnaTherap MIRN dd 6.65 1.12 1.80 -4.45 -71.2 PinnacleFinPtrs PNFP 25 71.85 43.32 69.30 17.94
DentsplySirona XRAY 30 65.83 53.43 57.73 -3.12 -5.1 GamingPartners GPIC 12 12.34 8.25 11.82 2.86 31.9 Misonix MSON 30 11.20 3.83 10.45 1.05 11.2 Pixelworks PXLW dd 3.49 1.22 2.80 0.42 34.9
DepoMed DEPO dd 27.02 12.25 18.02 -0.11 -0.6 Garmin GRMN 18 56.19 30.93 48.49 11.32 30.5 J MitchamIndustries MIND dd 4.45 2.24 4.15 1.14 37.9 PLXS 24 54.99 28.72 54.04 19.12 54.8
17.6
Dermira DERM dd 36.34 17.42 30.33 -4.28 -12.4 n GemphireTherap GEMP ... 13.98 7.25 7.84 -1.36 -14.8 MitelNetworks MITL dd 8.52 5.81 6.80 -0.89 -11.6 Plexus
Pool POOL 30 107.98 72.41 104.34 23.56 29.2
Descartes DSGX 69 22.90 15.01 21.40 1.32 6.6 GencorIndustries GENC 32 16.25 7.00 15.70 8.17 108.4 JAKKS Pacific JAKK dd 9.75 4.62 5.15 -2.81 -35.3 MobileMini MINI 36 38.13 23.40 30.25 -0.88 -2.8 Popeyes
DestMaternity DEST dd 10.24 4.83 5.17 -3.55 -40.7 JA Solar JASO 3 9.78 4.69 4.76 -4.94 -50.9 MobileIron MOBL dd 4.78 2.56 3.75 0.14 PLKI 31 63.11 49.11 60.48 1.98 3.4
GeneralComm A GNCMA dd 20.23 12.26 19.45 -0.33 -1.7 3.9 BPOP 13 44.91 22.40 43.82 15.48 54.6
DestinationXL DXLG dd 5.88 3.90 4.25 -1.27 -23.0 GeneralFin GFN dd 5.90 3.50 5.55 1.56 39.1 J&JSnackFoods JJSF 33 135.04 97.73 133.43 16.76 14.4 Mocon MOCO 32 19.80 13.00 19.50 4.86 33.2 Popular
Deswell DSWL dd 1.88 1.08 1.78 0.35 24.5 GenMarkDiagn GNMK dd 13.29 4.20 12.24 4.48 57.7 JD.com JD dd 30.66 19.51 25.44 -6.83 -21.2 ModusLink MLNK dd 2.47 1.05 1.46 -1.02 -41.1 PortolaPharm PTLA dd 51.19 15.68 22.44 -29.01 -56.4
DexCom DXCM dd 96.38 47.92 59.70 -22.20 -27.1 j2Global JCOM 28 83.50 55.43 81.80 -0.52 -0.6 MomentaPharm MNTA dd 15.90 7.86 15.05 0.21 Potbelly PBPB 44 14.99 9.82 12.90 1.19 10.2
GenoceaBiosci GNCA dd 8.07 2.56 4.12 -1.15 -21.8 1.4
PCH cc 44.00 24.01 41.65 11.41 37.7
DiamondHillInvt DHIL 16 217.68 140.98 210.38 21.38 11.3 GenomicHealth GHDX dd 35.79 22.00 29.39 -5.81 -16.5 JackHenry JKHY 27 91.06 73.19 88.78 10.72 13.7 Momo MOMO 52 28.44 6.72 18.38 2.36 14.7 Potlatch
DiamondbackEner FANG dd 113.23 55.48 101.06 34.16 51.1 JackintheBox JACK 31 113.30 61.78 111.64 34.93 45.5 MonarchCasino MCRI 20 27.16 17.29 25.78 3.06 PowellIndustries POWL 29 47.24 23.00 39.00 12.97 49.8
Gentex GNTX 16 20.39 12.93 19.69 3.68 23.0 13.5
PowerIntegrations POWI 42 70.00 39.53 67.85 19.22 39.5
DianaContainer DCIX dd 26.17 2.00 2.78 -3.62 -56.6 Gentherm THRM 16 46.99 26.60 33.85 -13.55 -28.6 Jamba JMBA dd 13.82 9.25 10.30 -3.19 -23.6 Mondelez MDLZ 88 46.40 35.88 44.33 -0.51 -1.1
DicernaPharma DRNA dd 12.05 2.69 2.88 -8.99 JamesRiver JRVR 20 42.17 25.86 41.55 8.01 23.9 MoneyGram MGI 69 12.72 4.68 11.81 5.54 PreferredBankLA PFBC 22 53.10 26.34 52.42 19.40 58.8
-75.7 GeospaceTech GEOS dd 23.20 7.62 20.36 6.29 44.7 88.4
PreformedLine PLPC 23 61.21 31.59 58.12 16.02 38.1
DigiIntl DGII 26 14.15 7.70 13.75 2.37 20.8 GermanAmerBncp GABC 23 54.46 29.24 52.61 19.29 57.9 JazzPharma JAZZ 19 160.00 95.80 109.03 -31.53 -22.4 MonolithicPower MPWR 74 88.08 55.05 81.93 18.22 28.6
Digimarc DMRC dd 44.94 25.04 30.00 -6.51 -17.8 Geron GERN dd 4.77 1.81 2.07 -2.77 -57.2 JetBlue JBLU 10 23.67 14.76 22.42 -0.23 -1.0 MonotypeImaging TYPE 42 25.37 17.31 19.85 -3.79 -16.0 PremierFinBncp PFBI 17 21.24 13.14 20.10 5.15 34.5
Digirad DRAD 8 6.15 4.15 5.00 -0.79 -13.6 GibraltarInds ROCK 36 48.05 18.23 41.65 16.21 63.7 JiveSoftware JIVE dd 4.59 2.84 4.35 0.27 6.6 MonroMuffler MNRO 30 73.86 52.05 57.20 -9.02 -13.6 Premier PINC dd 37.00 28.27 30.36 -4.91 -13.9
DimeComBcshrs DCOM 9 20.45 15.61 20.10 2.61 14.9 GIIIApparel GIII 17 55.89 24.41 29.56 -14.70 -33.2 JohnsonOutdoors JOUT 29 45.35 18.33 39.69 17.80 81.3 MonsterBeverage MNST 40 55.50 37.69 44.34 -5.31 -10.7 Presbia LENS dd 6.00 2.94 3.50 -1.76 -33.5
DimensionTherap DMTX dd 12.79 4.00 4.35 -6.93 -61.4 GilatSatellite GILT dd 5.50 3.24 5.01 1.59 46.4 JuniperPharm JNP dd 10.21 4.30 5.60 -4.70 -45.6 Morningstar MORN 25 89.44 67.74 73.56 -6.85 -8.5 Priceline PCLN 371600.93 954.021466.06 191.11 15.0
Diodes DIOD cc 27.17 16.58 25.67 2.69 11.7 GileadSciences GILD 7 103.10 70.83 71.61 -29.58 -29.2 JunoTherap JUNO dd 49.72 17.52 18.85 -25.12 -57.1 MotorcarParts MPAA 19 38.78 21.75 26.92 -6.89 -20.4 PriceSmart PSMT 29 94.86 68.51 83.50 0.51 0.6
DiscoveryComm B DISCB 16 30.80 23.85 29.15 2.12 7.8 GlacierBancorp GBCI 23 37.87 21.90 36.23 9.70 36.6 MtnProvDiamonds MPVD cc 5.52 2.56 5.05 2.20 77.2 PrimaBiomed PBMD dd 4.13 1.70 2.34 -1.46 -38.4
DiscoveryComm A DISCA
DiscoveryComm C DISCK
15 29.75 23.66 27.41 0.73 2.7 GladstoneComm GOOD dd 20.10 12.00 20.10 5.51 37.8 K Multi-Color LABL 26 79.75 40.16 77.60 17.79 29.7 PrimoWater PRMW 61 14.99 7.76 12.28 4.28 53.5
PrimorisSvcs PRIM 47 25.25 16.13 22.78 0.75 3.4
15 28.91 22.43 26.78 1.56 6.2 GladstoneLand LAND cc 12.00 6.72 11.24 2.59 29.9 MutualFirstFin MFSF 19 36.75 21.20 33.10 8.30 33.5
DixieGroup DXYN dd 5.56 3.00 3.60 -1.63 -31.2 GlbBloodTherap GBT dd 31.97 12.24 14.45 -17.88 -55.3 KEYW KEYW dd 13.57 3.91 11.79 5.77 95.8 Mylan MYL 75 54.44 33.60 38.15 -15.92 -29.4 PrivateBancorp PVTB 22 55.12 31.18 54.19 13.17 32.1
DollarTree DLTR 23 99.93 72.52 77.18 -0.04 -0.1 GlobalIndemnity GBLI 20 38.97 20.96 38.21 9.19 31.7 KLA Tencor KLAC 16 83.23 62.33 78.68 9.33 13.5 MyoKardia MYOK dd 22.83 6.24 12.95 -1.71 -11.7 ProgenicsPharm PGNX 54 9.78 3.61 8.64 2.51 40.9
DonegalGroup A DGICA 14 18.55 12.69 17.48 3.40 24.1 GlobalSources GSOL 8 9.48 6.03 8.85 1.05 13.5 KLX KLXI 94 47.24 25.33 45.11 14.32 46.5 MyriadGenetics MYGN 14 43.68 15.86 16.67 -26.49 -61.4 ProgressSoftware PRGS cc 32.47 22.01 31.93 7.93 33.0
DonegalGroup B DGICB 14 22.88 12.56 15.90 -0.62 -3.8 GlobalWaterRscs GWRS ... 9.29 6.23 9.10 2.85 45.6 K2MGroup KTWO dd 21.10 10.10 20.04 0.30 1.5 ProNAiTherap DNAI dd 14.71 1.32 1.49 -13.55 -90.1
Proofpoint PFPT dd 88.00 35.55 70.65 5.64 8.7
DorchesterMnls DMLP
DormanProducts DORM
33 19.30 8.57 17.55 7.66 77.5 GluMobile GLUU dd 4.00 1.73 1.94 -0.49 -20.2 KVH Inds
KaiserAlum KALU
KVHI 56 12.75 7.31 11.80 2.38 25.3 N ProQR Therap PRQR dd 8.96 3.48 4.90 -3.78 -43.5
26 79.03 40.17 73.06 25.59 53.9 GlycoMimetics GLYC dd 9.25 3.70 6.10 0.38 6.6 18 96.06 69.41 77.69 -5.97 -7.1
PTGX ... 26.36 10.02 21.99 10.29 87.9
DuluthHoldings DLTH 32 38.19 13.52 25.40 10.81 74.1 Gogo GOGO dd 17.79 7.80 9.22 -8.58 -48.2 KalVistaPharm KALV dd 51.10 6.09 7.07 -43.61 -86.0 Napco Security NSSC 27 8.55 5.05 8.50 2.60 44.1 n ProtagonistTherap PRTO dd 15.00 1.75 1.90 -13.61 -87.7
Dunkin' DNKN 37 56.13 36.44 52.44 9.85 23.1 GolarLNGPartners GMLP 9 24.76 8.02 24.04 10.66 79.7 Kamada KMDA dd 6.29 3.26 5.45 1.30 31.5 NBT Bancorp NBTB 24 42.49 23.81 41.88 14.00 50.2 n ProteonTherap PTI ... 20.63 5.27 12.26 5.62 84.6
Durect DRRX dd 2.29 0.99 1.34 -0.87 -39.4 GolarLNG GLNG ... 26.49 9.42 22.94 7.15 45.3 KandiTech KNDI 68 10.90 3.40 4.90 -6.00 -55.0 NCI NCIT 14 15.31 10.97 13.95 0.30 2.2 ProteostasisTher
GoldenEnt GDEN 9 14.07 8.65 12.11 1.88 18.4 KaryopharmTherap KPTI dd 13.97 4.83 9.40 -3.85 -29.1 NICE NICE 28 69.79 54.12 68.76 11.44 20.0 ProvidenceService PRTA
Prothena dd 68.18 28.20 49.19 -18.92 -27.8
E GoldenOcean GOGL dd 5.35 2.55 4.71 -0.64 -12.0 KearnyFinancial KRNY 82 16.10 11.31 15.55 2.88 22.7 NIC EGOV 31 25.90 14.48 23.90 4.22 21.4 ProvidentFin PRSC PROV
9 55.27 34.88 38.05 -8.87 -18.9
Goodyear GT 26 33.36 24.31 30.87 -1.80 -5.5 KellyServices A KELYA 7 23.61 14.63 22.92 6.77 41.9 NII Holdings NIHD dd 5.71 1.60 2.15 -2.90 -57.4 PrudentialBancorp PBIP 50 20.66
24 16.73 20.22 1.33 7.0
17.50 13.80 17.12 1.92 12.6
EDAPTMS EDAP 21 4.80 2.43 3.28 -0.85 -20.6 GoPro GPRO dd 20.50 8.54 8.71 -9.30 -51.6 KellyServices B KELYB 6 27.80 15.04 22.44 6.04 36.8 NMI Holdings NMIH dd 10.95 4.19 10.65 3.88 57.3 pSivida PSDV dd 4.82 1.50 1.71 -3.11 -64.5
EMC Insurance EMCI 18 31.18 21.62 30.01 4.71 18.6 GordmansStores GMAN dd 3.24 0.63 0.69 -2.46 -78.3 KemPharm KMPH dd 19.75 2.90 2.95 -16.91 -85.1 NN NNBR dd 20.39 10.34 19.05 3.11 19.5 Pulmatrix PULM dd 4.94 0.50 0.59 -3.61 -86.0
ESSA Bancorp ESSA 19 16.84 12.69 15.72 2.04 14.9 GovtPropIncoTr GOV 31 24.61 12.33 19.07 3.19 20.1 KtckyFstFdBcp KFFB 56 9.70 8.00 8.99 -0.35 -3.8 NXP Semi NXPI 37 107.54 61.61 98.01 13.76 16.3 QAD A QADA cc 30.90 17.11 30.40 9.88 48.1
E*TRADE ETFC 19 36.04 19.61 34.65 5.01 16.9 GrandCanyonEduc LOPE 20 61.80 31.12 58.45 18.33 45.7 KewauneeSci KEQU 13 27.60 15.82 24.45 6.66 37.4 NabrivaTherap NBRV dd 9.80 3.52 5.96 -3.66 -38.0 QAD B
EV Energy EVEP dd 3.59 1.51 2.09 -0.72 -25.6 n GreatElmCap GECC dd 12.37 10.35 11.67 -0.69 -5.6 KeyTechnology KTEC dd 13.74 6.25 11.56 1.19 11.5 Nanometrics NANO 40 26.00 12.50 25.06 9.92 65.5 QCR Holdings QADB QCRH
cc 26.20 13.79 25.55 7.15 38.9
21 44.80 18.05 43.30 19.01 78.3
EVINE Live EVLV dd 2.40 0.41 1.50 -0.28 -15.7 GreatElmCap GEC ... 4.10 3.45 3.75 -0.25 -6.3 KeyTronic KTCC 12 8.97 6.09 7.82 0.22 2.9 NanoStringTech NSTG dd 23.45 11.30 22.30 7.59 51.6 QIWI 13 17.85 10.42 12.77 -5.18 -28.9
EXFO EXFO 28 4.60 2.61 4.40 1.66 60.6 GreatLakesDredge GLDD dd 5.09 2.96 4.20 0.24 6.1 Kforce KFRC 18 25.00 14.87 23.10 -2.18 -8.6 n NantHealth NH ... 21.00 9.61 9.94 -8.65 -46.5 QIWI Qiagen QGEN 56 28.84 19.94 28.02 0.37 1.3
EagleBncpMT EBMT 17 24.00 11.15 21.10 8.74 70.7 GreatSouthernBncp GSBC 17 56.70 34.48 54.65 9.39 20.7 KimballElec KE 19 19.00 9.15 18.20 7.21 65.6 NantKwest NK dd 16.90 5.43 5.72 -11.61 -67.0 Qorvo
EagleBulkShip EGLE dd 70.00 4.06 5.85 -64.55 -91.7 GreenBancorp GNBC dd 15.55 6.61 15.20 4.72 45.0 KimballIntl B KBAL 25 18.00 9.45 17.56 7.79 79.7 Nasdaq NDAQ 24 71.92 55.27 67.12 8.95 15.4 Qualcomm QRVO QCOM
dd 64.80 33.30 52.73 1.83 3.6
17 71.62 42.24 65.20 15.21 30.4
EaglePharm EGRX 52 88.47 33.02 79.34 -9.33 -10.5 GreenPlains GPRE dd 29.85 12.38 27.85 4.95 21.6 KinsaleCapital KNSL ... 34.91 18.00 34.01 15.66 85.3 Natera NTRA dd 13.80 6.52 11.71 0.91 8.4 QSII dd 17.50 10.61 13.15 -2.97 -18.4
EarthLink ELNK dd 7.42 4.85 5.64 -1.79 -24.1 GreenPlainsPtrs GPP 12 21.75 12.41 19.80 3.55 21.8 Kirkland's KIRK 20 18.19 11.18 15.51 1.01 7.0 Nathan's NATH 39 66.50 40.04 64.90 13.34 25.9 QualitySystems QLYS 65 39.67 16.96 31.65 -1.44 -4.4
EastWestBancorp EWBC 18 51.73 27.25 50.83 9.27 22.3 GreenlightCapRe GLRE dd 24.10 16.05 22.80 4.09 21.9 KitePharma KITE dd 64.30 38.41 44.84 -16.78 -27.2 NationalAmerUniv NAUH dd 2.40 1.20 1.95 -0.12 -5.8 Qualys
Eastern EML 19 21.50 15.01 20.90 2.10 11.2 Gridsum GSUM ... 18.29 9.90 10.19 -5.56 -35.3 KonaGrill KONA dd 17.27 9.75 12.55 -3.31 -20.9 NationalBeverage FIZZ 29 64.73 32.35 51.08 5.64 12.4 Continued on Page R9
EXCHANGE-TRADED PORTFOLIOS 2016 TRADING SUMMARY

