Mid-Afternoon Market Update: Crude Oil Up 4.5%; Horizon Pharma Shares Tumble

Toward the end of trading Tuesday, the Dow traded up 0.95 percent to 17,723.27 while the NASDAQ climbed 0.68 percent to 4,866.08. The S&P also rose, gaining 0.89 percent to 2,060.08.

On Tuesday, energy shares gained by 3.2 percent. Meanwhile, top gainers in the sector included

, up 33 percent, and

, up 26 percent. In trading on Tuesday, technology shares rose by just 0.4 percent. Meanwhile, top losers in the sector included

, down 8 percent, and

, down 6 percent.

reported better-than-expected earnings for the first quarter on Monday, but the company missed analysts' sales estimates. The lightweight metals manufacturer posted first quarter earnings of $0.07 per share, $0.05 above the Street's consensus, on revenue of $4.95 billion, which missed the already-low expectations by $190 million.

shares shot up 5 percent to $1.93 after the company reported favorable results from Phase 1b trial of APD371. Shares of

got a boost, shooting up 7 percent to $6.34. Credit Suisse upgraded Helix Energy Solutions from Neutral to Outperform and raised the price target from $5.00 to $10.00.

shares were also up, gaining 9 percent to $4.49 following reports the company is planning to cut jobs in North America. Bloomberg, citing "people with knowledge of the matter," reported that a head count reduction follows similar moves by Credit Suisse and Deutsche Bank. .

shares dropped 25 percent to $13.59 after the company released an investor presentation which included revenue outlook. The company expects 2016 revenue to be in a range of $1.025 billion to $1.05 billion and adjusted EBITDA to be in a range of $505 million to $520 million. Horizon Pharma's revenue guidance for the first quarter may be in a range of $195 million to $210 million (the company guided towards a 79 percent year-over-year growth at midpoint), falling short of the $228 million Wall Street analysts were expecting. Shares of

were down 11 percent to $9.48. T2 Biosystems reported preliminary Q1 revenue of $1 million.

was down, falling around 8 percent to $22.93 after the company lowered its forecast for the first quarter. The company expects adjusted Q1 earnings of $0.35 to $0.37 per share on revenue of $1.09 billion to $1.1 billion.

In commodity news, oil traded up 4.5 percent to $42.17 while gold traded up 0.14 percent to $1,259.80. Silver traded up 1.37 percent Tuesday to $16.20, while copper rose 2.65 percent to $2.15.

European shares closed mostly higher today. The eurozone's STOXX 600 gained 0.53 percent, the Spanish Ibex Index rose 0.57 percent, while Italy's FTSE MIB Index fell 1.57 percent. Meanwhile, the German DAX climbed 0.81 percent, and the French CAC 40 gained 0.77 percent, while U.K. shares rose 0.68 percent.

U.S. import prices rose 0.20 percent for March, versus economists' expectations for a 1.00 percent growth. Export prices were unchanged for the month, versus economists' expectations for a 0.20 percent gain. The U.S. government posted a budget deficit of $108 billion for March, versus a deficit of $53 billion in the year-ago period, according to the Treasury Department.