Benzinga Mid-Day Market Update

Mid-way through trading Wednesday, the Dow traded down 0.37 percent to 13,058.72 while the NASDAQ fell 0.67 percent to 2,968.04. The S&P also fell, decreasing 0.36 percent to 1,406.83.

Trading resumed on the NASDAQ, NYSE, and other major US exchanges Wednesday after having been suspended for 2 days by the effects of hurricane Sandy. While we're happy to see the markets open again, we here at Benzinga wanted to say that what is more important is that everyone hopefully ended up safe. To those still suffering the effects of the storm, the 8.2 million or so buildings without electricity, we wish the best.

Warnaco Group

remained up 37.08 percent to $69.75 after it was announced that PVH would acquire the company for $2.9 billion in cash. Schiff Nutrition International

rocketed up 45.90 percent to $33.84 after Bayer announced it would acquire the company for $1.2 billion. Shares of OPNET Technologies

also jumped, rising 29.25 percent to $41.49 after it was announced the company would be acquired by Riverbed Technology

for $1 billion.

Western Union

continued to fall, down 28.97 percent on massive volume to $12.74 after a downgrade at D.A. Davidson Wednesday morning. Riverbed Technology

also took a hit, falling 18.88 percent to $18.35 following a pair of downgrades at Jefferies & Co and Wunderlich Securities. Shares WellCare Health Plans

fell 14.60 percent to $47.17 after the company posted less optimistic guidance than previously expected.

In commodity news, oil traded up 1.35 percent to $89.36, while gold traded up 0.71 percent to $1,724.30. Silver traded up 0.51 percent Wednesday to $32.33.

In the eurozone, markets were up across the board as Greece prepares its budget. German chancellor Angela Merkel came out making some comments, saying the eurozone could use a dynamic economy like that of Turkey's, hinting at the possibility of Turkey joining the EU in the near future.

In economic news, the employment cost index came in at 0.4 percent, slightly below the expected reading and previous figure of 0.5%. MBA Mortgage Applications were reported as well, coming in at -4.8 percent, well above the prior figure of -12.0 percent. The Chicago PMI was also reported, coming in at 49.9, below the expected 51, and slightly above the previous report of 49.7.