Net Pct Net Pct Net Pct Net Pct Net Pct
Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg
ALPS CohenStrs GRI 47.03 37.79 41.66 -0.86 -2.0 DBBaseMtlsShrtETN BOS 39.22 17.83 22.35 -6.65 -22.9 7-10YrTreasBear TYO 16.56 12.60 15.44 -1.22 -7.3 FT DorseyWright FVC 22.21 19.70 21.58 1.49 7.4 FlexQltyDivDynamic QDYN 39.14 29.15 38.17 4.67 13.9
ALPSEmgDivDogs EDOG 26.03 17.20 21.76 2.39 12.3 DBCommodityDblLong DYY 4.00 1.82 3.88 0.71 22.4 7-10YrTreaBull TYD 58.66 39.87 41.55 -2.65 -6.0 FTDorseyWrightFoc5 FV 23.88 18.68 23.14 -0.35 -1.5 FlexQualityDivid QDF 40.64 31.09 39.46 4.64 13.3
ALPS EqSecWgh EQL 62.10 48.57 59.98 5.23 9.5 DBCommodityDblShrt DEE 149.75 64.00 73.53 -22.61 -23.5 n DirexionSilvMinBr2 DULL 48.83 25.25 37.42 11.64 45.2 FTDorseyWrightIntl IFV 19.00 14.75 17.03 -0.86 -4.8 FlexSharesReady RAVI 76.01 74.56 75.51 0.41 0.5
ALPSIntlDivDogs IDOG 24.83 20.37 23.63 0.15 0.6 DBCommodityLongETN DPU 9.34 6.02 9.15 0.61 7.1 n DirexionSilvMinBl2 SHNY 30.47 8.97 10.59 -13.57 -56.2 FstTrDJGlblDiv FGD 24.13 19.20 23.30 1.54 7.1 FlexRealAsset ASET 27.30 21.95 25.51 1.15 4.7
ALPSMedBreak SBIO 31.25 19.18 22.92 -8.84 -27.8 DBCommodityShrtETN DDP 70.00 38.70 54.30 -3.68 -6.3 DrxSmlCapBear 3x TZA 74.00 18.56 19.85 -25.15 -55.9 FstTrDJIntrnt FDN 83.10 56.60 79.83 5.22 7.0 FlexSharesSTOXXGlb NFRA 46.08 37.33 43.27 2.14 5.2
ALPSSectorDivDogs SDOG 43.59 30.77 42.07 6.52 18.3 DBCrudeOilDblShrt DTO 274.34 100.28 104.97 -53.15 -33.6 DirexionSCBull2X SMLL 41.52 19.81 39.64 10.27 35.0 FT MultAsstDiv MDIV 19.85 16.20 19.11 0.77 4.2 FlexSTOXXGlbESGImp ESGG 78.63 74.89 78.28 2.71 3.6
ARKGenomicRev ARKG 20.47 15.00 16.93 -4.04 -19.3 DBCrudeOilLongETN OLO 6.93 3.76 4.77 0.14 3.0 DrxSmlCapBull 3x TNA 109.18 35.52 101.15 37.62 59.2 FT NasdTechDiv TDIV 30.27 22.21 29.58 4.31 17.1 FlexSTOXXUSESGImp ESG 53.65 49.91 52.67 2.38 4.7
ARKIndlInnovation ARKQ 23.03 14.35 21.96 2.78 14.5 DBCrudeOilShortETN SZO 124.00 73.94 78.18 -13.52 -14.7 DirexionSCBll1.25X LLSC 31.32 20.75 31.22 6.23 24.9 FT EM Alphadex FEM 21.65 15.39 20.31 2.34 13.0 FlexUSQualityLC QLC 28.62 23.18 27.77 1.82 7.0
ARKInnovationETF ARKK 22.41 14.67 20.05 -0.41 -2.0 DBGoldDoubleLgETN DGP 31.42 18.56 20.12 1.98 10.9 DirexDailyKRBull3X KORU 33.15 16.00 24.25 1.51 6.6 FT EM LocalCurr FEMB 46.72 38.20 40.14 0.56 1.4 n FranklinLibInvGrd FLCO 25.08 23.95 24.18 -0.90 -3.6
ARKWebx.0ETF ARKW 26.02 16.14 25.09 1.92 8.3 DBGoldDoubleShrt DZZ 8.69 4.80 6.86 -2.02 -22.7 n DirexionTechBear1X TECZ 26.51 21.11 22.29 -3.02 -11.9 FT EM SC Alpha FEMS 33.80 23.44 30.14 3.08 11.4 FranklinShrtDurUS FTSD 102.85 96.83 97.28 -0.99 -1.0
AdvisorAthenaHiDiv DIVI 18.53 12.70 17.97 3.08 20.7 DBGoldShortETN DGZ 16.92 12.73 15.35 -1.75 -10.2 DX DLYBNDMKT1XBR SAGG 33.19 30.92 32.00 -0.99 -3.0 FstTrEngyAlpDx FXN 17.95 10.28 16.51 2.66 19.2 FranklinUSLowVol FLLV 25.70 24.34 25.70 0.22 0.9
n AdvisorCornerSC SCAP 31.99 25.13 30.03 4.81 19.1 DeepValueETF DVP 28.23 18.62 26.35 4.52 20.7 DXN DL 20+YR1XBR TYBS 22.50 18.49 21.82 -0.78 -3.5 FT EnhShtMat FTSM 60.44 59.78 59.94 0.12 0.2 n FranklinLibertyQEM FLQE 28.93 25.81 26.61 0.37 1.4
AdvisorDorseyADR AADR 42.49 33.98 40.18 1.65 4.3 DeutscheXIntCorpBd IFIX 49.95 49.22 49.66 -0.29 -0.6 20+YrTreaBear TMV 27.90 15.03 23.98 -4.00 -14.3 FT EuropeAlpha FEP 30.46 25.09 29.18 -0.41 -1.4 n FranklinLibQGlbDiv FLQD 26.96 24.77 25.67 -0.17 -0.7
AdvisorFocusedEqu CWS 27.24 24.34 25.98 0.75 3.0 DeutscheXIntTreaBd IGVT 49.86 48.74 48.74 -1.12 -2.2 Direx20+YrTrBull TMF 31.58 16.91 18.09 -0.47 -2.5 FT EurozoneAlpha FEUZ 33.07 27.26 32.58 1.14 3.6 n FranklinGlbEquity FLQG 27.16 25.00 25.36 -0.22 -0.9
AdvShGartmGoldEuro GEUR 14.92 11.21 11.60 0.36 3.2 DeutschextrkrsCSI300ChinaA-SharesHdgEquity ASHX 24.28 18.67 18.83 -6.60 -26.0 DrxTechMktBear 3x TECS 43.26 16.51 17.61 -13.49 -43.4 FstTrDJSelMcroCp FDM 44.93 28.37 44.10 11.20 34.0 n FranklinIntlEquity FLQH 26.20 23.49 23.49 -2.15 -8.4
AdvShGartmGoldYen GYEN 13.25 10.61 10.71 -0.43 -3.9 DeutsxDJHdRealEst DBRE 24.05 20.89 21.75 -1.11 -4.9 DrxTechMktBull 3x TECL 53.36 25.02 49.94 13.51 37.1 FstTrFTSE DevRE FFR 48.19 38.21 42.30 -0.38 -0.9 GldmnSchsGSCnnct GSC 23.85 16.64 23.30 3.23 16.1
AdvisorShrsGlbEcho GIVE 63.20 54.00 60.00 -0.45 -0.7 DBXEmergingMktsBd EMIH 24.85 22.40 24.42 0.67 2.8 DirexniBillionaire IBLN 26.00 21.09 25.11 0.77 3.1 FstTrFnlAlpDx FXO 27.57 19.52 27.03 3.85 16.6 GaveKalLdrDevWorld KLDW 27.55 22.09 26.36 1.53 6.2
AdvisorShsKIMKorea KOR 25.32 22.95 23.11 -2.21 -8.7 DeutschexFTSEDev DEEF 26.27 22.73 23.88 -1.09 -4.4 DirexionNASD100EW QQQE 70.65 54.07 68.73 3.81 5.9 FT GerAlpha FGM 38.19 30.65 36.35 0.14 0.4 GaveKalLeadersEM KLEM 25.25 20.53 22.17 -0.44 -2.0
ASMktAdaptiveUn MAUI 24.45 21.94 23.77 0.92 4.0 DeutscheXFTSEEmCmp DEMG 26.85 23.03 24.68 -0.70 -2.8 DirexionZacksMLPHi ZMLP 19.91 11.94 18.87 1.48 8.5 FirstTrGlbEngg FLM 50.72 37.96 49.19 4.95 11.2 GlbXBrazilConsumer BRAQ 15.09 6.66 12.05 4.05 50.6
AdvMorganCreekGlb GTAA 24.05 21.28 22.92 0.43 1.9 DeutscheXHarCSI300 ASHR 26.19 20.90 23.45 -4.53 -16.2 EmgMktInternetEcom EMQQ 27.98 18.50 22.84 -0.94 -4.0 FTGlTacticalCommod FTGC 23.20 18.85 20.41 0.10 0.5 GlblXBrazilMidCap BRAZ 10.10 5.21 8.90 2.87 47.6
AdvisorShNewfleet MINC 49.12 48.17 48.57 0.20 0.4 DeutscheXCSI500ChA ASHS 39.39 28.58 32.29 -9.17 -22.1 ETFSPhyPrecMtllBsk GLTR 70.35 51.86 57.56 5.27 10.1 FirstTrGlbWindEner FAN 13.76 9.89 11.70 0.34 3.0 GlblXChnConsmr CHIQ 12.61 9.46 11.20 -0.96 -7.9
AdvisorShPacAsEnFR FLRT 56.89 46.95 50.08 2.90 6.1 DBXHighYieldCorpBd HYIH 23.85 19.90 23.45 1.93 9.0 ETFSZacksEarnLCUS ZLRG 27.17 20.97 27.17 4.18 18.2 FstTrHthCAlpDx FXH 61.96 48.81 57.30 -3.15 -5.2 GlblX ChEnrgy CHIE 10.90 8.33 9.74 -0.36 -3.5
AdvShsPeritusHiYd HYLD 35.96 29.63 35.65 3.01 9.2 DBXInvGradeBd IGIH 24.92 22.43 24.20 0.27 1.1 ETFSZacksEarnSCUS ZSML 26.80 18.95 26.59 4.84 22.2 FTHeitmanPrmRlEst PRME 21.72 18.26 19.35 -1.03 -5.1 GloblXChnFincl CHIX 15.01 10.42 12.81 -0.88 -6.5
QAM Equity Hedge QEH 27.98 24.65 27.86 0.54 2.0 DeutscheXNikkei400 JPN 24.91 19.84 24.15 0.50 2.1 AlphaCloneIntl ALFI 21.16 18.31 19.04 -0.86 -4.3 FirstTrHiIncm FTHI 21.95 17.68 21.26 1.19 5.9 GlblXChnaIndust CHII 13.12 9.64 11.88 -0.77 -6.1
AdvrShRangerEqBear HDGE 13.19 8.94 9.25 -1.51 -14.0 DeutscheXNikkei400 JPNH 22.73 19.09 22.73 -0.67 -2.9 ETRACS Alerian MLP AMU 20.57 12.78 19.87 1.65 9.1 FT HK AlphaDEX FHK 36.81 24.66 32.24 -1.38 -4.1 GlblX ChnMtrs CHIM 14.82 10.39 13.62 1.58 13.1
STARGlobalBuyWrite VEGA 27.94 23.65 27.65 1.77 6.8 DeutscheXACAPxJ DBAP 24.12 19.67 22.87 0.86 3.9 ETRACSAlerianMLP AMUB 19.90 13.02 19.90 3.71 22.9 FTHorizonMgdVolDev HDMV 30.49 27.44 27.84 -1.96 -6.6 n GlbXConsciousCos KRMA 16.44 14.88 15.99 0.71 4.6
AdvisorSageCore HOLD 100.00 98.87 99.26 0.36 0.4 DeutscheXAllChina CN 31.80 24.00 26.19 -4.82 -15.5 ETRACSAlernMLPInfr MLPB 28.42 17.56 27.84 5.31 23.6 FTHorizonMgdVolDom HUSV 21.29 19.03 20.07 0.07 0.3 GlbXCopperMiners COPX 23.38 8.66 20.00 8.19 69.3
AdvisWilshireBuybk TTFS 66.15 47.87 63.55 9.46 17.5 DeutscheXMSCIAWxUS DBAW 24.21 19.72 23.98 0.85 3.7 ETRACSMthPay2xLev CEFL 18.82 11.55 16.75 1.40 9.1 FstTr ISE ChIndia FNI 31.27 22.35 27.33 -1.03 -3.6 GlblXFTSEAndean40 AND 8.44 5.23 7.84 1.62 26.0
AlerianEnergyInfr ENFR 24.20 13.51 23.84 6.40 36.7 DeutscheXAllxUSHiD HDAW 24.83 20.01 24.64 1.97 8.7 ETRACSMthPay2xLev DVHL 23.32 12.57 21.66 4.75 28.1 FT GlblAgri FTAG 23.56 17.45 22.85 1.95 9.3 GlbXFTSENordReg GXF 22.19 18.40 18.97 -2.46 -11.5
AlerianMLPETF AMLP 13.06 7.77 12.60 0.55 4.6 DeutscheXAustralia DBAU 25.97 22.01 25.97 1.54 6.3 DJ 2xSelect Div DVYL 62.02 37.34 60.25 15.47 34.5 FT GlbNatRscs FTRI 11.84 8.00 11.51 1.78 18.3 GlbXFertilizersPot SOIL 9.36 7.61 8.97 -0.04 -0.5
AlphaCloneAltAlpha ALFA 36.95 31.75 35.20 -2.29 -6.1 DeutscheXMSCIBrazl DBBR 11.58 7.02 10.28 2.24 27.9 ETRACSMortgageREIT MORL 16.37 8.16 15.58 2.30 17.3 FstTrInPrAlpDx FXR 34.25 22.17 32.88 6.78 26.0 GlbXFinTechThem FINX 15.54 14.53 14.65 -0.29 -1.9
AlphaMarkActiveMgd SMCP 23.36 18.35 22.30 0.35 1.6 DeutscheXMSCIEAFE DBEF 28.29 22.80 28.06 0.90 3.3 S&P2xDivAristoETN SDYL 70.28 41.30 68.02 15.57 29.7 FT Intl IPO FPXI 27.99 22.07 25.60 -1.54 -5.7 GlblXGoldExplorers GOEX 45.90 14.58 20.70 4.27 26.0
AmCustSatisfCore ACSI 28.03 24.53 26.97 2.19 8.8 DeutscheXEAFEHiDiv HDEF 23.98 20.50 23.27 0.29 1.3 ETRACS2xLevUSHiDiv HDLV 35.25 22.45 31.53 4.92 18.5 FT JapanAlpha FJP 50.07 39.50 47.59 0.43 0.9 GlbXGuruActivist ACTX 14.59 11.04 14.24 1.46 11.4
AmplifyOnlineRet IBUY 28.41 22.94 27.20 1.89 7.5 DeutscheXEAFESC DBES 24.69 20.77 24.20 -1.14 -4.5 ETRACS2xLevxEn LMLP 12.87 7.50 11.46 -1.21 -9.6 FT LC CoreAlpha FEX 50.00 37.80 48.77 5.51 12.7 GlblXGuruIndexETF GURU 24.58 18.74 24.03 0.81 3.5
AmplifyYieldCWP DIVO 25.15 24.88 24.88 -0.14 -0.6 DeutscheXMSCIEMHdg DBEM 20.50 16.22 19.25 0.97 5.3 ETRACS2xLevUSREIT LRET 33.34 20.05 26.51 0.49 1.9 FT LC GrwthAlpha FTC 51.67 42.01 49.04 0.83 1.7 GlbXGuruIntlIndex GURI 14.17 10.62 13.34 0.88 7.1
AmplifyYdPrime5Div PFV 27.42 24.30 26.67 1.34 5.3 DeutscheXEMHighDiv HDEE 23.19 19.16 21.56 -0.08 -0.4 ETRACSMthPay2xLev MRRL 16.45 8.41 15.64 2.27 17.0 FT LC Value FTA 48.23 32.93 46.87 8.43 21.9 n GlobalXHealth BFIT 16.17 14.49 14.54 -0.74 -4.9
n AptusBehavioralMom BEMO 26.86 23.91 25.87 0.68 2.7 DeutscheXMSCIEur DBEU 26.51 22.02 25.37 -0.48 -1.9 ETRACSMthlyPay2x SMHD 23.25 8.08 22.75 8.21 56.5 FT LatAmer Alpha FLN 20.25 11.53 18.61 5.40 40.9 GlbXInternetofThng SNSR 16.67 14.49 15.61 0.42 2.8
ArrowDJGlobalYd GYLD 19.85 14.44 18.43 1.27 7.4 DeutschextrMSCIEur DBEZ 26.91 21.71 26.81 0.65 2.5 ETRACSMnthly2xLev SPLX 38.62 24.22 37.52 6.41 20.6 FT Long/Short FTLS 35.46 30.09 34.50 1.77 5.4 GlbXJPMEfficiente EFFE 24.93 21.60 24.67 2.41 10.8
ArrowInvDWATact DWAT 10.71 9.18 10.30 0.40 4.1 DeutscheXEuroHiDiv HDEZ 24.80 20.51 24.80 0.42 1.7 ETRACSMnly2xLevISE HOML 26.61 11.63 24.17 1.55 6.9 FT LowBetaIincm FTLB 22.36 18.04 21.11 1.36 6.9 GlXJPMUSSecRotator SCTO 24.97 21.61 23.99 1.40 6.2
ArrowQVMEquityFact QVM 24.55 19.57 23.93 1.00 4.4 DeutscheXMSCIGerm DBGR 25.31 19.87 25.20 1.19 5.0 ETRACSS&PGSCICrude OILX 35.48 23.19 33.61 8.78 35.4 FTLowDurationOpp LMBS 53.84 50.18 52.18 1.75 3.5 GlblXJrMLPETF MLPJ 8.63 5.80 8.62 0.75 9.5
BLDRSAsia50ADS ADRA 29.80 22.39 27.37 0.37 1.4 DeutscheXItalyHdg DBIT 18.26 16.33 18.26 -3.80 -17.2 n ETRACS2xMLvAlerian MLPQ 55.62 19.43 53.90 30.65 131.8 FT MgdMuni FMB 54.39 50.56 51.19 -0.82 -1.6 GlobalXLithiumETF LIT 25.95 17.03 24.38 4.29 21.4
BMOElkhornDWAMLP BMLP 52.34 51.11 52.25 1.14 2.2 DeutscheXMSCIJapan DBJP 38.47 29.15 37.22 -0.87 -2.3 n ETRACS2xMLevS&PMLP MLPZ 58.10 21.18 56.78 33.53 144.2 FstTrMatAlpDX FXZ 37.69 24.09 35.83 7.73 27.5 n GlbXLongevityThem LNGR 16.87 14.91 15.33 -0.06 -0.4
PathS&P500VIXMT VXZ 56.40 33.65 34.85 -9.71 -21.8 DeutscheXMSCMexico DBMX 22.56 19.28 19.46 -0.76 -3.8 ETRACSUBSBloomberg UCIB 14.30 11.07 14.18 1.99 16.3 FT MegaCap FMK 28.84 22.95 27.98 1.58 6.0 GlbXMLP&EnergyInfr MLPX 15.34 8.45 14.85 3.24 27.9
iPathS&P500VIXST VXX 123.40 23.62 25.51 -54.89 -68.3 DeutscheXMSCSKorea DBKO 24.60 20.86 24.52 2.11 9.4 ETRACSWFBusDev BDCZ 22.53 18.26 22.53 2.26 11.1 FT MC CoreAlpha FNX 58.16 41.36 56.39 8.33 17.3 GlobalXMLPETF MLPA 11.88 7.02 11.57 1.18 11.4
BarclyiPathBCrude OILB 58.38 48.84 57.15 6.88 13.7 DeutscheXSEurope DBSE 22.28 17.00 20.09 -2.18 -9.8 E-TRACS Agri UAG 23.03 17.61 19.98 1.79 9.9 FTMidCapGrowth FNY 32.40 25.04 31.39 2.55 8.8 GlbXMSCIArgentina ARGT 24.66 15.07 23.06 4.98 27.6
BarcETNFIEnhEur50 FEEU 96.52 61.06 87.67 -6.13 -6.5 DeutscheXSpainHdg DBSP 21.79 17.43 21.78 -3.06 -12.3 E-TRACS Engy UBN 9.36 4.02 7.68 1.68 28.0 FTMidCapValue FNK 34.11 22.39 32.92 6.47 24.5 GlbXMSCIColombia GXG 10.18 6.53 9.12 1.66 22.3
n BarclaysETN FI Enh FLEU 108.13 94.13 107.04 6.79 6.8 DeutscheXMSCIUK DBUK 24.95 19.52 20.28 -1.77 -8.0 E-TRACS CMCI UCI 14.68 10.45 14.20 2.13 17.6 FstTrMngstrDiv FDL 28.30 22.25 27.75 4.05 17.1 GlblXMSCIGreeceETF GREK 9.06 5.56 7.79 -0.17 -2.1
BarcETN+FIEnhGlHY FIGY 135.25 81.02 129.60 17.72 15.8 DeutscheXMuniRev RVNU 28.30 24.89 25.74 -0.55 -2.1 E-TRACS Food FUD 22.53 17.93 19.78 1.21 6.5 FirstTrMgdFut FMF 57.17 44.12 47.21 -2.03 -4.1 GlbXMSCINigeria NGE 7.64 4.13 4.26 -2.80 -39.7
S&PVEQTOR VQT 141.99 129.64 136.62 -1.32 -1.0 DeutschexRuss1000 DEUS 28.22 22.82 27.05 2.08 8.3 E-TRACS Gold UBG 35.99 27.54 29.03 1.88 6.9 FstTrMCGrAlpDX FAD 54.07 43.05 52.33 2.61 5.2 GlblXMSCINorwayETF NORW 11.75 8.10 11.04 1.35 13.9
BarclaysETN+Select ATMP 23.88 13.41 23.55 4.94 26.5 DeutscheXRuss2000 DESC 32.47 25.40 31.81 6.41 25.2 E-TRACS IndMtl UBM 15.26 10.86 14.48 2.80 24.0 FT MuCValAlpha FAB 52.01 34.47 50.47 9.73 23.9 GlbXMSCIPakistan PAK 17.79 12.00 17.50 4.48 34.4
BarclaysETNShiller CAPE 100.98 73.45 95.98 14.68 18.1 DeutxTrkS&PHdgGlb DBIF 24.40 20.05 23.53 2.06 9.6 E-TRACS Lvstk UBC 19.45 14.39 16.83 -1.91 -10.2 FTMuniCEFIncmOpp MCEF 20.35 17.93 18.43 -1.72 -8.5 GlbXMSCIPortugal PGAL 10.50 8.59 9.31 -0.80 -7.9
BarcInverseUSTrea TAPR 32.17 14.90 27.70 -5.29 -16.0 n DeutscheXUSDHiYd HYLB 50.57 50.13 50.41 0.04 0.1 E-TRACS Silvr USV 27.00 17.97 21.00 2.29 12.2 FT NasdComBk QABA 54.28 32.40 52.80 13.82 35.5 GlbXMSCISuperDiv EFAS 15.83 14.69 15.71 0.86 5.8
BarcRetDisability RODI 55.97 47.87 55.47 -0.92 -1.6 n DhandhoJunoonETF JUNE 28.00 22.78 26.50 1.51 6.0 ETracsLngPlat PTM 12.94 8.50 9.46 0.02 0.2 FT NasdCleanEdge QCLN 16.06 12.50 15.41 -0.64 -4.0 GlbXISuperDivEM SDEM 15.13 10.46 14.70 2.42 19.7
BarclaysWILETN WIL 60.50 47.32 58.74 7.03 13.6 DiamondHillVal DHVW 26.53 20.53 25.78 2.27 9.7 EcoLogicalStrategy HECO 46.00 31.43 36.53 0.88 2.5 FT NasdClEdSmGr GRID 42.59 27.88 40.50 7.11 21.3 n GlbXMillThematic MILN 16.22 14.40 15.61 0.72 4.8
Barrons400ETF BFOR 36.00 25.75 35.04 4.82 15.9 DXN ALCAP IN SENT KNOW 82.27 61.98 76.52 5.37 7.5 ElemntsDJSelct DOD 25.91 14.13 18.51 3.00 19.3 FT NasdCybersec CIBR 20.48 13.92 19.52 1.76 9.9 GlbXNASDAQChinaTch QQQC 24.60 18.09 21.22 -1.75 -7.6
BioShrsBiotech BBC 28.53 16.06 18.41 -10.64 -36.6 DirexnBrazilBull3X BRZU 50.35 6.60 31.05 19.42 167.0 ElemntsRogrMrngstr WMW 25.12 18.00 24.67 4.44 21.9 FT NasdGlblAuto CARZ 35.66 28.48 34.42 -1.80 -5.0 GlbXNextEmerging EMFM 21.90 15.15 18.46 1.22 7.1
BioSharesBiotech BBP 36.41 21.47 32.75 1.93 6.3 n DirexnCSIChinaInt CWEB 27.58 19.57 19.82 -4.47 -18.4 ElemntsRogrAgri RJA 7.02 5.90 6.31 0.06 0.9 FT Nasd100xTech QQXT 41.52 34.50 40.41 -1.06 -2.6 GlobalXPermanent PERM 26.48 23.02 24.29 1.19 5.2
BldrsDev100 ADRD 20.82 17.74 19.97 -0.97 -4.6 DirexnCSI300CNA1X CHAD 52.84 38.73 42.73 0.59 1.4 ElemntsRogrEngy RJN 2.77 1.76 2.72 0.39 16.7 FT Nasd100Tech QTEC 54.20 35.85 52.66 10.01 23.5 GlobalXRobotics&AI BOTZ 16.68 14.69 15.00 0.24 1.6
BldrsEmg50 ADRE 36.29 24.85 32.25 3.18 10.9 DirexionCSI300CNA CHAU 20.89 13.09 16.98 -6.24 -26.9 ElemntsRogrMtls RJZ 8.09 6.17 7.48 0.99 15.3 FT NasdSmartphone FONE 41.81 31.63 41.46 5.11 14.0 GlbXS&P500Catholic CATH 27.81 23.95 27.14 1.89 7.5
BldrsEur100 ADRU 20.41 17.61 19.21 -1.28 -6.2 DirexnCyberBear2X HAKD 68.75 27.86 28.95 -12.35 -29.9 ElemntsRogrTr RJI 5.27 4.08 5.19 0.56 12.1 FT NasdaqBank FTXO 26.78 19.95 26.00 5.39 26.2 GlbXSciBetaAsiaXJ SCIX 24.54 19.01 21.10 -0.14 -0.7
BluStrTABIGIIsrael ITEQ 26.20 19.79 24.93 0.83 3.4 DirexnCyberBull2X HAKK 43.68 15.64 35.28 -1.37 -3.7 ElemntsSpectrmLC EEH 17.16 13.52 16.41 1.11 7.3 FT NasdFood&Bev FTXG 20.79 19.06 19.98 -0.03 -0.1 GlbXSciBetaEurope SCID 24.17 20.66 22.20 -1.44 -6.1
BullMarkLatSelLdrs BMLA 31.33 24.76 26.90 2.08 8.4 DrxDevMktBear 3x DPK 45.20 22.56 24.38 -6.53 -21.1 ElemntsBiofuels FUE 10.50 7.09 7.65 0.15 2.0 FT NasdOil&Gas FTXN 23.21 20.00 22.05 2.05 10.2 GlbXSciBetaJapan SCIJ 27.99 22.36 26.39 1.06 4.2
CSFIEnhBigCapGrwth FIBG 64.72 48.32 63.82 5.27 9.0 DrxDevMktBull 3x DZK 50.95 31.72 45.05 -4.87 -9.8 ElemntsGrain GRU 4.98 3.64 3.79 -0.32 -7.7 FT NasdPharm FTXH 20.44 18.03 18.34 -2.10 -10.3 GlbXSciBetaUS SCIU 27.14 21.50 26.38 2.10 8.6
CSOPChinaCSI300AH HAHA 28.16 24.24 27.84 -2.11 -7.0 DrxEmMktBear 3x EDZ 71.59 21.23 25.25 -21.73 -46.3 ElkhornComRotation DWAC 26.59 23.96 24.58 -0.66 -2.6 FT NasdRetail FTXD 22.35 19.77 20.28 0.39 1.9 GlbXSilverMiners SIL 54.34 14.94 32.11 13.60 73.5
CSOPFTSEChinaA50 AFTY 14.28 11.09 12.95 -1.28 -9.0 DrxEmMktBull 3x EDC 69.78 28.44 52.84 6.80 14.8 ElkhornFTSEUSEqu ELKU 28.50 23.03 27.81 2.85 11.4 FT NasdSemicon FTXL 23.83 19.65 23.03 2.89 14.3 GlobalXSocialMedia SOCL 25.81 15.55 21.62 1.75 8.8
CSOPMSCIChinaAInt CNHX 29.24 23.10 25.50 -5.82 -18.6 DrxEnrgBear 3x ERY 48.66 8.59 9.53 -19.78 -67.5 n ElkhornFundComm RCOM 26.10 24.64 25.29 0.15 0.6 FT NasdaqTrans FTXR 23.70 20.21 22.68 2.38 11.7 GlbXSoutheastAsia ASEA 14.38 11.01 12.79 0.66 5.4
n CTracksETN2026 MLPE 27.46 23.41 24.21 -1.29 -5.1 n DirexionEnBear1X ERYY 25.37 18.77 20.20 -4.93 -19.6 ElkhornLuntLowVol LVHB 30.17 24.54 28.46 3.34 13.3 FT Nasd100 EW QQEW 47.36 36.27 46.21 2.73 6.3 GlbXSuperDividAlt ALTY 16.58 12.12 14.87 1.02 7.4
CTrksETNsMillerHwd MLPC 17.09 10.89 16.70 1.24 8.0 DrxEnrgBull 3x ERX 44.55 12.85 39.91 16.48 70.3 ElkhornS&P500Cap CAPX 26.47 20.12 25.80 3.05 13.4 FirstTrNaturalGas FCG 28.65 14.60 26.17 3.87 17.4 GlblXSuperDividend SDIV 21.90 17.01 20.81 1.09 5.5
CambriaEmSharehldr EYLD 32.28 24.83 26.50 1.15 4.5 n DirexionEuroFinBr1 EUFS 25.13 20.67 21.34 -3.36 -13.6 ElkhornS&PHiQualPf EPRF 27.79 22.79 23.19 -1.95 -7.8 FT NA Energy Infra EMLP 25.72 17.22 25.24 5.06 25.1 GlbXSuperDivdREIT SRET 15.85 11.03 14.34 1.70 13.4
CambriaGlbMomentum GMOM 24.03 22.01 23.20 0.62 2.7 DirexionEurFinBll2 EUFL 36.81 24.51 31.81 6.31 24.7 EnSelectSectorSPDR XLE 78.45 49.93 75.32 15.00 24.9 FstTrNYSE Biotch FBT 111.19 76.11 90.88 -22.14 -19.6 GlbXSuperDivUS DIV 25.90 20.97 24.73 0.79 3.3
CambriaGlbValue GVAL 20.31 15.78 20.20 2.48 14.0 DirexionChBear3X YANG 44.91 13.03 16.91 -7.87 -31.8 ETFS GoldTr SGOL 133.68 104.52 111.76 8.27 8.0 FirstTrPfdETF FPE 20.31 17.67 18.99 0.04 0.2 GlbXSuperIncPfd SPFF 13.98 11.94 12.80 -0.35 -2.7
CambriaShareholder SYLD 33.67 25.20 32.53 3.63 12.6 DirexionChBull3X YINN 21.09 8.51 14.98 -2.76 -15.6 ETFS PlldmShr PALL 74.37 45.05 65.21 11.04 20.4 FT RBA AmerInd AIRR 25.28 13.77 23.65 7.14 43.2 GlobalXUraniumETF URA 16.04 11.31 12.87 -1.12 -8.0
CitigrCTracksETN DIVC 30.50 21.07 30.07 5.10 20.4 DirexFTSEEurBull3x EURL 24.91 14.48 19.98 -4.32 -17.8 ETFS PltnmShr PPLT 113.77 78.30 86.41 0.58 0.7 FTRBAQualityIncm QINC 23.61 18.26 22.91 2.83 14.1 GlbXYieldcoIndex YLCO 11.89 8.99 10.85 0.13 1.2
ClaymoreIdxLnk GCE 16.21 12.42 15.68 0.73 4.9 DrxFinancBear 3x FAZ 68.42 20.89 21.72 -19.46 -47.3 ETFS SilvTr SIVR 20.30 13.50 15.59 2.03 15.0 FT RisingDivAch RDVY 25.47 17.80 24.67 3.94 19.0 GSActiveBetaEM GEM 29.35 21.46 26.76 1.69 6.7
ColumbiaBeyBRICs BBRC 16.79 12.65 14.85 0.35 2.4 n DirexionFinBear1X FAZZ 25.84 18.49 18.88 -6.54 -25.7 EthoClimateLeader ETHO 29.33 21.58 27.63 2.99 12.1 FTRiverFrontDynAP RFAP 53.92 48.26 51.38 -0.54 -1.0 n GSActiveBetaEurope GSEU 27.33 23.23 25.64 -0.12 -0.5
ColumbiaCoreBdETF GMTB 53.39 50.80 51.09 -0.13 -0.3 DrxFinancBull 3x FAS 42.83 16.13 40.90 11.83 40.7 FIEnhancedEur50ETN FIEU 100.05 70.76 90.97 -7.16 -7.3 FTRiverFrontDynDev RFDI 54.30 46.04 52.53 1.34 2.6 GSActiveBetaIntlEq GSIE 25.61 21.48 24.36 0.06 0.2
ColumbiaEMCoreXCh XCEM 24.87 16.72 22.60 2.60 13.0 DXNDLYGLDMNR3 BL NUGT 35.80 3.48 7.64 2.78 57.3 FIEnhEurope50ETN FIEE 127.68 91.42 118.05 11.05 10.3 FTRiverFrontDynEM RFEM 60.47 49.05 52.79 2.39 4.7 n GSActiveBetaJapan GSJY 29.02 25.05 27.28 0.95 3.6
ColumbiaEMQualDiv HILO 14.05 10.19 12.63 1.16 10.1 DXNDLYGLDMNR3xBR DUST1048.00 22.80 48.37 -777.63 -94.1 FIEnhancedGlbHiYd FIEG 135.22 89.89 130.09 18.71 16.8 FTRiverFrontDynEur RFEU 53.01 45.68 52.37 1.36 2.7 GoldmanSachsUSLC GSLC 45.40 36.99 44.36 2.85 6.9
ColumbiaEMStratOpp EMDD 20.24 15.35 16.88 -0.85 -4.8 DirexionGoldBear1X MELT 35.76 22.40 29.44 6.22 26.8 FidelityCoreDiv FDVV 26.89 24.24 26.15 1.00 4.0 FT SSI Strat FCVT 27.91 22.24 26.00 1.45 5.9 n GSHedgeIndVIP GVIP 43.22 39.08 42.31 3.09 7.9
ColumbiaEMConsumer ECON 25.96 18.20 22.15 0.89 4.2 DirexionHlthcrBr3X SICK 55.67 29.73 35.92 -1.56 -4.2 FidelityCorpBd FCOR 53.57 46.50 49.38 2.05 4.3 FTSTOXXEurSel Div FDD 12.75 10.72 11.87 -0.31 -2.5 n GSTreasury0-1Y GBIL 100.07 99.96 100.03 -0.01 ...
ColumbiaEMCoreETF EMCR 19.68 13.95 17.26 1.06 6.5 DXNHEALTHCRBULL3X CURE 37.40 21.51 27.57 -5.83 -17.5 FidelityDivRising FDRR 28.60 24.56 26.49 1.24 4.9 FT SrLoanFd FTSL 48.63 46.18 48.55 1.68 3.6 BulletShs2017CB BSCH 22.80 22.49 22.61 0.09 0.4
ColumbiaIndiaCnsmr INCO 37.34 27.02 32.39 0.28 0.9 DirexionHiYdBear2X HYDD 25.29 21.03 21.13 -3.97 -15.8 FidelityLtdTermBd FLTB 52.59 48.43 49.96 0.27 0.5 FT SC CoreAlpha FYX 55.88 37.41 53.84 9.66 21.9 GuggenheimBRIC EEB 31.06 20.16 28.80 4.46 18.3
ColumbiaIndiaInfr INXX 12.40 8.62 10.56 0.01 ... DirexnHmbldrBear3X CLAW 77.50 26.35 30.85 -12.26 -28.4 FidelityLowVol FDLO 26.36 24.30 25.85 0.75 3.0 FT SC GrwthAlpha FYC 36.11 25.81 34.61 4.11 13.5 GuggenheimBS2017HY BSJH 26.02 24.25 25.82 0.86 3.4
ColumbiaIndiaSC SCIN 17.17 11.39 14.09 -1.60 -10.2 DirexnHmbldrBull3X NAIL 34.49 14.19 25.38 -3.54 -12.2 FidelityMSCICnDisc FDIS 33.40 26.34 32.17 1.49 4.8 FTSmallCapValue FYT 36.08 22.33 34.83 7.74 28.6 GuggnBulletShr2018 BSCI 21.39 20.89 21.18 0.16 0.8
ColumbiaInterMunBd GMMB 55.22 51.67 52.04 -1.47 -2.7 DrxIndBull 3x INDL 64.64 32.48 44.93 -8.95 -16.6 FidelityMSCICnStpl FSTA 33.63 28.25 31.20 0.92 3.1 FT SKoreaAlpha FKO 26.59 21.00 21.84 -0.88 -3.9 GuggenheimBS2018HY BSJI 25.40 22.72 25.18 1.52 6.4
ColumbiaSustGlb ESGW 27.61 24.09 26.85 2.43 10.0 DirexionJpnBull3x JPNL 49.42 26.21 42.72 -2.75 -6.0 FidelityMSCIEn FENY 22.12 14.14 21.18 4.09 23.9 FstTrS&P REIT FRI 25.87 19.69 23.06 0.98 4.4 GuggenBullet2019Cp BSCJ 21.69 20.76 21.14 0.28 1.3
ColumbiaSustIntl ESGN 26.14 24.16 25.65 1.49 6.2 DirexionJrGoldBr3x JDST2085.00 18.21 35.09-1451.91 -97.6 FidelityMSCIFinls FNCL 35.32 23.44 34.58 6.28 22.2 FT StratIncm FDIV 52.53 42.39 50.03 3.54 7.6 GuggenheimBS2019HY BSJJ 24.37 21.65 24.14 1.42 6.2
ColumbiaSustUSEqu ESGS 28.56 23.45 27.55 3.04 12.4 DirexionJrGoldBl3X JNUG 33.29 2.05 5.58 2.48 79.7 FidelityMSCIHlthCr FHLC 36.05 29.35 32.89 -1.64 -4.7 FT SwitzAlpha FSZ 41.79 34.89 40.81 0.70 1.7 GuggenBullet2020Cp BSCK 21.79 20.83 21.20 0.31 1.5
CnsmrDiscSelSector XLY 84.68 67.59 81.40 3.24 4.1 DrxDlLtAmBull 3x LBJ 121.58 28.84 78.11 30.11 62.7 FidelityMSCIIndls FIDU 33.44 23.77 32.22 5.01 18.4 FTTacticalHiYd HYLS 48.95 45.18 48.23 1.26 2.7 GuggenheimBS2020HY BSJK 24.45 21.21 24.27 1.75 7.8
CnsStapleSelSector XLP 56.02 47.38 51.71 1.22 2.4 DrxMidCapBear 3x MIDZ 67.18 20.70 22.02 -23.07 -51.2 FidelityMSCIIT FTEC 37.81 28.17 36.91 4.07 12.4 FT TaiwanAlpha FTW 33.63 24.92 30.65 2.24 7.9 GuggenheimBull2021 BSCL 22.64 20.38 20.99 0.47 2.3
CreditSuisseFILCGr FLGE 147.61 94.19 138.85 14.39 11.6 DrxMidCapBull 3x MIDU 35.60 13.53 32.48 11.67 56.1 FidelityMSCIMatls FMAT 30.13 20.29 28.84 4.56 18.8 FT TechAlphaDEX FXL 38.97 27.27 37.90 4.66 14.0 GuggenheimBS2021HY BSJL 25.00 21.78 24.71 1.87 8.2
CreditSuisseS&PMLP MLPO 16.83 11.45 16.07 -1.85 -10.3 DirexionNatGasBr3x GASX 635.80 17.73 22.97 -191.21 -89.3 FidelityRealEst FREL 25.98 19.85 23.45 0.82 3.6 FT TotalUSMkt TUSA 28.62 21.03 27.80 3.25 13.2 GuggenheimBull2022 BSCM 21.78 20.10 20.92 0.64 3.1
CSXLinksComm CSCR 14.06 12.38 13.49 0.69 5.4 DXNDlyNatGas3XBl GASL 67.30 14.30 44.51 -16.89 -27.5 FidelityMSCITelSvs FCOM 32.88 24.11 32.10 5.38 20.1 FirstTrUSEquityOpp FPX 54.83 42.23 54.13 3.00 5.9 GuggenheimBS2022HY BSJM 25.21 21.56 25.00 2.43 10.8
CSX-LinksGold GLDI 11.09 8.78 8.94 -1.32 -12.9 DirexnPharmBear2X PILS 54.72 36.07 50.14 12.01 31.5 FidelityMSCIUtils FUTY 34.34 27.14 31.60 3.71 13.3 FT UK Alpha FKU 40.35 29.70 32.71 -7.43 -18.5 GuggenheimBull2023 BSCN 21.56 19.86 20.47 0.54 2.7
CSX-LinksL/SEquity CSLS 27.84 25.14 26.90 -0.70 -2.5 DirexnPharmBull2X PILL 34.61 20.04 21.87 -14.01 -39.0 FidelityMomFactor FDMO 25.99 24.26 25.54 0.36 1.4 FstTrUtilAlpDX FXU 27.70 20.92 26.73 4.34 19.4 GuggenheimBull2024 BSCO 21.72 19.66 20.43 0.66 3.3
CSX2xAlerianMLPETN AMJL 28.85 22.74 26.67 2.51 10.4 DrxDayRE Bear 3x DRV 26.60 10.45 12.63 -6.91 -35.4 FdltyNasCompFd ONEQ 216.84 165.63 211.62 14.83 7.5 FstTrValDivFd FVD 28.56 21.89 28.03 4.15 17.4 GuggenheimBS2025 BSCP 22.15 19.66 20.16 0.52 2.6
CSXLinksMthPay2xLv REML 28.07 24.01 26.80 1.84 7.4 DrxDayRE Bull 3x DRN 29.68 12.98 21.43 2.54 13.5 FidelityQualFactor FQAL 26.81 24.59 26.27 0.97 3.8 FstTrVal100Fd FVL 22.39 16.70 21.62 1.82 9.2 GuggenheimBS2024HY BSJO 25.60 24.18 25.10 0.17 0.7
CSXLinksMultiAsst MLTI 28.21 23.17 27.79 2.32 9.1 DirexRgBanksBear3X WDRW 63.35 9.23 9.90 -26.04 -72.4 FidelityTotalBdETF FBND 51.26 47.43 49.80 1.80 3.7 FirstTrustWaterETF FIW 41.60 26.47 39.56 9.46 31.4 GuggenheimBull2026 BSCQ 20.24 18.85 19.15 -0.93 -4.6
CSX SilverETN SLVO 10.91 8.07 8.19 -1.15 -12.3 DirexRgBanksBull3X DPST 72.00 16.95 68.00 35.20 107.3 FidelityValFactor FVAL 28.12 24.89 27.30 2.04 8.1 FlexSharesSelBdFd BNDC 25.03 24.70 24.70 -0.30 -1.2 GuggenheimBS2023HY BSJN 26.72 23.51 26.37 2.22 9.2
n CSXLinksWTICrude OIIL 36.02 22.87 34.19 10.63 45.1 DXNDlyRetail3xBl RETL 49.91 22.94 36.52 -1.12 -3.0 FinSelSectorSPDR XLF 23.87 15.86 23.25 3.90 20.2 FlexShCredScoreUS SKOR 52.23 49.57 49.97 -0.03 -0.1 GugCnEngy ENY 9.47 5.30 9.10 2.33 34.5
CurShsAusDlr FXA 78.30 68.33 72.18 -0.79 -1.1 DXNDLYRSSBEA3X RUSS 65.99 5.95 6.22 -31.30 -83.4 FTAltAbsoluteRet FAAR 32.00 28.70 28.74 -1.13 -3.8 FlexCredScoreUSLg LKOR 57.80 48.16 50.04 0.55 1.1 GuggCNAllCp YAO 27.70 19.50 24.30 -0.65 -2.6
CurShsBritPnd FXB 145.60 118.01 120.26 -24.06 -16.7 DirexionDailyRusBl RUSL 108.64 22.44 101.00 56.32 126.1 FTAsiaPacXJapan FPA 30.60 21.65 27.18 -0.27 -1.0 FlexSharesCurrHdDM TLDH 25.85 20.30 25.39 1.55 6.5 GugChRE TAO 23.59 15.93 19.55 -0.25 -1.3
CurShsCanDlr FXC 79.26 67.71 73.57 1.90 2.7 DirexionSP500Bear SPXS 23.65 10.33 10.80 -6.12 -36.2 FTAUAlphaDEX FAUS 32.63 24.10 28.16 0.04 0.1 FlexSharesCurrHdg TLEH 27.56 20.35 25.24 1.57 6.6 GugChSmCp HAO 25.58 18.97 22.29 -1.89 -7.8
ChineseRenminbi FXCH 77.17 70.21 71.31 -5.16 -6.7 DirexionS&P500Bull SPXL 113.01 56.86 107.75 24.87 30.0 FirstTrustBICK BICK 23.99 16.56 21.72 2.72 14.3 FlexDiscipDur MBSD 26.39 23.90 24.14 -0.59 -2.4 GugChinaTech CQQQ 43.39 28.47 35.27 -0.74 -2.1
CurrencyShrTr FXE 112.90 100.69 102.26 -4.14 -3.9 DirexS&P500Bull2X SPUU 41.37 25.01 37.15 4.08 12.3 FT BrazilAlpha FBZ 15.53 7.49 13.67 4.81 54.3 FlexGlbQualRealEst GQRE 63.88 51.12 56.37 -0.48 -0.8 GuggenheimCredit GGM 22.99 16.86 22.34 2.85 14.6
CurrShrsJpnYen FXY 96.75 79.59 82.52 1.89 2.3 DirexionS&PBioBr1X LABS 61.31 35.58 38.36 -1.82 -4.5 S&P 500 Tail Hedge VIXH 25.32 21.75 23.74 -0.50 -2.1 FlexGlbUpstmNatRsc GUNR 29.91 18.69 28.66 6.41 28.8 GuggDefEqty DEF 40.29 31.86 38.90 4.07 11.7
CurrencySharesSGD FXSG 74.00 66.86 67.98 -1.15 -1.7 DirexionS&PBiotech LABD 103.62 13.35 18.95 -12.14 -39.0 FTCEFIncomeOpp FCEF 22.98 18.95 20.03 -0.07 -0.4 FlexShiBoxx5YTIPS TDTF 25.95 24.39 25.02 0.70 2.9 GuggenheimDJIADiv DJD 29.67 22.83 28.94 3.24 12.6
CurShsSwedKr FXS 122.77 102.80 106.34 -10.12 -8.7 DirexnS&PBiotechBl LABU 80.72 19.00 31.31 -53.09 -62.9 FT CanadaAlpha FCAN 24.68 17.36 23.27 1.76 8.2 FlexiBx3YDurTIPS TDTT 25.00 23.43 24.70 0.52 2.2 GuggenheimEnhSht GSY 50.23 49.70 50.12 0.26 0.5
CurShsSwissFr FXF 101.31 92.39 93.73 -2.64 -2.7 n DirexionS&P500Br1X SPDN 21.10 18.27 18.55 -1.38 -6.9 FT CapStrength FTCS 41.59 34.43 40.81 2.61 6.8 FlexSharesIntlDiv IQDE 23.42 18.95 21.80 0.71 3.4 GugFrMkts FRN 12.09 9.08 11.56 0.86 8.0
DBAgricDoubleLgETN DAG 4.98 2.91 3.48 0.21 6.4 DirexionS&P500Bull LLSP 29.12 22.64 28.76 2.64 10.1 FirstTrChina FCA 21.38 16.17 19.02 -1.49 -7.3 FlexSharesIntl IQDY 24.39 19.24 23.92 1.47 6.5 GuggenheimS&P500 RCD 94.21 74.21 88.32 3.63 4.3
DBAgricDoubleShrt AGA 36.00 19.95 25.00 -5.14 -17.1 DirexnS&POil&GasBr DRIP 241.16 10.28 13.04 -91.42 -87.5 FT CloudComp SKYY 35.68 24.50 34.48 4.44 14.8 FlexSharesIntlQual IQDF 23.34 18.86 22.52 1.00 4.6 GuggenheimS&P500 RHS 130.44 107.92 119.42 3.40 2.9
DBAgricLongETN AGF 13.98 10.47 11.70 0.70 6.4 DirexionS&POil&Gas GUSH 134.00 24.30 101.52 35.22 53.1 FstTrCDAlpDx FXD 37.74 29.58 35.50 1.40 4.1 FlexMDevexUSFac TLTD 57.57 47.55 56.41 1.23 2.2 GuggenheimSP500EqW RSP 88.63 66.94 86.64 10.00 13.0
DBAgricShrtETN ADZ 35.06 27.97 31.24 -4.74 -13.2 DrxSmcdBear 3x SOXS 64.16 9.52 10.78 -29.39 -73.2 FstTrCStAlpDx FXG 49.33 40.62 45.75 1.30 2.9 FlexSharesEmMktsFa TLTE 49.26 35.57 45.97 4.25 10.2 GuggenheimS&P500Eq RYE 68.00 36.48 64.01 16.92 35.9
DBBaseMtlsDoubleLg BDD 8.25 3.54 6.39 2.29 55.9 DrxSmcdBull 3x SOXL 64.92 14.83 57.10 30.33 113.3 FTDevelopedMkts FDT 49.88 40.46 47.19 0.55 1.2 FlexMrnUSMktFtrTlt TILT 99.45 72.75 96.14 12.41 14.8 Guggenheim S&P 500 RYF 37.69 24.95 36.83 6.67 22.1
DBBaseMtlsDblShr BOM 28.50 7.96 13.90 -11.50 -45.3 DXN DLY 7-10YR1XBR TYNS 29.46 27.19 29.05 -0.68 -2.3 FT DevMktsXUS FDTS 35.32 27.94 33.40 0.24 0.7 FlexQltyDefensive QDEF 39.74 31.27 38.78 4.16 12.0 Continued on Page R10

