Mid-Day Market Update: Tuesday's Market Movers: China's New Short Sell Rule, Greece's Stock Exchange; LendingTree, IPC Healthcare, AAC Holdings, and More!

Chinese Premier Li Keqiang expressed his anger by criticizing financial and economic officials in China for allowing their stock market to plunge in a meeting with officials on July 4th. China took yet another step to curb the stock market’s volatility on Monday by implementing new short-sell rules. Under these new rules, short-sellers must “wait at least one day to cover their positions and pay back loans used to buy shares,” according to the Wall Street Journal.

China’s largest brokerage firm, Citic Securities, announced on Tuesday that it will be halting short selling so that its system could “adjust to new regulations that require investors who borrowed shares to wait one day to repay the loan,” according to CNN Money. The Shanghai Composite increased 3.69 percent and the smaller Shenzhen Stock Exchange Composite added another 4.77 percent on Tuesday.

The Athens Stock Exchange declined 1.22 percent on Tuesday, after dwindling nearly 16 percent on Monday.

Onto the United States, Dublin-based Shire PLC made an unsolicited ~$30.6 billion bid for biopharmaceutical company Baxalta Inc BXLT. The offer came just more than a month after Baxalta spun off from Baxter International Inc BAX. Baxter still owns 24 percent of the stock.

The Dow Jones Industrial Index and the S&P 500 remained fairly stagnant, the NASDAQ Composite declined 0.20 percent, the US Dollar Index dwindled 0.30 percent, and crude oil WTI rebounded 2.1 percent in Tuesday’s midday session.

Stocks continued to move:
Winners:
LendingTree Inc TREE skyrocketed 39 percent after the online loan marketplace operator reported second quarter earnings of 63 cents per share, up from 39 cents last year; analysts expected earnings of 33 cents per share.

IPC Healthcare Inc IPCM soared 37 percent after the national acute hospitalist was to be acquired by TeamHealth Holdings Inc TMH for a deal totalling to $1.6 billion.

eLong Inc LONG spiked 21 percent after the Chinese provider of mobile and online hotel reservations received a non-binding “going-private” offer for $18 per share ADS.

Rudolph Technologies Inc RTEC was lifted 17 percent after the company reported better than expected earnings; it reported earnings of $6 million, after reporting a loss last year.

ABIOMED Inc ABMD was up 15 percent after the medical devices provider reported earnings of $8.9 million, up from a loss reported last year; revenues rose to $73.4 million versus analyst’s expected $67 million.

Losers:
AAC Holdings AAC dwindled 35 percent after the provider of inpatient substance abuse treatment services’ President was indicted for murder.

TriNet Group Inc TNET declined 33 percent after the human resources solutions provider missed on earnings; the company reported earnings of 14 cents per share for Q2 versus analyst expectations of 27 cents per share. Revenues were missed as well as the company reported sales of $122.01 million versus the projected $137.55 million.

ID Systems Inc IDSY fell 26 percent after the tech company reported Q2 earnings; the company reported a loss of $3.1 million on sales of $9.9 million. Analysts expected sales of $12.8 million.

TriMas Corporation TRS was down 17 percent after the manufacturer of engineered and applied products reported Q2 earnings; the company reported earnings of 30 cents per share, off by expected 31 cents per share. It also reported sales of $224.9 million versus analyst projections of $232.25 million.