Mid-Day Market Update: SeaDrill Drops On Downbeat Earnings; Giant Interactive Shares Spike Higher

Top Headline
Wal-Mart Stores WMT announced the retirement of its president and chief executive Mike Duke. Wal-Mart appointed Doug McMillon, head of international operations, as its new president and CEO, effective February 1.

Equities Trading UP
Giant Interactive Group GA shot up 11.97 percent to $11.34 after the company received a non-binding proposal to acquire the company for $11.75 per share.

8x8 EGHT was also up, gaining 7.81 percent to $10.22 after Bank of America initiated coverage on the stock with a Buy rating and a $13.00 price target.

Celldex Therapeutics CLDX shares tumbled 2.79 percent to $27.52 after the company reported positive Phase 2 rindopepimut data in patients with recurrent glioblastoma.

Commodities
In commodity news, oil traded down 0.99 percent to $93.90, while gold traded down 0.32 percent to $1,240.60.

Eurozone
European shares were mostly higher today. The Spanish Ibex Index rose 0.06 percent, while Italy's FTSE MIB Index declined 0.34 percent. Meanwhile, the German DAX surged 0.89 percent and the French CAC 40 jumped 0.55 percent while U.K. shares rose 0.34 percent.

The Dallas Fed general business activity index fell to 1.90 in November, versus a prior reading of 3.60. However, economists were expecting a reading of 5.00.