Net Pct Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg Stock Sym PE Hi Lo Last Chg Chg
Stock Sym PE Hi Lo Last Chg Chg ScanSource SCSC 17 43.49 27.46 40.35 8.13 25.2 Stericycle SRCL 28 128.94 71.52 77.04 -43.56 -36.1 TradeDesk TTD ... 33.40 22.00 27.67 -2.43 -8.1 ViaSat VSAT cc 82.19 56.02 66.22 5.21 8.5
SchnitzerSteel SCHN dd 30.60 11.70 25.70 11.33 78.8 SterlingCnstr STRL dd 9.38 4.11 8.46 2.38 39.1 TransWorldEnt TWMC 22 4.21 3.10 3.26 -0.32 -8.9 ViaviSolutions VIAV 43 8.76 4.67 8.18 2.09 34.3
QuantennaComms QTNA dd 20.68 13.75 18.13 2.63 17.0 Scholastic SCHL 30 49.38 30.34 47.49 8.93 23.2 StevenMadden SHOO 19 40.55 27.80 35.75 5.53 18.3 TransActTechs TACT 18 9.44 5.89 6.60 -1.99 -23.2 Vicor VICR dd 16.15 7.00 15.10 5.98 65.6
QuickLogic QUIK dd 1.66 0.75 1.39 0.26 23.0 SchulmanA SHLM dd 37.70 19.58 33.45 2.81 9.2 StockYardsBncp SYBT 27 47.50 22.67 46.95 21.76 86.4 Transcat TRNS 18 11.85 8.26 10.80 0.86 8.7 Videocon d2h VDTH dd 10.20 5.16 8.22 -0.66 -7.4
Quidel QDEL dd 23.94 13.21 21.42 0.22 1.0 SciClone SCLN 15 15.03 7.37 10.80 1.60 17.4 StonegateBank SGBK 20 43.50 28.21 41.73 8.87 27.0 TransGlobeEner TGA dd 2.25 1.00 1.69 -0.11 -6.1 ViewRay VRAY dd 8.00 2.64 3.13 -2.37 -43.1
QuinStreet QNST dd 4.35 2.61 3.76 -0.53 -12.4 ScientificGames SGMS dd 16.10 4.56 14.00 5.03 56.1 Stratasys SSYS dd 30.46 14.48 16.54 -6.94 -29.6 TravelCenters TA cc 9.58 5.65 7.10 -2.30 -24.5 VikingTherap VKTX dd 4.24 0.90 1.19 -2.22 -65.1
Qumu QUMU dd 5.50 2.10 2.38 -0.33 -12.2 ScrippsNetworks SNI 12 73.71 50.81 71.37 16.16 29.3 Strattec STRT 20 60.38 31.05 40.30 -16.19 -28.7 Travelzoo TZOO 22 13.27 6.63 9.40 1.03 12.3 VillageSuper A VLGEA 20 36.42 23.29 30.90 4.55 17.3
QunarCaymanIsl QUNR dd 50.00 25.75 30.13 -22.61 -42.9 SeaChange SEAC dd 6.76 2.05 2.30 -4.44 -65.9 StratusProp STRS dd 36.05 15.75 32.75 12.34 60.5 Trevena TRVN dd 10.51 3.76 5.88 -4.62 -44.0 VimpelCom VIP 9 4.51 2.71 3.85 0.57 17.4
Quotient QTNT dd 16.00 3.75 4.84 -11.16 -69.8 SeacoastBkgFL SBCF 33 22.91 13.40 22.06 7.08 47.3 StrayerEd STRA 24 83.92 42.39 80.63 20.51 34.1 TriCoBancshares TCBK 18 34.59 23.47 34.18 6.74 24.6 ViperEnergyPtrs VNOM dd 20.25 12.69 16.00 2.04 14.6
Seagate STX 30 41.45 18.42 38.17 1.51 4.1 StrongbridgeBio SBBP dd 7.99 2.05 2.40 -5.20 TriMas TRS dd 24.10 14.76 23.50 4.85 VircoMfg VIRC 3 4.94 2.86 4.30 0.97 29.1
R SearsCanada SRSC dd 5.20 1.55 1.70 -3.41 -66.7 StudentTransprt STB cc 6.08 3.02 5.59 1.88
-68.4
50.7 Trimble TRMB 66 30.84 18.36 30.15 8.70
26.0
40.6 VirtuFinancial VIRT 18 23.97 12.35 15.95 -6.69 -29.5
SearsHoldings SHLD dd 20.48 8.00 9.29 -11.27 -54.8 SucampoPharm SCMP 45 17.55 9.59 13.55 -3.74 -21.6 TrinityBiotech TRIB 78 13.68 5.76 6.92 -4.84 -41.2 VirtusInvtPtrs VRTS 23 128.10 66.12 118.05 0.59 0.5
RBC Bearings ROLL 30 95.02 54.38 92.81 28.22 43.7 SearsHoldingsWt SHLDW ... 11.25 0.51 3.55 -7.44 -67.7 SummitStateBk SSBI 14 15.15 13.07 15.00 1.24 9.0 TripAdvisor TRIP 58 83.97 45.63 46.37 -38.88 -45.6 Virtusa VRTU 36 46.32 18.03 25.12 -16.22 -39.2
RCI Hospitality RICK 15 17.99 7.50 17.10 7.11 71.2 SeaSpine SPNE dd 17.28 6.40 7.90 -9.28 -54.0 SummitTherap SMMT dd 19.75 4.26 8.56 -2.94 -25.6 TriStateCapital TSC 23 22.60 10.77 22.10 8.11 58.0 VisionChina VISN ... 11.29 3.95 4.12 -5.58 -57.5
RCM Tech RCMT 16 7.23 4.52 6.36 0.86 15.6 SeattleGenetics SGEN dd 75.36 26.02 52.77 7.89 17.6 SunBancorpNJ SNBC 70 26.80 19.52 26.00 5.36 26.0 TriumphBancorp TBK 26 27.50 12.63 26.15 9.65 58.5 VitalTherapies VTL dd 11.34 3.85 4.35 -7.17 -62.2
REGENXBIO RGNX dd 24.55 7.07 18.55 1.95 11.7 SecureWorks SCWX dd 16.23 10.18 10.59 -3.41 -24.4 SunHydraulics SNHY 42 42.00 24.00 39.97 8.24 26.0 trivago TRVG ... 12.61 11.10 11.75 -0.10 -0.8 Vivus VVUS dd 1.85 0.92 1.15 0.13 12.7
RF Industries RFIL dd 4.35 1.40 1.75 -2.65 -60.2 SecurityNatFin SNFCA 7 7.50 4.25 6.50 0.26 4.2 n SundanceEnergy SNDE dd 17.60 9.75 15.92 0.49 3.2 tronc TRNC dd 17.93 5.45 13.87 4.65 50.4 Vodafone VOD dd 34.70 24.17 24.43 -7.83 -24.3
RGC Resources RGCO 21 26.00 20.66 24.98 3.67 17.2 SelectBancorp SLCT 17 10.86 7.58 9.85 1.76 21.8 SunOpta STKL dd 7.70 3.16 7.05 0.21 3.1 TrueCar TRUE dd 13.29 4.42 12.50 2.96 31.0 VoyagerTherap VYGR dd 21.92 8.12 12.74 -9.16 -41.8
RPX RPXC 26 11.93 8.60 10.80 -0.20 -1.8 SelectComfort SCSS 51 28.34 14.28 22.62 1.21 5.7 SunPower SPWR dd 30.58 6.00 6.61 -23.40 -78.0 Trupanion TRUP dd 17.68 7.61 15.52 5.76 59.0 vTvTherap VTVT dd 7.68 4.65 4.83 -1.98 -29.1
RTI Surgical RTIX dd 4.65 2.50 3.25 -0.72 -18.1 SelectIncomeREIT SIR 22 27.97 17.07 25.20 5.38 27.1 SunRun RUN 12 11.49 4.15 5.31 -6.46 -54.9 TrustcoBank TRST 20 8.85 5.17 8.75 2.61 42.5
RaPharm
Radisys
RARX
RSYS
... 16.56 12.05 15.19 2.19
dd 5.81 2.25 4.43 1.66
16.8
59.9
SelectaBiosci SELB
SelectiveIns SIGI
... 28.00 10.26 17.15
15 44.00 29.27 43.05
3.15
9.47
22.5 SuperMicroComp SMCI 20 34.69 18.60 28.05 3.54 14.4 Trustmark TRMK 22 36.79 19.75 35.65 12.61 54.7 W
28.2 SuperiorUniform SGC 22 21.02 13.71 19.62 2.64 15.5 TuesdayMorning TUES cc 9.23 4.40 5.40 -1.10 -16.9
RadiusHealth RDUS dd 60.48 24.75 38.03 -23.51 -38.2 Semtech SMTC 43 33.25 15.70 31.55 12.63 66.8 SupernusPharms SUPN 53 27.10 9.51 25.25 11.81 87.9 Tuniu TOUR dd 16.22 7.62 8.75 -7.23 -45.2 WAVE LifeSci WVE dd 40.15 8.95 26.15 10.20 63.9
RadNet RDNT 65 7.98 4.66 6.45 0.27 4.4 SenecaFoods A SENEA 8 42.65 26.90 40.05 11.07 38.2 SurgeryPartners SGRY 83 20.93 11.76 15.85 -4.64 -22.6 TurtleBeach HEAR dd 2.07 0.83 1.31 -0.70 -34.8 WD-40 WDFC 32 125.00 94.00 116.90 18.25 18.5
Radware RDWR dd 15.20 9.98 14.58 -0.76 -5.0 SenecaFoods B SENEB 8 46.00 32.00 42.00 10.00 31.2 SurgicalCareAff SCAI 84 52.79 37.07 46.27 6.46 16.2 21stCenturyFoxA FOXA 18 31.25 22.66 28.04 0.88 3.2 WPP WPPGY 23 121.55 95.67 110.66 -4.08 -3.6
Rambus RMBS 69 14.50 10.66 13.77 2.18 18.8 SeniorHousing SNH 43 23.85 13.53 18.93 4.09 27.6 Surmodics SRDX 34 30.75 17.45 25.40 5.13 25.3 21stCenturyFoxB FOX 18 31.16 22.65 27.25 0.02 0.1 WSFS Financial WSFS 24 47.64 26.40 46.35 13.99 43.2
RandgoldRscs GOLD 36 126.55 59.96 76.34 14.41 23.3 Senomyx SNMX dd 4.85 0.78 0.96 -2.81 -74.5 SussexBancorp SBBX 20 21.95 11.43 20.90 7.81 59.7 21 Vianet VNET dd 21.12 6.77 7.01 -14.13 -66.8 WVS Financial WVFC 20 15.40 10.73 14.72 2.42 19.7
n RandolphBancorp RNDB ... 16.50 12.06 16.12 3.93 32.2 SeresTherap MCRB dd 35.98 8.05 9.90 -25.19 -71.8 SykesEnterprises SYKE 19 31.37 25.77 28.86 -1.92 -6.2 TwinDisc TWIN dd 15.52 8.19 14.60 4.08 38.8 WalgreensBoots WBA 22 102.82 71.50 82.76 -2.40 -2.8
Rapid7 RPD dd 19.29 9.05 12.17 -2.96 -19.6 ServiceSource SREV dd 6.25 3.35 5.68 1.07 23.2 Symantec SYMC 7 25.72 16.14 23.89 2.89 13.8 TwoRiverBancorp TRCB 16 15.73 8.75 14.92 4.97 49.9 WashingtonFederal WAFD 19 35.95 19.11 34.35 10.52 44.1
RavenIndustries RAVN 97 26.90 12.88 25.20 9.60 61.5 ServisFirstBcshs SFBS 26 38.65 17.06 37.44 13.68 57.5 Synacor SYNC dd 3.98 1.33 3.10 1.35 77.1 2U TWOU dd 38.91 14.94 30.15 2.17 7.8 WashFed Wt WAFDW ... 19.80 4.19 17.22 10.32 149.6
RealIndustry RELY dd 9.63 5.30 6.10 -1.93 -24.0 ShenandoahTel SHEN cc 42.66 19.18 27.30 5.78 26.8 Synalloy SYNL dd 11.70 6.42 10.95 4.07 59.2 WashTrBcp WASH 21 57.90 34.59 56.05 16.53 41.8
RealNetworks RNWK
RealPage RP
dd 5.14 3.04 4.86 0.61
cc 30.85 16.06 30.00 7.55
14.4
33.6
ShilohIndustries SHLO
Shire SHPG
dd 9.78 3.06 6.91
cc 209.22 147.60 170.38
1.67
-34.62
31.9
-16.9
Synaptics SYNA
SynchronossTech SNCR
39 90.91
cc 49.94
47.09
20.33
53.58 -26.76
38.30 3.07
-33.3
8.7
U WaterstoneFinl WSBF
WayneSavings WAYN
23 19.30
18 16.71
13.30 18.40
11.90 16.50
4.30
3.29
30.5
24.9
ReataPharm RETA ... 41.60 11.03 21.83 8.76 67.0 ShoeCarnival SCVL 18 31.79 20.98 26.98 3.78 16.3 n SyndaxPharm SNDX WaysideTech WSTG 15 19.50 15.47 18.70 0.36 2.0
RedRobin RRGB 24 68.97 40.85 56.40 -5.34 -8.6 ... 18.03 6.69 7.17 -4.84 -40.3 UMB Fin UMBF 26 81.11 39.55 77.12 30.57 65.7
ShoreBancshares SHBI 21 16.90 10.23 15.25 4.37 40.2 SynergyPharm SGYP dd 6.29 2.50 6.09 0.42 7.4 USA Tech USAT dd 5.81 2.69 4.30 1.22 39.6 Web.com WEB 13 21.16 12.90 21.15 1.14 5.7
RedRockResorts RRR 8 23.97 18.25 23.19 4.49 24.0 ShoreTel SHOR dd 9.05 5.83 7.15 -1.70 -19.2 SyneronMedical ELOS WebMD WBMD 27 67.55 45.46 49.57 1.27 2.6
RegenPharm REGN 54 532.91 325.35 367.09-175.78 -32.4 93 9.10 6.11 8.40 0.69 8.9 USA Truck USAK dd 21.46 7.65 8.71 -8.74 -50.1
Shutterfly SFLY 36 54.60 35.91 50.18 5.62 12.6 Synopsys SNPS 34 62.00 39.26 58.86 13.25 29.1 USAutoPartsNtwk PRTS cc 4.49 2.35 3.52 0.57 19.3 Weibo WB cc 55.93 12.09 40.60 21.10 108.2
RegulusTherap RGLS dd 8.90 2.12 2.25 -6.47 -74.2 Sientra SIEN dd 10.45 5.60 8.52 2.60 43.9 Wendy's WEN 19 14.07 8.89 13.52 2.75 25.5
Reis REIS 40 26.59 18.16 22.25 -1.48 -6.2 Syntel SYNT dd 50.92 18.00 19.79 -25.46 -56.3 US Ecology ECOL 31 50.25 29.89 49.15 12.71 34.9
SierraBancorp BSRR 21 27.04 15.61 26.59 8.94 50.7 SynthesisEnSys SYMX dd 1.45 0.48 1.00 0.04 4.3 US Lime&Min USLM 26 78.15 48.41 75.75 20.79 37.8 WernerEnterprises WERN 21 29.05 20.91 26.95 3.56 15.2
Renasant RNST 20 44.65 29.49 42.22 7.81 22.7 SierraWireless SWIR dd 20.28 9.69 15.70 -0.04 -0.3 WesBanco WSBC 19 43.77 26.93 43.06 13.04 43.4
RenewableEnergy REGI dd 10.60 6.01 9.70 0.41 4.4 SynutraIntl SYUT 20 5.56 3.25 5.35 0.64 13.6 UbiquitiNetworks UBNT 21 59.43 25.75 57.80 26.11 82.4
SifyTech SIFY 16 1.45 0.71 0.73 -0.26 -25.9 SyprisSolutions SYPR 4 2.25 0.64 0.88 -0.21 -19.3 UltaSalon ULTA 43 278.63 146.77 254.94 69.94 37.8 WestBancorp WTBA 17 25.05 16.04 24.70 4.95 25.1
Rent-A-Center RCII dd 16.37 8.00 11.25 -3.72 -24.8 SigmaDesigns SIGM dd 8.60 5.20 6.00 -0.32 -5.1 West WSTC 11 25.85 17.26 24.76 3.19 14.8
Repligen RGEN cc 34.06 20.07 30.82 2.53 8.9 SyrosPharm SYRS ... 21.50 8.16 12.16 -5.99 -33.0 UltimateSoftware ULTI cc 224.07 148.26 182.35 -13.16 -6.7
SignatureBank SBNY 21 157.46 113.53 150.20 -3.17 -2.1 UltraClean UCTT dd 10.65 4.50 9.70 4.58 89.5 WestMarine WMAR 55 11.42 7.70 10.47 1.98 23.3
RepublicBcpKYA RBCAA 19 40.74 23.00 39.54 13.13 49.7 SignatureBankWt SBNYW WestamericaBncp WABC
RepublicFirstBncp FRBK 76 9.15 3.70 8.35 4.02 92.8 SilganHoldings SLGN
... 121.45 81.96 120.00
20 55.75 47.16 51.18
-6.67
-2.54
-5.3
-4.7 T UltragenyxPharm RARE
Ultralife ULBI
dd 110.06 46.52 70.31
33 6.61 3.73 4.95
-41.87
-1.51
-37.3
-23.4 WesternDigital WDC
27 65.34
dd 72.01
40.52 62.93
34.99 67.95
16.18
7.90
34.6
13.2
ResourcesConnect RECN 25 19.75 12.30 19.25 2.91 17.8 Silicom SILC 23 44.00 25.48 41.09 10.79 35.6 WestNewEngBncp WNEB 31 9.75 7.35 9.35 0.95 11.3
RetailOppor ROIC 72 23.05 16.90 21.13 3.23 18.0 SiliconLab SLAB 59 68.95 36.56 65.00 16.46 33.9 TASER Intl TASR 84 30.15 13.56 24.24 6.95 40.2 Ultratech UTEK dd 26.40 17.31 23.98 4.16 21.0
WestmorelandCoal WLB dd 19.92 3.44 17.67 11.79 200.5
RetailMeNot SALE 58 12.93 5.52 9.30 -0.62 -6.2 SiliconMotion SIMO 9 56.25 27.35 42.48 11.12 35.5 TD Ameritrade AMTD 28 44.79 24.88 43.60 8.89 25.6 Umpqua UMPQ 18 19.30 13.46 18.78 2.88 18.1
WestportFuelSys WPRT dd 3.09 1.12 1.13 -0.88 -43.8
Retrophin RTRX dd 24.57 11.60 18.93 -0.36 -1.9 Siliconware SPIL 27 8.36 6.60 7.30 -0.45 -5.8 TESARO TSRO dd 148.74 29.51 134.48 82.16 157.0 UnicoAmerican UNAM dd 12.39 8.64 10.75 0.76 7.6 WholeFoods WFM 20 35.58 27.67 30.76 -2.74 -8.2
RevanceTherap RVNC dd 34.55 12.35 20.70 -13.46 -39.4 SilverStandard SSRI dd 15.84 3.66 8.92 3.74 72.2 TFS Fin TFSL 68 19.89 15.58 19.04 0.21 1.1 Unilife UNIS dd 12.90 1.58 2.30 -2.65 -53.5 Wi-Lan WILN 41 3.04 0.93 1.63 0.31 23.5
ReWalkRobotics RWLK dd 15.81 2.55 2.80 -11.67 -80.6 SilvercrestAsset SAMG 23 13.85 9.84 13.15 1.26 10.6 T-MobileUS TMUS 37 59.19 33.23 57.51 18.39 47.0 UnionBankshares UBSH 21 36.69 20.57 35.74 10.50 41.6 Willdan WLDN 27 26.48 7.10 22.59 14.21 169.6
RichardsonElec RELL dd 7.24 4.71 6.30 0.63 11.1 SimmonsFirstNat SFNC 20 67.00 38.30 62.15 10.79 21.0 TPIComposites TPIC ... 23.30 11.31 16.04 2.48 18.3 UnionBankshares UNB 25 50.15 26.50 45.45 17.54 62.8 WillisLease WLFC 13 27.51 17.43 25.58 5.48 27.3
RigelPharm RIGL dd 4.38 1.88 2.38 -0.65 -21.5 SinclairBroadcast SBGI 17 34.75 24.15 33.35 0.81 2.5 TraconPharm TCON dd 9.24 4.00 4.90 -4.34 -47.0 uniQure QURE dd 19.40 5.45 5.60 -10.94 -66.1 WillisTwrsWatson WLTW 73 133.40 104.11 122.28 -6.38 -5.0
RightsideGroup NAME dd 12.85 7.16 8.27 -0.03 -0.4 SinovacBiotech SVA dd 7.16 4.38 5.90 0.18 3.1 TRowePrice TROW 17 79.00 62.97 75.26 3.77 5.3 UnitedBancshares UBOH 13 22.60 16.00 21.41 3.17 17.4 Windstream WIN dd 10.46 4.75 7.33 0.89 13.8
RigNet RNET dd 23.35 10.32 23.15 2.46 11.9 SiriusXM SIRI 34 4.65 3.29 4.45 0.38 9.3 TTM Tech TTMI 34 15.00 4.67 13.63 7.12 109.4 UnitedBkshrsWV UBSI 24 49.35 32.22 46.25 9.26 25.0 Wingstop WING 58 33.42 20.73 29.59 6.78 29.7
RiverviewBncp RVSB 24 8.16 4.15 7.00 2.31 49.3 SkyPeopleFruit SPU 66 20.95 1.62 6.60 1.16 21.3 T2Biosystems TTOO dd 11.30 4.89 5.26 -5.68 -51.9 UtdCmntyBcp UCBA 19 17.00 12.95 16.70 1.71 11.4 Winmark WINA 25 133.07 88.00 126.15 33.14 35.6
RocketFuel FUEL dd 4.10 1.70 1.71 -1.78 -51.0 SkyWest SKYW 13 39.60 13.23 36.45 17.43 91.6 TabulaRasaHlth TRHC ... 16.17 10.39 14.98 0.10 0.7 UtdCmtyBks UCBI 23 30.22 15.74 29.62 10.13 52.0 WintrustFin WTFC 22 73.94 37.96 72.57 24.05 49.6
RockwellMedical RMTI dd 10.58 3.55 6.55 -3.69 -36.0 Skyworks SWKS 14 82.28 54.50 74.66 -2.17 -2.8 TactileSystems TCMD dd 22.29 10.00 16.41 5.33 48.1 UtdCmtyFnl UCFC 24 9.50 5.28 8.94 3.04 51.5 WintrustFin Wt WTFCW ... 48.84 16.54 48.51 19.77 68.8
RockyBrands RCKY dd 13.95 9.67 11.55 -0.01 -0.1 n SmartSand SND ... 17.00 10.30 16.55 5.56 50.6 TakeTwoSoftware TTWO dd 51.34 31.36 49.29 14.45 41.5 UnitedFinBncp UBNK 20 18.49 10.28 18.16 5.28 41.0 WisdomTreeInvs WETF 34 15.63 8.00 11.14 -4.54 -29.0
RockyMtnChoc RMCF 13 11.28 9.50 10.19 -0.56 -5.2 SmithWesson SWHC 9 31.19 19.18 21.08 -0.90 -4.1 Talend TLND ... 34.49 21.02 22.20 -3.30 -12.9 UnitedFire UFCS 18 50.75 35.16 49.17 10.86 28.3 Wix.com WIX dd 52.50 14.79 44.55 21.80 95.8
RokaBioscience ROKA dd 16.00 3.66 4.24 -8.06 -65.5 Snyders-Lance LNCE cc 38.99 27.93 38.34 4.04 11.8 TandemDiabetes TNDM dd 11.80 1.60 2.15 -9.66 -81.8 UnitedGuardian UG 32 23.49 13.52 15.50 -3.65 -19.1 Woodward WWD 24 71.46 41.24 69.05 19.39 39.0
RossStores ROST 24 69.81 50.42 65.60 11.79 21.9 SodaStream SODA 27 41.33 11.66 39.47 23.16 142.0 TandyLeather TLF 11 8.25 6.32 8.10 0.76 10.4 UnitedNatFoods UNFI 19 52.18 29.75 47.72 8.36 21.2 WorldAcceptance WRLD 7 68.69 26.87 64.28 27.18 73.3
RoyalBcshsPA A RBPAA 11 4.15 1.85 4.15 2.06 98.6 Sohu.com SOHU dd 55.21 32.60 33.89 -23.30 -40.7 Tangoe TNGO ... 10.39 5.32 7.88 -0.51 -6.1 UnitedSecBcshrs UBFO 18 8.02 4.42 7.75 2.61 50.7 Wowo JMU ... 6.20 2.90 3.76 -1.25 -24.9
RoyalGold RGLD dd 87.74 24.68 63.35 26.88 73.7 SolarEdgeTech SEDG 7 30.50 11.35 12.40 -15.77 -56.0 TarenaIntl TEDU 25 17.75 8.35 14.99 4.55 43.6 UnitedTherap UTHR 10 159.96 97.52 143.43 -13.18 -8.4 WrightMedical Rt WMGIZ ... 1.80 1.01 1.32 0.30 29.7
RushEnt A RUSHA 34 34.11 14.19 31.90 10.01 45.7 Sonic SONC 20 36.34 21.12 26.51 -5.80 -18.0 TatTechnologies TATT 51 9.19 6.35 8.75 1.35 18.2 UnityBancorp UNTY 12 17.10 8.75 15.70 4.36 38.5 WrightMedical WMGI dd 25.50 15.02 22.98 -1.20 -5.0
RushEnt B RUSHB 33 31.56 14.20 30.87 8.97 41.0 SonusNetworks SONS dd 10.00 5.15 6.30 -0.83 -11.6 TechData TECD 14 91.47 57.98 84.68 18.30 27.6 UniversalDisplay OLED 65 74.39 40.44 56.30 1.86 3.4 WynnResorts WYNN 41 109.50 49.95 86.51 17.32 25.0
RuthsHospitality RUTH 20 19.65 13.74 18.30 2.38 14.9 SotherlyHotels SOHO ... 7.11 4.59 6.79 0.63 10.2 TechTarget TTGT 67 9.24 5.98 8.53 0.50 6.2 UnivElectro UEIC 36 80.42 45.20 64.55 13.20 25.7
Ryanair RYAAY 14 89.67 66.09 83.26 -3.20 -3.7 SouthState SSB
SouthernFirstBcsh SFST
21 91.85 59.19 87.40
19 36.85 21.30 36.00
15.45
13.30
21.5
58.6
TeleNav
Teletech
TNAV
TTEC
dd 7.45
29 31.97
4.47 7.05
24.19 30.50
1.36
2.59
23.9
9.3
UniversalForest UFPI
UnivLogistics ULH
21 110.97 59.66 102.18
15 18.31 11.09 16.35
33.81
2.31
49.5
16.5 XYZ
S SoMO Bancorp SMBC 18 37.00 21.30 35.38 11.48 48.0 Teligent TLGT
TerraFormGlobal GLBL
dd 8.88
dd 5.55
4.46 6.61
1.92 3.95
-2.29
-1.64
-25.7
-29.3
UnivStainless USAP
UnivestPA UVSP
dd 15.37 6.10 13.51
31 31.50 18.43 30.90
4.22
10.04
45.4
48.1
XOMA XOMA dd 27.20 4.16 4.22 -22.38 -84.1
SoNtlBcpVA SONA 19 16.78 11.60 16.34 3.28 25.1 XBiotech XBIT dd 25.00 6.36 10.12 -0.75 -6.9
S&T Bancorp STBA 19 39.65 23.06 39.04 8.22 26.7 SouthsideBcshs SBSI 20 38.99 18.61 37.67 14.79 64.7 TerraFormPower TERP ... 14.69 7.23 12.81 0.23 1.8 UplandSoftware UPLD dd 10.60 5.95 8.95 1.90 27.0 XcelBrands XELB cc 7.49 3.80 4.40 -3.10 -41.3
SBA Comm SBAC cc 118.57 82.80 103.26 -1.81 -1.7 SouthwestBncpOK OKSB 35 29.70 14.00 29.00 11.52 65.9 TerraVia TVIA dd 3.15 0.90 1.15 -1.33 -53.6 UrbanOutfitters URBN 15 40.80 20.06 28.48 5.73 25.2 Xcerra XCRA dd 7.99 4.92 7.64 1.59 26.3
SCYNEXIS SCYX dd 6.60 1.74 3.19 -3.02 -48.6 SpanAmMed SPAN 12 19.95 16.92 18.24 -1.41 -7.2 TerritBanc TBNK 19 33.32 24.87 32.84 5.10 18.4 UtahMedProducts UTMD 22 75.00 54.20 72.75 14.21 24.3 Xencor XNCR 27 29.38 9.89 26.32 11.70 80.0
SEI Investments SEIC 25 52.54 32.01 49.36 -3.04 -5.8 SpanishBrdcasting SBSA dd 5.25 2.55 3.10 -0.14 -4.3 Tesco TESO dd 9.77 5.12 8.25 1.01 14.0 UTStarcom UTSI ... 2.49 1.59 2.00 -0.48 -19.4 XenithBkshrs XBKS 4 30.13 15.50 28.20 9.80 53.3
SI Financial SIFI 29 16.23 12.30 15.40 1.75 12.8 SparkEnergy SPKE dd 35.63 17.70 30.30 9.58 46.2 TeslaMotors TSLA dd 269.34 141.05 213.69 -26.32 -11.0 XenonPharms XENE dd 8.75 5.65 7.70 -0.34 -4.2
Sina SINA 21 80.63 37.21 60.79 14.35 30.9 SparkTherap ONCE dd 65.99 21.20 49.90 4.59 10.1 TesscoTech TESS
TSRA
54 20.49 9.75 13.00 -6.47 -33.2 V Xilinx XLNX 27 62.24 40.44 60.37 13.40 28.5
SLM SLM 19 11.65 5.09 11.02 4.50 69.0 SpartanMotors SPAR dd 10.50 2.61 9.25 6.14 197.4 Tessera 25 45.58 26.21 44.20 14.19 47.3 Xunlei XNET dd 7.66 3.73 3.86 -3.70 -48.9
SMTC SMTX 22 1.85 1.14 1.53 -0.02 -1.3 SpartanNash SPTN 25 39.96 17.66 39.54 17.90 82.7 TetraTech TTEK 30 44.30 22.85 43.15 17.13 65.8 VCA WOOF 24 73.69 44.00 68.65 13.65 24.8 YRC Worldwide YRCW 92 16.97 6.25 13.28 -0.90 -6.3
SORL AutoParts SORL 3 5.05 1.39 3.04 0.51 20.2 Spectranetics SPNC dd 25.81 11.09 24.50 9.44 62.7 TetraphasePharm TTPH dd 9.98 3.11 4.03 -6.00 -59.8 VOXX Intl VOXX cc 5.90 2.47 4.70 -0.56 -10.6 YY YY 12 63.96 31.07 39.42 -23.05 -36.9
SPI Energy SPI ... 18.90 1.66 1.89 -12.11 -86.5 SpectrumPharm SPPI dd 7.74 3.21 4.43 -1.60 -26.5 TexasCapBcshs TCBI 28 81.25 29.78 78.40 28.98 58.6 VSE VSEC 15 42.69 26.16 38.84 7.75 24.9 Yahoo YHOO dd 44.92 26.15 38.67 5.41 16.3
SPPlus SP 39 30.30 20.41 28.15 4.25 17.8 Sphere3D ANY dd 2.00 0.18 0.30 -1.22 -80.2 TexasCapWt TCBIW ... 60.00 16.22 60.00 21.39 55.4 VWR VWR 19 31.75 21.56 25.03 -3.28 -11.6 Yandex YNDX 52 23.87 11.00 20.13 4.41 28.1
SPS Commerce SPSC cc 74.85 38.35 69.89 -0.32 -0.5 SpiritAirlines SAVE 14 60.40 35.17 57.86 18.01 45.2 TexasInstruments TXN 23 75.25 46.73 72.97 18.16 33.1 VandaPharm VNDA dd 18.00 6.91 15.95 6.64 71.3 YintechInvt YIN ... 20.95 10.92 16.40 2.90 21.5
SS&C Tech SSNC 67 34.19 23.61 28.60 -5.54 -16.2 Splunk SPLK dd 65.75 29.85 51.15 -7.66 -13.0 TexasRoadhouse TXRH 29 50.51 33.80 48.24 12.47 34.9 VanguardNatRes VNR dd 3.17 0.46 0.67 -2.31 -77.4 YorkWater YORW 40 39.85 23.79 38.20 13.26 53.2
SVB Fin SIVB 24 175.74 77.87 171.66 52.76 44.4 SpokHoldings SPOK 5 21.85 15.49 20.75 2.43 13.3 TheBancorp TBBK dd 8.20 3.88 7.86 1.49 23.4 VaronisSystems VRNS dd 32.05 13.25 26.80 8.00 42.6 ZAGG ZAGG dd 10.83 4.71 7.10 -3.84 -35.1
SabraHealthcare SBRA 26 26.40 14.92 24.42 4.19 20.7 SportsmansWrhs SPWH 13 14.18 7.71 9.39 -3.51 -27.2 The9 NCTY dd 3.28 1.20 1.25 -1.90 -60.3 VascularBiogenics VBLT dd 7.58 2.76 4.85 -0.41 -7.8 ZELTIQAesthetics ZLTQ 59 46.00 18.41 43.52 14.99 52.5
Sabre SABR 20 29.76 22.03 24.95 -3.02 -10.8 SproutsFarmersMkt SFM 21 30.00 18.70 18.92 -7.67 -28.8 TheravanceBio TBPH dd 38.92 12.87 31.88 15.49 94.5 VascularSolutions VASC 80 57.15 24.34 56.10 21.71 63.1 Zafgen ZFGN dd 12.18 2.89 3.18 -3.11 -49.4
SAExploration SAEX 1 271.35 6.02 7.30-266.75 -97.3 StaarSurgical STAA dd 11.50 4.98 10.85 3.71 52.0 TheStreet TST dd 1.55 0.82 0.85 -0.65 -43.3 VeecoInstr VECO dd 30.45 15.26 29.15 8.59 41.8 ZebraTech ZBRA dd 88.00 46.13 85.76 16.11 23.1
SafetyInsurance SAFT 18 75.05 52.23 73.70 17.32 30.7 Stamps.com STMP 45 123.75 68.82 114.65 5.04 4.6 TiGenix TIG dd 16.00 10.77 14.58 2.88 24.6 VeraBradley VRA 14 20.69 11.29 11.72 -4.04 -25.6 Zillow A ZG dd 39.99 16.45 36.45 10.41 40.0
SageTherap SAGE dd 58.23 26.28 51.06 -7.24 -12.4 StanleyFurniture STLY dd 3.65 0.86 0.90 -1.89 -67.7 TileShop TTS 47 21.40 12.40 19.55 3.15 19.2 Veracyte VCYT dd 8.45 4.21 7.74 0.54 7.5 Zillow C Z dd 39.88 15.36 36.47 12.99 55.3
Saia SAIA 23 48.85 18.28 44.15 21.90 98.4 Staples SPLS dd 11.37 7.24 9.05 -0.42 -4.4 TimberlandBncp TSBK 14 21.15 12.14 20.66 8.25 66.5 Verastem VSTM dd 1.93 1.05 1.12 -0.74 -39.8 ZionOil&Gas ZN dd 2.00 1.09 1.37 -0.49 -26.3
SalemMedia SALM 15 8.17 3.60 6.25 1.27 25.5 StarBulkCarriers SBLK dd 6.10 1.57 5.11 2.08 68.9 TitanMachinery TITN dd 15.93 7.87 14.57 3.64 33.3 VerintSystems VRNT dd 41.37 29.76 35.25 -5.31 -13.1 ZionsBancorp ZION 24 44.15 19.65 43.04 15.74 57.7
SandersonFarms SAFM 11 99.40 72.83 94.24 16.72 21.6 Starbucks SBUX 29 61.78 50.84 55.52 -4.51 -7.5 TiVo TIVO 39 23.70 15.06 20.90 4.24 25.5 VeriSign VRSN 23 91.99 70.26 76.07 -11.29 -12.9 ZionsBancorpWt ZIONW ... 12.42 1.27 11.75 8.36 246.6
SandySpringBncp SASR 20 40.86 24.17 39.99 13.03 48.3 StateAutoFin STFC dd 27.42 17.84 26.81 6.22 30.2 TokaiPharm TKAI dd 8.80 0.73 0.98 -7.74 -88.8 VeriskAnalytics VRSK 23 86.00 64.79 81.17 4.29 5.6 ZionsBancorpWt ZIONZ ... 9.75 0.45 8.65 6.44 291.4
Sanfilippo JBSS 25 72.84 40.75 70.39 16.36 30.3 StateNational SNC 12 14.45 9.05 13.86 4.05 41.3 TonixPharm TNXP dd 7.95 0.35 0.47 -7.20 -93.9 Veritex VBTX 25 27.77 12.35 26.71 10.50 64.8 Zix ZIXI 62 5.09 3.23 4.94 -0.14 -2.8
SangamoBioSci SGMO dd 9.22 2.65 3.05 -6.08 -66.6 SteadyMed STDY dd 5.21 2.00 2.60 -0.66 -20.2 TowerSemi TSEM 10 20.04 10.36 19.03 4.97 35.3 Versartis VSAR dd 16.30 6.17 14.90 2.51 20.3 Zogenix ZGNX dd 14.60 7.33 12.15 -2.59 -17.6
Sanmina SANM 15 37.20 16.31 36.65 16.07 78.1 StealthGas GASS dd 5.18 2.39 3.38 -0.05 -1.5 TownSports CLUB 1 3.97 0.92 2.50 1.31 110.1 VertxPharm VRTX dd 124.96 71.46 73.67 -52.16 -41.5 Zumiez ZUMZ 27 26.55 13.50 21.85 6.73 44.5
Sanofi Rt GCVRZ ... 0.45 0.08 0.38 0.27 237.8 SteelDynamics STLD 81 40.17 15.32 35.58 17.71 99.1 TowneBank TOWN 30 34.55 16.50 33.25 12.38 59.3 Viacom A VIA 11 50.81 33.88 38.50 -5.49 -12.5 ZynerbaPharma ZYNE dd 21.56 4.64 15.59 5.52 54.8
SareptaTherap SRPT dd 63.73 8.00 27.43 -11.15 -28.9 SteinMart SMRT 23 9.23 4.92 5.48 -1.25 -18.6 TractorSupply TSCO 24 97.25 61.50 75.81 -9.69 -11.3 Viacom B VIAB 10 47.47 30.11 35.10 -6.06 -14.7 Zynga ZNGA dd 3.08 1.78 2.57 -0.11 -4.1

Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg
Net Pct
Stock Sym Hi Lo Last Chg Chg iShUSRegionalBanks IAT 46.13 28.12 45.38 10.42 29.8 iShrSilverTr SLV 19.71 13.10 15.11 1.92 14.6 PSRussMCPureGrwth PXMG 32.28 23.99 31.03 0.95 3.2 RoyalBkofCdaETN TALL 22.02 21.27 21.65 0.26 1.2
iShU.S.Technology IYW 123.37 92.25 120.25 13.22 12.4 iSh10+YCreditBond CLY 64.42 55.08 58.70 3.03 5.4 PSRussMCPureValue PXMV 32.53 21.79 31.14 6.36 25.7 SPDRBlackstoneSrLn SRLN 47.65 45.31 47.49 1.36 2.9
GuggenheimS&P500 RYH 161.37 130.24 145.92 -7.57 -4.9 iSharesUSTelecomm IYZ 35.56 24.65 34.50 5.71 19.8 iShTreaFRBd TFLO 50.41 48.97 50.15 -0.19 -0.4 PwrShRuss1000EqWt EQAL 27.69 20.39 26.91 3.25 13.7 SPDRBloomBarcAggBd BNDS 59.85 56.48 56.92 -0.13 -0.2
GuggenheimS&P500 RGI 103.20 72.35 99.13 16.17 19.5 iShUSMedDevices IHI 146.91 107.22 133.15 10.67 8.7 iSh1-3YTreasuryBd SHY 85.35 84.23 84.45 0.09 0.1 PSRuss1000LowBeta USLB 27.74 22.19 27.12 2.14 8.6 SPDRBloomBarCvSecs CWB 46.74 38.54 45.65 2.37 5.5
GuggenheimS&P500 RTM 95.45 63.78 91.09 14.66 19.2 iShEdgeMSCIIntlMom IMTM 27.44 22.53 24.81 -0.56 -2.2 iSh7-10YTreasuryBd IEF 113.91 103.43 104.82 -0.77 -0.7 PSRussellTop200EW EQWL 44.22 34.15 43.18 4.27 11.0 SPDRBloomBarEMLoBd EBND 31.51 23.68 26.58 2.00 8.1
GuggenS&P500EWTech RYT 111.15 78.18 108.49 16.22 17.6 iShEdgeMSCIIntQual IQLT 26.36 22.47 24.50 -0.74 -2.9 iSh20+YTreasuryBd TLT 143.62 116.80 119.13 -1.45 -1.2 PSRussTop200PureG PXLG 34.78 28.25 33.59 -0.71 -2.1 SPDRBloomBarcHYBd JNK 36.91 31.27 36.45 2.54 7.5
GuggenheimS&P500 RYU 88.42 69.21 80.78 8.43 11.7 iShEdgeMSCIIntSize ISZE 24.89 23.42 23.43 1.22 5.5 iShCohen&StrsREIT ICF 112.45 87.26 99.64 0.40 0.4 PSRussTop200PureV PXLV 35.42 25.22 34.36 5.70 19.9 SPDRBloomBarInCpBd ITR 35.02 33.42 33.91 0.48 1.4
GuggenheimS&P500Gr RPG 85.68 67.31 83.57 2.87 3.6 iShEdgeMSCIIntVal IVLU 22.88 18.43 22.12 0.08 0.4 iSharesDowJonesUS IYY 114.61 89.80 112.05 10.08 9.9 PSRussell2000EW EQWS 40.50 26.13 39.43 7.54 23.7 SPDRBloomBarcIntTm ITE 62.12 59.24 59.66 -0.53 -0.9
GuggenheimS&P500 RPV 60.00 41.51 57.59 8.39 17.1 iShEdgeMSCIMinVlAs AXJV 51.33 28.29 29.04 -16.87 -36.7 iShChinaLarge-Cap FXI 39.16 28.10 34.71 -0.58 -1.6 PSRuss2000PureGrw PXSG 26.85 18.89 26.00 1.49 6.1 SPDRBloomBarInCpBd IBND 34.03 30.10 30.88 0.08 0.3
GuggenheimS&PM400 RFG 132.15 103.90 128.85 4.16 3.3 iShEdgeMSCIMinEAFE EFAV 69.07 59.22 61.22 -3.65 -5.6 iShRussellMCGrowth IWP 100.03 78.37 97.39 5.47 6.0 PSRuss2000PureVal PXSV 31.42 19.32 30.31 7.36 32.1 SPDRBlmBarIntTrBd BWX 29.34 25.52 25.98 0.16 0.6
Guggenheim S&P400 RFV 65.03 39.08 61.72 14.07 29.5 iShEdgeMSCIMinVlEM EEMV 54.86 43.44 48.91 0.25 0.5 iShUSBrokerDealers IAI 51.22 32.69 49.48 7.96 19.2 PwrShSP500Downside PHDG 25.32 21.43 23.99 -0.69 -2.8 SPDRBlmBarInvGrdFR FLRN 31.03 30.15 30.62 0.20 0.6
GuggenheimS&P Scp RZG 98.70 67.44 96.57 15.71 19.4 iShEdgeMSCIMnVlEur EUMV 24.44 20.51 21.22 -2.34 -9.9 iShUSCreditBdETF CRED 115.00 105.80 109.22 2.51 2.4 PWSH SP500HiBeta SPHB 38.42 22.78 36.59 7.30 24.9 SPDRBlBarIssScCpBd CBND 33.26 30.90 31.56 0.56 1.8
GuggenheimS&P600 RZV 77.26 43.61 73.02 18.20 33.2 iShEdgeMSCIMinVol ACWV 78.23 63.82 72.61 3.34 4.8 iShUSFixedIncmBal FIBR 103.58 96.50 99.10 1.90 2.0 PwrShsS&P500HiDivd SPHD 40.16 30.85 39.18 5.84 17.5 SPDRBloomBarLTCpBd LWC 43.81 37.00 39.87 2.29 6.1
GuggInsdr NFO 50.91 39.22 49.20 2.66 5.7 iShEdgeMSCIMinJapn JPMV 62.56 51.76 56.91 -0.09 -0.2 iShUSTreasuryBdETF GOVT 26.45 24.72 24.93 -0.13 -0.5 PS SP500LoVoltlPrt SPLV 43.29 35.54 41.58 3.01 7.8 SPDRBloomBarcLTTr TLO 82.40 67.56 68.89 -0.99 -1.4
GugIntlMltyAst HGI 15.56 12.12 15.08 0.82 5.8 iShEdgeMSCIMinUSA USMV 47.19 38.64 45.22 3.40 8.1 iShYdOptimizedBd BYLD 25.35 23.85 24.65 0.64 2.7 PSS&PEmgMkLowVol EELV 23.62 18.15 20.90 0.61 3.0 SPDRBloomBarMtgBd MBG 27.36 25.30 26.28 -0.54 -2.0
GuggenheimLCOptDiv OPD 26.39 24.71 26.33 1.22 4.9 n iShMSCIMinVolUSASC SMMV 26.72 23.65 25.97 1.62 6.7 iSh0-5YHYCorpBd SHYG 47.47 42.31 47.34 2.81 6.3 PowerShS&P500xRate XRLV 28.47 22.97 27.92 2.38 9.3 SPDRBloomBarc1-10Y TIPX 20.25 18.99 19.35 0.17 0.9
GuggenheimMSCIEM EWEM 30.04 22.38 27.86 1.97 7.6 iShEdgeMSCIMultif ACWF 24.96 20.22 24.10 0.69 2.9 iSh0-5YInvGrdCpBd SLQD 52.09 49.63 50.20 -0.05 -0.1 PowerShS&P500Mom SPMO 27.42 23.45 27.16 1.36 5.3 SPDRBloomBar1-3MTB BIL 45.74 45.67 45.70 0.02 ...
GuggenhmGlbTimber CUT 25.95 19.32 24.77 1.20 5.1 iShEdgeMSCIMultInt INTF 24.25 20.78 23.23 -0.54 -2.3 JPMorgAlerian AMJ 32.65 20.35 31.61 2.64 9.1 PowerShS&P500Qual SPHQ 26.55 21.05 25.99 2.86 12.4 SPDRBloomBarSTCpBd SCPB 30.84 30.32 30.53 0.13 0.4
GuggenheimMdCpCore CZA 55.88 41.26 54.38 6.47 13.5 iShEdgeMSCIMlIntSC ISCF 26.04 21.47 23.99 -1.01 -4.0 JanusShrtDurIncm VNLA 50.10 49.73 50.02 ... ... PowerShS&P500Value SPVU 30.85 21.83 29.99 4.43 17.3 SPDRBloomBarSTHYBd SJNK 27.85 24.03 27.68 1.99 7.7
GugMultiAstInco CVY 20.52 15.95 20.16 1.98 10.9 iShEdgeMSCIMultUSA LRGF 27.22 21.24 26.72 2.67 11.1 JanusSmCpGwthAlpha JSML 31.85 25.07 30.51 5.27 20.9 n PwrShS&PIntlDevHi IDHD 26.79 25.09 25.47 -0.29 -1.1 SPDRBloomBarSTInTr BWZ 32.32 28.96 29.27 -0.48 -1.6
GugRamJmsFd RYJ 39.60 27.11 38.39 5.82 17.9 iShEdgeMSCIUSASC SMLF 36.33 25.42 35.41 5.80 19.6 JanusSMidGwthAlpha JSMD 32.24 25.02 31.30 6.04 23.9 PSS&PIntlDevLow IDLV 31.46 25.63 28.46 -0.14 -0.5 SPDRBloomBarcSTTr SST 31.39 29.91 30.05 -0.05 -0.2
GuggenS&P500RlEst EWRE 29.00 22.50 26.30 0.21 0.8 iShEdgeMSCIUSAMom MTUM 78.78 63.92 75.86 2.57 3.5 n JanusSocGlbQual SGQI 25.73 25.60 25.60 -0.04 -0.2 PowerShsS&PIntlDev IDMO 25.79 19.59 22.54 -0.83 -3.5 SPDRBloomBarcTIPS IPE 58.93 54.67 56.19 1.56 2.9
GuggenhS&P500Top50 XLG 160.23 129.32 157.54 12.96 9.0 iShEdgeMSCIUSAQual QUAL 70.50 57.86 69.10 4.53 7.0 JanusVelTailRIskLC TRSK 28.31 25.46 27.73 0.47 1.7 S&P400LowVol XMLV 41.28 31.09 40.61 6.60 19.4 SPDRBloomBarc0-5Y SIPE 19.92 19.25 19.86 0.51 2.7
GuggS&PGlbl LVL 10.50 7.51 10.15 1.42 16.3 iShEdgeMSCIUSASize SIZE 73.21 57.92 71.82 6.53 10.0 JanusVelocityVolLC SPXH 31.27 26.36 30.63 1.79 6.2 n PwrShS&PSCHiDivLow XSHD 27.10 25.54 25.84 0.07 0.3 SPDRBofAMLCrsOvCp CJNK 26.65 23.39 25.88 1.80 7.5
GuggS&PGlblWtr CGW 31.20 24.54 28.45 1.31 4.8 iShEdgeMSCIUSAVal VLUE 72.05 53.22 70.19 7.95 12.8 JohnHancockConsDis JHMC 27.34 22.13 25.99 0.67 2.6 S&P600LowVol XSLV 44.20 30.56 43.42 9.67 28.7 SPDRCitiIntGovBd WIP 57.71 49.35 52.02 1.66 3.3
GuggenheimS&PHiInc GHII 27.87 18.16 26.01 4.60 21.5 iShEmMkCorpBdFd CEMB 51.30 45.15 49.57 3.51 7.6 JohnHancockConStp JHMS 28.33 24.31 25.06 -0.10 -0.4 PwrShrsSP500 PBP 21.76 18.71 21.27 0.76 3.7 n SPDRDorseyWrightFx DWFI 26.91 23.61 24.20 -0.83 -3.3
GuggenS&PMC400EW EWMC 59.56 40.23 57.58 10.05 21.1 iShEmgMktDividend DVYE 37.69 25.94 34.58 4.47 14.8 JohnHanMultDev JHMD 24.92 24.73 24.92 0.14 0.6 PwrShSP CnsDscr PSCD 55.75 39.98 52.31 6.39 13.9 SPDRDoubleEMFixed EMTL 52.84 48.43 48.81 -1.38 -2.7
GuggenheimS&P100EW OEW 32.61 25.53 28.19 2.63 10.3 iShEgMkHiYdBdFd EMHY 50.98 43.51 48.68 3.63 8.1 JohnHancockEnergy JHME 31.57 24.40 30.37 5.91 24.2 PwrShSP ConsSt PSCC 70.81 50.23 69.05 14.15 25.8 SPDRDoubleShDurTR STOT 50.59 49.33 49.52 -0.63 -1.3
GuggenhS&PSC600EW EWSC 51.38 32.74 49.93 9.77 24.3 iShEmgMktLCBond LEMB 46.35 38.37 42.85 2.54 6.3 JohnHancockMultFin JHMF 31.48 21.17 30.62 4.27 16.2 PwrShSP SmEnrg PSCE 22.69 10.43 21.02 5.65 36.8 SPDRDoubleTRTact TOTL 50.28 48.14 48.39 -0.21 -0.4
GuggenheimS&PSO CSD 44.79 32.18 43.43 4.99 13.0 iShEurDevRealEst IFEU 39.41 31.43 33.27 -4.32 -11.5 JohnHancockMultHC JHMH 33.88 22.68 25.83 -0.57 -2.2 PwrShSP SmFinc PSCF 53.53 35.04 52.26 11.48 28.2 SPDREUROSTOXX50 HFEZ 35.80 28.65 35.72 0.72 2.1
GuggenheimShipping SEA 13.12 9.68 11.43 -1.24 -9.8 iSharesEuropeETF IEV 40.94 34.52 38.81 -1.30 -3.2 JohnHancockIndls JHMI 30.73 24.83 28.51 3.65 14.7 PwrShrSP SmHlth PSCH 76.98 56.89 73.05 1.18 1.6 SPDREUROSTOXXSC SMEZ 49.63 40.77 46.61 -1.77 -3.7
GuggenheimSolar TAN 31.30 16.45 16.57 -14.07 -45.9 iShExponentialTech XT 27.21 21.02 26.78 1.95 7.9 JohnHancockMultiLC JHML 29.81 23.28 29.06 2.74 10.4 PwrShSP SmInds PSCI 57.92 37.13 55.32 12.09 28.0 SPDRFactSetInnTech XITK 64.85 43.59 58.42 8.50 17.0
n GuggenheimTRBd GTO 55.08 49.71 50.58 0.51 1.0 iShMtgRealEstCap REM 44.00 31.96 42.06 3.82 10.0 JohnHancockMatls JHMA 31.20 24.81 28.77 3.96 16.0 PwrShSP InfTech PSCT 71.32 45.61 69.65 17.33 33.1 SPDRGlobalDow DGT 71.62 56.51 69.91 5.24 8.1
n GuggenUSLCOptVol OVLC 26.77 24.61 25.93 0.61 2.4 iShResidentRealEst REZ 69.29 55.33 62.01 -1.44 -2.3 JohnHancockMultifactorMidCap JHMM 33.00 22.15 28.70 3.09 12.1 PwrShSP SmMatr PSCM 51.32 25.41 47.73 16.41 52.4 SPDRMFSSysCore SYE 64.27 50.63 62.54 3.59 6.1
HartfordMultiDvxUS RODM 25.20 20.95 23.89 0.15 0.6 iShFallAngelsUSDBd FALN 27.16 24.79 26.76 1.64 6.5 JohnHancockMultTch JHMT 31.65 22.83 30.76 3.45 12.6 PwrShSP SmUtil PSCU 50.88 39.21 47.83 6.66 16.2 SPDRMFSSysGrowth SYG 64.29 50.95 63.24 2.90 4.8
HartfordMultiEM ROAM 22.50 17.40 20.58 1.50 7.8 iShFloatingRateBd FLOT 50.85 50.07 50.73 0.29 0.6 JohnHancockUtils JHMU 27.22 23.92 25.25 0.24 1.0 PowerSharesLoan BKLN 23.38 21.75 23.36 0.96 4.3 SPDRMFSSysValueEqu SYV 59.03 44.91 58.50 5.86 11.1
HartfordMultiGlbSC ROGS 26.50 20.29 25.93 2.87 12.5 iShGNMABondETF GNMA 51.33 49.30 49.68 -0.43 -0.9 JPMorganDisciplHY JPHY 51.34 49.60 50.48 0.20 0.4 PwrShrVRDOTxFr PVI 25.01 24.89 24.94 0.03 0.1 SPDRMSCIACWIIMI ACIM 75.00 53.56 65.52 4.02 6.5
n HartfordMultiREIT RORE 15.40 13.88 14.95 0.38 2.6 iShGlbCleanEnergy ICLN 9.78 7.65 7.88 -1.96 -19.9 JPMorganDivAlt JPHF 30.69 25.00 25.67 0.27 1.1 PSVariableRateInv VRIG 25.08 24.97 25.00 -0.01 ... SPDRACWILowCarbon LOWC 76.38 62.43 74.76 4.40 6.3
HartfordMultiUSEqu ROUS 26.37 20.69 25.89 2.12 8.9 iShGlbxUSDHiYdCpBd HYXU 49.05 42.51 45.85 1.48 3.3 JPMorganDivRetEM JPEM 51.17 35.41 46.29 5.50 13.5 PowerSharesVarRt VRP 26.05 21.75 24.61 0.35 1.4 SPDRMSCIAUStrat QAUS 50.84 38.75 47.49 2.46 5.5
n Health&FitnessETF FITS 27.50 23.39 25.02 -0.30 -1.2 iShGlbHiCorpBdFd GHYG 49.89 42.67 48.48 3.86 8.7 n JPMDivRetEurCur JPEH 26.72 25.00 26.61 1.60 6.4 PwrShsWldrHill PUW 27.08 15.62 25.80 6.34 32.6 SPDRMSCICAStrat QCAN 55.46 38.01 53.46 9.04 20.4
HealthCareSelSect XLV 76.00 62.68 68.94 -3.09 -4.3 iShGlobalREITETF REET 28.84 22.85 25.24 -0.01 ... JPMDivReturnEurope JPEU 53.21 45.62 48.82 -2.55 -5.0 PwrShsZacks PZI 19.21 12.82 18.68 3.20 20.7 SPDRMSCIChinaA XINA 23.53 18.47 20.69 -5.54 -21.1
HighlandSrLoan SNLN 18.76 17.63 18.75 0.70 3.9 iShGlbTimber WOOD 55.27 38.89 53.60 5.83 12.2 JPMorganDivReturn JPGE 53.89 44.43 50.87 1.56 3.2 PremiseCapFrAdvDiv TCTL 25.93 25.14 25.65 0.50 2.0 SPDREAFEFossilFr EFAX 61.24 58.27 60.61 0.18 0.3
HrznsS&P500CovCall HSPX 46.09 38.86 45.51 1.74 4.0 iSharesGold IAU 13.25 10.34 11.08 0.85 8.3 n JPMorganDivRetInt JPIH 27.50 24.50 26.21 1.21 4.8 PrincipalEDGEActv YLD 41.12 33.65 40.27 3.45 9.4 SPDRMSCIEAFEStrat QEFA 59.99 48.77 53.71 -1.25 -2.3
HullTacticalUSETF HTUS 27.21 24.16 25.75 0.70 2.8 iShiBoxx$InvGrCpBd LQD 124.48 112.67 117.18 3.17 2.8 JPMDivReturnIntlEq JPIN 52.85 44.04 48.94 -0.36 -0.7 PrincipalHlthInnov BTEC 27.14 21.63 23.00 -2.50 -9.8 SPDREMFossilFuelFr EEMX 55.55 51.15 51.75 -3.80 -6.8
IQ AustrSmCap KROO 17.47 11.67 15.57 2.18 16.3 iShiBondsDec2020Cp IBDL 26.00 24.94 25.23 0.28 1.1 JPMorganDivRetUS JPUS 60.63 47.98 59.21 5.51 10.3 PrincplMillennials GENY 25.50 24.23 24.94 -0.16 -0.6 SPDRMSCIEMStrat QEMM 55.18 41.17 50.14 2.71 5.7
IQ CndaSmCap CNDA 18.35 9.51 16.60 4.70 39.5 iShiBondsDec2018Cp IBDH 26.20 24.87 25.13 0.15 0.6 n JPMorganDivRetUSMC JPME 55.88 49.09 54.15 4.61 9.3 PrincipalPriceSet PSET 26.67 24.91 26.11 1.09 4.3 SPDRMSCIDEStrat QDEU 53.06 45.63 51.61 -0.01 ...
n IQEnhancedCoreBdUS AGGE 22.70 19.27 19.53 -0.48 -2.4 iShiBondsDec2019Cp IBDK 25.56 24.50 24.89 0.24 1.0 JPMorganDivUSSC JPSE 26.66 25.22 26.14 0.89 3.5 PrincipalShrhldrYd PY 28.78 24.25 27.94 3.00 12.0 SPDRMSCIJapanStrat QJPN 68.41 56.30 65.34 0.86 1.3
n IQEnhCorePlusBdUS AGGP 21.21 19.51 19.71 -0.32 -1.6 iShiBondsDec2017Cp IBDJ 25.15 24.71 24.87 0.09 0.4 KraneBoseraChinaA KBA 32.60 26.17 26.75 -8.10 -23.2 PrincipalUSSCIndex PSC 28.49 23.66 27.63 2.28 9.0 SPDRMSCISpainStrat QESP 44.07 35.92 40.55 -2.43 -5.6
IQ50%HdgFTSEEur HFXE 18.33 15.52 17.22 -0.72 -4.0 iShiBondsDec2025Cp IBDQ 25.99 23.81 24.34 0.37 1.5 KraneCSIChInt KWEB 42.91 29.26 34.73 -3.70 -9.6 ProShCDSShNAHYCred WYDE 41.96 34.11 34.31 -3.78 -9.9 SPDRMSCIUSAStrat QUS 66.05 53.53 64.77 4.45 7.4
IQ50%HdgFTSEIntl HFXI 19.71 15.58 18.13 -0.05 -0.3 iShiBondsDec2024Cp IBDP 26.10 23.55 24.48 0.48 2.0 KraneSharesEFdCh KCNY 34.19 31.70 31.94 -2.02 -5.9 ProSharesDJBrkfld TOLZ 42.14 30.91 39.13 3.18 8.8 SPDRMSCIUKStrat QGBR 50.83 42.46 46.33 -3.32 -6.7
IQ50%HdgFTSEJapan HFXJ 19.06 14.99 19.00 0.34 1.8 iShiBondsDec2021Cp IBDM 25.66 24.03 24.70 0.39 1.6 KraneShsFTSEEMPlus KEMP 22.73 18.78 20.48 -1.22 -5.6 ProSharesGerman GGOV 38.16 33.20 34.90 -0.61 -1.7 SPDRMSCIWorldStrat QWLD 64.50 53.82 63.37 3.21 5.3
IQAgribusSmall CROP 32.45 24.98 31.44 3.59 12.9 iShiBdsDec2021Muni IBMJ 26.27 24.92 25.28 -0.28 -1.1 KraneZacksNewChina KFYP 32.42 23.00 28.98 -2.72 -8.6 ProShGlbListedPrv PEX 39.95 31.03 39.01 2.28 6.2 SPDRMSTech MTK 62.39 43.43 60.52 6.44 11.9
IQGlblOilSmCp IOIL 13.73 7.51 12.43 2.47 24.8 iShiBondsDec2026Cp IBDR 25.45 23.56 23.92 -1.04 -4.2 LeggMasonDev DDBI 26.46 22.00 24.22 -0.77 -3.1 ProSharesHdgRep HDG 43.26 40.06 42.93 0.84 2.0 SPDRNuveenMuniBd TFI 50.98 46.81 47.44 -1.32 -2.7
IQGlobalResources GRES 26.73 18.62 25.11 4.27 20.5 iShiBondsDec2023Cp IBDO 25.99 23.98 24.72 0.55 2.3 LeggMasonEMDivCore EDBI 29.49 22.00 25.86 0.94 3.8 ProShHdgFTSEEurope HGEU 39.00 31.72 37.92 0.83 2.2 SPDRNuveenSTMuniBd SHM 49.25 47.67 47.94 -0.78 -1.6
IQHedgeEventDriven QED 20.55 18.43 19.70 0.76 4.0 iShiBondsDec2022Cp IBDN 26.00 24.15 24.79 0.46 1.9 LeggMasonEMLowVol LVHE 26.70 25.00 25.75 0.75 3.0 ProShHdgFTSEJapan HGJP 38.09 26.63 28.47 -7.33 -20.5 SPDRHYMuni HYMB 59.93 54.00 55.97 -1.08 -1.9
IQHedgeL/STracker QLS 19.69 17.66 19.50 0.34 1.8 iShiBdsDec2022Muni IBMK 26.54 24.98 25.34 -0.35 -1.4 LeggMasonGlbInfr INFR 25.33 25.25 25.25 25.25 ... ProSharesHiYld HYHG 69.90 56.20 68.46 5.89 9.4 SPDRRussell1000ETF ONEK 107.27 84.59 105.20 9.15 9.5
IQ HedMacrTrac MCRO 25.77 22.13 24.61 0.27 1.1 iShiBdsMar18CpxFin IBCC 25.03 24.53 24.64 -0.11 -0.4 LeggMasonIntLowVol LVHI 27.27 23.96 25.97 0.85 3.4 ProSharesInflation RINF 29.80 25.71 29.08 0.84 3.0 SPDRRussell2000ETF TWOK 82.99 55.66 79.62 12.20 18.1
IQHedgeMktNeut QMN 26.61 24.82 25.12 0.19 0.8 iShiBdsMar20CpxFin IBCD 25.67 24.24 24.61 0.25 1.0 LeggMasonLowVol LVHD 29.13 23.23 28.56 3.71 14.9 ProSharesInvGrdInt IGHG 76.86 68.35 76.27 3.06 4.2 SPDRRussell3000ETF THRK 174.18 133.38 167.38 15.20 10.0
IQ HedMultStra QAI 29.45 27.69 28.67 0.21 0.7 iShiBdsMar23CpxFin IBCE 25.77 23.60 24.17 0.47 2.0 LeggMasonUSDivCore UDBI 28.08 22.46 27.05 2.07 8.3 ProShK1FreeCrude OILK 22.78 18.36 22.40 2.05 10.1 SPDRRuss1000LowVol ONEV 69.23 53.59 65.80 6.36 10.7
IQLeadersGTAATrkr QGTA 21.99 19.35 21.60 0.87 4.2 iShiBondsMar2020Cp IBDC 27.47 25.70 26.10 0.25 1.0 LoncarCancerETF CNCR 28.56 18.23 21.24 -7.32 -25.6 ProShLrgCpCorePlus CSM 56.42 43.47 55.25 5.89 11.9 SPDRRuss1000Mom ONEO 66.55 52.25 64.78 5.48 9.2
IQMergerArbitrage MNA 29.49 26.64 29.30 1.23 4.4 iShiBondsMar2018Cp IBDB 25.86 25.37 25.60 0.03 0.1 n LongTermCareETF OLD 27.57 22.17 23.45 -1.67 -6.6 ProShMSCIEMDiv EMDV 51.95 40.30 47.18 6.56 16.1 SPDRRuss1000Yd ONEY 72.26 52.09 67.40 8.69 14.8
IQRealReturn CPI 27.42 25.51 26.91 0.38 1.4 iShiBondsMar2023Cp IBDD 28.39 25.52 26.23 0.26 1.0 MadronaDomestic FWDD 46.00 35.54 44.42 3.14 7.6 ProSharesMergerETF MRGR 37.50 34.74 35.65 -0.75 -2.1 SPDRMomentumTilt MMTM 97.36 78.27 93.78 3.71 4.1
IQUSRESmallCap ROOF 28.94 20.69 27.21 2.80 11.5 iShiBdsSep2020Muni IBMI 26.08 25.02 25.24 -0.29 -1.1 MadronaGlobalBond FWDB 26.24 23.96 25.17 0.70 2.9 ProShMornAltSoln ALTS 39.02 36.68 38.61 0.14 0.4 SPDRS&P1500ValTilt VLU 92.33 67.98 88.15 9.91 12.7
IndSelSectorSPDR XLI 64.07 46.82 62.22 9.21 17.4 iShiBdsSep2018Muni IBMG 25.74 25.29 25.40 -0.12 -0.5 MadronaIntl FWDI 25.47 20.18 24.50 0.57 2.4 ProShares RAFI L/S RALS 41.26 38.02 40.03 1.12 2.9 SPDR S&P500MidGr MDYG 137.13 102.39 133.02 15.24 12.9
InfraCapMLPETF AMZA 11.93 6.30 11.33 0.18 1.6 iShiBdsSep2019Muni IBMH 26.39 25.15 25.33 -0.29 -1.1 MktVctDbLngEur URR 19.49 12.65 15.39 -1.61 -9.5 ProShsRuss2000Div SMDV 54.95 37.16 53.74 13.53 33.6 SPDR S&P400MidVl MDYV 97.48 65.32 93.96 17.96 23.6
InnovatorIBD50Fund FFTY 24.91 18.12 24.15 1.98 8.9 iShiBdsSep2017Muni IBMF 28.11 27.07 27.20 -0.15 -0.5 MkVctrDbShtEur DRR 65.79 52.57 65.00 5.30 8.9 ProShrsS&P500xEngy SPXE 46.81 37.70 46.00 3.55 8.4 SPDRS&P500Growth SPYG 107.56 88.09 105.33 5.16 5.2
IntlMultiAssetDiv YDIV 17.95 13.86 15.95 -0.66 -4.0 iShiBoxx$HYCpBd HYG 87.56 75.09 86.55 5.97 7.4 MVEMInvGrade+BB IGEM 25.32 23.26 23.57 -1.43 -5.7 ProShrsS&P500xFin SPXN 46.10 38.03 45.66 2.53 5.9 SPDRS&P500Value SPYV 112.09 84.99 109.47 13.55 14.1
iPathAsian&GulfCur PGD 49.28 47.34 47.34 -1.29 -2.7 iSh$HYxOil&Gas HYXE 52.14 49.52 50.77 1.02 2.0 MasterIncomeETF HIPS 19.00 13.05 17.91 2.02 12.7 ProShrsS&P500xHlth SPXV 48.12 38.34 47.08 4.30 10.1 SPDRS&P600SmallCap SLY 127.00 85.05 120.83 21.83 22.1
iPathBloomAgriTR JJA 42.25 32.59 34.91 0.56 1.6 iShIndia50ETF INDY 31.09 23.24 27.34 0.15 0.6 MatlsSelSectorSPDR XLB 51.69 36.29 49.70 6.28 14.5 ProShrsS&P500xTech SPXT 46.07 38.45 45.42 3.36 8.0 SPDR S&P600SCpGr SLYG 212.71 148.00 208.08 35.58 20.6
iPathBloomAlumTR JJU 16.09 12.78 15.04 1.46 10.7 iShIntRtHdgCorpBd LQDH 95.01 86.22 94.07 2.39 2.6 MeidellTacticalAdv MATH 29.90 25.38 29.32 1.25 4.5 ProSharesS&PMC400 REGL 51.17 35.27 50.36 11.04 28.1 SPDR S&P600SCapVal SLYV 124.31 80.00 119.01 26.14 28.1
iPathBloomCocoaTR NIB 40.95 26.81 26.90 -14.42 -34.9 iShIntRateHdgEM EMBH 25.45 22.57 25.18 1.39 5.8 MomentumIntlQuant IMOM 26.81 21.20 22.80 -2.57 -10.1 PrShrShBscMtr SBM 33.17 21.47 22.10 -6.16 -21.8 SPDR Aero & Dfns XAR 66.91 44.74 63.37 10.49 19.8
iPathBloomCoffeeTR JO 26.21 17.00 19.56 -0.14 -0.7 iShIntRtHdgHiYdBd HYGH 90.63 75.63 89.58 6.53 7.9 MomentumUSQuant QMOM 25.57 19.36 24.71 1.07 4.5 ProShrShrtDow30 DOG 25.34 18.83 19.04 -3.56 -15.8 SPDRS&PBank KBE 44.33 26.28 43.47 9.65 28.5
iPathBloomCommTR DJP 25.50 19.50 24.23 2.76 12.9 iShIRHdg10+ CLYH 24.97 22.15 24.89 1.11 4.7 MSCushMLPHI MLPY 8.24 4.46 8.11 1.23 17.9 ProSharesShortEuro EUFX 45.75 41.16 45.12 1.38 3.2 SPDRS&PCapitalMkts KCE 47.15 32.57 44.88 1.28 2.9
iPathBloomCopperTR JJC 31.34 22.04 28.77 4.13 16.7 iShIntlAggregateBd IAGG 54.18 50.17 51.88 1.74 3.5 MSMrkVecRnmnbi CNY 43.00 38.05 39.05 -2.17 -5.3 ProShShXinhuaCh25 YXI 36.10 24.58 26.88 -2.25 -7.7 SPDRS&PEmgLatAmer GML 50.26 30.04 44.41 9.25 26.3
iPathBloomCottonTR BAL 51.79 35.58 46.46 4.42 10.5 iShIntlDevRealEst IFGL 30.99 24.97 26.28 -1.60 -5.8 MSMktVectRupee INR 39.63 35.70 37.96 1.09 3.0 ProShrShrtFinc SEF 20.31 13.76 13.96 -2.91 -17.2 SPDREmMktsDiv EDIV 29.88 20.63 26.46 2.74 11.6
iPathBloomEnergyTR JJE 7.02 4.05 6.70 1.04 18.3 iShIntlDivGrowth IGRO 52.50 45.50 48.91 1.04 2.2 NashvilleAreaETF NASH 28.29 22.73 26.69 0.75 2.9 ProSharesShortHiYd SJB 30.47 24.51 24.64 -4.01 -14.0 SPDRS&P500Buyback SPYB 54.28 40.05 52.44 6.25 13.5
iPathBloomGrainsTR JJG 37.37 26.62 28.14 -2.21 -7.3 iShIntlTreasuryBd IGOV 102.17 88.49 89.82 0.15 0.2 NatixisSeeyondIntl MVIN 40.04 37.91 38.41 -1.39 -3.5 ProShrS MSCI EAFE EFZ 38.39 31.07 31.92 -1.55 -4.6 SPDRS&P500Fossil SPYX 54.87 43.79 53.53 4.11 8.3
iPathBlmIndMetalTR JJM 26.88 17.70 23.69 4.59 24.0 iShJPX-Nikkei400 JPXN 55.79 44.32 53.02 0.48 0.9 NewfleetMultiUnBd NFLT 26.78 24.16 25.24 0.48 1.9 ProShrS MSCI EM EUM 34.07 23.36 24.96 -4.50 -15.3 SPDRS&P500HiDiv SPYD 36.75 26.69 34.86 5.60 19.2
iPathBloomLeadTR LD 65.80 31.40 47.50 11.91 33.5 iSharesJPMUSDEmgBd EMB 118.14 102.90 110.22 4.44 4.2 NuShsESGLCGrwth NULG 25.22 25.17 25.20 0.03 0.1 PrShrsMdCp MYY MYY 18.64 12.80 13.12 -3.14 -19.3 SPDRS&PGlbDividend WDIV 65.23 50.76 61.82 4.86 8.5
iPathBlmLivestkTR COW 25.46 17.38 22.36 -1.57 -6.6 iShLatinAmerica40 ILF 31.66 17.97 27.58 6.39 30.2 NuShsESGLgCpValue NULV 25.03 24.88 25.01 0.13 0.5 PrShShrtOilGas DDG 37.25 21.82 23.00 -8.03 -25.9 SPDRS&PGlbInfr GII 48.87 37.50 45.00 3.46 8.3
iPathBloomNatGasTR GAZ 0.83 0.36 0.68 -0.04 -5.8 iShLiquidityIncm ICSH 50.25 49.68 49.93 0.20 0.4 NuShsESG MCGrowth NUMG 24.97 24.71 24.81 -0.03 -0.1 ProShrShortQQQ PSQ 60.97 46.14 47.30 -4.90 -9.4 SPDRS&PGlbNatRes GNR 43.01 26.82 41.09 8.99 28.0
iPathBloomNickelTR JJN 14.76 8.94 12.10 1.29 11.9 iShMBSETF MBB 110.26 105.46 106.34 -1.36 -1.3 NuShsESGMCValue NUMV 24.93 24.77 24.79 0.02 0.1 ProShrsSh RE REK 21.87 16.25 17.45 -1.83 -9.5 SPDRS&PHlthCareEqp XHE 52.80 36.75 49.73 5.16 11.6
iPathBlmPlatinumTR PGM 27.36 16.71 18.61 0.04 0.2 iShMSCIACWIETF ACWI 60.77 49.04 59.17 3.35 6.0 NuShsESG SC NUSC 25.05 24.65 24.65 -0.03 -0.1 ProShrShrtRus RWM 73.97 47.81 48.96 -13.15 -21.2 SPDRS&PHlthCareSvs XHS 60.15 47.47 52.46 -4.92 -8.6
iPathBlPrecMetalTR JJP 67.38 49.20 53.46 4.99 10.3 iShMSCIACWIexUSETF ACWX 42.26 34.47 40.27 0.66 1.7 NuSharesEnhYdUSBd NUAG 25.26 24.07 24.29 -0.79 -3.1 ProShShrtS&P500 SH 46.87 36.00 36.54 -5.20 -12.5 SPDRS&PInsurance KIE 83.91 61.34 82.95 13.45 19.4
iPathBloomSoftsTR JJS 45.63 29.91 38.84 4.69 13.7 iShACWILowCarbon CRBN 100.19 81.35 96.70 3.67 3.9 NuSharesShTermREIT NURE 25.30 24.94 24.94 -0.22 -0.9 ProShShtS&PRegBkg KRS 30.43 16.21 16.41 -7.58 -31.6 SPDRS&PIntlDivCurr HDWX 42.97 34.01 42.38 4.49 11.9
iPathBloomSugarTR SGG 53.69 28.31 43.39 8.70 25.1 iShMSCIACxJpn AAXJ 61.63 46.14 54.93 1.52 2.8 NuvShrtDurCrOppFd JSD 17.78 13.65 17.49 2.66 17.9 ProShrsSh7-10YrTr TBX 29.49 26.94 29.07 -0.45 -1.5 SPDRS&PInternetETF XWEB 60.83 50.77 57.71 6.94 13.7
iPathBloomTinTR JJT 50.00 28.89 47.48 15.66 49.2 iShMSCIAllPeruCap EPU 35.72 17.69 32.80 12.62 62.5 OShFTSEAsiaPacQlty OASI 27.61 21.55 25.40 1.22 5.1 ProShrShrtSmCp SBB 59.22 38.42 39.29 -12.48 -24.1 SPDRS&PNAmNatlRscs NANR 36.49 20.60 33.48 8.35 33.2
iPthCBOE Sp BuyWrt BWV 71.41 51.24 69.73 4.34 6.6 iShMSCIAustralia EWA 21.38 16.08 20.23 1.27 6.7 OShFTSEAsiaPacQlty OAPH 26.56 23.15 26.01 0.57 2.2 ProShShortUSDEmgBd EMSH 80.62 74.60 76.94 1.34 1.8 SPDRS&POil&GasEq XES 24.58 12.62 22.35 4.81 27.4
iPathAIGCarbon GRN 10.30 4.09 7.61 -2.60 -25.5 iShMSCIAustriaCap EWO 16.98 13.22 16.53 0.88 5.6 OShsFTSEEurQltyDiv OEUR 24.27 20.40 21.63 -1.35 -5.9 ProSharSh20+Tr TBF 24.72 20.29 23.89 -0.84 -3.4 SPDRS&P1000ETF SMD 91.65 64.13 88.75 11.97 15.6
iPathSDJUBSSugar SGAR 36.77 20.30 31.12 7.82 33.6 iShMSCIBRICETF BKF 35.29 24.20 31.88 2.61 8.9 OShFTSEEurQltyDiv OEUH 31.36 23.55 24.58 -0.62 -2.5 ProSharesShtVIXST SVXY 98.50 29.98 90.98 40.53 80.3 SPDRS&PRegionalBkg KRE 56.54 32.62 55.57 13.65 32.6
iPathDJUBSCoffee CAFE 17.80 12.16 13.65 -0.06 -0.4 iShMSCIBelgiumCap EWK 19.10 15.69 17.51 -0.55 -3.0 OShRussSC Qu OUSM 25.06 24.95 24.95 24.95 ... ProSharesMgdFut FUT 41.69 39.26 41.50 1.37 3.4 SPDRS&PSft&Svs XSW 56.58 39.62 54.54 3.82 7.5
iPathEUR USD Ex ERO 43.08 38.67 39.00 -2.35 -5.7 iShMSCIBrazilCap EWZ 38.50 17.30 33.34 12.66 61.2 OShFTSEUSQuality OUSA 28.54 23.00 27.48 2.42 9.7 ProSharesUSDCovBd COBO 107.41 97.02 99.97 1.45 1.5 SPDRS&PTechHardwr XTH 65.00 50.68 63.10 12.13 23.8
iPathGEMSAsia8ETN AYT 42.72 38.30 39.79 -0.45 -1.1 iShMSCIBrazilSC EWZS 13.21 5.79 10.97 4.09 59.4 n ObesityETF SLIM 29.58 21.15 22.47 -2.60 -10.4 ProShrUlBscMtls UYM 53.35 24.80 49.09 12.91 35.7 SPDRS&PTelecom XTL 73.23 47.03 69.34 13.12 23.3
iPathGEMSIndexETN JEM 29.69 27.40 27.90 -1.35 -4.6 iShMSCICanadaETF EWC 27.27 18.07 26.15 4.65 21.6 OppESGRevenue ESGL 27.32 24.56 27.24 2.41 9.7 PSUltBloombergCrd UCO 14.16 5.98 11.68 -0.86 -6.9 SPDRS&PTransport XTN 57.43 35.86 53.98 11.13 26.0
iPathGSCI nts GSP 15.34 10.63 14.66 1.65 12.7 iShMSCIChileCapped ECH 40.41 29.03 37.42 5.50 17.2 OppenheimFclsSect RWW 59.10 39.23 57.59 9.50 19.8 PSUltBloombgNatGas BOIL 20.53 8.80 18.96 0.48 2.6 n SPDRGenderDivers SHE 66.98 58.99 62.54 3.13 5.3
iPathGBP USD Ex GBB 39.39 31.95 32.50 -6.92 -17.5 iShMSCIChinaAETF CNYA 27.92 24.52 24.71 -0.05 -0.2 OppGlbESGRevenue ESGF 25.21 24.84 25.08 -0.03 -0.1 ProShrUlConsmrGd UGE 41.61 29.20 37.30 2.13 6.1 SPDR US LC Low Vol LGLV 83.35 67.53 80.33 6.34 8.6
InvSP500VIXShort IVOP 40.59 30.42 37.93 0.09 0.2 iShMSCIChinaETF MCHI 49.95 35.27 43.73 -0.89 -2.0 OppenheimerGlbGwth RGRO 47.68 36.41 47.68 7.14 17.6 ProShrUlCnsmr UCC 121.42 79.84 114.85 8.17 7.7 SPDR US SC LowVol SMLV 96.38 65.94 93.43 18.76 25.1
iPathShortTmFturs XXV 39.50 33.44 37.62 -0.50 -1.3 iSharesMSCIChinaSC ECNS 46.11 35.00 41.00 -3.55 -8.0 OppenheimerLgCpRev RWL 44.74 34.86 43.45 4.01 10.2 ProShrUltraDow30 DDM 85.53 50.45 83.54 19.24 29.9 SPDRSSgAGlbAll GAL 34.48 30.49 33.02 0.15 0.5
iPathJPY USD Ex JYN 56.72 46.45 47.50 0.44 0.9 iShMSCIColombia ICOL 14.09 9.36 12.94 2.37 22.4 OppenheimerMdCpRev RWK 56.42 38.40 54.09 8.80 19.4 ProShUlt Euro ULE 17.35 13.54 14.09 -1.42 -9.2 SPDRSSgAIncmAllctn INKM 32.15 27.99 30.46 0.88 3.0
iPathLgMSCIEmMkts EMLB 64.00 62.00 62.00 -6.80 -9.9 iShMSCIDenmarkCap EDEN 59.77 47.74 50.99 -4.86 -8.7 OppenheimerRevWtd RTR 33.73 25.01 32.93 3.45 11.7 ProShUltFTSEEurope UPV 41.62 29.80 37.23 -2.73 -6.8 SPDRSSgAMultiAsset RLY 25.54 20.24 24.41 2.16 9.7
iPat LX Rusl1000 ROLA 190.01 160.80 190.01 35.48 23.0 iShMSCIEAFEESGOpt ESGD 57.04 52.90 55.74 2.84 5.4 OppenheimerSmCpRev RWJ 69.74 43.18 67.12 15.42 29.8 ProShXinhuaChina25 XPP 57.52 30.17 46.55 -1.80 -3.7 SPDRSSgAUltraShrt ULST 41.14 39.65 40.20 0.30 0.8
iPathLERusl2000 RTLA 180.00 180.00 180.00 53.37 42.1 iSharesMSCIEAFESC SCZ 52.85 43.36 49.84 -0.11 -0.2 OppenheimUltraDiv RDIV 35.48 24.15 34.27 6.64 24.0 ProShrUltraFnl UYG 95.35 48.39 92.42 21.42 30.2 SchwEmrgMktEq SCHE 23.54 16.77 21.56 2.05 10.5
iPathLXS&P500 SFLA 208.99 188.76 206.50 24.87 13.7 iShMSCIEMESGOpt ESGE 58.90 52.75 54.28 -0.54 -1.0 n OrganicsETF ORG 37.52 23.82 24.50 -0.86 -3.4 PrSharUlt Gold UGL 48.27 30.38 33.20 3.47 11.7 SchwabFundEmgLrg FNDE 25.00 15.65 23.90 5.57 30.4
iPath MSCI India INP 72.22 53.50 62.60 -1.31 -2.0 iSharesMSCIEAFEETF EFA 60.16 50.94 57.73 -0.99 -1.7 PIMCO25+YrZeroCoup ZROZ 143.05 105.61 108.63 -0.68 -0.6 ProShUltGoldMiners GDXX 93.85 17.19 36.94 16.19 78.0 SchwabFundIntLrgCo FNDF 26.23 20.72 25.10 1.28 5.4
iPathCurrCarry ICI 41.62 37.41 41.11 0.63 1.6 iShMSCIEmMkAsia EEMA 58.56 43.75 52.36 1.96 3.9 PIMCOBrdUSTIPSIdx TIPZ 59.90 55.44 57.44 2.19 4.0 ProShrUlHlthCr RXL 72.21 45.88 60.13 -5.85 -8.9 SchwabFundIntlSmCo FNDC 29.62 23.19 28.38 1.77 6.6
iPathPBAgriculture DIRT 37.53 30.22 32.29 1.13 3.6 iShMSCIEmgMarkets EEM 38.31 27.61 35.01 2.82 8.8 PIMCODivIncmActive DI 50.94 43.40 49.12 3.29 7.2 ProSharesUltraHiYd UJB 65.65 43.39 60.23 12.45 26.1 SchwabFundUSBrd FNDB 33.36 25.21 32.54 4.00 14.0
iPathPBAluminum FOIL 25.00 20.99 23.72 2.03 9.4 iShMSCIEmgMktSC EEMS 45.02 35.74 40.44 -0.45 -1.1 PIMCOEnhShMaturity MINT 101.50 100.39 101.33 0.72 0.7 ProShrUltraInd UXI 51.68 27.52 48.25 12.63 35.5 SchwabFundUSLrgCo FNDX 33.45 25.44 32.63 3.99 13.9
iPathPBBroadCmod BCM 27.96 21.53 27.25 3.46 14.6 iShMSCIEmgMulti EMGF 39.01 29.43 35.48 1.98 5.9 PIMCO15+USTIPSIdx LTPZ 72.58 60.22 64.97 4.11 6.8 ProShrsUltJrMiners GDJJ 152.62 20.18 53.51 28.01 109.8 SchwabFundUSSmCo FNDA 35.03 23.89 34.10 6.13 21.9
iPathPBCocoa CHOC 47.60 31.90 31.93 -15.76 -33.0 iShMSCIEuropeFinls EUFN 19.94 14.31 18.96 -1.36 -6.7 PIMCOGlobalAdvInfl ILB 43.93 38.05 41.84 1.79 4.5 ProShrsUltBrzl UBR 77.42 17.61 57.70 32.25 126.7 SchwabIntmUSTrsr SCHR 56.23 52.89 53.35 -0.25 -0.5
iPathPBCopper CUPM 31.00 22.05 27.74 3.73 15.5 iShMSCIEuropeSmCp IEUS 47.36 38.46 43.82 -1.46 -3.2 PIMCOIntermMuniBd MUNI 55.48 51.73 52.40 -1.57 -2.9 ProSharesUltraMSCI EFO 93.50 67.72 87.39 -2.63 -2.9 SchwIntlEqty SCHF 29.29 23.98 27.68 0.12 0.4
iPathPBCotton CTNN 32.63 23.17 29.25 2.29 8.5 iShMSCIEurozoneETF EZU 35.91 29.71 34.60 -0.44 -1.3 PIMCOInvGrdCorpBd CORP 107.50 95.72 102.30 3.32 3.4 ProShUltraMSCIEmg EET 61.56 32.82 51.51 6.53 14.5 SchwIntSmCpEq SCHC 31.27 24.90 29.10 0.27 0.9
iPat PBCrudeOil OLEM 18.17 11.20 17.36 2.46 16.5 iShMSCIFinlandCap EFNL 34.65 28.67 32.90 0.29 0.9 PIMCOLowDuration LDUR 101.25 97.22 100.37 0.70 0.7 ProShrUltraJapan EZJ 95.66 61.42 87.46 -0.72 -0.8 SchwabSrtTRmUSTrsr SCHO 50.99 50.29 50.42 -0.02 ...
iPathPBEnergy ONG 18.62 12.49 18.62 3.18 20.6 iShMSCIFranceETF EWQ 25.22 21.00 24.67 0.46 1.9 PIMCO1-5USTIPSIdx STPZ 53.10 51.27 52.47 1.14 2.2 ProShrUltMexico UMX 27.87 16.30 17.45 -6.67 -27.6 SchwbUSAggrBd SCHZ 54.10 51.15 51.50 ... ...
iPathPBGrains WEET 40.89 32.05 33.44 0.53 1.6 iShMSCIFrontier100 FM 26.52 21.61 24.85 -0.04 -0.2 PIMCO1-3USTreaIdx TUZ 52.58 50.53 50.66 ... ... ProShrUMdCp400 MVV 98.72 50.98 94.24 26.38 38.9 SchwUS BrdMkt SCHB 55.37 43.06 54.18 5.14 10.5
iPathPBIndstrMtls HEVY 28.71 23.80 27.05 2.63 10.8 iShMSCIGermanyETF EWG 26.89 22.51 26.48 0.29 1.1 PIMCOShrtTrmMuniBd SMMU 50.87 48.75 49.41 -0.86 -1.7 ProShrUltNdBTh BIB 69.00 33.97 39.91 -31.58 -44.2 SCHUSDIVEQTYETF SCHD 44.63 34.88 43.57 5.01 13.0
iPathPBLoad LEDD 41.07 29.40 35.00 5.78 19.8 iShMSCIGermanySmCp EWGS 44.60 35.96 41.44 0.09 0.2 PIMCOTRActive BOND 108.25 102.11 104.13 -0.09 -0.1 ProShrUlOilGas DIG 46.90 20.40 43.61 13.68 45.7 SchwUS LrgCap SCHX 54.44 42.86 53.26 4.69 9.7
iPathPBLivestock LSTK 43.70 33.31 39.35 -3.45 -8.1 iShMSCIGlblAgriPrd VEGI 25.68 19.60 24.96 2.52 11.2 PIMCO0-5YrHiYdCorp HYS 100.43 86.00 99.86 8.24 9.0 ProShsUltraOil&Gas UOP 41.31 11.30 35.08 13.57 63.1 SchwUSLrgCpGrwth SCHG 57.17 45.45 55.83 3.00 5.7
iPathPBNickel NINI 19.83 13.05 16.92 2.05 13.8 iShMSCIGloblEnProd FILL 21.26 13.68 20.32 3.98 24.4 PacerGlbHiDiv PGHD 31.80 24.26 26.85 2.02 8.1 ProShrUltraQQQ QLD 90.55 55.63 86.12 7.76 9.9 SchwabUSLgCpValue SCHV 49.06 37.92 48.09 5.65 13.3
iPathPBPrecsMtls BLNG 37.74 29.84 30.15 0.31 1.1 iShMSCIGlblGoldMin RING 26.78 10.20 17.13 6.17 56.3 PacerTrendEurIndex PTEU 27.86 22.00 23.96 -1.07 -4.3 ProShrUltraRE URE 138.82 79.93 114.26 9.72 9.3 SchwabUSMidCap SCHM 46.51 34.52 45.15 5.08 12.7
iPathPBS&PGSCIWt SBV 23.63 16.93 21.91 2.53 13.0 iShMSCIGlbImpact MPCT 50.80 45.35 47.72 -0.68 -1.4 PacerTrendpilot450 PTMC 28.70 22.94 26.59 3.42 14.8 ProShrUltraRus UWM 117.42 54.24 111.43 32.29 40.8 SchwabUSREIT SCHH 45.59 34.90 41.04 1.40 3.5
iPathPBSofts GRWN 28.87 20.09 24.80 3.56 16.8 iShMSCIGlbMet&MnPr PICK 29.02 13.13 25.74 8.90 52.9 PacerTrendpilot100 PTNQ 23.55 19.66 22.87 -1.05 -4.4 ProShrUltraS&P SSO 78.67 49.31 76.14 13.14 20.9 SchwUS SmCap SCHA 63.49 43.79 61.48 9.39 18.0
iPathS&P500DynVIX XVZ 29.56 25.48 27.69 1.90 7.4 iShMSCIGlSilverMin SLVP 17.10 4.59 10.45 4.83 85.9 PacerTrendpilot750 PTLC 24.58 21.17 23.81 0.75 3.3 ProShUltS&PRegBkg KRU 171.44 57.51 163.10 64.22 64.9 SchwabUSTIPs SCHP 57.48 53.12 54.84 1.71 3.2
iPathGSCrudeOil OIL 6.85 4.30 6.33 0.10 1.6 iShMSCIEAFEGrowth EFG 69.52 58.99 63.69 -3.45 -5.1 PacerUSCashCows100 COWZ 25.18 24.63 24.64 -0.43 -1.7 ProShrUlSemi USD 145.75 56.13 135.33 48.71 56.2 SitRisingRateETF RISE 24.25 20.67 23.77 -0.46 -1.9
iPathS&PMLPETN IMLP 20.91 12.57 20.60 2.25 12.3 iShMSCIHongKong EWH 22.32 16.77 19.48 -0.34 -1.7 PwrShrsRealEst PSR 83.61 63.89 73.40 0.65 0.9 ProShrUl7-10Trs UST 65.74 54.55 56.09 -0.04 -0.1 SPDR DJRlEst RWX 43.15 34.55 36.08 -3.04 -7.8
iPathSeasNatGas DCNG 20.31 14.00 20.31 4.81 31.0 iShMSCIIndiaETF INDA 30.64 23.52 26.81 -0.69 -2.5 PwrShrBldAmBdP BAB 32.33 28.75 29.09 0.10 0.3 PrShUlt Silver AGQ 57.26 26.74 32.09 5.01 18.5 SPDR DJREIT RWR 104.34 80.74 93.35 1.72 1.9
iPath5-YearBear DFVS 32.96 22.50 32.14 0.23 0.7 iShMSCIIndiaSmCp SMIN 38.22 25.88 32.68 -0.60 -1.8 PwrShsBybk PKW 52.00 39.23 50.46 5.00 11.0 ProShrUlSmC600 SAA 86.87 39.44 81.24 27.39 50.9 SPDRGlblRlEst RWO 52.60 42.01 46.86 0.06 0.1
iPathUSTrea5YrBull DFVL 74.46 62.60 63.00 -1.42 -2.2 iShMSCIIndonesia EIDO 27.06 19.65 24.13 3.26 15.6 PwShCEF IncCmp PCEF 23.17 19.25 22.41 1.07 5.0 ProShrUlTech ROM 102.00 57.54 97.00 18.26 23.2 SPDR DJIA Tr DIA 199.83 154.38 197.51 23.52 13.5
iPathFlattener FLAT 65.46 57.70 58.88 -1.16 -1.9 iShMSCIIrelandCap EIRL 41.63 33.37 37.53 -4.03 -9.7 PSCAAMTFreeMuniBd PWZ 27.29 24.80 25.33 -0.55 -2.1 PrShrUltrTelcm LTL 128.29 60.93 120.18 37.17 44.8 SPDR EurSTOXX FEZ 34.85 28.60 33.46 -0.97 -2.8
iPathLgBdBear DLBS 21.57 9.62 20.21 -1.41 -6.5 iShMSCIIsraelCap EIS 50.73 43.17 46.40 -2.79 -5.7 ChineseYuanDimSum DSUM 23.50 21.36 21.57 -1.25 -5.5 ProShUlt20YrTr UBT 107.05 68.50 73.02 -0.24 -0.3 SPDR GldTr GLD 131.15 102.48 109.61 8.15 8.0
iPathLgBdBull DLBL 83.11 74.89 79.33 4.98 6.7 iShMSCIItalyCapped EWI 27.20 19.62 24.21 -3.27 -11.9 PwrShsCleantch PZD 33.57 24.95 32.69 3.29 11.2 ProShrUltraUtil UPW 46.21 29.29 38.98 8.31 27.1 SPDR MSCI exUS CWI 33.08 26.91 31.49 0.69 2.2
iPathSteepener STPP 36.00 29.92 34.60 -0.30 -0.9 iShMSCIJapanETF EWJ 51.48 40.72 48.86 0.38 0.8 PSContrarianOpps CNTR 31.14 21.27 29.74 5.30 21.7 ProSharesUltVIXST UVXY 309.60 7.50 8.75-133.00 -93.8 SPDREmMktSmlCp EWX 43.94 32.94 39.72 2.01 5.3
iPath10-yearBear DTYS 21.98 9.95 19.82 -0.45 -2.2 iSharesMSCIJapanSC SCJ 65.36 50.94 61.57 3.12 5.3 PowerSharesDBAgr DBA 23.01 19.55 19.97 -0.64 -3.1 ProSharUlt Yen YCL 77.14 53.38 55.52 0.82 1.5 SPDR S&P ConDis IPD 37.40 31.52 35.99 -0.81 -2.2
iPath10-yearBull DTYL 85.20 73.72 73.72 -1.09 -1.5 iShMSCIKLD400Soc DSI 84.37 66.99 82.38 6.67 8.8 PwrShsDBBaseMtls DBB 16.34 11.00 14.92 3.04 25.6 ProShrsDow30 UDOW 97.95 44.60 94.87 30.33 47.0 SPDR S&P ConStpl IPS 44.98 37.54 39.55 -1.92 -4.6
iPath2yearBear DTUS 33.61 25.32 32.36 -0.81 -2.4 iShMSCIKokusaiETF TOK 55.78 45.58 54.38 2.62 5.1 PwrShsDBComTr DBC 15.89 11.70 15.84 2.48 18.6 ProShUltraProFin FINU 136.29 41.99 126.16 45.89 57.2 SpdrSPIntDiv DWX 37.83 28.93 36.06 2.70 8.1
iPath2yearBull DTUL 67.98 61.74 62.92 0.19 0.3 iShMSCIMalaysiaETF EWM 36.04 27.58 28.07 -2.89 -9.3 PowerSharesDBEnFd DBE 13.89 8.67 13.81 2.61 23.3 ProShrsMidCap400 UMDD 84.58 31.92 78.32 28.31 56.6 SPDR S&P IntEngy IPW 19.13 12.45 18.70 3.38 22.1
iSectorsPostMPT PMPT 25.22 22.79 24.36 -0.56 -2.3 iShMSCIMexicoCap EWW 54.69 42.44 43.97 -5.86 -11.8 PwrShasDBGoldFd DGL 44.84 35.06 37.03 2.37 6.8 UltraPrNASDQBiotec UBIO 54.29 17.37 21.11 -36.74 -63.5 SPDR S&P IntlFnl IPF 21.25 15.39 19.37 -0.45 -2.3
iShAAA-ARtdCorpBd QLTA 54.39 50.51 51.36 0.84 1.7 iShMSCINetherlands EWN 25.43 21.40 24.15 0.31 1.3 PowerSharesDBOilFd DBO 9.84 6.55 9.68 0.63 7.0 PrShrUltPrQQQ TQQQ 137.13 67.34 127.23 13.00 11.4 SPDR S&P IntHltCr IRY 50.14 41.38 43.50 -6.87 -13.6
n iShAdCurrHdgMSCI DEFA 25.03 21.79 24.59 1.40 6.0 iShMSCINZCapped ENZL 49.93 33.85 39.73 2.25 6.0 PSDBOptYdDivCmdty PDBC 18.45 13.62 17.28 1.67 10.7 ProShrsRusl2000 URTY 127.87 41.50 118.60 44.48 60.0 SPDR S&P IntInd IPN 30.88 24.64 29.53 1.78 6.4
n iShAdCurrMSCIEuroz DEZU 24.10 20.92 23.89 0.91 4.0 iShMSCINorwayCap ENOR 22.60 15.90 21.75 2.84 15.0 PwrShsDBPrecMtls DBP 42.74 32.47 34.85 2.63 8.2 ProShUltPro S&P UPRO 85.73 42.98 81.78 19.16 30.6 SPDR S&P IntMtrls IRV 21.01 14.21 20.16 3.23 19.1
n iShAdCurrHdgJapan DEWJ 25.94 20.93 24.92 1.20 5.1 iShMSCIPacificxJp EPP 42.55 32.77 39.57 1.18 3.1 PwrShsDBSlvr DBS 32.84 21.65 24.86 2.99 13.7 ProShrsShrtDow30 SDOW 24.81 9.91 10.22 -7.51 -42.4 SPDR S&P IntTech IPK 36.02 26.49 34.02 2.82 9.0
iShAsia50ETF AIA 51.02 36.30 46.24 3.97 9.4 iShMSCIPhilippines EPHE 40.48 28.98 32.42 -1.32 -3.9 PSDWADevelopedMkts PIZ 24.17 20.52 21.39 -2.31 -9.7 ProShUltraProShFnl FINZ 32.41 7.66 8.13 -10.65 -56.7 SPDRS&PIntTelecom IST 26.30 21.86 22.67 -2.41 -9.6
iShA/PDividend DVYA 48.20 34.75 44.96 5.71 14.6 iShMSCIPolandCap EPOL 20.35 15.47 18.12 0.04 0.2 PSDWAEmergingMkts PIE 16.76 13.19 14.74 -0.21 -1.4 ProShrShtMidCap400 SMDD 51.11 15.79 16.68 -17.60 -51.3 SPDR S&P IntUtil IPU 17.07 14.20 14.84 -1.24 -7.7
iShAgencyBondETF AGZ 117.44 110.31 112.62 -0.53 -0.5 iShMSCIQatarCapped QAT 21.11 15.88 19.06 -0.22 -1.1 PSDWAMomentum DWLV 26.12 24.09 25.54 -0.01 ... UltraProShrtBiotec ZBIO 50.95 18.06 23.99 3.48 17.0 SPDR S&PMdCpTr MDY 309.59 220.88 301.73 47.69 18.8
iSharesCMBSETF CMBS 53.70 50.05 51.06 0.40 0.8 iShMSCIRussiaCpd ERUS 35.08 18.10 33.52 11.26 50.6 PSDWAMomentum PDP 43.37 35.42 42.00 0.63 1.5 ProShUltraProShQQQ SQQQ 29.03 12.10 13.03 -5.62 -30.1 SPDR S$P Russ RBL 21.24 11.07 20.33 6.48 46.8
iShGovt/CreditBond GBF 118.69 111.23 112.02 0.32 0.3 iShMSCISaudiArabia KSA 25.84 19.07 25.26 1.04 4.3 PowerShDWANASDAQ DWAQ 80.39 60.02 78.26 3.73 5.0 ProShrShrtRusl2000 SRTY 48.31 12.25 13.12 -16.20 -55.3 SPDR S&P 500 SPY 228.34 181.02 223.53 19.66 9.6
iShIntermCredBd CIU 111.85 107.10 108.19 0.91 0.8 iShMSCISingapore EWS 22.82 17.82 19.93 -0.63 -3.1 PSDWASCMomentum DWAS 41.54 29.74 40.40 2.80 7.4 ProShUltProShS&P SPXU 44.31 19.52 20.41 -11.30 -35.6 SPDR S&P Biotch XBI 69.21 44.16 59.19 -11.01 -15.7
iShIntmGovt/CredBd GVI 114.00 109.01 109.85 0.24 0.2 iShMSCISouthAfrica EZA 60.55 37.82 52.36 5.65 12.1 n PSDWATacticalMulti DWIN 28.86 25.04 27.37 2.30 9.2 ProUltProShrt20YTr TTT 37.51 20.34 32.78 -4.87 -12.9 SPDR SP China GXC 82.08 57.88 72.05 -1.44 -2.0
iSh1-3YCreditBond CSJ 106.12 104.42 104.94 0.34 0.3 iShMSCISouthKorea EWY 59.14 44.42 53.22 3.55 7.1 PowerShDWATactical DWTR 26.00 20.61 24.23 -0.97 -3.8 ProSharesUltShtAUD CROC 65.96 48.06 55.24 -2.91 -5.0 SPDR S&P Div SDY 88.23 66.86 85.56 11.99 16.3
iSharesTIPSBondETF TIP 117.55 109.77 113.17 3.49 3.2 iShMSCISpainCapped EWP 29.41 22.58 26.51 -1.76 -6.2 PwrShrDB G10 DBV 25.73 22.39 24.81 1.47 6.3 ProShrUSBscMtls SMN 49.00 19.73 21.30 -13.02 -37.9 SPDR SP EmAsPac GMF 84.32 63.40 75.13 1.53 2.1
iSh10-20YTreasBd TLH 148.75 131.10 132.93 -1.28 -1.0 iShMSCISwedenETF EWD 31.21 25.11 28.73 -0.45 -1.5 PwrShrDB DlrBear UDN 22.83 20.21 20.46 -0.96 -4.5 PSUltBloomCrudeOil SCO 243.67 61.35 63.30 -70.34 -52.6 SPDR SP EmEuro GUR 28.40 19.12 27.75 5.27 23.4
iSh3-7YTreasuryBd IEI 127.80 121.46 122.51 -0.10 -0.1 iShMSCISwitzerland EWL 31.46 27.52 29.46 -1.58 -5.1 PwrShrDB DlrBull UUP 26.77 23.96 26.46 0.81 3.2 PSUlShBlmbrgNatGas KOLD 85.01 21.44 23.05 -23.50 -50.5 SPDR SP EmMkt GMM 62.31 44.81 57.28 5.20 10.0
iShares0-5YTIPSBd STIP 101.82 98.89 100.72 1.80 1.8 iShMSCITaiwanCap EWT 31.98 22.42 29.37 3.83 15.0 PowerShDevEuroPac FXEP 28.38 24.92 24.99 -1.02 -3.9 ProShrUSCnsmrGd SZK 26.26 17.15 18.70 -2.81 -13.1 SPDR SP EmMEA GAF 64.31 40.93 55.60 5.81 11.7
iShCalifMuniBd CMF 122.50 113.23 115.48 -2.67 -2.3 iShMSCIThailandCap THD 76.95 54.94 72.09 13.45 22.9 PwrShsDynBscMtrl PYZ 63.71 41.46 59.22 10.39 21.3 ProShrUSCnsmrSvc SCC 54.83 33.64 35.37 -7.29 -17.1 SPDR S&P Home XHB 36.66 27.72 33.85 -0.33 -1.0
iShCommodSelStrat COMT 34.85 23.77 34.29 5.85 20.6 iShMSCITurkeyETF TUR 46.42 30.45 32.47 -3.89 -10.7 PwrshsDynBiot PBE 49.64 34.02 38.81 -11.71 -23.2 PrShrsUSDow30 DXD 25.31 13.88 14.18 -5.98 -29.7 SPDR IntlSC GWX 31.63 24.61 29.00 0.77 2.7
iShCommOptimized CMDT 39.52 29.88 36.63 4.60 14.3 iShMSCIUAECapped UAE 18.00 12.90 16.54 0.73 4.6 PwrShsDynConDis PEZ 44.89 36.03 42.13 -1.91 -4.3 PrShUltSh Euro EUO 27.89 22.45 27.08 1.55 6.1 SPDR S&P MtlMng XME 34.24 11.38 30.41 15.46 103.4
iShConvertibleBd ICVT 49.62 39.94 48.62 2.88 6.3 n iShMSCIUSAESGOpt ESGU 49.67 48.26 49.13 0.87 1.8 PwrShsDynConStp PSL 59.15 51.57 53.62 -3.17 -5.6 ProShrUltShFTSEEur EPV 75.21 48.80 51.45 -7.09 -12.1 SPDRS&POilGasExpl XOP 44.97 22.06 41.42 11.20 37.1
iShAggrAllocation AOA 48.19 40.59 47.22 2.38 5.3 iShMSCIUSAESGSelct KLD 94.47 73.97 92.01 8.63 10.4 PwrShsDynEngySec PXI 47.35 25.41 43.51 9.94 29.6 ProShXinhuaChina25 FXP 63.31 28.54 34.04 -7.90 -18.8 SPDR S&P Pharm XPH 50.71 36.58 39.09 -12.11 -23.7
iShConsAllocat AOK 33.57 30.55 32.53 0.89 2.8 iShMSCIUSAEqWeight EUSA 48.64 36.65 47.33 5.13 12.2 PwrShsDynFnlSec PFI 32.03 25.98 30.65 -0.04 -0.1 ProShrUSFnl SKF 65.09 29.79 30.60 -15.26 -33.3 SPDR S&P Retail XRT 48.26 37.80 44.07 0.83 1.9
iShCoreDivGrowth DGRO 29.54 23.18 28.90 3.21 12.5 iShMSCIUK EWU 33.13 27.60 30.69 -1.59 -4.9 PwrshsDyFdBev PBJ 34.74 29.53 33.47 1.27 3.9 PrShUltSh Gold GLL 112.92 64.91 90.54 -25.29 -21.8 SPDR S&P Semi XSD 58.51 36.53 56.11 12.43 28.5
n iShCore5-10YUSDBd IMTB 50.06 48.36 48.72 -1.29 -2.6 iShMSCIUKSmCp EWUS 40.37 30.40 33.92 -5.62 -14.2 PwrShsDynHlthSec PTH 54.35 37.76 48.00 -7.11 -12.9 ProShUltShGoldMin GDXS 127.32 11.93 21.35 -87.05 -80.3 SPDR S&P exUS GWL 26.92 22.36 25.70 -0.05 -0.2
iShGrwthAllocation AOR 41.46 36.12 40.58 1.70 4.4 iShMSCIEAFEValue EFV 48.66 39.47 47.25 0.73 1.6 PwrShsDynIndSec PRN 51.27 38.52 49.95 5.37 12.0 ProShrUSHlthCr RXD 63.25 41.24 46.45 -0.94 -2.0 SPDR STOXX Eu50 FEU 31.84 27.43 29.90 -1.92 -6.0
iShCoreHiDividend HDV 84.33 67.99 82.25 8.84 12.0 iShMSCIWorldETF URTH 75.42 60.52 73.08 3.48 5.0 PwrshsDynEnt PEJ 41.47 30.14 40.02 3.26 8.9 ProShrUSInd SIJ 51.66 25.33 26.45 -13.82 -34.3 SPDRWelsFrg PSK 47.67 41.35 41.95 -2.73 -6.1
iShCoreMSCIEAFEETF IEFA 56.06 47.13 53.63 -0.75 -1.4 iShMorningstarLC JKD 135.19 105.60 132.67 13.60 11.4 PwrshsDyMedia PBS 26.76 20.87 26.21 1.07 4.3 PrShrUltra7-10 PST 23.25 19.56 22.57 -0.67 -2.9 n Whiskey&SpiritsETF WSKY 25.83 23.44 24.31 -0.65 -2.6
iShCoreMSCIEmgMk IEMG 46.54 33.91 42.45 3.06 7.8 iShMornLCGrowth JKE 123.99 103.22 121.02 0.73 0.6 PwrshsDynNetw PXQ 41.57 27.70 40.37 5.75 16.6 ProShrUltraBrazil BZQ 113.63 15.15 18.22 -62.91 -77.5 SprottBuzzSocMedia BUZ 27.73 22.32 26.19 0.91 3.6
iShCoreMSCIEurope IEUR 43.05 36.31 40.69 -1.55 -3.7 iShMornLCValue JKF 96.10 73.42 94.11 12.35 15.1 PwrShsDynPharm PJP 69.24 53.55 56.03 -13.94 -19.9 ProShrUS MSCI EAFE EFU 53.22 34.14 36.10 -5.01 -12.2 SprottGoldMiners SGDM 29.85 11.22 18.86 6.13 48.2
iShCoreMSCIPacific IPAC 51.53 40.76 48.81 1.09 2.3 iShMorningstarMC JKG 162.08 124.42 157.28 14.22 9.9 PwrshsDynSemi PSI 37.78 21.03 36.09 10.86 43.0 ProShrUS MSCI Jpn EWV 67.11 38.46 41.48 -7.31 -15.0 SprottJrGoldMiners SGDJ 49.10 17.23 31.76 12.51 65.0
iShCoreMSCITotInt IXUS 53.15 43.02 50.49 1.01 2.0 iShMornMCGrowth JKH 166.43 126.65 162.03 7.48 4.8 PwrshsDynSftw PSJ 49.31 35.02 47.18 4.91 11.6 PrShUltMSCI MexInv SMK 37.05 20.45 27.51 0.61 2.3 n SummitWaterETF WTRX 27.04 25.00 25.31 -0.07 -0.3
iShModAllocation AOM 36.32 32.51 35.23 1.18 3.5 iShMornMCValue JKI 149.63 103.33 144.47 25.63 21.6 PwrShsDynTchSec PTF 41.60 30.81 39.92 0.23 0.6 PrShrsMidCp MZZ MZZ 53.15 24.80 25.94 -14.59 -36.0 TechSelectSector XLK 49.41 38.03 48.36 5.53 12.9
iShCore1-5YUSDBd ISTB 51.04 49.55 50.00 0.37 0.7 iShMornMultiAsst IYLD 25.49 21.95 24.31 1.04 4.5 PwrShrEmrgInfra PXR 32.72 23.25 30.66 3.31 12.1 ProShrUS MSCI EM EEV 31.73 14.49 16.42 -7.43 -31.2 TeucriumAgricFd TAGS 30.95 24.29 25.68 -0.79 -3.0
iShCoreRussUSGrw IUSG 43.81 35.40 42.92 2.33 5.7 iShMorningstarSC JKJ 161.30 111.76 156.22 27.73 21.6 PwrShrEmMktDbt PCY 30.95 26.50 28.26 0.95 3.5 ProShUltShNdBtech BIS 54.01 28.90 34.99 6.28 21.9 TeucriumCornFund CORN 23.69 17.68 18.71 -2.51 -11.8
iShCoreRussUSValue IUSV 50.16 37.30 49.13 6.67 15.7 iShMornSCGrowth JKK 150.21 106.48 144.75 10.07 7.5 PSEuropeCurrency FXEU 25.20 20.50 20.83 -3.83 -15.5 ProShrUSOilGas DUG 101.12 34.86 37.42 -34.45 -47.9 TeucriumSoybeanFd SOYB 21.95 16.95 19.10 1.77 10.2
iShCoreS&P500ETF IVV 229.69 181.90 224.99 20.12 9.8 iShMornSCValue JKL 148.22 96.75 142.80 28.03 24.4 PwrShsDivAch PFM 23.50 18.73 22.89 2.34 11.4 ProShsUltShOil&Gas SOP 62.00 9.50 10.37 -24.59 -70.3 TeucriumSugarFund CANE 15.04 8.65 13.00 2.94 29.2
iShCoreS&PMdCp IJH 169.86 121.12 165.34 26.02 18.7 iShNasdaqBiotech IBB 331.78 240.03 265.38 -72.95 -21.6 PwrShsIntDivAch PID 15.08 11.08 14.41 0.83 6.1 PrShrsUShrQQQ QID 40.21 22.77 23.93 -5.78 -19.5 TeucriumWheatFund WEAT 9.67 6.69 6.88 -2.26 -24.7
iShCoreS&PSmCpETF IJR 141.35 95.25 137.52 27.41 24.9 iShNatlAMTFrMuniBd MUB 115.19 106.30 108.18 -2.53 -2.3 PwrShsDynMkt PWC 82.72 62.14 80.74 7.52 10.3 ProShrUSRlEst SRS 56.97 31.21 35.66 -9.15 -20.4 3DPrintingETF PRNT 24.11 19.55 21.10 1.25 6.3
iShS&PTotlUSStkMkt ITOT 52.38 40.76 51.29 4.86 10.5 iShNewYorkMuniBd NYF 115.51 107.14 108.89 -3.04 -2.7 PwrShsFnlPfd PGF 19.56 17.46 17.96 -0.87 -4.6 ProShrUlShtRus TWM 55.34 22.66 23.72 -15.57 -39.6 TierraXPLatAmRlEst LARE 32.50 21.99 24.20 -0.30 -1.2
iShCore10+YUSDBd ILTB 68.96 58.61 60.65 2.20 3.8 iShNorthAmNatRscs IGE 37.62 22.71 35.95 7.81 27.8 PwrShsFTSE RAFI PRF 102.31 76.67 99.55 12.72 14.6 ProShrsUShrt S&P SDS 25.03 14.65 15.11 -4.82 -24.2 TortoiseNAPipeline TPYP 30.26 14.59 23.70 6.17 35.2
iShCoreTotalUSDBd IUSB 53.76 49.00 50.27 0.68 1.4 iSh13YearIntlTBd ISHG 84.37 75.73 76.26 -1.66 -2.1 PwrShrWtrRes PHO 25.55 18.15 24.59 2.92 13.5 ProShrUSSemi SSG 58.30 19.99 21.45 -18.05 -45.7 TrimTabsFloatShr TTAC 28.54 24.36 27.06 1.92 7.6
iShCoreUSAggBd AGG 113.27 107.06 108.06 0.05 ... iShPHLXSemicond SOXX 127.91 74.80 122.72 32.88 36.6 PwrShsAerospc PPA 43.48 30.80 41.74 6.10 17.1 PrShUltSh Silv ZSL 65.15 25.08 38.76 -25.79 -40.0 TuttleTactMgtMulti TUTI 23.13 21.90 22.31 -0.92 -4.0
iShCoreUS REIT USRT 53.83 41.91 48.77 1.44 3.0 iShRussell1000Gwth IWF 107.03 87.38 104.90 5.42 5.4 PwrShsDynBldg PKB 29.46 19.74 27.87 4.07 17.1 ProShrUlShtSmC600 SDD 48.99 20.28 20.94 -16.23 -43.7 TuttleTacticMgmtUS TUTT 22.43 21.00 21.70 -0.80 -3.6
iShCurrHdgIntlHY HHYX 26.11 22.86 26.11 2.11 8.8 iShRussell1000ETF IWB 127.11 99.92 124.46 11.15 9.8 PwrShsDynEngy PXE 24.92 15.92 23.08 1.17 5.4 ProShsUltraShrt TPS 27.97 23.20 26.20 -1.98 -7.0 2xLevLgETRACSWF LBDC 19.63 11.24 19.63 3.24 19.8
iShCurrHdgNikk400 HJPX 26.52 20.30 26.26 0.05 0.2 iShRussell1000Val IWD 114.47 86.15 112.03 14.17 14.5 PwrShsLgCpGro PWB 32.52 27.05 31.93 0.64 2.0 ProShrUSTech REW 59.70 30.92 32.34 -13.57 -29.6 UBSMLPShort MLPS 20.17 11.62 11.62 -3.68 -24.1
iShCurHdgMSCIACWI HACW 25.23 20.71 24.83 1.34 5.7 iShRussell2000Gwth IWO 159.41 111.51 153.94 14.66 10.5 PwrShsLgCpVal PWV 34.57 26.07 33.72 4.63 15.9 ProShrUltSh3-7YrTr TBZ 28.07 25.11 27.50 -1.03 -3.6 UBSNatGasMLPETN MLPG 27.21 14.93 25.92 2.96 12.9
iShCurHdgMSCIUS HAWX 23.41 19.45 23.11 0.96 4.3 iShRussell2000ETF IWM 138.82 93.64 134.85 22.23 19.7 PwrShsDynOil PXJ 14.18 8.71 12.77 0.94 8.0 ProShsUltraSh20+ TBT 44.00 29.45 40.82 -3.25 -7.4 UBSAGFIEnhGlbHiYd FIHD 130.85 97.86 124.96 22.60 22.1
iShCurrHdgMSCIMV HACV 27.05 23.35 25.86 0.91 3.6 iShRussell2000Val IWN 122.47 78.56 118.94 27.00 29.4 PwrShsDynRtl PMR 38.86 31.70 35.95 -1.26 -3.4 ProShrUSUtil SDP 48.98 30.00 32.36 -15.36 -32.2 UBSAGFIEnhLCGrw FBGX 143.36 92.00 138.53 14.34 11.5
iShCurrHdgMSCIAus HAUD 23.42 19.41 22.89 1.62 7.6 iShRussell3000ETF IWV 135.76 105.62 132.98 12.67 10.5 PwrShsDynUtil PUI 28.17 21.74 25.62 3.21 14.3 PrShUltSh Yen YCS 89.83 58.96 80.25 -7.64 -8.7 E-TRACS DJ Cmd DJCI 16.99 13.04 15.88 1.66 11.7
iShCurrHdgMSCICda HEWC 25.36 19.34 24.99 3.89 18.5 iShMicro-CapETF IWC 87.82 58.86 85.84 13.74 19.1 PwrShrETFDvMkt PDN 28.15 22.76 27.00 1.08 4.2 ProShsVIXMTFut VIXM 68.12 40.84 42.34 -11.65 -21.6 UBSWellsFargoETN BDCS 23.00 16.75 22.69 2.41 11.9
iShCurrHdgMSCIEAFE HEFA 26.52 21.32 26.12 0.72 2.8 iShRussellMid-Cap IWR 183.92 138.63 178.86 18.68 11.7 PwrShrETFEmgMk PXH 19.13 11.75 18.15 4.21 30.2 ProShsVIXSTFut VIXY 102.20 19.69 21.26 -45.39 -68.1 E-TRACS AlrInfr MLPI 30.69 17.25 28.41 2.25 8.6
iShCurrHdgMSCIEAFE HEFV 25.41 23.18 24.59 -0.45 -1.8 iShRussellMCValue IWS 82.86 59.69 80.43 11.77 17.1 PwrShsWldrhll PBW 4.71 3.41 3.68 -1.06 -22.4 n PureFundsDroneEcon IFLY 29.20 24.00 26.97 1.67 6.6 n USCFRestaurant MENU 17.47 15.24 16.73 1.43 9.4
iShCurHdgMSCIEAFE HSCZ 25.85 20.74 25.53 0.99 4.0 iShRussellTop200Gr IWY 57.42 47.56 56.32 2.78 5.2 PSFTSEIntlLowBeta IDLB 26.23 21.78 24.48 -0.15 -0.6 PureFundsETFHealth IMED 25.72 23.08 23.43 -1.53 -6.1 USCFStockSplitIndx TOFR 17.12 13.02 16.38 1.37 9.1
iShCurrHdgMSCIEM HEMV 25.42 21.97 23.62 0.29 1.2 iShRussellTop200 IWL 51.96 41.54 50.94 3.95 8.4 PwrShrAPac ex-Jap PAF 50.27 36.78 47.33 4.27 9.9 PureFdsISEBigData BIGD 25.13 18.00 23.18 -0.62 -2.6 USEquityHiVol HVPW 21.13 17.81 19.41 -1.50 -7.2
iShCurrHdgMSCIEM HEEM 22.46 17.69 21.21 1.21 6.0 iShRussellTop200Vl IWX 48.01 36.84 47.00 5.28 12.7 PwrShrDevMkt ex-US PXF 38.85 31.11 37.55 1.35 3.7 PureFundsISECyber HACK 28.27 19.15 26.44 0.54 2.1 U.S.GlobalJetsETF JETS 29.14 19.60 27.87 2.95 11.8
iShCurrHdgMSCIEur HEUV 25.92 21.60 22.41 -2.63 -10.5 iShS&P100 OEF 101.26 81.14 99.30 8.13 8.9 PwrShsUS1500 PRFZ 119.28 79.71 115.29 21.40 22.8 PureFdsISEJrSilver SILJ 19.78 4.04 12.03 6.96 137.3 USMktRotationStrat HUSE 40.92 33.37 36.18 -1.71 -4.5
iShCurrHdgMSCIEuSC HEUS 25.91 22.14 24.29 -1.33 -5.2 iShS&PMC400Growth IJK 185.81 140.36 182.20 21.24 13.2 PerShsFndHiYlCpBd PHB 18.99 16.53 18.79 1.35 7.7 PureFISEMobilePymt IPAY 26.00 20.00 25.59 0.99 4.0 ETRACS2xBDC BDCL 19.89 10.71 19.70 3.72 23.3
iShCurHdMSCIEurozn HEZU 26.82 21.45 26.60 0.78 3.0 iShS&P500Growth IVW 124.31 101.83 121.79 5.99 5.2 InvGradeCorpBdPort PFIG 26.94 24.80 25.22 0.20 0.8 PureFdSolactiveFin FINQ 26.71 23.33 23.44 -1.67 -6.7 UtilitiesSelSector XLU 53.02 42.45 48.57 5.29 12.2
iShCurrHdMSCIGrmny HEWG 25.92 20.16 25.84 1.47 6.0 iShGlobalEnergyETF IXC 36.16 23.27 34.80 6.77 24.2 PwrShrGlblAgricult PAGG 25.53 20.02 24.60 1.42 6.1 n PureFundsVideoGame GAMR 33.40 25.23 30.05 4.82 19.1 ValideaMktLeg VALX 27.32 19.30 26.31 3.25 14.1
iShCurHdgMSCIItaly HEWI 21.69 13.45 15.11 -6.65 -30.6 iShGloblFinancials IXG 59.71 42.35 57.78 4.79 9.0 PwrShrGlbClEngy PBD 11.44 9.19 10.40 -1.02 -8.9 QuantSharesHdgDiv DIVA 26.61 21.49 25.79 2.62 11.3 ValueShrsIntlQuant IVAL 26.30 20.55 25.68 1.73 7.2
iShCurrHdMSCIJapan HEWJ 29.02 22.14 27.80 -0.87 -3.0 iShGlobalHealthcr IXJ 106.25 89.70 94.82 -7.80 -7.6 PwrShrGlGldPrecMet PSAU 27.14 10.84 17.58 5.83 49.6 MktNtrlAnti-Beta BTAL 24.85 18.06 19.70 -0.98 -4.7 ValShUSQuantit QVAL 26.07 19.16 24.75 2.55 11.5
iShCurHdgMSCIMex HEWW 24.01 19.99 20.41 -1.77 -8.0 iShGlobalTechETF IXN 112.54 85.28 109.88 12.36 12.7 PwrShsPrvtEqty PSP 11.40 8.69 11.11 0.59 5.6 QSMktNeutralMom MOM 30.54 20.25 22.77 -4.85 -17.6 VanEckMerkGoldTr OUNZ 13.61 10.65 11.39 0.87 8.3
iShCurrHdgMSCISK HEWY 25.30 21.70 24.31 1.05 4.5 iShGlobalTelecom IXP 64.52 53.28 58.72 0.87 1.5 PowerSharesGlbShrt PGHY 28.83 21.58 24.44 1.52 6.6 QSMktNeutralSizeFd SIZ 22.29 19.92 21.97 0.62 2.9 VanEckAMTFr 6-8Y ITMS 25.11 23.43 23.70 -1.39 -5.5
iShCurHdgMSCISpain HEWP 20.73 16.62 19.99 -0.42 -2.1 iShS&P500ValueETF IVE 103.53 78.41 101.38 12.85 14.5 PwrShrGlbWtr PIO 22.63 18.12 20.80 -0.13 -0.6 MktNeutralValueFd CHEP 27.45 22.19 27.45 3.27 13.5 VanEckAMTFr12-17Y ITML 25.17 22.94 23.48 -1.67 -6.6
iShCurHdgMSCISwitz HEWL 23.90 21.98 23.54 -0.11 -0.5 iShIntlDevProperty WPS 38.99 31.31 33.61 -1.52 -4.3 PSGoldnDragonChina PGJ 34.43 25.08 28.59 -4.31 -13.1 n REXGoldHdgFTSEEM GHE 31.20 23.18 23.24 -1.78 -7.1 VanEckVctrAfrica AFK 22.01 14.68 19.79 2.00 11.2
iShCurrHdgMSCIUK HEWU 26.21 20.27 22.63 -0.13 -0.6 iSharesGlobal100 IOO 78.64 64.32 76.72 3.89 5.3 PwrShsHiYld PEY 17.26 11.89 16.93 3.58 26.8 n REXGoldHdgS&P500 GHS 29.39 24.06 25.53 0.45 1.8 VanEckVctrAgribus MOO 53.29 40.92 51.34 4.85 10.4
iShIntlSelDividend IDV 30.73 24.90 29.56 0.85 3.0 iShGlobalConsDiscr RXI 93.46 76.80 90.16 1.14 1.3 PwrShrsIndia PIN 52.79 16.79 19.28 -0.24 -1.2 n REXVolMAXXInvVIXWk VMIN 103.48 22.27 22.51 -1.09 -4.6 VanEckAMTFrIntMuni ITM 24.93 22.74 23.19 -0.78 -3.3
iShSelectDividend DVY 90.61 69.31 88.57 13.42 17.9 iShGlobalUtilities JXI 49.81 41.92 44.70 0.68 1.5 PowerSharesIntlBuy IPKW 29.12 22.72 28.28 2.27 8.7 n REXVolMAXXLgVIXWk VMAX 29.75 7.60 8.47 -18.08 -68.1 VanEckAMTFrLgMun MLN 21.18 18.66 19.36 -0.56 -2.8
iShTransportAvg IYT 171.16 114.91 162.84 28.11 20.9 iShGlobalMaterials MXI 57.57 37.99 54.83 9.82 21.8 PwrShsIntlCorpBd PICB 27.41 23.86 24.49 -0.73 -2.9 ROBOGlblRobotics ROBO 29.27 20.54 28.65 4.45 18.4 VanEckAMTFrShMuni SMB 17.80 16.99 17.25 -0.28 -1.6
iShUSBasicMaterial IYM 86.94 58.66 83.16 12.63 17.9 iShGloblIndustrial EXI 77.39 59.98 75.36 7.74 11.4 PowerShJapanCurr FXJP 27.05 22.70 26.59 1.20 4.7 RealEstSectorSPDR XLRE 34.82 27.07 30.75 -0.43 -1.4 VanEckBDCIncome BIZD 18.37 13.50 18.01 2.24 14.2
iShUSConsumerSvcs IYC 155.76 125.53 151.03 6.38 4.4 iShrsSP GSCI Cmdty GSG 16.26 12.03 15.67 1.44 10.1 PS KBW Banks KBWB 48.42 28.87 47.27 9.68 25.8 RealitySDIVCONDivDef DFND 25.92 22.06 23.44 -0.27 -1.1 VanEckVectBiotech BBH 124.96 93.10 107.57 -19.38 -15.3
iShUSConsumerGoods IYK 118.43 98.54 110.72 2.29 2.1 iShIntlPfdStock IPFF 17.50 13.40 15.74 -0.34 -2.1 PowerShsKBWHiDiv KBWD 23.98 16.68 22.98 1.99 9.5 RealityDIVCONDivGd GARD 23.87 19.95 21.24 -2.48 -10.5 VanEckVctrBrazilSC BRF 19.08 8.55 15.89 5.51 53.1
iShUSFinlServices IYG 109.16 70.69 106.26 16.28 18.1 iShS&PMC400Value IJJ 150.28 100.71 145.21 28.01 23.9 PowerShsKBWPREIT KBWY 38.59 26.08 37.64 7.19 23.6 n RealityDIVCONLdrs LEAD 26.23 22.50 25.85 2.10 8.8 VanEckVctrCEFMuni XMPT 29.96 25.10 25.81 -1.05 -3.9
iShU.S.Healthcare IYH 157.77 129.10 144.13 -5.88 -3.9 iShS&PSC600Growth IJT 153.18 106.57 150.00 25.69 20.7 PowerShsKBWP&CIns KBWP 56.70 43.36 55.62 7.56 15.7 RealitySharesDIVS DIVY 26.17 22.04 25.24 1.92 8.2 VanEckChinaBond CBON 24.50 21.89 21.96 -2.22 -9.2
iShU.S.Industrials IYJ 123.69 90.39 120.58 17.65 17.2 iShS&PSC600Value IJS 144.90 93.00 140.01 31.85 29.4 PS KBW Regional Bk KBWR 57.16 33.83 55.91 14.80 36.0 ReavesUtilitiesETF UTES 33.23 26.10 29.50 3.10 11.7 VanEckVctrCSI300 PEK 41.33 32.98 36.92 -7.16 -16.2
iShU.S.RealEstate IYR 85.80 65.88 76.94 1.86 2.5 iShUSPfdStk PFF 40.34 35.89 37.21 -1.64 -4.2 PSLadderRite0-5Yr LDRI 26.09 24.58 24.83 0.11 0.4 ReconCapDAXGerm DAX 25.53 21.29 25.10 0.21 0.8 VanEckSMEChiNxt CNXT 37.40 28.34 28.84 -12.45 -30.1
iShU.S.Utilities IDU 132.34 105.50 121.83 13.91 12.9 iShr S&P EmMkt EMIF 32.11 23.59 27.99 0.73 2.7 PwrShMultiStratAlt LALT 23.20 20.60 22.55 0.31 1.4 ReconCapNasd100 QYLD 23.39 20.50 22.35 -1.06 -4.5 VanEckVectorsCoal KOL 14.74 5.07 12.26 6.01 96.2
iShUSAerospace&Def ITA 146.76 101.10 140.52 22.30 18.9 iShGlblConStaples KXI 101.62 86.09 92.08 -0.95 -1.0 PwrShsNdqInt PNQI 89.41 62.00 82.64 2.41 3.0 ReconCapUSAMgdRisk USMR 25.46 24.34 25.08 -0.01 ... VanEckVectorsEgypt EGPT 41.80 24.72 26.40 -11.81 -30.9
iShU.S.EnergyETF IYE 43.31 28.08 41.54 7.68 22.7 iSharesGlobalInfra IGF 42.46 32.55 39.04 3.10 8.6 PSNatlAMTFrMuniBd PZA 26.64 24.41 24.89 -0.58 -2.3 RenaissanceIPOETF IPO 21.29 15.86 20.67 -0.22 -1.1 VanEckVctrEMAggBd EMAG 21.82 19.27 20.35 0.54 2.7
iShU.S.Financials IYF 103.41 73.35 101.46 13.08 14.8 iSharesNATech-Mult IGN 44.91 29.93 43.62 6.54 17.6 PSNYAMTFreeMuniBd PZT 25.74 23.37 23.92 -0.39 -1.6 RenaissanceIntlIPO IPOS 19.85 16.59 18.00 -1.48 -7.6 VanEckEMHYBond HYEM 24.68 21.16 24.04 1.92 8.7
iShUSHealthcarePrv IHF 132.81 105.56 125.28 0.93 0.7 iShNorthAmerTech IGM 126.98 93.33 123.81 13.12 11.9 PwrShrsLadTrsr PLW 35.81 31.44 31.88 -0.40 -1.2 RiverFrontDynCore RFCI 27.89 24.16 24.44 -0.46 -1.8 VanEckEnvironSvcs EVX 77.06 54.20 75.57 16.91 28.8
iShUSHomeConstrn ITB 30.00 21.61 27.48 0.38 1.4 iShNATech-Software IGV 115.16 82.09 108.85 5.04 4.9 PwrShrsS&PEmgHBP EEMO 16.41 12.07 14.43 0.22 1.6 n RiverFrontDynUSDiv RFDA 27.52 24.45 26.98 1.78 7.1 VanEckFallAnglHYBd ANGL 29.30 23.24 28.78 4.45 18.3
iShU.S.Insurance IAK 60.46 44.02 59.33 8.18 16.0 iShShortMaturityBd NEAR 50.22 49.93 50.18 0.16 0.3 PowerSharesS&PIntl IDHQ 20.94 17.61 19.20 -0.95 -4.7 n RiverFrontDyUSFlex RFFC 27.92 24.22 27.31 2.06 8.2 VanEckVctrGaming BJK 37.89 26.78 33.84 2.11 6.6
iShUSOilEquip&Svcs IEZ 49.11 27.50 45.45 9.67 27.0 iShShrtMatMuniBd MEAR 52.06 49.65 49.76 -0.25 -0.5 PwrShrPfdETF PGX 15.50 13.95 14.23 -0.72 -4.8 RiverFrontDynUncon RFUN 27.50 24.65 25.76 1.00 4.0 VanEckVectGenDrugs GNRX 26.56 21.20 21.47 -3.66 -14.6
iShUSOil&GasExpln IEO 70.34 40.25 65.44 12.49 23.6 iShShortNatlMuniBd SUB 106.72 104.44 105.07 -0.88 -0.8 PwrShrs QQQ QQQ 121.52 94.84 118.48 6.62 5.9 RiverFrontStratInc RIGS 25.50 23.41 25.16 0.97 4.0 VanEckGlbAltEn GEX 54.87 44.16 50.48 -4.33 -7.9
iShUSPharmaceuticl IHE 159.56 129.20 141.42 -20.27 -12.5 iShShortTreasuryBd SHV 110.46 110.21 110.30 0.08 0.1 PSRussellMidcapEW EQWM 43.01 31.12 41.74 5.19 14.2 RBC YorkvilleMLP YGRO 11.57 7.16 10.86 0.22 2.0 Continued on Page R11
PREFERRED STOCK LISTINGS 2016 TRADING SUMMARY

