Mid-Afternoon Market Update: Dow Rises Over 100 Points; Daktronics Shares Slide After Q1 Results

Toward the end of trading Tuesday, the Dow traded up 0.42 percent to 25,867.36 while the NASDAQ climbed 0.81 percent to 7,884.46. The S&P also rose, gaining 0.46 percent to 2,870.23.

Leading and Lagging Sectors

Tuesday afternoon, the energy shares rose 1.17 percent. Meanwhile, top gainers in the sector included Lilis Energy, Inc. LLEX up 20 percent, and EP Energy Corporation EPE up 11 percent.

In trading on Tuesday, utilities shares fell 0.94 percent.

Top Headline

Toll Brothers, Inc. TOL reported upbeat results for its third quarter and raised its revenue forecast for the full year.

Toll Brothers posted quarterly earnings of $1.26 per share on revenue of $1.91 billion. However, analysts were expecting earnings of $1.03 per share on revenue of $1.81 billion.

Toll now projects full-year revenue of $6.76 billion to $7.22 billion, versus prior forecast of $6.64 billion to $7.31 billion.

Equities Trading UP

Regis Corporation RGS shares shot up 16 percent to $20.82 after announcing upbeat quarterly earnings.

Shares of Premier, Inc. PINC got a boost, shooting up 14 percent to $43.73 after the company reported better-than-expected quarterly results.

GlobalSCAPE, Inc. GSB shares were also up, gaining 14 percent to $3.95 after the company announced a plan to repurchase up to $15 million worth of its stock at $4.00-$4.50 per share.

Equities Trading DOWN

SeaChange International, Inc. SEAC shares dropped 42 percent to $1.685 after the company cut Q2 guidance and reported diminished cash balances.

Shares of Daktronics, Inc. DAKT were down 11 percent to $8.00 following downbeat fiscal first-quarter results.

SITO Mobile, Ltd. SITO was down, falling around 23 percent to $1.55 after reporting quarterly financial results, missing estimates on sales and earnings per share.

Commodities

In commodity news, oil traded up 0.81 percent to $66.97 while gold traded up 0.46 percent to $1,200.10.

Silver traded up 0.61 percent Tuesday to $14.76, while copper rose 0.84 to $2.7085.

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 jumped 0.24 percent, the Spanish Ibex Index rose 0.85 percent, while Italy’s FTSE MIB Index rose 1.53 percent. Meanwhile the German DAX climbed 0.43 percent, and the French CAC 40 surged 0.54 percent while U.K. shares fell 0.34 percent.

Economics

On the economics calendar Tuesday, there is no important data due out.