Mid-Morning Market Update: Markets Open Higher; CSX Revenue Misses Estimates

Following the market opening Wednesday, the Dow traded up 0.14 percent to 16,540.12 while the NASDAQ gained 0.07 percent to 4,689.22. The S&P also rose, gaining 0.21 percent to 1,942.83. Leading and Lagging Sectors On Wednesday, energy shares surged by 1.47 percent. Meanwhile, top gainers in the sector included Alliance Holdings GP, L.P. AHGP, up 10 percent, and Pacific Ethanol Inc PEIX, up 7 percent. In trading on Wednesday, non-cyclical consumer goods & services shares tumbled by 0.07 percent. Meanwhile, top losers in the sector included SUPERVALU INC. SVU, down 8 percent, and Church & Dwight Co., Inc. CHD, down 3 percent. Top Headline CSX Corporation CSX reported better-than-expected earnings for the fourth quarter, but the company's revenue missed analysts' estimates. Equities Trading UP Cyberark Software Ltd CYBR shares shot up 22 percent to $46.20. Haaretz reported that Check Point Software Technologies Ltd. CHKP is in talks to acquire the company. Shares of Nobilis Health Corp HLTH got a boost, shooting up 22 percent to $2.92. Nobilis Health reported upbeat Q3 results and reported that it has completed earlier announced financial restatement. Qunar Cayman Islands Ltd QUNR shares were also up, gaining 15 percent to $43.75. Ctrip.com International, Ltd. (ADR) CTRP reported a deal to make certain investments via a limited partnership capital contribution in several non-U.S. investment entities. The investment entities "will acquire a significant minority stake of Qunar Cayman Islands Limited, or Qunar, from Qunar's shareholders through privately negotiated transactions, using cash and/or Ctrip's ordinary shares as purchase consideration," according to the release. Equities Trading DOWN Multi-Fineline Electronix, Inc. MFLX shares dropped 6 percent to $15.40 after the company reported weak preliminary Q4 revenue. Shares of Intelsat SA I were down 15 percent to $2.83. Goldman Sachs downgraded Intelsat from Neutral to Sell and lowered the price target from $7.00 to $3.00. SUPERVALU INC. SVU was down, falling around 8 percent to $5.51. SUPERVALU reported Q3 earnings of $0.16 per share on revenue of $4.11 billion. Commodities In commodity news, oil traded up 2.79 percent to $31.29, while gold traded down 0.04 percent to $1,084.80. Silver traded up 1.48 percent Wednesday to $13.96, while copper rose 0.46 percent to $1.97. Eurozone European shares were higher today. The eurozone's STOXX 600 gained 1.28 percent, the Spanish Ibex Index rose 1.35 percent, while Italy's FTSE MIB Index jumped 1.76 percent. Meanwhile, the German DAX jumped 0.95 percent, and the French CAC 40 climbed 1.35 percent, while U.K. shares gained 1.21 percent. Economics The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.