Mid-Afternoon Market Update: Dow Rises 125 Points; RetailMeNot Shares Climb On Earnings Beat
Toward the end of trading Tuesday, the Dow traded up 0.70 percent to 17,952.86 while the NASDAQ climbed 0.50 percent to 5,152.52. The S&P also rose, gaining 0.44 percent to 2,113.25.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares declined around 0.43 percent in Tuesday's trading. Meanwhile, top losers in the sector included Archer Daniels Midland Company (NYSE: ADM), down 7 percent, and Reynolds American, Inc. (NYSE: RAI), off 4 percent.
Activision will pay $18 per share in cash, representing a 16 percent premium to King's closing price on Monday.
Equities Trading UP
RetailMeNot Inc (NASDAQ: SALE) shares shot up 22 percent to $10.74 after the company reported better-than-expected earnings for the third quarter.
Shares of Unit Corporation (NYSE: UNT) got a boost, shooting up 23 percent to $16.76. Unit reported Q3 adjusted earnings of $0.03 per share on revenue of $212.4 million.
Fabrinet (NYSE: FN) shares were also up, gaining 13 percent to $23.88 after the company reported upbeat Q1 results.
Equities Trading DOWN
AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) shares tumbled 24 percent to $31.48 on Q3 results. AMAG Pharmaceuticals reported Q3 earnings of $1.02 per share on revenue of $103.5 million.
Shares of TASER International, Inc. (NASDAQ: TASR) were down 11 percent to $21.17 after the company reported downbeat Q3 earnings.
Avis Budget Group Inc. (NASDAQ: CAR) was down, falling 12 percent to $45.83 after the company reported weaker-than-expected earnings for the third quarter and issued a weak FY15 forecast.
In commodity news, oil traded up 3.73 percent to $47.86, while gold traded down 1.66 percent to $1,117.10.
Silver traded down 0.86 percent Tuesday to $15.28, while copper rose 0.75 percent to $2.34.
European shares closed mostly higher today. The eurozone's STOXX 600 climbed 0.43 percent, the Spanish Ibex Index rose 0.45 percent, while Italy's FTSE MIB Index dipped 0.10 percent. Meanwhile, the German DAX rose 0.01 percent, and the French CAC 40 gained 0.41 percent, while U.K. shares rose 0.34 percent.
US factory orders declined 1.00 percent in September, versus economists' expectations for a 0.90 percent drop.
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