Mid-Afternoon Market Update: Markets Trade in Choppy Session as Elizabeth Arden Shares Remain Down

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Toward the end of trading Tuesday, the Dow traded up 0.10 percent to 16,711.03 while the NASDAQ dropped 0.27 percent to 4,132.23. The S&P also rose, gaining 0.02 percent to 1,897.14.
Leading and Lagging Sectors
In trading on Tuesday, healthcare shares were relative leaders, up on the day by about 0.26 percent. Top gainers in the sector included Idera Pharmaceuticals
IDRA
, Geron
GERN
, and Idenix Pharmaceuticals
IDIX
. Telecommunications services shares tumbled around 0.37 percent in Tuesday's trading. Top decliners in the sector included NQ Mobile
NQ
, down 7.2 percent, and Telecom Italia S.p.A.
TI
, off 5.6 percent.
Top Headline
On Monday, Elizabeth Arden
RDEN
reported a wider fiscal-third-quarter loss and announced its plans to explore its strategic alternatives. Elizabeth Arden posted a quarterly loss of $26.4 million, or $0.89 per share, versus a year-ago loss of $1.3 million, or $0.04 per share. Its adjusted loss came in at $0.84 per share on revenue of $210.8 million. However, analysts were projecting the company to break even on revenue of $256.9 million. Elizabeth Arden has also hired Goldman Sachs to explore potential strategic alternatives.
Equities Trading UP
Halozyme Therapeutics
HALO
shares shot up 8.71 percent to $8.18 after the company reported a Q1 loss of $0.22 per share and reported that the Data Monitoring Committee now supported enrollment in its PEGPH20 study. Shares of Rackspace Hosting
RAX
got a boost, shooting up 7.95 percent to $29.72 after the company reported
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better-than-expected
first-quarter earnings. Rackspace reported its quarterly earnings of $0.18 per share on revenue of $421 million. GT Advanced Technology
GTAT
was also on the rise, gaining 6.56 percent to $14.28 after the company following an initation at Dougherty at a Buy rating and $27 price target.
Equities Trading DOWN
Shares of DXP Enterprises
DXPE
were 37.88 percent to $67.66 after the company reported its Q1 earnings of $0.75 per share on revenue of $348.50 million. Elizabeth Arden
RDEN
shares tumbled 21.13 percent to $28.10 after the company reported a wider fiscal-third-quarter loss and announced its plans to explore its strategic alternatives. ExamWorks Group
EXAM
was also down, falling 11.08 percent to $31.29 after the company priced its 3.096 million share secondary offering at $33.90.
Commodities
In commodity news,
oil traded up 1.15 percent
to $101.75, while gold traded down 0.15 percent to $1,293.90. Silver traded down 0.03 percent Tuesday to $19.54, while copper fell 0.64 percent to $3.13.
Euro zone
European shares
were mostly higher
today. The eurozone's STOXX 600 gained 0.19 percent, the Spanish Ibex Index rose 0.10 percent, while Italy's FTSE MIB Index dropped 1.19 percent. Meanwhile, the German DAX jumped 0.55 percent and the French CAC 40 surged 0.24 percent while UK shares rose 0.21 percent.
Economics
The ICSC-Goldman's same-store sales index declined 0.1% in the week ended Saturday versus the prior week. The NFIB Small Business Optimism Index rose to 95.20 in April, versus a prior reading of 93.40. However, economists were expecting a reading of 94.50. US retail sales increased 0.1% in April, versus a revised 1.5% rise in March. However, economists were expecting retail sales to gain 0.4% last month. The import price index declined 0.4% in April, versus a revised 0.4% rise in March. However, economists were expecting a 0.3% gain in the index. The export price index shrank 1.0% in April. The Johnson Redbook Retail Sales Index gained 1.1% in the first week of May versus April. US business inventories rose 0.40% in March, versus economists' expectations for a 0.40% gain.
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Posted In: EarningsNewsGuidanceEurozoneFuturesForexGlobalEcon #sEconomicsIntraday UpdateMarketsMoversTech
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