Net Pct Net Pct Net Pct Net Pct Net Pct
Stock Hi Lo Last Chg Chg Stock Hi Lo Last Chg Chg Stock Hi Lo Last Chg Chg Stock Hi Lo Last Chg Chg Stock Hi Lo Last Chg Chg
26.19 22.19 22.85 -2.68 -10.5 GladstoneCommPfD 26.99 23.00 25.25 0.48 1.9 26.59 22.89 25.04 0.48 2.0 SantndrHldPfdN 27.08 23.47 25.73 -0.12 -0.5
A CenturyLinkNts
SchwabPfdC 28.31 24.52 25.26 -1.67 -6.2 GldstoneComrc pf 26.25 24.85 25.10 0.04
NatlGeneralNts
0.2 n NatlRetailPropPfdF 25.05 20.65 21.58 -3.44 -13.7 SaratogaInvNts23 26.35 25.00 25.85 0.25 1.0
SchwabPfdB 27.27 24.77 25.27 -1.49 -5.6 GladstoneCommPfA 26.02 24.94 25.49 -0.01 ... NatlRetailPropPfE 27.13 22.75 23.11 -1.69 -6.8 SaratogaInvtNt 25.96 23.18 25.28 0.42 1.7
AES PfdC 52.48 45.00 50.40 0.32 0.6 n SchwabPfdD 28.00 0.00 24.99 -0.19 -0.8 GladstonePfdD 25.80 24.75 25.31 0.34 1.4 NatlRetailPropPfdD 26.80 24.96 25.11 -1.00 -3.8 Satrn JCPen 20.50 13.27 17.84 2.19 14.0
AFLAC Deb 27.48 23.55 24.20 -1.64 -6.3 ChespkeEngy pfD 49.45 5.00 46.35 29.15 169.5 GladstonePfdC 29.00 21.44 25.36 0.37 1.5 NtlWstmin pfC 26.90 24.16 25.63 -0.27 -1.0 SaulCentersPfdC 27.03 24.65 25.19 -0.96 -3.7
AG Mortgage PfdB 25.30 19.21 23.82 1.87 8.5 ChesapeakePfdA 27.50 24.09 25.39 -0.44 -1.7 GladstonePfdB 26.52 22.10 25.81 0.54 2.1 NaviosMariPfdH 11.46 2.37 7.00 -3.42 -32.8 ScorpioBulkNt19 22.96 7.43 22.36 9.86 78.9
AG Mortgage PfdA 26.01 19.88 24.40 2.14 9.6 n ChimeraInvPfdA 25.75 23.45 25.02 0.42 1.7 n GladstoneLandPfd 27.05 24.50 25.44 0.31 1.2 NaviosMaritimPf 11.68 2.50 7.54 -3.22 -29.9 ScorpioTankNt20 24.91 17.45 22.44 0.44 2.0
AGNCInvPfdB 26.69 22.65 25.10 1.44 6.1 CinnBell pfB 51.47 47.33 48.91 0.90 1.9 GlobalIndemNts 26.48 23.00 24.80 0.96 4.0 Navistar pfD 16.25 1.92 11.21 8.36 293.3 ScorpioTankNt17 26.00 21.24 25.28 0.58 2.3
AGNCInvPfdA 26.80 24.40 25.24 -0.11 -0.4 CitigrpCapXIIIPf 26.50 24.50 25.82 -0.17 -0.7 GlShipLeasePfdB 21.62 7.67 20.39 8.16 66.7 NY CmtyCap V 51.44 48.50 49.82 -0.18 -0.4 SeaspanNts2019 26.46 22.75 25.16 0.86 3.5
AXIS CapPfdE 25.00 21.04 21.66 -3.21 -12.9 CitigroupPfdAA 29.40 26.39 27.53 -0.78 -2.8 GoldmanSachsPfdK 29.74 25.10 27.14 -0.65 -2.3 NewYorkMtgPfB 24.06 17.54 23.74 5.48 30.0 SeaspanPfdH 25.75 17.50 19.47 -5.25 -21.2
AXIS CapPfdC 27.08 24.68 25.21 -1.61 -6.0 CitigroupPfdS 105.69 23.75 25.30 0.35 1.4 GoldmanSachsPfdN 28.30 24.70 26.08 1.07 4.3 NY MtgPfdC 24.13 17.81 22.91 4.16 22.2 n SeaspanPfdG 26.20 18.03 19.94 -4.71 -19.1
AXIS CapPfdD 27.70 21.96 22.71 -2.57 -10.2 CitigroupPfdK 30.10 23.11 27.35 -0.51 -1.8 GoldmanSachsPfdJ 27.64 23.00 25.36 -0.53 -2.0 NewtekNts2021 25.96 24.65 25.53 0.54 2.2 SeaspanPfdE 26.50 17.72 20.49 -3.00 -12.8
AdCareHealthPfA 25.00 17.27 23.32 1.32 6.0 CitigroupPfdJ 30.44 25.56 27.98 -0.03 -0.1 GldmnSachs pfB 26.77 25.01 25.43 -0.56 -2.2 NewtekBusNts2022 26.97 23.83 26.09 0.10 0.4 SeaspanPfdD 26.90 16.19 20.35 -2.30 -10.2
AegonCapSec AEB 25.39 20.57 22.53 -1.61 -6.7 CitigroupPfdL 28.32 14.67 26.18 -1.29 -4.7 GoldmanSachsPfdC 24.32 19.82 21.77 0.78 3.7 NextEraPfdDebJ 26.34 20.82 21.78 -2.99 -12.1 SelectiveInsNts 26.82 23.07 23.90 -2.11 -8.1
AegonCapSec AEH 26.69 23.20 25.04 -0.74 -2.9 CitigroupPfdC 26.61 23.66 24.81 -1.14 -4.4 GldmnSachs pfD 23.65 19.03 21.82 1.42 7.0 NextEraEnDebG2072 26.73 23.32 24.26 -1.34 -5.2 SeniorHousingNts 26.92 23.35 24.47 -0.33 -1.3
AegonCapSec AED 26.68 23.64 25.16 -0.70 -2.7 CityOfficePfdA 25.10 21.52 22.80 -2.13 -8.5 GldmnSachs pfA 23.47 18.41 22.09 2.24 11.3 NextEraEnCapI 26.54 21.11 21.98 -2.97 -11.9 SeniorHousingNts 28.66 21.74 23.31 -2.07 -8.2
AEGONNotes 28.38 25.04 26.05 -1.49 -5.4 CivistaBcshrsPfB 61.30 32.50 61.30 24.55 66.8 GoldmanSachsPfdI 26.90 24.61 25.25 -0.94 -3.6 NextEraEnCapSerH 26.46 22.76 23.83 -1.62 -6.4 SimonPropPfdJ 81.50 65.34 67.34 -4.66 -6.5
AffiliatedMgrsNt 27.69 24.73 25.25 -1.41 -5.3 ColonyCapPfdC 25.70 17.52 23.30 1.39 6.3 GovtPropNts2046 26.38 22.20 23.57 -1.38 -5.5 NiaMoPwr pfB 104.75 87.12 95.95 3.95 4.3 SolarCapNts 26.37 22.53 25.18 0.30 1.2
AL Power Pfd O 31.25 25.30 26.24 -2.36 -8.2 ColonyCapPfdA 26.34 20.16 25.26 0.29 1.2 GramercyPfdA 28.78 24.36 26.48 1.28 5.1 NiaMoPwr pfC 113.82 90.25 96.86 3.74 4.0 SotherlyHotelsNts 26.52 25.00 25.93 0.48 1.9
AlerePfdB 408.68 254.51 332.90 51.70 18.4 ColonyCapPfdB 26.80 18.61 24.68 0.22 0.9 GreatElmNts20 26.25 24.00 25.40 0.21 0.8 NorthernTrPfdC 28.12 24.84 25.06 -1.74 -6.5 SotherlyHotelsPfB 26.90 23.76 25.47 -0.05 -0.2
AlexandriaPfdE 26.85 24.40 25.09 -0.62 -2.4 Comcast Nts 27.72 24.30 25.08 -0.58 -2.3 GreatPlainsEnPfdB 54.23 48.63 50.60 -1.15 -2.2 NorthstarRltyPfB 25.68 15.00 24.97 1.98 8.6 SoCA Ed pfB 25.78 21.64 22.30 -0.54 -2.4
AlexandriaPfdD 37.25 26.50 34.26 6.77 24.6 Comcast DECS 60.95 40.21 45.30 2.30 5.3 NorthstarRltyPfD 26.99 15.00 25.47 2.52 11.0 SoCA Ed pfC 25.91 22.00 23.55 0.43 1.9
AllerganPfdA
AlldCap nts47
1021.56
26.28
691.00
24.30
762.46 -266.53
25.23 -0.21
-25.9
-0.8
CommerceBcshPfB 29.85 24.72
ConsumersEnerPf 108.75 95.35
25.44
102.90
-1.16
5.90
-4.4
6.1
H NorthstarRltyPfA 25.75 15.75 25.33
NorthstarRltyPfE 26.88 15.33 25.70
1.73
2.08
7.3
8.8
SoCA Ed pfD
SoCA Ed pfE
26.85 22.40 24.32 0.40
27.00 22.52 25.15 0.30
1.7
1.2
AllstateDeb 28.26 23.50 25.17 0.48 1.9 CorEnergyInfrPf 25.41 13.05 24.61 6.40 35.1 HCI Group Nts 26.52 24.95 25.85 0.32 1.3 NorthstarRltyPfC 26.38 15.75 25.55 1.82 7.7 SCE I Pfd 26.61 23.17 23.32 -1.99 -7.9
AllstatePfdE 28.67 25.51 25.87 -1.88 -6.8 CoresitePfdA 27.29 25.05 25.30 -1.19 -4.5 HECO CapTr III 27.85 25.55 25.60 -0.22 -0.9 NuSTAR EnPfdA 26.94 24.56 26.85 1.98 8.0 SouthernNt2016A 25.32 21.28 21.82 -3.18 -12.7
Allstate PfdF 29.16 25.00 25.65 -1.17 -4.4 CorpOffPropPfdL 26.77 24.85 25.26 -0.52 -2.0 HSBCHldgPfd 27.93 25.27 25.95 -0.74 -2.8 NuSTARLogNts 26.70 16.37 25.80 5.08 24.5 SouthernNt2015A 28.93 25.00 26.10 -0.79 -2.9
Allstate PfdC 28.61 25.54 25.78 -1.87 -6.8 Corts Aon KTN 34.99 30.25 32.05 0.80 2.6 HSBC PfdA 26.32 23.31 25.20 -0.37 -1.4 SouthwestEnerPfB 36.14 13.28 25.47 6.92 37.3
AllstatePfdA
AllstatePfdD
27.88
28.71
24.17
25.54
24.75 -1.29
25.87 -1.81
-5.0
-6.5
Corts JCPen JBR 19.98 13.33
Corts JCPen JBS 19.79 13.95
17.80
17.80
2.56
2.34
16.8
15.2
HSBC Pfd
Hancock Nts
26.95 25.05
27.75 23.61
25.80
24.39
-0.27
-0.09
-1.0
-0.4
O SpecialOppFdPfB 26.24 25.21 25.40 -0.10
StanleyBlackDeb 26.96 23.95 24.33 -1.58
-0.4
-6.1
AmFinGrpNts2042 26.89 24.16 24.99 -0.87 -3.4 Corts JC KTP 21.99 15.75 20.84 4.29 25.9 HanoverInsDeb 26.98 24.02 25.00 -0.47 -1.8 OFGBancorpPfB 25.13 13.50 25.13 6.49 34.8 StarBulkNts2019 22.25 7.83 21.67 9.67 80.6
AmFinDeb2055 28.02 23.47 25.00 -0.67 -2.6 Corts PECO KTH 37.17 29.91 31.66 -0.71 -2.2 HartfordFinDeb42 32.55 28.21 29.63 -1.97 -6.2 OFGBancorpPfA 25.42 14.20 25.42 7.79 44.2 StateStreetPfdE 28.70 25.05 25.30 -1.27 -4.8
AmFinDeb2054 28.28 24.43 25.03 -1.02 -3.9 Corts PF KCC 33.88 28.56 28.78 0.22 0.8 HarvestCapNts20 25.94 20.31 25.45 0.30 1.2 OFGBancorpPfD 24.10 13.94 23.71 6.12 34.8 n StateStreetPfdG 27.89 24.25 25.02 -0.60 -2.3
AmFinGrp2042 26.96 24.98 25.12 -0.94 -3.6 CostamarePfdB 23.20 11.62 20.30 3.15 18.4 HeclaMiningPfd 66.00 51.00 55.25 ... ... OM AssetMgmtNt 25.29 20.15 21.72 -3.52 -13.9 StateStreetPfdD 29.54 24.77 25.87 -1.81 -6.5
AmHomes4RentPfdA 28.70 24.37 27.60 1.90 7.4 CostamarePfdC 22.84 12.28 21.67 2.95 15.8 HerculesCapNts24 26.47 24.50 25.40 0.06 0.2 Old2ndCapPfd 10.87 9.86 10.18 0.23 2.3 StateStreetPfdC 27.25 23.01 23.38 -2.82 -10.8
AmHomes4RentPfdB 28.69 24.98 27.38 1.27 4.9 CostamarePfdD 23.42 12.41 22.20 2.86 14.8 HerculesCapNts19 25.77 24.80 25.55 0.13 0.5 OxfordLanePfd 25.85 21.34 25.57 1.46 6.0 StellusCapNt 26.02 22.50 25.52 0.90 3.6
AmHomes4RentPfdE 26.33 22.55 24.51 -0.48 -1.9 CntrwdCapV 26.50 24.78 25.46 -0.17 -0.7 HerculesCapNts19 25.88 25.07 25.57 0.34 1.3 OxfordLanePfd 26.05 21.76 25.90 0.59 2.3 StericyclePfdA 100.79 60.37 63.27 -28.34 -30.9
AmHomes4RentPfdD 27.58 22.15 25.00 -0.11 -0.4 CowenNts 29.13 20.60 25.71 0.33 1.3 HershaHospPfdD 25.75 22.26 22.34 -2.40 -9.7 n StifelFinlPfdA 28.46 24.33 24.86 -0.86 -3.3
28.25 24.76 27.15 1.44 5.6
AmHomes4RentPfdC
AmerTowerPfdB 116.74 89.62 104.50 3.50 3.5
CullenFrostPfd 27.86 22.38
CustomersBncpNt 27.74 25.55
24.66
26.25
-0.73
-0.94
-2.9 n Hersha Pfd E
-3.4
24.87 22.00
HershaHospPfdC 27.92 23.50
22.51
24.29
-2.26
-0.80
-9.1
-3.2
PQ Strats Allst GJT
Strats Dom GJP
18.59 17.25 18.01 0.07
23.10 19.66 21.70 0.75
0.4
3.6
AmTowerREIT PfdA 117.25 90.13 104.82 2.56 2.5 CustomersBncpPfdC 27.74 25.00 26.04 -0.41 -1.5 n Hess Pfd 80.33 48.00 73.66 24.32 49.3 18.55 16.74 18.26 -0.19 -1.0
AmerSvcFncl pf 29.00 25.70 26.02 -0.70 -2.6 n CustomersBncpPfdF 25.75 23.22 PNCFinPfdP 30.88 26.20 27.29 -1.26 -4.4 Strats GSG GJS
25.00 0.06 0.2 HillmanGroupPfd 34.74 29.75 32.38 1.93 6.3 PNC Fin PfdQ 26.37 23.01 23.62 -1.93 -7.6 Strats NewsAm GJV 26.86 25.06 25.16 -0.14 -0.6
AmTrustFinPfdA 26.00 23.15 24.58 0.19 0.8 CustomersBncpPfdD 28.97 23.68 25.65 0.57 2.3 HorizonTechNt19 26.42 23.84 25.50 0.29 1.2 21.21 19.09 20.70 0.80 4.0
AmTrustNts 26.81 23.84 25.26 -0.38 -1.5 PPL Capital Nts 27.75 24.01 25.00 -0.80 -3.1 Strats PG GJR
CustomersBncpPfdE 27.13 24.69 25.60 0.54 2.2 HospitalityPrPfD 26.65 23.93 25.22 -0.63 -2.4 n PSBusParksPfdW 25.30 20.58 21.56 -3.19 -12.9 Strats USC GJH 11.21 9.54 9.89 0.03 0.3
AmTrustNts 28.75 24.01 25.75 -0.12 -0.5 CyclacelPharmPfd 11.29 3.60 6.20 2.28 58.2 7.73 2.04 7.50 2.95 64.8 Strats WlMrt GJO 21.67 19.80 20.00 -0.15 -0.7
AmTrustFinPfdF 25.58 22.85 23.08 -1.95 -7.8
HovnanianPfdA PSBusParksPfdT 26.89 23.88 24.31 -1.23 -4.8
HuntingtonBcshPfC 27.40 22.67 24.10 -1.51 -5.9 PSBusParksPfdS 26.45 24.18 25.05 -1.27 -4.8 SummitHotelPfdD 27.00 22.45 23.55 -1.35 -5.4
26.49 24.04 25.02 -0.28 -1.1
AmTrustFinPfdB
AmTrustFinPfdC 26.89 23.92 25.16 -0.40 -1.6 D HuntingtonBcPfD 28.97 24.28
HuntingtonBcPfA 1500.00 1330.00
25.30
1414.97
0.63
49.97
2.6
3.7
PSBusParksPfdV 26.70 22.79 23.29 -1.72 -6.9 SummitHotelPfdC 28.19 22.31 25.33 -0.68
SummitHotelPfdB 27.05 24.39 25.74 -0.06
-2.6
-0.2
n AmTrustFinPfdE 27.40 24.50 25.52 0.87 3.5 PSBusParksPfdU 26.37 22.85 23.28 -1.82 -7.3
DDR PfdK 27.13 23.60 23.83 -1.27 -5.1 PacGE pfI 25.99 23.15 23.75 0.50 2.2 SunCommPfA 26.83 25.10 25.19 -1.01 -3.9
26.91 23.76 25.22 -0.19 -0.7
n
AmTrustFinPfdD
AnnalyCapPfdE 25.93 23.95 24.10 -1.45 -5.7 n DDR PfdJ 26.60 23.66 24.72 -0.48 -1.9 I PacGE pfH 27.06 22.00 23.22 -0.78 -3.2 n SunstoneHotelPfF 26.65 23.82 24.86 -0.26 -1.0
AnnalyCapPfdA 27.00 24.00 25.04 0.11 DTE EnergyDeb76 26.60
0.4 n DTE EnergyDebF 25.71 24.24 21.67 22.54 -2.36 -9.5 PacGE pfG 28.90 23.55 25.00 0.60 2.5 n SunstoneHotelPfE 28.44 24.29 25.35 0.05 0.2
25.70 1.10 4.5 n IberiabankPfdC 30.00 24.85 26.55 1.35 5.4 PacGE pfD 27.50 24.00 25.73 1.14 4.6 SunTrustBksPfA 25.00 21.41 23.46 0.28 1.2
AnnalyCapPfdC 26.04 22.78 24.10 0.68 2.9 SunTrustBksPfE 26.84 24.07 24.85 -1.04 -4.0
AnnalyCapPfdD 26.29 22.27 24.14 0.98 4.2 DTE EnergyDeb62 26.10 22.33 23.94 -0.87 -3.5 IberiabankPfdB 28.20 23.30 26.75 0.80 3.1 PacGE pfE 27.25 24.45 25.60 0.20 0.8
DtscheBkTrII 25.82 18.64 23.97 -1.69 -6.6 ING Grp 6.2Secs 26.52 22.27 25.04 -0.46 -1.8 PacGE pfC 30.00 24.19 24.98 -0.26 -1.0 SVB Cap II Pfd 26.84 25.12 25.77 0.11 0.4
AnworthMtgPfdB 26.27 17.95 25.58 2.48 10.7 SynovusFinlPfdC 30.46 26.26 27.52 -0.39 -1.4
AnworthMtgPfdA 26.40 21.04 24.73 1.16 4.9 DeutscBkTruPS 26.81 20.70 24.96 -1.48 -5.6 ING Grp 7.2Secs 26.68 21.00 25.58 -0.41 -1.6 PacGE pfB 33.00 26.25 28.20 0.90 3.3
25.87 22.92 25.29 0.79 3.2 DeutschBkTruPS 27.53 21.01 25.26 -1.90 -7.0 ING GrpHybrd 26.79 23.17 25.14 -0.64 -2.5 PacGE pfA 33.70 28.74 30.64 1.39 4.8
AnworthMtgPfdA
ApartmentInvPfdA 29.47 25.29 25.84 0.20 0.8 DianaShippingNts 24.69 14.12 20.62 1.59 8.4 ING Grp 6.125Secs 26.28 22.43 25.01 -0.53 -2.1 PartnerRePfdF 27.48 22.95 24.34 -1.66 -6.4 T
n ApolloCommPfdC 25.55 23.80 24.78 -0.26 -1.0 DianaShippingPfd 18.52 8.82 16.41 2.16 15.2 InterstateP&LPfdD 29.30 22.70 24.35 -1.48 -5.7 PartnerRePfdI 28.94 22.97 23.52 -2.48 -9.5
ApolloComlREPfdA 26.29 22.11 25.34 -0.54 -2.1 DigitalRealtyPfG 26.75 23.05 23.93 -1.02 -4.1 InvescoMtgPfdB 26.25 19.05 24.09 2.36 10.8 PartnerRePfdG 30.33 25.02 25.92 -1.33 -4.9 TCF Fin PfdA 27.38 25.17 25.60 -0.99 -3.7
ApolloInvNts 26.79 23.00 25.17 -0.24 -0.9 DigitalRealtyPfF 27.57 24.66 25.12 -1.04 -4.0 InvescoMtgPfdA 26.39 19.00 24.33 2.89 13.5 PartnerRePfdH 32.40 25.02 27.29 -1.28 -4.5 TCF Fin PfdB 26.45 24.09 25.00 -0.70 -2.7
ApolloInvNts2043 27.41 22.73 25.29 0.23 0.9 DigitalRealtyPfH 29.49 25.88 27.15 0.21 0.8 InvestorsRealPf 26.54 24.95 25.38 -0.11 -0.4 PebblebrookPfdD 29.15 23.50 23.62 -1.63 -6.5 THLCreditNts21 26.80 23.00 25.33 0.43 1.7
ArborRealtyNts21 26.15 20.81 25.30 0.70 2.9 DigitalRealtyPfI 28.16 24.25 25.06 -0.62 -2.4 IridiumCommPfdB 381.50 253.80 373.53 65.53 21.3 PebblebrookPfdC 27.24 22.81 24.27 -1.02 -4.0 THLCreditNts22 26.49 23.60 25.39 0.45 1.8
ArborRealtyPfdB 25.89 18.24 24.58 2.02 8.9 DillardsCapPfd 27.15 25.12 26.00 -0.88 -3.3 iStarFnl pfE 24.92 17.50 24.25 1.29 5.6 PennantParkNt 26.09 22.30 25.10 0.14 0.6 T-Mobile Pfd 96.91 58.82 94.44 26.73 39.5
ArborRealtyPfdC 26.68 21.76 25.34 0.18 0.7 DiscoverFinPfdB 26.96 24.40 25.68 -0.76 -2.9 iStarPfdI 24.98 17.15 24.00 1.07 4.7 PA Reit Pfd A 26.50 24.80 25.29 -0.52 -2.0 TargaRscsPfdA 28.18 16.64 27.51 7.77 39.4
ArborRealtyPfdA 26.48 21.03 25.07 0.57 2.3 DominionRscsNts76 25.98 20.93 22.20 -2.85 -11.4 iStarPfdG 24.84 16.88 24.15 1.25 5.5 PA Reit Pfd B 26.71 22.46 25.00 -0.65 -2.5 TaubmanCtrsPfdK 26.58 24.00 24.74 -0.73 -2.9
ArchCapitalPfdC 27.65 24.85 25.17 -1.72 -6.4 DriveShackPfdC 27.45 13.75 25.23 3.73 17.3 iStarPfdF 24.99 17.25 24.40 1.30 5.6 PeoplesUtdPfdA 26.50 24.00 25.85 -0.35 -1.3 TaubmanCtrsPfdJ 26.94 24.50 24.60 -0.92 -3.6
ArchCapitalPfdE 25.05 20.20 21.13 -3.79 -15.2 DriveShackPfdD 26.30 14.25 25.48 3.13 14.0 iStarPfdD 25.20 17.50 24.49 0.86 3.6 PeregrinePharmPf 23.98 8.19 19.91 -1.84 -8.5 TeekayLNG PfdA 25.84 22.66 23.48 -1.17 -4.7
ArconicPfd 94.00 79.14 86.00 1.00 1.2 DriveShackPfdB 26.71 14.71 25.66 1.65 6.9 PitneyBowesNt43 27.73 25.11 25.57 -1.39 -5.2 TeekayOffshorePf 21.48 8.02 18.60 3.15 20.4
ArconicPfdB 38.77 22.55 30.15 -3.16 -9.5 DuPont pfA 93.85 77.00
111.00 95.09
87.50 9.50
100.10 3.20
12.2
3.3
J PopularPfd 24.60 19.05 23.99 4.69 24.3 TeekayOffshrPfB 23.09 9.08 20.05 2.93
28.80 23.60 24.35 -0.66
17.1
-2.6
AresCapNts2022 26.33 24.75 25.60 0.30 1.2 DuPont pfB PopularCapPfd 24.42 17.19 22.44 4.94 28.2 Tele&Data Nts
n AresMgmtPfdA 27.58 21.63 25.05 0.40 1.6 DukeEnergyDeb 27.18 23.12 23.93 -1.73 -6.7 JMP Nts2021 26.05 19.15 25.12 0.04 0.2 PowerREIT PfdA 27.00 24.30 25.20 0.30 1.2 Tele&DataNts 26.48 23.61 24.76 -0.50 -2.0
ArgoGroupNts42 27.43 23.18 24.96 -0.49 -1.9 n DupontFabrosPfdC 28.72 24.57 25.39 0.39 1.6 JMP Nts2023 25.87 19.15 25.25 0.40 1.6 PPlus RRD-1 26.20 20.35 21.20 -2.80 -11.7 Tele&DataPfd 27.01 23.54 25.07 -0.07 -0.3
ArlingtonAsstNt23 24.00 16.44 23.30 3.30 16.5 DynagasLNG PfdA 25.91 14.25 25.28 6.38 33.8 JPMorganPfdY 27.94 24.71 25.35 -0.77 -2.9 PPlus CZN-1 32.44 25.08 25.80 0.06 0.2 Tele&DataNts 26.26 22.21 22.44 -2.22 -9.0
ArlingtonAsstNt25 23.60 16.70 22.19 3.02 15.8 DynegyPfdA 76.75 28.50 32.00 -18.67 -36.8 JPMorganPfdT 29.22 25.76 26.87 -0.61 -2.2 PPlus GSC-2 21.32 18.36 19.55 -0.09 -0.5 TVA Parrs 26.20 23.54 24.55 -0.32 -1.3
ArmourResPfdB 23.98 15.50 23.20 2.90 14.3 DynexCapPfdB 25.09 18.90 23.89 2.02 9.2 JPMorganPfdAA 27.89 24.65 25.36 -0.53 -2.0 PrivateBncpDeb 29.03 25.53 26.28 -0.32 -1.2 TVA Bds D 26.46 24.71 24.76 -0.25 -1.0
ArmourResPfdA 24.85 18.47 24.30 1.40 6.1 DynexCapPfdA 25.60 20.62 25.06 1.73 7.4 JPMorganPfdBB 28.14 24.74 25.59 -0.33 -1.3 PrivateBncpPfd 28.59 24.39 26.55 -0.62 -2.3 TerrenoRltyPfA 27.24 24.72 25.25 -0.21 -0.8
AshfordHospPfdB 25.42 17.49 21.54 3.79 21.4 JPMorganPfdW 28.05 25.21 25.96 -0.30 -1.1 ProspectCapNt 25.92 19.00 25.10 1.60 6.8 TexasCapNts 28.76 21.10 25.35 0.36 1.4
AshfordHospPfdG 25.00 21.69 23.14 -1.71 -6.9 E JPMorganPfdP
JPMorganPfdO
26.86 23.90
26.41 23.86
24.65
24.61
-0.59
-0.72
-2.3
-2.8
ProtectiveLifeDb 26.90 24.61 25.19
ProtectiveLifeDeb 26.94 24.42 25.41
-0.71
-0.84
-2.7
-3.2
TexasCapPfd 27.17 20.10 25.08 -0.34
TorchmarkDeb56 27.99 24.03 25.24 0.14
-1.3
0.6
AshfordHospPfdD 26.00 16.07 24.99 -0.20 -0.8
AshfordHospPfdA 26.48 15.17 25.38 0.13 0.5 EPR Prop Pfd 32.25 22.22 28.46 4.46 18.6 PrudentialFinNt53 28.04 24.10 24.74 -1.10 -4.3 TorchmarkDeb52 26.70 24.34 24.88 -0.92 -3.6
n AshfordHospPfdF 26.33 21.61 23.86 -1.27 -5.1 EPRPropPfdE
EPR Prop PfdF
39.02 29.75
27.07 24.61
35.88 4.66
25.13 -0.18
14.9
-0.7
K PrudentialNts
PrudentialNts
27.22 25.12 25.38
27.31 23.87 24.76
-0.13
-1.00
-0.5
-3.9
TravelCtrsNt30
TravelCtrsNt29
25.94 20.76 25.07 0.51
26.15 21.16 25.31 0.52
2.1
2.1
AspenInsPfd 26.17 21.36 22.17 -2.73 -11.0
AspenInsPfd 30.32 24.72 25.31 -0.48 -1.9 EaglePointNts 26.53 21.00 25.70 0.85 3.4 KCAP Nts 25.89 22.43 25.51 0.71 2.9 PrudentialSkis 27.98 25.00 25.47 -1.01 -3.8 TravelCtrsNt28 26.28 22.50 25.27 0.33 1.3
AspenInsPfdA 26.69 23.00 24.99 -0.21 -0.8 EaglePointPfdA 26.80 22.51 25.74 0.35 1.4 KKR Pfd B 27.22 24.16 24.85 -0.15 -0.6 PrudentialPfd 28.06 24.56 25.29 -1.38 -5.2 Tri-Cont Pfd 54.39 47.50 48.49 -1.61 -3.2
AspenInsPfd 26.76 25.16 25.43 -0.85 -3.2 n EaglePointPfdB 26.15 24.75 25.45 0.45 1.8 n KKR Pfd A 27.63 24.13 25.28 0.58 2.3 PublicStoragePfV 27.25 21.91 22.60 -2.86 -11.2 TriangleNts 26.29 22.57 25.45 0.55 2.2
n AssdBancPfdD 25.50 20.55 21.89 -3.13 -12.5 n eBay Nts2056 27.50 24.27 25.94 1.06 4.3 KKR Fin Nts 42 27.95 24.93 25.36 -0.81 -3.1 PublicStoragePfB 27.20 22.07 22.63 -2.37 -9.5 TriangleNts22 26.71 23.00 25.42 -0.08 -0.3
AssdBancPfdC 27.90 24.49 25.25 -0.75 -2.9 ElPasoEngy pfC 53.75 39.09 49.00 8.05 19.7 KKR Fin Pfd A 27.72 24.21 25.96 -0.62 -2.3 PublicStoragePfE 25.00 20.43 21.10 -3.67 -14.8 TriplePtVentNt 25.96 22.95 25.50 0.26 1.0
AssuredGuarNts 26.13 23.03 23.76 -1.15 -4.6 Endurance PfdC 28.60 24.44 25.55 -0.11 -0.4 KSCitySo Pfd 31.10 25.31 28.61 2.66 10.3 PublicStoragePfY 29.23 25.51 26.15 -1.43 -5.2 TsakosEnergyPfdB 25.83 20.50 25.27 1.31 5.5
AssurGrMunNt 27.37 22.80 24.99 -0.45 -1.8 EntergyAR Bds63 26.30 19.35 21.01 -3.65 -14.8 KayneAndersonMLPPf 26.01 24.38 25.32 0.13 0.5 n PublicStoragePfC 27.00 21.01 21.81 -3.20 -12.8 TsakosEnergyPfdD 25.00 14.77 24.42 2.42 11.0
AssuredGuarBds 27.68 25.20 25.54 -0.16 -0.6 EntergyAR Bds 26.30 20.96 21.77 -3.23 -12.9 KemperDeb54 28.60 25.20 26.15 -0.42 -1.6 PublicStoragePfX 26.84 21.91 23.10 -2.05 -8.2 TsakosEnergyPfdC 26.15 18.86 25.37 1.86 7.9
AstoriaFin PfdC 27.62 23.43 25.12 -0.87 -3.3 Entergy1stMtgBd 25.04 20.49 21.17 -3.72 -14.9 KennedyWilsonNts 27.70 24.50 25.62 -0.02 -0.1 PublicStoragePfZ 29.13 24.75 25.31 -1.50 -5.6
EntergyLA Bds52 26.74 22.92 23.49 -2.11 -8.2 KeyCorpPfdA 139.96 127.14 135.00 2.40 1.8 PublicStoragePfD 29.95 20.61 21.20 -3.74 -15.0 U
B EntergyLA Bd 26.15 20.25
EntergyLA Bds66 25.12 20.48
20.61 -3.23
21.13 -3.59
-13.6 n KeyCorpPfdE
-14.5 n KeyCorpPfdC
26.30 23.35
26.41 25.38
26.16
25.49
1.00
-0.62
4.0
-2.4
PublicStoragePfT 26.48 23.47 24.27
PublicStoragePfA 28.85 23.35 24.83
-1.48
-1.62
-5.7
-6.1 UMH PropPfdB 28.40 25.35 26.80 0.31 1.2
BB&T Pfd F 26.47 22.00 22.76 -2.34 -9.3 EntergyMS Bds 25.00 20.57 21.13 -3.67 -14.8 KilroyRealtyPfdG 26.92 25.02 25.35 -0.46 -1.8 PublicStoragePfS 26.15 24.30 24.68 -1.20 -4.6 UMH PropPfdA 26.50 25.05 25.70 -0.02 -0.1
BB&T Pfd G 27.43 22.03 22.80 -2.45 -9.7 EntergyNOLA Bds 28.74 22.11 22.33 -3.01 -11.9 KilroyRealtyPfdH 26.29 24.39 25.03 -0.39 -1.5 PublicStoragePfU 26.95 22.99 23.53 -2.04 -8.0 USA Tech Pfd 23.25 15.05 21.90 6.65 43.6
BB&T Pfd E 27.24 23.05 23.75 -2.36 -9.0 EntergyTX Bds 28.20 24.12 25.15 -1.06 -4.0 KimcoRealtyPfdJ 26.69 22.61 23.38 -1.39 -5.6 PublicStoragePfW 26.64 21.26 23.25 -1.74 -7.0 US BancorpPfdA 904.95 733.00 869.98 75.96 9.6
n BB&T Pfd H 27.50 23.26 24.29 -0.61 -2.4 n EnvisionPfdA-1 137.45 119.38 119.38 -12.62 -9.6 KimcoRealtyPfdI 26.71 24.01 24.35 -1.54 -6.0 QwestNts2053 25.97 21.99 22.69 -2.15 -8.7 US BancorpPfdF 31.43 26.93 28.29 -0.43 -1.5
BB&T Pfd D 27.33 23.79 24.53 -1.89 -7.2 EquityCommonNt42 26.21 22.82 23.88 -0.63 -2.6 KimcoRealtyPfdK 26.85 22.56 23.42 -1.82 -7.2 QwestNts2055 26.84 23.21 23.51 -1.67 -6.6 US BancorpPfdH 25.05 19.16 21.56 -0.28 -1.3
BGCPtrsNts 27.48 23.75 25.70 -1.21 -4.5 EquityCommonPfdD 27.48 23.51 25.58 0.72 2.9 KinderMorganPfdA 51.40 34.68 48.65 8.35 20.7 QwestNts2054 27.85 24.08 24.20 -1.55 -6.0 US BancorpPfdG 27.23 25.17 25.21 -1.61 -6.0
BGECapitalPfdB 27.15 25.04 25.50 -0.50 -1.9 EquityLifestPfd 26.75 23.50 25.15 -0.35 -1.4 QwestNts2052 26.64 24.28 24.70 -0.98 -3.8 US BancorpPfdH 27.65 23.63 24.25 -1.70 -6.6
BOKFinNts2056 26.50 21.25 22.28 -2.70 -10.8 EverBankFinPfA 26.55 23.22 25.21 -0.11 -0.4 L QwestNts2052 27.26 24.37 24.54
Qwest7%Nts2056 27.98 24.25 25.15
-1.44
0.17
-5.5
0.7
USCellularNt63 27.85 24.43 25.41 -0.23
USCellularNts64 27.70 24.37 25.61 0.50
-0.9
2.0
B.RileyNts2021 26.49 23.43 25.62 0.75 3.0
BancofCA PfdC 28.39 24.60 25.82 -0.76 -2.9 F LadenburgThalPf 25.17 20.57 23.94
n LandmarkInfrPfdB 25.89 22.53 24.30
-0.80
-0.70
-3.2
-2.8
QwestNts2051 26.68 24.58 25.05 -0.61 -2.4 USCellularNts60 27.05 24.17 24.99 -0.25
Urstadt Pfd G 28.72 25.25 25.60 -0.54
-1.0
-2.1
n BancofCAPfdE 28.69 23.00 24.87 0.03 0.1
BancofCAPfdD 28.29 23.00 25.38 -0.58 -2.2 FNB PfdE
FPL Group Pfd
33.50 27.01
27.05 24.92
28.27 -0.97
25.16 -0.84
-3.3 n LandmarkInfrPfdA 26.41 24.01 24.85
-3.2 LaSalleHotelPfJ 27.24 23.21 23.27
0.32
-1.77
1.3
-7.1
R Urstadt Pfd F 27.70 24.41 25.50 -0.36 -1.4
BancFst pf 29.93 26.25 27.22 0.51 1.9
BancoBradescoPf 10.49 3.65 8.71 4.34 99.2 FedAgricMtgPfdB 29.50 24.71 26.05 -0.95 -3.5 LaSalleHotelPfI 26.93 22.84 24.09 -1.38 -5.4 RAIT FinNt19 25.00 15.52 24.43 2.71 12.5 V
n BancroftFdPfdA 25.90 22.92 23.64 -0.96 -3.9 FedAgricMtgPfdC 30.60 24.63 25.07 -1.08 -4.1 LaSalleHotelPfH 26.11 24.55 25.05 -0.10 -0.4 RAIT FinNt 23.80 13.75 23.23 3.83 19.7
BankofAmPfdL 1269.47 1064.00 1166.80 73.53 6.7 FedAgricMtgPfdA 27.97 24.92 24.97 -0.43 -1.7 LegacyResPfdA 8.66 1.27 7.88 1.48 23.1 RAIT Fin PfdA 22.00 11.01 20.28 2.13 11.7 VEREIT Pfd F 27.42 23.27 25.29 0.69 2.8
BankofAmPfdY 28.60 24.72 25.52 -1.20 -4.5 FelcorPfdA 25.65 22.82 24.91 -0.24 -1.0 LegacyResPfdB 8.64 1.25 7.94 1.72 27.7 RAIT Fin PfdB 23.25 11.03 21.26 2.28 12.0 ValePfdA 8.30 1.55 6.89 4.34 170.2
BankofAmPfdD 26.23 21.44 25.09 -0.74 -2.9 FifthStNts24 26.01 22.98 24.88 1.12 4.7 LeggMasonNts56 27.87 23.51 25.11 0.01 ... RAIT Fin PfdC 23.91 11.47 22.55 2.85 14.5 n ValidusHldgsPfdA 25.99 21.50 22.52 -2.33 -9.4
BankofAmPfdI 27.46 25.10 25.32 -1.44 -5.4 FifthStNts28 26.50 22.65 24.65 0.88 3.7 LeggMasonNts 25.38 20.81 21.61 -3.29 -13.2 RadiantLogPfdA 26.65 20.45 25.91 0.02 0.1 ValleyNatlPfdA 30.85 24.86 25.90 -1.50 -5.5
BankAm pfE 26.68 20.48 21.83 -0.56 -2.5 FifthThirdBncPfI 32.71 26.06 27.25 -1.65 -5.7 CBTCS 04-6 25.17 20.44 22.05 -2.89 -11.6 Ramco-GershenPfd 72.57 57.90 61.28 0.13 0.2 VanguardNatPfdA 12.90 1.51 3.01 -7.68 -71.8
BankofAmPfdCC 27.24 24.08 25.24 0.52 2.1 FirstHorizonPfdA 27.70 23.38 24.94 -0.43 -1.7 CBTCS 02-6 12.19 10.19 10.53 0.01 0.1 RaymondJamesNt42 27.28 25.18 25.39 -1.27 -4.8 VanguardNatPfdB 9.67 1.50 2.70 -6.45 -70.5
BankofAmPfdW 28.10 24.76 25.71 -1.03 -3.9 n FirstInternetNts 25.00 22.22 24.90 0.17 0.7 CBTCS 01-31 8.70 3.89 8.40 3.94 88.3 n RayonierAdvPfdA 120.88 85.25 115.87 16.81 17.0 VanguardNatPfdC 9.77 1.50 2.65 -6.87 -72.2
BankAmer PfdEE 27.10 24.18 24.90 ... ... FirstRepublicPfE 28.45 26.23 27.21 -0.60 -2.2 LexingtonRltyPfC 53.85 46.02 49.90 2.40 5.1 RealtyIncomePfd 26.83 24.97 25.15 -1.34 -5.1 VentasRealtyNts43 28.30 23.27 24.01 -2.10 -8.0
BankofAmPfd1 23.30 15.87 19.99 1.67 9.1 FirstRepBkPfdA 26.49 25.08 25.10 -0.88 -3.4 RegencyCtrsPfd6 26.95 24.42 25.10 -1.22 -4.6 VerizonNts54 28.47 25.22 26.09 -1.53 -5.5
BankofAmPfd2 24.22 15.74 19.89 1.55 8.5 FirstRepBkPfdB 27.25 24.74
FirstRepBkPfdF 28.00 22.67
25.55 -0.64
23.70 -1.80
-2.4
-7.1
M RegencyCtrsPfd7 27.13 23.37 24.24
RegionsFinPfdB 30.10 24.15 26.53
-0.89
-0.60
-3.5
-2.2
VornadoPfdL
VornadoPfdK
26.46 21.46 22.45
26.98 22.51 23.56
-1.88
-1.70
-7.7
-6.7
BankofAmPfd3 26.37 24.27 25.04 -0.63 -2.4
BankofAmPfd4 24.87 19.44 23.77 2.13 9.9 n FirstRepBkPfdG 27.93 21.85 22.75 -2.00 -8.1 M&TBankPfdA 1095.55 950.00 1095.55 80.55 7.9 RegionsFinPfdA 27.23 24.46 25.16 -1.20 -4.6 VornadoPfdG 26.34 24.98 25.17 -0.28 -1.1
BA DepShPfL 24.50 19.50 22.65 1.17 5.4 FirstRepublicPfC 27.43 22.36 23.25 -2.13 -8.4 M&TBankPfdC 1215.01 1015.01 1057.50 27.50 2.7 ReinsuranceGrpDeb 29.52 24.30 26.28 -0.32 -1.2 VornadoPfdI 26.45 24.89 25.06 -0.40 -1.6
BNYMellonPfdC 27.41 22.74 23.00 -2.82 -10.9 FirstRepublicPfdD 27.20 21.92 22.99 -2.13 -8.5 MBFinancialPfdA 27.97 26.02 26.91 0.08 0.3 ReinsuranceGrpDeb 31.23 25.69 26.98 -2.06 -7.1
BarclaysBkPfdA 26.27 22.54 25.38 -0.59 -2.3 FiveOaksInvPfdA 24.25 11.00
FrontierCommPfA 108.58 67.54
23.00 5.40
71.08 -20.50
30.7
-22.4
MFAFinPfdB 26.09 21.75 24.23 0.28 1.2 RenaissancePfdC 26.37 24.45 25.10
RenaissancePfdE 27.39 21.96 22.49
-0.60
-2.45
-2.3
-9.8
W
BarclaysBkPfd5 26.89 23.75 25.54 -0.99 -3.7 MFAFinNts2042 27.87 23.44 25.70 -0.07 -0.3
BeldenPfdB 113.31 90.00 105.67 1.29 1.2 MI Homes pfA 26.25 24.03 25.55 0.12 0.5 ResourceCapPfdC 23.75 11.66 23.00 4.71 25.8 WPX Energy Pfd 71.83 16.51 65.67 34.24 108.9
BlueknightEnPtrsA 8.75 5.71 7.90 1.13 16.7 G MTGEInvPfdA 26.24 22.01 24.97
MVC Capital Nts 26.00 23.50 25.19
0.39
0.59
1.6
2.4
ResourceCapPfdA 24.50 13.07 24.32
ResourceCapPfdB 23.45 12.00 22.45
6.28
5.27
34.8
30.7
WRBerkleyDeb53 26.73 21.82 22.61
WRBerkleyDeb2056 26.39 21.54 22.88
-2.81
-1.99
-11.1
-8.0
n BluerockResPfD 27.73 21.85 23.29 -1.33 -5.4
BluerockResPfdA 27.58 24.19 26.05 0.75 3.0 GAMCOGlbGoldPfB 25.59 21.67 23.10 0.25 1.1 MaidenNts46 28.60 24.34 25.33 0.50 2.0 RetailPropPfdA 27.50 22.77 25.00 -0.65 -2.5 n WRBerkleyDeb56 27.28 21.72 23.99 -0.86 -3.5
BluerockREITPfdC 28.06 24.05 25.37 -0.13 -0.5 GATX Nts 27.19 21.55 23.26 -1.59 -6.4 MaidenHldgsPfdC 27.08 22.40 25.82 0.65 2.6 n RexfordIndlPfdA 26.19 21.60 22.55 -2.45 -9.8 WSFS FinNts 28.30 25.31 25.40 -1.35 -5.0
n BofiNts26 26.50 21.80 25.00 0.43 1.7 GDL Fund Pfd 51.01 50.20 50.37 0.11 0.2 MaidenNts43 27.80 24.51 27.00 0.04 0.1 n RexnordPfdA 51.37 48.00 49.01 -0.59 -1.2 WashingtonPrmPfI 26.68 23.50 24.80 -0.28 -1.1
BostonPrivPfdD 28.71 23.52 25.09 -1.05 -4.0 GMACCapTrSer2 25.99 22.77 25.40 0.04 0.2 MaidenHldgsPfdA 27.13 25.00 25.84 -0.51 -1.9 RoyalBkCanadaPf 28.64 24.94 25.20 -0.18 -0.7 WashingtonPrmPfH 26.45 24.04 25.58 0.08 0.3
BostonPropPfdB 27.17 22.63 24.04 -1.18 -4.7 GabelliConv pfB 28.17 25.40 25.59 -1.27 -4.7 MaidenHldgsNts 26.83 24.83 25.40 -0.93 -3.5 RoyalBkCanadaPf 34.50 26.80 27.67 -1.63 -5.6 WebsterPfdE 26.90 24.90 25.25 -0.60 -2.3
BrandywineRltyPfE 26.89 25.20 25.22 -1.54 -5.8 GabelliDivPfdA 26.98 25.02 25.66 -0.44 -1.7 MainStreetCapNt 26.93 24.86 25.72 0.45 1.8 RylBkScot pfS 25.88 21.87 25.05 -0.35 -1.4 WellsFargoPfdN 26.49 22.61 23.12 -2.26 -8.9
BrookfieldDTLAPf 22.30 17.32 22.09 2.86 14.9 GabelliDivPfdD 27.48 25.37 25.80 -0.40 -1.5 MechelPfd 1.15 0.18 1.12 0.86 330.8 RylBkScot pfF 27.53 23.45 25.84 ... ... WellsFargoPfdP 26.94 22.58 22.89 -2.94 -11.4
GabelliDivPfdG 27.29 22.61 23.48 -1.57 -6.3 MedallionFinNts 28.40 13.20 18.47 -6.52 -26.1 RylBkScot pfH 26.19 22.59 25.30 -0.53 -2.1 WellsFargoPfdW 27.24 22.84 23.66 -1.24 -5.0
C GabelliEqPfdJ
GabelliEqPfdD
27.00 23.31
27.09 25.05
23.97
25.53
-0.93
-0.48
-3.7
-1.8
MedTransPfdA 40.03 23.46 25.48
MedleyCapNts23 26.24 20.15 25.01
0.63
0.77
2.5
3.2
RylBkScot pfL 25.85 21.00 23.80 -1.16 -4.7 WellsFargoPfdQ 28.88 23.58 25.24
WellsFargoPfdT 27.89 24.72 25.08
-0.88
-1.66
-3.4
-6.2
CBL AssocPfdD 25.60 21.09 24.45 -0.84 -3.3 GabelliEqPfdG 25.79 22.17
25.82 22.19
22.93
22.85
-1.26
-2.20
-5.2
-8.8
MedleyCapNts21 26.25 21.97 25.59
MedleyCapNts19 25.90 23.05 25.38
0.94
0.21
3.8
0.8
S WellsFargoPfdA 32.54 26.45 27.10
WellsFargoPfdV 28.33 24.39 25.07
-1.63
-1.18
-5.7
-4.5
CBL AssocPfdE 26.50 19.86 22.97 -1.98 -7.9 GabelliEqPfdH
CHS PfdB 31.88 26.06 28.26 -0.54 -1.9 n GabelliGlSMidPfdA 26.23 23.41 23.94 -1.10 -4.4 MedleyNts26 24.84 22.93 24.07 -0.09 -0.4 SB Financial PfA 16.83 11.00 15.85 3.20 25.3 n WellsFargoPfdA 27.00 22.16 22.91 -2.17 -8.7
CHS Pfd 34.85 28.60 29.27 -1.68 -5.4 Gabelli6%CumPfdA 52.25 50.70 50.85 -0.27 -0.5 MerLynCapTr I 27.00 24.21 25.12 -0.30 -1.2 SCE III Pfd 31.75 24.42 25.47 -1.28 -4.8 WellsFargoPfdO 26.48 22.49 23.00 -2.25 -8.9
CHS PFdB2 31.58 24.55 26.51 -0.76 -2.8 n GabelliGoAnyPfdA 55.50 43.00 51.84 7.84 17.8 MLCapTrstPfd 27.75 24.05 25.71 -0.23 -0.9 SCE II Pfd 26.63 20.89 22.16 -2.40 -9.8 WellsFargoPfdL 1381.10 1145.00 1190.00 30.90 2.7
CHS PfdB4 31.34 25.36 27.14 0.09 0.3 GabelliHlthPfdA 26.92 25.00 25.22 -0.74 -2.8 IndxPlus 03-1 29.80 25.73 26.44 -0.46 -1.7 SCE IV Pfd 29.90 23.42 24.68 -2.48 -9.1 WellsFargoPfdJ 28.43 26.22 26.43 -1.65 -5.9
CHS PfdB3 29.78 24.16 26.28 -0.53 -2.0 GabelliHlthPfdB 28.21 25.04 25.37 -1.48 -5.5 Metlife pfA 25.96 22.76 23.28 -1.77 -7.1 n SCE V Pfd 30.81 24.57 25.26 -0.24 -0.9 WellsFargoPfdA 28.50 24.48 25.17 -0.99 -3.8
CYSInvPfdB 24.72 21.04 22.70 0.73 3.3 GabelliMultimedia 27.47 25.18 25.45 -1.35 -5.0 n MidAmerAptPfdI 66.80 60.55 63.60 -1.70 -2.6 SLGreenRealtyPfd 27.53 24.81 24.94 -0.52 -2.0 WelltowerPfdI 71.19 51.36 60.18 -0.62 -1.0
CYSInvPfdA 25.65 21.42 23.75 0.95 4.2 GabelliUtilPfdA 26.65 24.41 25.19 -0.67 -2.6 MS PowerPfdD 27.90 25.17 26.10 -0.39 -1.5 SLM Nts2043 24.92 12.54 22.17 5.67 34.4 WelltowerPfdJ 26.86 24.75 25.14 -0.72 -2.8
Cabco GS GYB 23.30 18.95 20.70 -0.10 -0.5 GabelliUtilPfdC 26.31 23.09 23.78 -1.27 -5.1 MitchamIndsPfdA 24.99 22.21 22.98 -1.51 -6.2 SLM PfdA 51.75 40.62 51.00 7.95 18.5 WesternAllianDeb 26.94 22.13 23.96 -1.02 -4.1
CABCO SBC Comm 25.85 20.03 20.96 -1.54 -6.8 GasLogPfdA 26.99 12.02 25.12 5.22 26.2 n MonmouthRE PfdC 26.50 23.00 23.59 -1.47 -5.9 SLM Nts2018 27.62 20.46 25.25 3.03 13.6 WheelerREITPfdB 23.14 16.52 22.15 -1.10 -4.7
Cabco JCP PFH 21.20 15.70 19.88 3.58 22.0 GastarExplnPfdA 18.60 2.17 18.15 8.23 83.0 MonmouthRE PfdB 27.25 25.34 25.63 -0.35 -1.3 SLM Nts2017 25.13 22.95 25.03 1.43 6.1 WheelerREITPfdD 30.00 23.01 23.50 -1.50 -6.0
CallonPetrolPfd 53.97 22.51 52.68 10.87 26.0 GastarExplnPfdB 20.70 2.83 19.36 8.01 70.6 MorganStanleyPfd1 28.72 23.79 25.73 -0.84 -3.2 SLM Pfd B 57.00 36.00 56.30 16.15 40.2 WhiteHorseNts 26.22 20.62 25.38 0.37 1.5
CapitalOnePfdG 25.89 21.02 21.68 -3.34 -13.3 GenAmInv pfB 28.12 25.43 25.77 -0.98 -3.7 MSNonCum pfd A 24.40 18.55 23.00 2.21 10.6 STAGIndlPfdB 26.70 24.24 24.95 -0.39 -1.5 WillametteVallPfA 6.00 4.15 5.15 0.65 14.4
CapitalOnePfdC 27.89 24.04 25.11 -1.34 -5.1 GeneralElcCapNts 27.14 23.20 24.56 -0.91 -3.6 MorganStanleyPfdE 30.78 25.85 28.13 -0.50 -1.7 n STAGIndlPfdC 28.14 24.76 25.66 0.88 3.6 WintrustFinPfd 30.61 24.86 25.87 -0.72 -2.7
CapitalOnePfdD 29.33 25.03 25.96 -1.59 -5.8 GeneralElcCapNt52 27.04 24.13 24.59 -1.09 -4.2 MorganStanDepPfdF 30.17 25.37 27.04 -0.74 -2.7 SabraPfdA 27.57 23.28 25.15 -0.10 -0.4
CapitalOnePfdH 25.00 24.05 24.90 0.02 0.1 GE4.875%Nt1/29/53 27.60 23.98
GeneralFin9%PfdC 97.85 58.82
24.55
91.55
-1.13
18.56
-4.4
25.4
MorganStanleyPfdG 28.23 25.01 25.54 -1.41 -5.2 SafeBulkersPfdC 16.37 6.53 13.86
SafeBulkersPfdB 24.50 18.75 24.15
5.09
4.21
58.1
21.1
XYZ
CapitalOnePfdB 26.58 23.63 24.51 -1.40 -5.4
CapitalOnePfdF 28.26 23.92 25.06 -1.23 -4.7 GeneralFinSrNt21 25.48 18.50
GeneralGrwthPfd 27.55 22.10
24.23
24.81
1.85
-0.16
8.3
-0.6
N SafeBulkersPfdD 16.56 6.18 13.52
26.24 23.30 25.04
4.77
-0.31
54.5
-1.2
ZionsBancorpNts 31.99 26.19 27.88
ZionsBancorpPfdH 26.41 23.30 24.05
-0.88
-0.82
-3.1
-3.3
CapitalaFinNts21 26.11 23.06 25.54 0.59 2.4 SantdrFin pf
CapsteadMtgPfdE 25.85 22.06 24.04 0.29 1.2 GenieEnergyPfd 8.01 6.80 7.46 -0.09 -1.2 NatlGeneralPfdA 26.40 24.18 25.08 -0.66 -2.6 SantndrFinPfd4 26.40 22.81 25.39 -0.30 -1.2 ZionsBancorpPfdF 27.33 25.53 25.64 -1.14 -4.2
CedarRealty Pfd 27.25 23.81 24.35 -0.35 -1.4 GA Pwr pfA 32.00 25.10 25.59 -3.85 -13.1 NatlGeneralPfdC 26.49 24.12 24.99 -0.01 ... SantndrFinPfd6 24.48 17.17 23.79 1.02 4.5 ZionsBancorpPfdG 33.00 24.44 26.69 0.56 2.1
CentraisElBrasPf 9.27 1.89 7.88 5.30 205.4 GladstoneCapPfd 26.05 20.14 25.49 1.14 4.7 NatlGeneralPfdB 26.96 23.91 24.81 -0.47 -1.9 SantndrFinPfd5 26.73 23.10 25.09 -0.46 -1.8 ZionsBncpPfdA 25.99 20.50 23.23 1.24 5.7

