Mid-Afternoon Market Update: On Deck Capital Drops Following Earnings Miss; Symmetry Surgical Shares Spike Higher

Toward the end of trading Tuesday, the Dow traded down 0.72 percent to 17,762.89 while the NASDAQ declined 0.92 percent to 4,773.27. The S&P also fell, dropping 0.84 percent to 2,063.92. Leading and Lagging Sectors On Tuesday, the non-cyclical consumer goods & services sector proved to be a source of strength for the market. In trading on Tuesday, basic materials shares fell by 2.6 percent. Meanwhile, top losers in the sector included P H Glatfelter Co GLT, down 15 percent, and Olympic Steel, Inc. ZEUS, down 12 percent. Top Headline Pfizer Inc. PFE reported stronger-than-expected results for its first quarter and raised its forecast for the full year. The company posted quarterly earnings of $3.02 billion, or $0.49 per share, compared to $2.38 billion, or $0.38 per share, in the year-ago period. Excluding non-recurring items, the company's adjusted earnings came in at $0.67 per share. Its revenue surged 20 percent to $13.01 billion. Analysts were expecting a profit of $0.55 per share on revenue of $12.00 billion. Pfizer boosted its adjusted earnings forecast to $2.38-$2.48 per share, from $2.20-$2.30 per share for the full year 2016. Similarly, the company lifted its revenue forecast to $51-$53.0 billion, from $49-$51 billion. Equities Trading UP Symmetry Surgical Inc SSRG shares shot up 24 percent to $12.94 as the company agreed to be acquired by RoundTable Healthcare Partners for $13.10 per share in cash. Shares of Heska Corp HSKA got a boost, shooting up 20 percent to $35.81 after the company reported upbeat Q1 results. AXT Inc AXTI shares were also up, gaining 26 percent to $3.35 as the company reported upbeat Q1 earnings. Equities Trading DOWN On Deck Capital Inc ONDK shares dropped 34 percent to $5.45 as the company reported a wider-than-expected Q1 loss and issued a weak revenue forecast. Shares of Neuralstem, Inc. CUR were down 41 percent to $0.350. Neuralstem priced its 20 million share offering at $0.40 per share. Walter Investment Management Corp WAC was down, falling around 27 percent to $5.29. Walter Investment Management reported a Q1 loss of $0.50 per share. Commodities In commodity news, oil traded down 2.57 percent to $43.63 while gold traded down 0.35 percent to $1,291.20. Silver traded down 1 percent Tuesday to $17.51, while copper fell 2.10 percent to $2.22. Eurozone European shares closed lower today. The eurozone's STOXX 600 declined 1.66 percent, the Spanish Ibex Index fell 2.85 percent, while Italy's FTSE MIB Index declined 2.46 percent. Meanwhile, the German DAX dropped 1.94 percent, and the French CAC 40 slipped 1.59 percent while U.K. shares fell 0.90 percent. Economics On the economics calendar Tuesday, there is no important data due out