Mid-Day Market Update: US Stocks Edge Higher; BroadSoft Shares Slip After Downbeat Earnings

Midway through trading Monday, the Dow traded up 0.02 percent to 16,515.91 while the NASDAQ gained 0.10 percent to 4,128.05. The S&P also rose, surging 0.06 percent to 1,882.25.

Leading and Lagging Sectors
Utilities shares surged around 0.52 percent in Monday trading. Leading the sector was strength from Pampa Energia SA PAM and Pampa Energia SA PAM. In trading on Monday, financial shares were relative laggards, down on the day by about 0.41 percent.

Top losers in the sector included Crawford & Company (NYSE: CRD-B), Transcontinental Realty Investors TCI, and E-House (China) Holdings EJ.

Top Headline
Pfizer PFE reported weaker-than-expected first-quarter revenue. Pfizer's quarterly profit slipped to $2.33 billion, or $0.36 per share, versus a year-ago profit of $2.75 billion, or $0.38 per share. Its adjusted earnings climbed 12% to $0.57 per share from $0.51 per share. Its revenue declined 9% to $11.35 billion versus $12.41 billion. However, analysts were estimating earnings of $0.55 per share on revenue of $12.04 billion.

Equities Trading UP
B/E Aerospace BEAV shares shot up 11.11 percent to $98.84 after the company reported that it is exploring strategic alternatives for the company.

Shares of Nordion NDZ got a boost, shooting up 6.39 percent to $12.32 after Sterigenics lifted its offer price for Nordion to $758 million.

AAON AAON shares were also up, gaining 9.17 percent to $31.55 after the company reported better-than-expected Q1 results.

Equities Trading DOWN
Shares of BroadSoft BSFT were 20.04 percent to $19.99 after the company reported downbeat quarterly earnings and issued a weak Q2 profit outlook.

Realogy Holdings RLGY shares tumbled 12.87 percent to $37.17 on Q1 results. Realogy Holdings posted a quarterly net loss of $46 million.

Trex Co TREX was down, falling 11.65 percent to $70.16 after the company reported Q1 results. The company reported its Q1 net income of $12.3 million, or $0.73 per share.

Commodities
In commodity news, oil traded down 0.64 percent to $99.12, while gold traded up 0.48 percent to $1,309.20.

Silver traded up 0.30 percent Monday to $19.61, while copper fell 0.33 percent to $3.06.

Eurozone
European shares were mostly lower today.

The eurozone's STOXX 600 slipped 0.26 percent, the Spanish Ibex Index rose 0.02 percent, while Italy's FTSE MIB Index declined 0.65 percent.

Meanwhile, the German DAX tumbled 0.28 percent and the French CAC 40 gained 0.10 percent.

Economics
The final reading of Markit PMI services index rose to 55.00 in April, versus a prior reading of 54.20. However, economists were expecting a reading of 54.50.

The ISM non-manufacturing index gained to 55.20 in April, versus a prior reading of 53.10. However, economists were projecting a reading of 54.10.