Mid-Afternoon Market Update: Crude Oil Rises 2%; Zafgen Shares Dip On Beloranib Partial Clinical Hold

Toward the end of trading Friday, the Dow traded up 0.23 percent to 17,181.30 while the NASDAQ climbed 0.12 percent to 4,876.10. The S&P also rose, gaining 0.28 percent to 2,029.44.

In trading on Friday, non-cyclical consumer goods & services shares jumped by 0.59 percent. Top gainers in the sector included

, up 4 percent, and

, up 4 percent. In trading on Friday, basic materials shares dipped by 1.01 percent. Meanwhile, top losers in the sector included

, down 11 percent, and

, off 8 percent.

reported upbeat earnings for the third quarter on Friday. The Fairfield, Connecticut-based company reported a quarterly profit of $2.51 billion, or $0.25 per share, versus a year-ago profit of $3.54 billion, or $0.35 per share. Its operating earnings came in at $0.32 per share for the recent quarter, while industrial operating plus verticals earnings came in at $0.29 per share. Its revenue declined 1 percent to $31.68 billion, while industrial plus verticals sales came in at $27.9 billion. Analysts were expecting earnings of $0.26 per share on revenue of $28.57 billion.

shares shot up 22 percent to $24.93 following announcement of proposal from

of $26.60 per share. Shares of

got a boost, shooting up 10 percent to $10.97. Harsco projects that Q3 adjusted earnings will be above the earlier provided guidance range.

shares were also up, gaining 4 percent to $72.11 after the company named activist investor Keith Meister to its board. The company also lowered its adjusted profit guidance for 2015.

shares tumbled 45 percent to $11.61 on beloranib partial clinical hold. Shares of

were down 38 percent to $16.51 after the company announced positive topline Phase 3 clinical results for IV Solithromycin in the treatment of community-acquired bacterial pneumonia.

was down, falling 28 percent to $18.80 after the company lowered its Q3 earnings forecast and issued a weak sales outlook.

In commodity news, oil traded up 2.07 percent to $47.34, while gold traded down 0.44 percent to $1,182.30. Silver traded down 0.46 percent Friday to $16.09, while copper fell 0.89 percent to $2.40.

European shares were higher today. The eurozone's STOXX 600 climbed 0.59 percent, the Spanish Ibex Index rose 1.28 percent, while Italy's FTSE MIB Index surged 0.54 percent. Meanwhile, the German DAX climbed 0.39 percent, and the French CAC 40 jumped 0.59 percent, while U.K. shares rose 0.62 percent.

US industrial production slipped 0.2 percent in September, versus economists' expectations for a 0.2 percent decline. The preliminary reading of the University of Michigan consumer sentiment index rose to 92.10 in October, versus a prior reading of 87.20. However, economists were expecting a reading of 89.00.