Mid-Afternoon Market Update: US Stocks Edge Higher; Palo Alto Networks Shares Gain On Strong Results

Toward the end of trading Tuesday, the Dow traded up 0.22 percent to 17,832.29 while the NASDAQ surged 0.01 percent to 5,102.85. The S&P also rose, gaining 0.22 percent to 2,091.20.

In trading on Tuesday, energy shares were relative leaders, up on the day by about 2.27 percent. Meanwhile, top gainers in the sector included

, up 12 percent, and

, up 14 percent. Telecommunications services sector was the top loser in the US market on Tuesday. Top losers in the sector included

,

, and

.

reported better-than-expected earnings for its fiscal first quarter on Tuesday. The Camden, New Jersey-based company reported quarterly net earnings of $194 million, or $0.62 per share, compared to $248 million, or $0.78 per share, in the year-ago quarter. Excluding items, the company earned $0.95 per share. Its sales slipped 2 percent to $2.203 billion. Analysts were projecting earnings of $0.76 per share on revenue of $2.21 billion.

shares shot up 12 percent to $18.22 after the company reported that it has been awarded a $1.16 billion contract by the NASA, Boeing. Shares of

got a boost, shooting up 22 percent to $3.49. Citi upgraded the rating on Avon Products from Neutral to Buy, while raising the price target from $3.50 to $5.00.

shares were also up, gaining 6 percent to $182.77 after the company reported better-than-expected results for its fiscal first quarter.

shares tumbled 18 percent to $8.28 after the company reported weaker-than-expected Q2 results. Shares of

were down 16 percent to $20.15 after the company reported downbeat Q3 results.

was down, falling 24 percent to $1.87 after the company reported a wider-than-expected Q3 loss.

In commodity news, oil traded up 2.80 percent to $42.92, while gold traded up 0.69 percent to $1,074.00. Silver traded up 1.10 percent Tuesday to $14.22, while copper rose 2.57 percent to $2.07.

European shares closed lower today. The eurozone's STOXX 600 declined 1.24 percent, the Spanish Ibex Index slipped 0.68 percent, while Italy's FTSE MIB Index dropped 1.55 percent. Meanwhile, the German DAX slipped 1.43 percent, and the French CAC 40 slipped 1.41 percent, while U.K. shares fell 0.45 percent.

The U.S. economy expanded at an annual rate of 2.1 percent in the third quarter, versus economists' expectations for a 2.1 percent growth. US home prices rose 5.5 percent year-over-year in September, versus a 5.1 percent growth in August, according to the S&P/Case-Shiller index. The Conference Board's consumer confidence index declined to 90.4 in November, versus a revised reading of 99.1 in October. Economists were estimating a reading of 99.50 for November. The Richmond Fed's manufacturing index declined to -3.00 in November, versus a previous reading of -1.00. Economists were projecting a reading of 0.00.