Mid-Morning Market Update: Markets Open Higher; Infoblox Tops Q1 Estimates

Following the market opening Tuesday, the Dow traded up 0.83 percent to 17,867.44 while the NASDAQ climbed 0.70 percent to 5,144.59. The S&P also rose, gaining 0.76 percent to 2,096.27.

In trading on Tuesday, financial shares were relative leaders, up on the day by about 1 percent. Meanwhile, top gainers in the sector included

, up 19 percent, and

, up 12 percent. Basic materials shares rose by just 0.4 percent in the US market on Tuesday. Top losers in the sector included

,

, and

.

reported better-than-expected results for its fiscal first quarter and issued a strong outlook on Monday. The Santa Clara, California-based company reported a quarterly net loss of $1.5 million, or $0.03 per share, versus a year-ago net loss of $10.2 million, or $0.18 per share. Its non-GAAP earnings surged to $0.13 per share from $0.05 per share. Its total net revenue climbed 40.9 percent year-over-year to $94.0 million. However, analysts were expecting earnings of $0.06 per share on revenue of $87.58 million.

shares shot up 13 percent to $12.62 after the company reported a new contract with Eastman Chemical through 2019. Shares of

got a boost, shooting up 21 percent to $18.20 after the company reported better-than-expected results for its fiscal first quarter and issued a strong outlook. The company's board also announced a $100 million share buyback program.

shares were also up, gaining 8 percent to $53.26. Mattress Firm agreed to acquire HMK Mattress Holdings LLC, the holding company of Sleepy's and related entities, for $780 million. The company reported preliminary Q3 adjusted earnings of $0.80 to $0.82 per share, and sales growth of 50.7 percent.

shares tumbled 21 percent to $1.58 after the company reported the suspension of distribution for common units. Shares of

were down 11 percent to $13.65. BofA Merrill Lynch's Ross Gilardi downgraded the rating on Joy Global from Neutral to Underperform.

was down, falling 8 percent to $3.87. NQ Mobile reported Q3 adjusted earnings of $0.01 per ADS on sales of $87.9 million.

In commodity news, oil traded down 0.82 percent to $41.31, while gold traded up 0.24 percent to $1,067.90. Silver traded up 0.56 percent Tuesday to $14.17, while copper rose 0.73 percent to $2.06.

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.05 percent, the Spanish Ibex Index gained 0.25 percent, while Italy's FTSE MIB Index surged 0.32 percent. Meanwhile, the German DAX declined 0.16 percent, and the French CAC 40 slipped 0.28 percent, while U.K. shares rose 0.60 percent.

The final reading of the Markit manufacturing PMI rose to 52.80 in November, versus a flash reading of 52.60. US construction spending rose 1.00 percent in October, versus economists' expectations for a 0.50 percent growth. The ISM manufacturing index declined to 48.60 in November, versus a prior reading of 50.10. Economists were expecting a reading of 50.30.