Following the market opening Tuesday, the Dow traded up 0.11 percent to 17,167.57 while the NASDAQ gained 0.18 percent to 4,911.85. The S&P also rose, gaining 0.19 percent to 2,016.48.
Leading and Lagging Sectors
Tuesday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Cerus Corporation CERS and Osiris Therapeutics, Inc. OSIR.
In trading on Tuesday, utilities shares declined by 0.71 percent. Meanwhile, top losers in the sector included Targa Resources Corp TRGP, down 3 percent, and Genie Energy Ltd GNE, down 3 percent.
Top Headline
Commercial Metals Company CMC reported a drop in its earnings for its first quarter.
The company's quarterly net earnings slipped to $25.1 million, or $0.21 per share, compared to $32.2 million, or $0.27 per share, in the year-ago period. Earnings from continuing operations slipped to $0.22 per diluted share from $0.29 per diluted share.
Its net sales dropped to $1.2 billion from $1.7 billion. Analysts were expecting earnings of $0.22 per share on revenue of $1.36 billion.
Equities Trading UP
Smith & Wesson Holding Corp SWHC shares shot up 10 percent to $25.49 as the company issued a stronger-than-expected third-quarter and fiscal-year 2016 guidance.
Shares of Steadymed Ltd STDY got a boost, shooting up 11 percent to $3.54 after the company reported that it has received Orphan Drug Designation for Trevyent for the treatment of pulmonary arterial hypertension.
First Solar, Inc. FSLR shares were also up, gaining 7 percent to $71.30. Goldman Sachs upgraded First Solar from Neutral to Buy and raised the price target from $61.00 to $100.00.
Equities Trading DOWN
MannKind Corporation MNKD shares dropped 27 percent to $1.06 on termination of Afrezza deal with Sanofi SA (ADR) SNY. The company is reviewing strategic options for Afrezza as a result of termination.
Shares of Republic Airways Holdings Inc. RJET were down 14 percent to $3.13. Deutsche Bank downgraded Republic Airways from Buy to Hold and lowered the price target from $8.00 to $4.00.
Akebia Therapeutics Inc AKBA was down, falling around 11 percent to $11.12 following announcement of public offering, corporate and clinical developments. The company announced it plans on offering and selling $75 million worth of its common stock in a public offering.
Commodities
In commodity news, oil traded down 1.47 percent to $36.22, while gold traded up 0.16 percent to $1,076.90.
Silver traded up 0.82 percent Monday to $13.96, while copper rose 0.89 percent to $2.10.
Eurozone
European shares were higher today. The eurozone's STOXX 600 surged 0.60 percent, the Spanish Ibex Index gained 0.36 percent, while Italy's FTSE MIB Index rose 0.87 percent. Meanwhile, the German DAX gained 0.31 percent, and the French CAC 40 climbed 0.47 percent, while U.K. shares rose 0.71 percent.
Economics
The Johnson Redbook Retail Sales Index declined 0.3 percent in December versus November.
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