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Midway through trading Tuesday, the Dow traded down 1.25 percent to 16,243.93 while the NASDAQ dipped 1.09 percent to 4,570.11. The S&P also fell, dropping 1.20 percent to 1,916.15.
Leading and Lagging Sectors
On Tuesday, utilities shares slipped by just 0.3 percent. Meanwhile, top gainers in the sector included
Targa Resources CorpTRGP, up 3 percent, and
Chesapeake Utilities CorporationCPK up 3 percent.
In trading on Tuesday, energy shares fell by 2.67 percent. Meanwhile, top losers in the sector included
Stone Energy CorporationSGY, down 10 percent, and
Bristow Group Inc BRS, down 9 percent.
Top HeadlineAlphabet IncGOOGGOOGL reported stronger-than-expected results for its fourth quarter on Monday.
Alphabet reported a huge Q4 earnings beat of $8.67; consensus estimate called for earnings of $8.10 per share. The company also beat on revenue, coming in at $21.34 billion versus $20.76 billion estimates.
Equities Trading UP LoJack CorporationLOJN shares shot up 20 percent to $6.41 as
announced plans to acquire LoJack for $6.45 per share in cash, in a deal valued at around $134 million.
Shares of
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got a boost, shooting up 23 percent to $49.79 as the company reported stronger-than-expected quarterly earnings.
FabrinetFN shares were also up, gaining 14 percent to $28.56 after the company reported stronger-than-expected quarterly results.
Equities Trading DOWN Carbylan Therapeutics Inc CBYL shares dropped 67 percent to $0.810 after the company announced top-line results from a Phase 3 trial, COR1.1.
Shares of
Integrated Device Technology IncIDTI were down 24 percent to $19.26. Integrated Device Technology reported in-line earnings for its third quarter.
Rent-A-Center IncRCII was down, falling around 24 percent to $10.07. Rent-A-Center reported upbeat quarterly earnings, but the company's sales missed analysts' estimates.
Commodities
In commodity news, oil traded down 3.51 percent to $30.51, while gold traded down 0.11 percent to $1,126.80.
Silver traded down 0.13 percent Tuesday to $14.33, while copper fell 0.10 percent to $2.05.
Eurozone
European shares were lower today. The eurozone's STOXX 600 fell 2.12 percent, the Spanish Ibex Index dipped 3.15 percent, while Italy's FTSE MIB Index dropped 3.09 percent. Meanwhile, the German DAX dropped 2 percent, and the French CAC 40 slipped 2.61 percent, while U.K. shares fell 2.41 percent.
Economics
There were no major US economic releases Tuesday.
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Posted In: EarningsNewsEurozoneCommoditiesM&AGlobalIntraday UpdateMarketsMoversElectronic Equipment ManufacturersInformation TechnologyMid-Day Market Update
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