Net Pct Stock
Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg Stock Sym Hi Lo Last Chg Chg
Stock Sym Hi Lo Last Chg Chg VanguardFTSEEurope VGK 50.70 42.73 47.94 -1.94 -3.9 VanguardTotIntlBd BNDX 56.31 52.85 54.29 1.41 2.7 n WearETF WEAR 15.84 14.64 15.09 ... ... WisdomTreeGlHdgSC HGSD 24.29 17.60 24.00 3.15 15.1
VanguardFTSEPac VPL 61.47 48.66 58.12 1.45 2.6 VanguardTtlIntlStk VXUS 48.22 39.32 45.88 0.77 1.7 WeatherStorm FLAG 42.00 26.73 37.69 7.22 23.7 WisdomTreeGlbHiDiv DEW 44.41 34.85 43.46 4.09 10.4
VanEckVctrGlblSpin SPUN 22.04 14.53 21.13 3.45 19.5 VanguardFinls VFH 60.67 40.09 59.35 10.90 22.5 VanguardTotStk VTI 117.79 91.58 115.32 11.02 10.6 WilshireMicroCap WMCR 30.76 21.24 29.75 4.24 16.6 WisdomTreeGlbRlRtn RRF 41.92 37.13 39.64 1.16 3.0
VanEckGoldMiner GDX 31.79 12.40 20.92 7.20 52.5 VanguardAWxUS VEU 46.48 37.80 44.18 0.77 1.8 VangdTotlWrld VT 62.61 50.34 61.00 3.38 5.9 Wlshr US REIT WREI 52.34 40.48 46.92 0.75 1.6 WisdomTreeGlbSC GSD 30.13 21.57 29.50 4.88 19.8
VanEckHiIncmInfra YMLI 15.94 8.40 15.74 3.12 24.7 VanguardGlbl RE VNQI 57.58 45.13 49.57 -1.53 -3.0 VanguardUtilities VPU 115.81 91.58 107.01 13.08 13.9 WMELocalDebt ELD 38.95 32.76 35.77 1.49 4.3 WisdomTreeHiDivFd DHS 68.62 53.55 67.30 8.21 13.9
VanEckHiIncMLP YMLP 26.48 15.45 26.17 2.77 11.8 VanguardGrwth VUG 113.93 92.47 111.48 5.09 4.8 VanguardValue VTV 94.93 72.48 93.01 11.49 14.1 WisdTreeMngdFutStr WDTI 43.27 40.73 41.46 -0.33 -0.8 WisdmTrIndEarn EPI 22.38 16.55 20.20 0.34 1.7
VanEckVctrHYMuni HYD 32.42 28.33 29.68 -1.20 -3.9 VanguardHlthCr VHT 138.99 113.02 126.77 -6.11 -4.6 VelocityShares3xIn DGAZ 32.28 2.70 3.03 -9.49 -75.8 WTAsiaLocalDebt ALD 46.30 41.98 42.61 -0.37 -0.9 WisTreeIndianRupee ICN 22.17 19.45 21.55 0.58 2.8
VanEckVctrIndiaSC SCIF 49.05 31.67 40.77 -2.50 -5.8 VanguardHiDiv VYM 77.24 60.22 75.77 9.02 13.5 VelocityShares3xLg UGAZ 74.00 16.75 46.19 -14.81 -24.3 WisTrexJpFd AXJL 62.32 47.64 57.35 2.76 5.1 WTIntRtHdgHYBd HYZD 26.10 19.87 23.88 1.96 9.0
VanEckIndonesia IDX 24.10 17.35 21.23 2.82 15.3 VangdMdCpGr VOT 108.51 84.17 105.67 5.96 6.0 Velocity3xLgSilver USLV 29.09 9.55 11.43 1.62 16.5 WT Aus & New Zeal AUNZ 19.10 16.03 17.07 0.13 0.8 WisdmTrIntDiv DOO 40.14 33.84 37.37 -0.67 -1.8
VanEckIntlHYBd IHY 25.00 21.80 23.82 1.32 5.9 VanguardIndls VIS 122.69 88.23 119.26 18.23 18.0 VS2xVIXMedTerm TVIZ 21.00 7.04 7.51 -5.81 -43.6 WisTrAusDiv AUSE 54.00 37.94 51.45 6.84 15.3 WisdomTreeIntlEqty DWM 48.21 41.12 46.40 -0.19 -0.4
VanEckInvtGrFR FLTR 25.03 24.32 25.00 0.33 1.3 VanguardIntrm BIV 88.58 82.17 83.07 0.01 ... VS2xVIXShortTerm TVIX 339.50 8.18 9.52-146.98 -93.9 WTBarclaysUSAggBd AGZD 48.34 46.64 48.28 0.18 0.4 WisdomTreeIntlHdg HDWM 25.35 20.63 25.24 1.19 4.9
VanEckVctrIsrael ISRA 28.81 24.94 26.82 -1.94 -6.8 VangIntrCorpBd VCIT 90.14 83.76 85.70 1.61 1.9 VSInvVIXMedTerm ZIV 48.29 31.71 46.54 5.23 12.7 WTBarclaysNegUSBd AGND 44.62 41.42 44.36 0.19 0.4 WisTreeIntlHdgQlty IHDG 26.85 23.26 26.35 -0.08 -0.3
VanEckVctJPMEMLCBd EMLC 19.40 16.29 17.60 0.60 3.5 VangIntrmGvtBd VGIT 67.45 63.42 63.92 -0.52 -0.8 VSInverseVIXSTerm XIV 50.73 15.36 46.75 20.95 81.2 WisdomTreeUSAggBd AGGY 53.41 49.01 49.58 0.58 1.2 WisdomTrIntHdSCDiv HDLS 24.63 20.46 24.51 1.39 6.0
VanEckVctrJrGold GDXJ 52.50 16.87 31.55 12.34 64.2 n VanguardIntlDivApp VIGI 58.36 51.46 52.79 0.92 1.8 n Velocity3xInvCrude DWT 25.41 21.00 21.96 -2.14 -8.9 WisdmTrBloomFR USFR 25.02 24.70 25.00 0.15 0.6 WisdomTreeIntlHi DTH 39.26 33.21 38.11 0.37 1.0
VanEckMornIntlMoat MOTI 29.00 23.99 27.78 0.86 3.2 n VanguardIntlHiDiv VYMI 58.10 49.75 56.63 4.73 9.1 n Velocity3xLgCrude UWT 29.49 24.10 27.67 1.69 6.5 WisdomTreeUSDBull USDU 28.53 25.61 27.97 0.61 2.2 WisdmTrIntLgCp DOL 44.24 37.97 42.82 -0.34 -0.8
VanEckMornWideMoat MOAT 35.94 25.96 34.83 5.92 20.5 VanguardLC VV 104.53 82.59 102.37 8.87 9.5 VSVIXMedTerm VIIZ 19.15 11.72 12.11 -3.33 -21.5 WisdomTreeBrazil BZF 17.77 12.09 17.04 4.44 35.2 WisdmTrIntMdCp DIM 57.72 48.60 55.37 -0.13 -0.2
VanEckVctrMtgREIT MORT 22.93 16.15 21.87 2.34 12.0 VanguardLtBd BLV 101.24 86.81 89.13 2.32 2.7 VSVIXShortTerm VIIX 41.69 7.99 8.62 -18.50 -68.2 WisdomTrCBOES&P500 PUTW 27.90 24.87 27.33 2.19 8.7 n WisdomTreeIntQual IQDG 26.32 23.20 23.93 -0.80 -3.2
VanEckVctrNatRscs HAP 33.91 22.48 32.36 6.02 22.9 VangLongCrpBd VCLT 97.64 82.89 89.35 5.17 6.1 VelocityShVIXShrt XIVH 37.80 24.97 35.28 10.23 40.8 WTChinaexStateOwn CXSE 54.37 38.68 48.31 -0.73 -1.5 WisdmTrIntSmCp DLS 62.19 51.10 60.02 1.92 3.3
VanEckOilRefin CRAK 22.41 17.01 20.84 1.10 5.6 VangLongGvtBd VGLT 87.92 72.21 73.69 -0.93 -1.2 VelocityShVIXTail BSWN 26.08 22.53 22.65 -2.40 -9.6 WisTreeChineseYuan CYB 25.21 22.89 23.26 -1.05 -4.3 WisTreeJpnCapGds DXJC 25.27 17.63 24.39 -0.31 -1.3
VanEckVctrOilSvcs OIH 36.35 20.46 33.35 6.90 26.1 VanguardMegaCap MGC 77.90 61.97 76.34 6.58 9.4 VelocityShVIXVarLS LSVX 29.59 24.95 26.75 1.80 7.2 WisdomTreeContin GCC 20.80 17.28 19.33 0.81 4.4 WisdomTreeJpnHdg JHDG 25.24 19.87 24.32 -0.22 -0.9
VanEckVectorsPharm PPH 64.78 50.35 52.51 -12.80 -19.6 VanguardMegaCapGrw MGK 89.01 72.65 87.11 4.07 4.9 VictoryCEMPDevEnh CIZ 31.82 26.07 28.48 -2.87 -9.2 WisdmTrDiv DTN 82.32 62.82 80.32 10.03 14.3 WisdomTreeJapanHdg DXJ 51.81 37.05 49.54 -0.54 -1.1
VanEckVctrPoland PLND 15.29 11.49 13.41 0.11 0.8 VanguardMegaVal MGV 68.32 52.71 67.09 8.06 13.7 VictoryCEMPEMVol CEZ 27.52 23.90 24.43 -0.58 -2.3 WisdomTrDynBearUS DYB 27.46 23.37 24.93 0.47 1.9 WisTreeJpnFinls DXJF 25.82 15.65 23.99 -2.02 -7.8
VanEckPreRefundMun PRB 25.38 24.12 24.19 -0.35 -1.4 VanguardMC VO 135.55 102.85 131.63 11.52 9.6 VictoryCEMPItlHiDv CID 33.65 28.75 31.39 -0.86 -2.7 n WisdomDyCurrHdgEur DDEZ 26.07 21.77 26.05 1.70 7.0 WisTreeJpnHlthCare DXJH 35.00 28.76 32.04 -2.65 -7.6
VanEckPfdSecsxFin PFXF 21.77 18.33 19.31 0.16 0.8 VanguardMCVal VOE 100.52 74.16 97.19 11.24 13.1 VictoryCEMPIntlVol CIL 35.15 29.27 32.59 -1.12 -3.3 n WisdomDynCurrIntl DDWM 26.76 22.19 26.44 2.27 9.4 WisTreeJpnRealEst DXJR 27.23 13.75 13.81 -12.32 -47.1
VanEckRareEarth REMX 18.42 11.07 17.01 3.60 26.8 VanguardMBS VMBS 54.01 51.88 52.29 -0.43 -0.8 VictoryCEMPUSDiscv CSF 41.72 29.98 40.60 6.05 17.5 WisdomTreeDynCurr DHDG 20.32 19.72 20.30 0.46 2.3 WisTreeJapHdgSmCap DXJS 37.28 27.26 36.20 2.19 6.4
VanEckVctrRetail RTH 82.00 66.92 75.80 -1.92 -2.5 VanguardReit VNQ 92.92 70.89 82.53 2.80 3.5 VictoryCEMPUSEQInc CDC 41.97 32.27 41.31 5.80 16.3 n WisdomDynCurrIntSC DDLS 26.99 23.52 26.87 2.52 10.3 WisTreeJpnTchMedia DXJT 27.55 20.44 26.74 0.34 1.3
VanEckVctrRussia RSX 21.99 11.81 21.22 6.57 44.8 VanguardRuss1000 VONE 104.82 82.53 102.61 8.98 9.6 VictoryCEMPUS500 CFO 41.42 31.69 40.30 4.54 12.7 n WisdomDynCurrJapan DDJP 26.93 21.13 26.41 1.91 7.8 WisTreeJapQltyDiv JDG 25.22 21.70 24.15 0.62 2.6
VanEckRussiaSC RSXJ 39.87 15.97 38.09 18.99 99.4 VangrdRuss1000Grw VONG 109.71 89.64 107.53 5.53 5.4 VictoryCEMPUS500 CFA 41.35 31.75 40.33 4.53 12.7 WisdomTreeDynLSUS DYLS 28.32 24.58 27.43 2.30 9.2 WisdomTreeJpnSC DFJ 64.04 48.90 61.92 5.36 9.5
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VanEckShHYMuni SHYD 25.50 23.03 23.79 -0.74 -3.0 VanguardRuss3000 VTHR 105.25 82.00 103.25 9.65 10.3 VictoryCEMPUSSmCp CSB 42.59 29.66 41.47 8.56 26.0 WTEMCnsmrGrowth EMCG 23.51 16.66 20.14 0.81 4.2 WisdmTrLrgCapVal EZY 69.25 54.83 67.63 3.93 6.2
VanEckVectorsSolar KWT 62.77 33.65 34.51 -26.87 -43.8 VanguardRuss2000 VTWO 111.26 74.99 107.97 17.76 19.7 VictoryCEMPUSSmCp CSA 42.42 28.71 41.56 8.62 26.2 WisdomTreeEmgMkCrp EMCB 71.91 63.50 69.57 3.99 6.1 WisdomTrMEDiv GULF 17.61 14.24 16.69 0.04 0.2
VanEckVectorsSteel SLX 43.89 15.30 37.79 18.29 93.8 VangrdRss2000Grwth VTWG 115.63 81.00 111.59 9.53 9.3 VidentCoreUSBdStr VBND 52.14 48.29 48.67 -0.44 -0.9 n WisdomTreeEMDivFd DVEM 28.22 24.15 26.78 1.54 6.1 WTNegDurHYBd HYND 23.28 17.33 21.50 2.11 10.9
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VanEckUnOil&Gas FRAK 19.94 9.90 18.23 4.95 37.3 VanguardS&P500 VOO 209.70 165.96 205.31 18.38 9.8 VidentIntlEquityFd VIDI 22.22 18.03 21.48 1.40 7.0 WisdomTreeEMHiDiv DEM 39.43 27.15 37.34 5.70 18.0 WisdomTrStratCpBd CRDT 76.40 69.72 73.28 1.74 2.4
VanEckVctrUranium NLR 51.10 42.34 47.45 2.38 5.3 Vanguard 500Grow VOOG 111.58 91.38 109.23 5.45 5.3 n VirtusNewDynCredit BLHY 26.98 23.01 25.01 0.01 ... WTEMQltyDivGrwth DGRE 23.90 17.01 21.11 1.75 9.0 WisdomTreeStDollar EMSD 26.64 21.69 23.67 0.05 0.2
VanEckVctrVietnam VNM 15.72 12.39 13.04 -1.75 -11.8 Vanguard 500ValETF VOOV 99.72 75.55 97.59 12.34 14.5 VS3XInvrsGold DGLD 91.49 39.17 64.59 -30.25 -31.9 WisdmTrEmMktFd DGS 43.20 30.63 39.11 4.05 11.6 WTStrongDollarUS USSD 28.09 22.11 27.09 2.74 11.3
VangdCnsmrDiscr VCR 133.48 105.14 128.67 6.12 5.0 VanguardS&PMC400 IVOO 114.52 81.53 111.31 17.48 18.6 VS 3X INV SILVER DSLV 72.13 16.93 32.07 -39.62 -55.3 WisdomTreeEurope HEDJ 57.62 45.83 57.40 3.59 6.7 WisdmEarn500 EPS 78.96 61.33 77.26 7.90 11.4
VangdCnsmrStpls VDC 143.71 120.33 133.99 4.92 3.8 Vanguard MC400Gr IVOG 115.12 86.38 112.02 13.05 13.2 VS 3X GOLD UGLD 15.06 7.57 8.36 0.99 13.4 WisdomTreeEurHdgSC EUSC 26.03 20.57 25.83 1.27 5.2 WisdmTrLgCp DLN 81.05 63.88 79.90 8.76 12.3
VangdExtMkt VXF 98.66 69.63 95.90 12.10 14.4 Vanguard MC400Vl IVOV 114.95 76.29 110.19 21.79 24.6 WBIPwrFactorHiDiv WBIY 25.05 24.61 24.65 -0.35 -1.4 WisdomTreeEurLocal EZR 24.45 20.05 23.27 -1.08 -4.4 WisdmTrMdCp DON 96.98 71.23 94.38 13.87 17.2
VanguardInfoTech VGT 124.50 92.95 121.50 13.21 12.2 VanguardS&PSC600 VIOO 128.59 85.87 124.51 25.36 25.6 WBITacticalHiIncm WBIH 24.03 22.90 23.80 0.48 2.1 WisTreeEurQltyDiv EUDG 23.00 19.81 21.14 -1.36 -6.0 WisdmTrMCEarn EZM 106.25 74.94 102.67 15.53 17.8
VangdMatrls VAW 117.44 79.00 112.44 18.25 19.4 Vanguard SC600Gr VIOG 131.54 91.34 128.40 21.54 20.2 WBITacticalIncome WBII 25.60 21.36 24.80 0.29 1.2 WisdomTreeEurSC DFE 59.61 47.40 54.62 -1.38 -2.5 WisdmTrSCEarn EES 100.17 63.28 97.63 21.83 28.8
VanguardSCGrwth VBK 138.23 99.54 133.14 11.70 9.6 Vanguard SC600Vl VIOV 125.02 80.24 120.45 26.61 28.4 WBITacticalLCG WBIE 23.06 20.16 22.34 -0.77 -3.3 WisdomTreeCpBdFd WFIG 50.89 47.95 48.08 -1.97 -3.9 WisdmTrTotDiv DTD 82.51 64.05 81.25 9.59 13.4
VanguardSCVal VBR 124.50 84.84 121.00 22.23 22.5 VanguardSTBd BSV 81.14 79.17 79.45 -0.12 -0.2 WBITacticalLCS WBIL 23.78 20.58 23.20 0.72 3.2 WisdomTreeUSHYCpBd WFHY 51.80 49.68 50.81 0.46 0.9 WisdmTrTlEarn EXT 81.46 62.99 79.77 8.68 12.2
VangdDivApp VIG 87.39 70.54 85.18 7.42 9.5 VanguardSTCpBd VCSH 81.18 78.75 79.37 0.38 0.5 WBITacticalLCV WBIF 24.98 19.54 24.42 1.58 6.9 WisdomTreeUSSTCpBd SFIG 50.26 49.33 49.33 -0.84 -1.7 WisTreeUSQltyDiv DGRW 33.89 27.24 33.27 2.92 9.6
VanguardEmgMktGov VWOB 82.08 72.13 77.54 3.58 4.8 VanguardSTGovBd VGSH 61.44 60.58 60.92 0.16 0.3 WBITacticalLCY WBIG 21.45 18.75 20.87 -0.80 -3.7 WisdomTreeUSSTHY SFHY 51.10 49.44 50.34 0.29 0.6 WisTrUSSmCpQltyDiv DGRS 35.07 22.86 33.99 7.46 28.1
VanguardEnergyETF VDE 109.08 68.64 104.68 21.56 25.9 VanguardShTmInfltn VTIP 49.76 48.17 49.16 0.81 1.7 WBITacticalRotatn WBIR 24.97 23.13 23.28 -1.67 -6.7 WisdmTreeGermanHdg DXGE 28.58 22.22 28.49 1.87 7.0 WisdomTreeUKHdg DXPS 27.15 20.96 23.32 0.26 1.1
VanExDurTreasETF EDV 145.60 106.00 109.42 -3.78 -3.3 VanguardSC VB 133.18 93.91 128.96 18.32 16.6 WBITacticalSMG WBIA 24.06 20.25 23.21 0.61 2.7 WisdomTrGlbxUSDiv DXUS 23.80 19.13 23.75 1.37 6.1 WTWeakDollarUS USWD 26.82 21.35 26.82 3.46 14.8
VanguardAWxUSSC VSS 100.80 80.64 94.03 1.16 1.2 VanguardTaxExempt VTEB 52.88 49.32 50.26 -0.73 -1.4 WBITacticalSMS WBID 23.75 19.62 22.68 1.38 6.5 WisdomTreeGlbxUS HDRW 26.48 21.51 23.56 -0.91 -3.7 WisdTreeWstnAsset UBND 49.97 45.78 49.63 2.62 5.6
VanguardFTSEDevMk VEA 38.18 31.95 36.54 -0.18 -0.5 VanguardTelecom VOX 102.05 76.01 100.15 16.24 19.4 WBITacticalSMV WBIB 25.96 20.56 24.56 1.67 7.3 WisTreeGlexUSQty DNL 50.63 39.74 46.06 0.79 1.7 WorkplaceEquality EQLT 31.47 21.86 30.21 3.30 12.3
VanguardFTSEEmgMk VWO 38.87 27.98 35.78 3.07 9.4 VanguardTotBd BND 84.92 80.03 80.79 0.03 ... WBITacticalSMY WBIC 22.63 19.36 21.88 0.24 1.1 WisdmtrGlbexUSREFd DRW 29.68 22.79 25.25 -0.87 -3.3 YieldSharesHiIncm YYY 19.80 15.70 18.57 0.75 4.2
Hedge-Fund Managers to Watch in 2017
Alan Howard David Siegel Scott Ferguson Steven A. Cohen Daniel Och
FROM LEFT: PRENSA INTERNACIONAL/ZUMA PRESS; PHILIP MONTGOMERY FOR THE WALL STREET JOURNAL; PRENSA INTERNACIONAL/ZUMA PRESS; STEVE MARCUS/REUTERS; VIRGINIA MAYO/ASSOCIATED PRESS
For many hedge-fund manag- criminal insider-trading November, bringing its perfor- generation of activist investors. familiar with the firm. But Mr. TWO SIGMA
ers, 2016 was a year to forget. charges. He later struck a mance for the year through No- That is telling of where the in- Ferguson’s CDK sale means he is Two Sigma Investments
Tens of billions of dol- personal civil settlement with vember to 2.8%, according to a dustry is going. fueled up for 2017. LLC has grown into one of the
lars flew out of the industry as securities regulators that person familiar with the matter. Mr. Ferguson, 42 years old, —David Benoit biggest quantitative hedge
investors flagged disappoint- would allow him to run a The $12.7 billion fund is worked under William Ackman funds in the world. The New
ing returns and stubbornly hedge fund again starting roughly at its high-water at Pershing Square Capital York firm had $24 billion in
high fees. New Year’s Day 2018. mark, or the point where in- Management before setting out DANIEL OCH assets under management in
Even hedge-fund stalwarts Mr. Cohen, 60 years old, vestment gains make up for on his own in 2012. Last year, A new year can’t come 2015. That swelled to $38 bil-
now concede the business says he is still ostensibly un- losses and funds can start he took his first board seat, at quickly enough for Daniel Och. lion in 2016 through a combi-
model is in need of a re- decided on a return, but Co- charging performance fees software company Autodesk The 56-year-old founder of nation of performance and in-
think, largely built around hen confidantes point to his again. That is good news for a Inc., in only his third public ac- Och-Ziff Capital Management flows.
three tenets: trading ideas, formation last year of a new fund that recently dropped its tivism fight. Group LLC, the largest pub- Founded by computer scien-
technology and fees. Too many firm, Stamford Harbor Capi- management fee to 0% for That seat came without a licly traded U.S. hedge-fund tist David Siegel and mathema-
firms are doing the same thing tal, across the street from some investors in a bid to at- shareholder vote. After Au- firm, endured a 48% stock tician John Overdeck, Two
with each, skeptics say, mean- SAC’s old offices and run by a plunge in his firm’s shares in Sigma uses computer systems
ing a firm that differentiates longtime SAC deputy. 2016. That came as Och-Ziff to trawl data, make predictions
itself from the pack will stand A Stamford Harbor consul- paid $400 million to settle and trade automatically. Like
out. tant already has begun survey-
Even hedge-fund stalwarts now concede the federal charges that it bribed some other hedge funds, it is
Here are a few hedge-fund ing potential investors about business model is in need of a rethink. African government officials in eager to say it considers itself
managers to watch in the year the fees they would pay for a exchange for business. more a technology company
ahead: new hedge fund, people famil- The firm’s problems are than an investment firm, styling
iar with the matter said. magnified by its outsize reli- itself as the Google Inc. of Wall
If and when Mr. Cohen be- tract more assets. todesk’s chief executive ance on U.S. institutional in- Street.
STEVEN A. COHEN gins to raise money in ear- Macro managers like blasted him, Mr. Ferguson vestors, who have been among In one sign of that ambi-
The coming year looks mor- nest, he is expected to aim Brevan Howard make calls on didn’t fight back. Mr. Ferguson the most active in pulling tious casting, in 2016, it
ibund for new hedge-fund for a record-breaking sum. big-picture market movers like and the new school of activ- their money from hedge funds. joined with American Inter-
launches, with many young —Rob Copeland the economy and politics. If a ists are more into playing po- The firm now oversees $37 national Group Inc. and
traders opting to stay inside Trump presidency spells a lite to get their way. billion overall, down from $45 Hamilton Insurance Group
bigger firms rather than risk a new, sustained regime of mar- Autodesk shares have ral- billion at the start of 2016. Ltd. to provide an automated
flameout on their own. ALAN HOWARD ket volatility, that may spell lied since. Meanwhile, Mr. Fer- Och-Ziff couldn’t find a online system to issue insur-
Because of that, hedge- Alan Howard may have rea- an era of profits for them. guson has been selling down taker in 2016 when it shopped ance policies to small busi-
fund investors are readying son for hope. A strong Novem- —Juliet Chung his first activist bet, on a car- a piece of itself to investment nesses in minutes.
themselves for the once-un- ber on the back of Donald dealer software company CDK firms across Wall Street. In- The firm believes such ef-
likely return of an old favor- Trump’s election victory re- Global Inc., which has more stead, Mr. Och and other top forts will help in recruiting and
ite: the billionaire Steven A. versed what would have been a SCOTT FERGUSON than doubled in value since executives agreed to invest up keeping talent, a person famil-
Cohen. third consecutive year of losses Scott Ferguson of Sachem October 2014. to $500 million in the firm. iar with Two Sigma said. But
Mr. Cohen’s SAC Capital for his Brevan Howard Asset Head Capital Management is Sachem Head told investors More than ever, his fortune is the firm has told clients notch-
Advisors agreed to plead Management LLP’s flagship often mentioned as near the it was up slightly for the year as riding on any comeback. ing strong returns is its priority.
guilty three years ago to fund. The fund gained 5.6% in head of the class for the next of Dec. 15, according to a person —Rob Copeland —Juliet Chung
Email: heard@wsj.com
HEARD ON THE STREET FINANCIAL ANALYSIS & COMMENTARY WSJ.com/Heard
Global markets From their desks less than a mile apart in Washington,
Donald Trump and Janet Yellen will drive global markets
With the 4.6% unemployment rate already at a nine-
year low, how low will it actually go? Over the past Unemployment
in 2017. Mr. Trump’s plan to juice the U.S. economy and roil global trade and Ms. Yellen’s four decades, it was only below 4.0% for one stretch, in 2000. If current trends
efforts to control inflation will hit markets for currencies, stocks and bonds. U.S. persist, the unemployment rate would hit 3.9% in 12 months, according to an
rate increases will suck more money out of China, roiling its financial system. Atlanta Fed model. A rare occurrence, it might not be so outlandish in 2017.
–Alex Frangos –Steven Russolillo
YIELD ON THE 2.5% 10% U.S.
10-YEAR U.S. 8 UNEMPLOYMENT
2.0
Inflation TREASURY
NOTE
6
4
RATE
Commodities
1.5
Higher inflation is on the way. But 2 After a rip-roaring 2016, coal and
the more important factor in many 1.0 0 metal prices are showing signs of
advanced economies is whether wage J F M A M J J A S O N D flagging again in recent weeks. Did mining
2007 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16
inflation rises. In a world with high debt burdens firms take the bait and let capex drift up again
and fractious politics, fatter pay packets could last year? The answer will help determine the
be a decisive factor. trajectory of commodity prices in 2017 and beyond.
–Richard Barley –Nathaniel Taplin
S&P GSCI INDEX
U.S. CONSUMER PRICES, MONTHLY CHANGES
400
0.6%
0.3 350
0
300
–0.3
–0.6
2014 2015 2016
Window 250
J F M A M J J A S O N D
KBW BANK INDEX

