Mid-Day Market Update: Breitburn Energy Partners Drops Following News of Distribution Suspension; Mattress Firm Shares Surge

Midway through trading Tuesday, the Dow traded up 0.65 percent to 17,835.27 while the NASDAQ climbed 0.50 percent to 5,134.32. The S&P also rose, gaining 0.57 percent to 2,092.27. Leading and Lagging Sectors In trading on Tuesday, technology shares were relative leaders, up on the day by about 0.75 percent. Meanwhile, top gainers in the sector included Perion Network Ltd PERI, up 7 percent, and Siliconware Precision Industries (ADR) SPIL, up 4 percent. Industrials shares rose by just 0.28 percent in the US market on Tuesday. Top losers in the sector included Navistar International Corp NAV, Lumber Liquidators Holdings Inc LL, and Arrowhead Research Corp ARWR. Top Headline Infoblox Inc BLOX reported better-than-expected results for its fiscal first quarter and issued a strong outlook on Monday. The Santa Clara, California-based company reported a quarterly net loss of $1.5 million, or $0.03 per share, versus a year-ago net loss of $10.2 million, or $0.18 per share. Its non-GAAP earnings surged to $0.13 per share from $0.05 per share. Its total net revenue climbed 40.9 percent year-over-year to $94.0 million. However, analysts were expecting earnings of $0.06 per share on revenue of $87.58 million. Equities Trading UP HF Financial Corp. HFFC shares shot up 18 percent to $19.20 after Great Western Bancorp Inc GWB announced plans to acquire HF Financial Corp in a transaction valued at $19.70 per share. Shares of Infoblox Inc BLOX got a boost, shooting up 21 percent to $18.19 after the company reported better-than-expected results for its fiscal first quarter and issued a strong outlook. The company's board also announced a $100 million share buyback program. Mattress Firm Holding Corp MFRM shares were also up, gaining 9 percent to $53.73. Mattress Firm agreed to acquire HMK Mattress Holdings LLC, the holding company of Sleepy's and related entities, for $780 million. The company reported preliminary Q3 adjusted earnings of $0.80 to $0.82 per share, and sales growth of 50.7 percent. Equities Trading DOWN Breitburn Energy Partners LP BBEP shares tumbled 21 percent to $1.58 after the company reported the suspension of distribution for common units. Shares of Joy Global Inc. JOY were down 12 percent to $13.44. BofA Merrill Lynch's Ross Gilardi downgraded the rating on Joy Global from Neutral to Underperform. NQ Mobile Inc (ADR) NQ was down, falling 12 percent to $3.72. NQ Mobile reported Q3 adjusted earnings of $0.01 per ADS on sales of $87.9 million. Commodities In commodity news, oil traded down 0.72 percent to $41.35, while gold traded down 0.03 percent to $1,065.00. Silver traded up 0.06 percent Tuesday to $14.10, while copper rose 1.49 percent to $2.08. Eurozone European shares were mostly lower today. The eurozone's STOXX 600 fell 0.21 percent, the Spanish Ibex Index slipped 0.05 percent, while Italy's FTSE MIB Index dipped 0.13 percent. Meanwhile, the German DAX declined 0.70 percent, and the French CAC 40 slipped 0.49 percent, while U.K. shares rose 0.67 percent. Economics The final reading of the Markit manufacturing PMI rose to 52.80 in November, versus a flash reading of 52.60. US construction spending rose 1.00 percent in October, versus economists' expectations for a 0.50 percent growth. The ISM manufacturing index declined to 48.60 in November, versus a prior reading of 50.10. Economists were expecting a reading of 50.30.