Mid-Day Market Update: AutoNavi Shares Dip On Downbeat Results; Zale Surges

Midway through trading Wednesday, the Dow traded up 0.29 percent to 14,818.19 while the NASDAQ surged 0.39 percent to 3,592.50. The S&P also rose, gaining 0.32 percent to 1,635.69.

Joy Global

reported a 5.3% fall in its fiscal third-quarter earnings. Joy Global's quarterly profit fell to $183.2 million, or $1.71 per share, from $193.5 million, or $1.81 per share, in the year-ago period. Excluding one-time items, its earnings declined to $1.70 per share from $1.87 per share. Its sales declined 4.9% to $1.32 billion. However, analysts were expecting earnings of $1.37 per share on revenue of $1.18 billion. Joy Global reported a 36% drop in its orders.

Astex Pharmaceuticals

shot up 20.44 percent to $6.60 after the company announced

of SGI-110 AML Phase 2 study. Shares of Express

got a boost, shooting up 7.22 percent to $21.23 after the company reported a 6.8% rise in its

and lifted its full-year earnings forecast. Zale

was also up, gaining 19.71 percent to $10.73 after the company reported

comparable sales.

Shares of AutoNavi Holdings

were down 11.60 percent to $13.13 after the company reported downbeat Q2 results. Joy Global

shares tumbled 2.42 percent to $50.07 on

Qihoo 360 Technology Co

was down, falling 6.72 percent to $73.93 after the company priced

principal amount of convertible senior notes.

In commodity news,

to $109.99, while gold traded down 0.15 percent to $1,418.10. Silver traded down 1.09 percent Wednesday to $24.43, while copper fell 0.45 percent to $3.32.

European shares

today. The Spanish Ibex Index gained 0.01 percent, while Italy's FTSE MIB Index gained 1.02%. Meanwhile, the German DAX fell 1.06 percent and the French CAC 40 declined 0.25 percent while U.K. shares dropped 0.20 percent.

Mortgage applications fell 2.5% for the week ending August 23, 2013, according to data from the Mortgage Bankers Association. The pending home sales index declined 1.3% in July. Crude oil supplies rose 3 million barrels for the week ended August 23, the US Energy Information Administration reported. However, analysts were expecting a drop of 250,000 barrels.