Mid-Morning Market Update: Markets Open Higher; Dollar Tree Misses Q4 Views

Following the market opening Tuesday, the Dow traded up 0.40 percent to 16,582.75 while the NASDAQ gained 0.61 percent to 4,585.84. The S&P also rose, gaining 0.50 percent to 1,941.81.

On Tuesday, basic materials shares rose by 0.98 percent. Top gainers in the sector included

,

, and

. In trading on Tuesday, healthcare shares rose by just 0.24 percent. Meanwhile, top losers in the sector included

, down 36 percent, and

, down 8 percent.

reported weaker-than-expected results for its fourth quarter. Dollar Tree said that it earned $1.01 per share in the fourth quarter on revenue of $5.37 billion. Wall Street analysts were expecting the company to earn $1.07 per share on revenue of $5.41 billion. Same-store sales for the Dollar Tree segment rose 1.7 percent on a constant currency basis versus a 5.6 percent increase in the same quarter a year ago due to currency fluctuations in the Canadian market. Looking forward, Dollar Tree expects to earn $0.75 to $0.83 per share in the first quarter on revenue of $5.05 billion to $5.12 billion and earn $3.35 to $3.65 per share for the full fiscal year on revenue of $20.76 billion to $21.11 billion. Wall Street analysts were estimating the company will earn $0.80 per share in the first quarter on revenue of $5.1 billion and earn $3.76 per share for the full fiscal year on revenue of $20.92 billion.

shares shot up 42 percent to $3.59. Career Education reported a Q4 loss of $0.06 per share on revenue of $199.9 million. Shares of

got a boost, shooting up 10 percent to $8.93 after the company reported better-than-expected Q4 results.

shares were also up, gaining 18 percent to $18.19 after the company reported stronger-than-expected results for the fourth quarter.

shares dropped 49 percent to $0.950 after the company reported a wider-than-expected Q4 loss. Shares of

were down 36 percent to $6.13 after the company reported downbeat results for its fourth quarter on Monday.

was down, falling around 31 percent to $5.71. Opower reported a Q4 loss of $0.14 per share on sales of $40.5 million. The company expected Q1 loss of $0.16 to $0.14 per share on sales of $36.2 million to $37.0 million.

In commodity news, oil traded up 1.21 percent to $34.16, while gold traded up 0.82 percent to $1,244.50. Silver traded up 0.48 percent Tuesday to $14.99, while copper fell 0.21 percent to $2.13.

European shares were higher today. The eurozone's STOXX 600 gained 0.83 percent, the Spanish Ibex Index climbed 1.11 percent, while Italy's FTSE MIB Index jumped 1.64 percent. Meanwhile, the German DAX climbed 1.34 percent, and the French CAC 40 rose 0.56 percent, while U.K. shares rose 0.51 percent.

The Markit manufacturing PMI rose to 51.30 in February, versus a prior reading of 51.00. However, economists were expecting a reading of 51.00. The ISM manufacturing PMI gained to 49.50 in February, versus a prior reading of 48.20. Economists projected a reading of 48.50. US construction spending rose 1.5 percent for January, versus economists' expectations for a 0.40 percent growth.