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An earnings surprise and buyout rumors lifted biotech stocks and ETFs higher last week.

In the article Profit Surprise Leads Biotechs Higher, Investors’ Business Daily‘s Trang Ho reports that Myriad Genetics (MYGN) reported higher than expected earnings while Human Genome Sciences (HGSI) was at the center of a rumored buyout by partner GlaxoSmithKline (GSK).

ETF investors can gain exposure to the biotech industry through the First Trust NYSE Arca Biotechnology Index Fund (FBT). Other biotech ETFs include the SPDR S&P Biotech ETF (XBI), Nasdaq Biotechnology Index Fund (IBB), and the PowerShares Global Biotech Portfolio (PBTQ).

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Investors Business Daily reporter Doug Rogers looks into the recent performance of health care ETFs in the article Health Care Floats In Ocean Of Shorts.

Rogers notes that a handful of health care funds are posting gains and could hold up better when the tide turns.

ETFs mentioned in the article include SPDR S&P Biotech (XBI) which is up about 10% in the past six months and includes holdings such as Imclone Systems (IMCL), Regeneron Pharmaceuticals (REGN) and Amgen (AMGN).

iShares Nasdaq Biotechnology (IBB) is the most heavily traded of the top biotech ETFs for the past six months and up about 3% in the period. Top holdings include Amgen, Gilead Sciences (GILD) and Celgene (CELG).

See ETF MarketPro for a look at the affects of industry consolidation on Biotech ETFs and the ETF Directory for a complete listing of exchange traded funds.

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