on 2017 S&P 500 TELECOM SECTOR
90
Eight things to watch in
180
the year ahead by Heard
80 170
on the Street’s writers
70 160
60 150
50 140
J F M A M J J A S O N D J F M A M J J A S O N D
Banks Telecom
Investors are optimistic about financial stocks Expect the government's enforcement of net
in 2017 on hopes for higher interest rates and neutrality rules to be front and center for
less regulation. But lots of good news is HOW MANY YUAN ONE DOLLAR BUYS S&P 500 PHARMACEUTICAL SECTOR internet and telecom companies in 2017.
priced into the sector and plenty can 6.40 yuan 650 The big question is whether the Trump
go wrong. Two risks are losses on 625 administration will try to undo rules
6.60
auto loans and a trade war that passed during the Obama
600
hits global money flows. 6.80 administration that
–Aaron Back Chinese 7.00
575 reclassified broadband
as a utility.
Scale inverted to show the declining yuan. 550
economy J F M A M J J A S O N D J F M A M J J A S O N D Pharma –Miriam
Having gorged themselves on cheap credit all year, Chinese firms are looking Drug pricing drama helped cause pharmaceuticals Gottfried
fatter and happier as the new year begins. But with the crucial real estate stocks to badly trail the market in 2016. Can drug
sector turning and industrial profit growth poised to slow again, will Chinese companies find a way to generate growth without
consumers and exports show up next year to take up the slack? reigniting the ire of the public and regulators?
–Nathaniel Taplin –Charley Grant
Photos: Bao Dandan/Xinhua via Zuma Wire (global markets); Seth Perlman/AP Photo (unemployment); David Ramos/Getty Images (commodities); Michael Bocchieri/Getty Images (telecom); THE WALL STREET JOURNAL.

