Mid-Day Market Update: Thor Surges On Q3 Results, TiVo Tumbles

Midway through trading Friday, the Dow traded up 1.34 percent to 15,241.44 while the NASDAQ gained 1.10 percent to 3,461.68. The S&P also rose, surging 1.19 percent to 1,641.88.

Yesterday, Quiksilver

posted a loss in the fiscal second quarter. Quiksilver posted a quarterly loss of $32.4 million, or $0.19 per share, versus a year-ago loss of $5.1 million, or $0.03 per share. Excluding one-time items, Quiksilver lost $0.12 per share. Its revenue declined 7% to $458.7 million. However, analysts were projecting a profit of $0.04 per share on revenue of $505.4 million.

Rally Software Development

shot up 5.79 percent to $21.75 after the company posted upbeat Q1 profit. Shares of Thor Industries

got a boost, shooting up 8.97 percent to $44.94 on upbeat Q3 profit. Elan Corporation plc

was also up, gaining 5.40 percent to $13.37 after Royalty Pharma lifted offer to buy Elan to $13.00 per share in cash plus a contingent value right of up to $2.50 per share.

TiVo

was down, falling 17.65 percent to $11.29 after the company announced settlement of patent litigation. Shares of Iron Mountain

were down 17.02 percent to $28.54 after the company disclosed that the IRS is reviewing its REIT request. Quiksilver

shares tumbled 10.89 percent to $6.84 after the company posted a loss in the fiscal second quarter.

In commodity news, oil traded up 0.97 percent to $95.68, while gold traded down 2.56 percent to $1,379.50. Silver traded down 4.02 percent Friday to $21.80, while copper fell 1.34 percent to $3.27.

European shares were higher today. The Bundesbank cut its 2013 and 2014 growth forecasts overnight and now sees 0.3 percent growth in 2013 and 1.5 percent growth in 2014 vs. 0.4 percent and 1.9 percent previously. The Spanish Ibex Index rose 0.63 percent and the Italian FTSE MIB Index gained 0.99 percent. Meanwhile, the German DAX climbed 2.03 percent and the French CAC 40 rose 1.62 percent while U.K. shares gained 1.02 percent.

The US economy added 175,000 jobs in May. The country's jobless rate rose to 7.6% from 7.5%. However, economists were estimating an addition of 164,000 jobs and an unemployment rate of 7.5% in May. Data on consumer credit for April will be released at 3:00 p.m. ET.