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Midway through trading Tuesday, the Dow traded up 0.42 percent to 18,079.52 while the NASDAQ gained 0.01 percent to 4,960.03. The S&P also rose, gaining 0.43 percent to 2,103.38.
Leading and Lagging Sectors
On Tuesday, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from
Endeavour Silver Corp EXK and
Century Aluminum Co CENX.
In trading on Tuesday, technology shares fell by 0.21 percent. Meanwhile, top losers in the sector included
Rambus Inc. RMBS, down 7 percent, and
ADTRAN, Inc. ADTN, down 9 percent.
Top HeadlineGoldman Sachs Group IncGS reported better-than-expected earnings for its first quarter on Tuesday.
The bank's quarterly net income applicable to common shareholders dropped 56.3 percent to $1.2 billion, or $2.68 per share, versus $2.75 billion, or $5.94 per share, in the year-ago period. However, analysts were expecting earnings of $2.45 per share.
Its revenue declined to $6.34 billion from $10.62 billion, versus analysts' estimates of $6.73 billion.
Equities Trading UP Badger Meter, Inc.BMI shares shot up 13 percent to $74.45 after the company reported better-than-expected Q1 results.
Shares of
Tile Shop Hldgs, Inc. got a boost, shooting up 10 percent to $17.54 after the company reported stronger-than-expected Q1 earnings and raised its FY forecast.
Marathon Patent Group IncMARALoading...
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shares were also up, gaining 9 percent to $2.08 as the company reported a $24.9 million settlement with
Apple Inc. AAPL.
Equities Trading DOWN Applied Optoelectronics IncAAOI shares dropped 25 percent to $12.09 after the company reported preliminary first quarter results which mostly fell short of prior guidance. Applied Optoelectronics now expects to lose $0.04 to $0.06 per share on revenue $50 million to $50.5 million. The company previously guided its earnings per share to a range of $0.21 to $0.28 on revenue of $50 million to $54 million.
Shares of
Illumina, Inc.ILMN were down 24 percent to $135.06 after the company issued a weak revenue forecast for the first quarter. Bank of America downgraded Illumina from Buy to Neutral.
Netflix, Inc.NFLX was down, falling around 10 percent to $97.23. Netflix reported better-than-expected earnings for the first quarter, but the company missed analysts' sales estimates. The company also issued a weak guidance for the second quarter.
Commodities
In commodity news, oil traded up 3.27 percent to $41.08 while gold traded up 1.76 percent to $1,256.70.
Silver traded up 4.53 percent Tuesday to $16.99, while copper rose 1.91 percent to $2.21.
Eurozone
European shares were higher today. The eurozone's STOXX 600 rose 1.52 percent, the Spanish Ibex Index gained 1.15 percent, while Italy's FTSE MIB Index rose 0.87 percent. Meanwhile, the German DAX climbed 2.25 percent, and the French CAC 40 rose 1.36 percent, while U.K. shares rose 0.70 percent.
Economics
U.S. housing starts declined 8.80 percent to an annual rate of 1.09 million in March. However, economists were expecting a 1.17 million rate.
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Posted In: EarningsNewsGuidanceEurozoneCommoditiesGlobalIntraday UpdateMarketsMoversMid-Day Market Update
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