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* * * * * TUESDAY, JANUARY 3, 2017 ~ VOL. CCLXIX NO. 1 WSJ.com HHHH $3.00

andlords will likely be

Rise Over Russia

on Chinese investment in BY PAUL SONNE national security adviser des-

Measure GOP Democrats say they will fight

Takes Aim Continued from Page One

At Ethics controversial process to repeal

Watchdog more than 19 million people

Autistic Son’s Path to Rhodes Scholar

SEAN RAYFORD FOR THE WALL STREET JOURNAL

Hawaii Homeless Policies Spur Fixes, Debate Carolina

Cities, States Set Up Deportation Legal Funds

MARY SCHWALM/ASSOCIATED PRESS

Lighthizer Is Expected to Be Named to Trade Post

and Michael C. Bender

a member of the Foreign Rela- “We have to begin to under-

tweet last month that being a West world, folks,” he said.

OZAN KOSE/AGENCE FRANCE-PRESSE/GETTY IMAGES

Russian Move Imperils Afghan Peace Deal Terror Group

Angola, in Economic Crisis, Gears Up for a Leadership Shift

ATEF SAFADI/EUROPEAN PRESSPHOTO AGENCY

Police Question Netanyahu Over Gifts

GALI TIBBON/AGENCE FRANCE-PRESSE/GETTY IMAGES

Scores Killed in Brazil Prison Riot

JUNG YEON-JE/AFP/GETTY IMAGES

SÃO PAULO—About 60 in-

MARCIO SILVA/AGENCE FRANCE-PRESSE/GETTY IMAGES

Fresh Arrests Made in South Korean Scandal

FROM PAGE ONE

fourth quarter in the U.S., six

Meet Spectrum Enterprise. Our thing?

Coffee Art by Sam DeBey

EUROPE FACES TESTS IN A SERIES OF ELECTIONS

TOBIAS SCHWARZ/AGENCE FRANCE-PRESSE/GETTY IMAGES; LAN HONGGUANG/ZUMA PRESS (XI)

to hire almost a thou- dates to replace Gov. de Blasio seeks re-elec-

LINCOLN NOVEL, WRIGHT LOOK-BACK, TIGER WOODS RETURNS

Arts and 150th anniversary of the

l Jan. 19-29: Sundance Nolan’s film about World

Hershey. Tech fans anticipate a reinvented

dia company l June 26: Trial in Brook-

401(K) The downturns showed Mr.

WILL YURMAN FOR THE WALL STREET JOURNAL

WHALE like ancient fossils scrubbed

GREATER NEW YORK

PETER J. SMITH FOR THE WALL STREET JOURNAL (2)

A Smoother Subway Ride

“An amazing experience!

GREATER NEW YORK

PETER FOLEY FOR THE WALL STREET JOURNAL (3)

amplifies what is January, according to the Al-

Like Music to Their Lungs

GREATER NEW YORK WATCH

It’s NEW YORK

Task Force to Push

A good therapist collaborates, Dr. Pelusi says.

TRICKS OF THE TRADE

without screaming ‘Look at me.’”

LIFE & ARTS

What is the best way to open up about

What should a client do in between ses-

Can a person learn to trust a therapist?

Weather The WSJ Daily Crossword | Edited by Mike Shenk

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