Mid-Afternoon Market Update: Canadian Solar Breaks Out; The ExOne Falls

Midway through trading Monday, the Dow traded up 0.20 percent to 15,494.58 while the NASDAQ surged 0.21 percent to 3,607.46. The S&P also rose, gaining 0.17 percent to 1,683.31.

Top Headline
Citigroup C reported a rise in its second-quarter profit. Citigroup's quarterly profit jumped to $4.2 billion, or $1.34 per share, from $2.95 billion, or $1 per share, in the year-ago quarter.

Its adjusted earnings per share came in at $1.25 per share, beating analysts' estimates of $1.18 per share. Its total net revenue rose to $20.5 billion from $18.64 billion.

However, analysts were projecting earnings of $1.18 per share on revenue of $19.73 billion.

Equities Trading UP
Leap Wireless International LEAP shot up 114.32 percent to $17.10 after AT&T T agreed to buy Leap Wireless for around $1.19 billion in cash.

Shares of Canadian Solar CSIQ were also on a rip Monday afternoon, gaining 18.70 percent to $13.71 after China released massive growth forecasts for the solar industry leading Lazard Capital to release a bullish note on the company. 

Taylor Capital Group TAYC was also up, gaining 19.88 percent to $21.35 after MB Financial MBFI announced its plans to acquire Taylor Capital for $680 million.

Equities Trading DOWN

Shares of Cash America International CSH were down 5.75 percent to $45.92 after the company cut its Q2 earnings outlook.

Ingredion INGR was down, falling 9.90 percent to $62.56 after the company lowered its profit outlook for the full year.

The ExOne XONE was down as well, falling 5.55 percent to $63.79 after getting downgraded by BB&T Capital Markets this afternoon.

Commodities
In commodity news, oil traded up 0.42 percent to $106.40, while gold traded up 0.46 percent to $1,283.50. Silver traded up 0.14 percent Monday to $19.97, while copper fell 0.21 percent to $3.14.

Eurozone
European shares were higher today. The Spanish Ibex Index rose 0.04 percent and the Italian FTSE MIB Index gained 0.93 percent. Meanwhile, the German DAX jumped 0.17 percent and the French CAC 40 rose 0.61 percent while U.K. shares surged 0.56 percent.

Economics
US retail sales increased 0.4% in June, versus economists' expectations for a 0.9% gain.

The Empire State manufacturing index surged to 9.46 in July, from 7.84 in June. However, economists were expecting a reading of 5.00 in July.

US business inventories increased 0.1% to $1.66 trillion in May. However, economists were projecting no change.