Mid-Day Market Update: Crude Oil Down Over 3%; Keryx Biopharmaceuticals Shares Rise Following Positive Kidney Disease Drug Data

Midway through trading Tuesday, the Dow traded down 0.24 percent to 17,492.45 while the NASDAQ gained 0.17 percent to 4,774.98. The S&P also fell, dropping 0.19 percent to 2,033.24. Leading and Lagging Sectors On Tuesday, technology shares gained by 0.45 percent. Meanwhile, top gainers in the sector included Himax Technologies, Inc. (ADR) HIMX, up 10 percent, and CIBER, Inc. CBR, up 6 percent. In trading on Tuesday, energy shares dipped by 1.59 percent. Meanwhile, top losers in the sector included Seadrill Ltd SDRL, down 10 percent, and W&T Offshore, Inc. WTI, down 10 percent. Top Headline Lennar Corporation LEN reported better-than-expected earnings for its fiscal first quarter on Tuesday. Lennar reported quarterly earnings of $0.63 per share on revenue of $1.99 billion. However, analysts were expecting earnings of $0.52 per share on revenue of $1.86 billion. Equities Trading UP Keryx Biopharmaceuticals KERX shares shot up 15 percent to $5.21 after the company announced positive top-line results from its pivotal Phase 3 study of ferric citrate for the treatment of iron deficiency anemia in adults with non-dialysis dependent chronic kidney disease. Shares of Cleco Corporation CNL got a boost, shooting up 13 percent to $55.21 after the company confirmed that the Louisiana Public Service Commission (LPSC) voted to approve a sale of the company. NQ Mobile Inc (ADR) NQ shares were also up, gaining 6 percent to $5.03 after the company announced it has entered into a new agreement with its Chairman and Chief Operating Officer to acquire 96 million shares of the company's stock. Equities Trading DOWN Sunedison Inc SUNE shares dropped 51 percent to $0.622 in reaction to a Wall Street Journal report that the company is facing a Securities and Exchange Commission investigation. Shares of BioPharmX Corp BPMX were down 28 percent to $1.06 after the company announced the pricing of 3.6 million share common stock. Puma Biotechnology Inc PBYI was down, falling around 26 percent to $25.92 after the company issued an update to the timeline for the filing of a new drug application. Puma Biotechnology will submit the NDA for neratinib in mid-2016. According to a press release, the decision was based on the company's recent meetings with the U.S. Food and Drug Administration. Commodities In commodity news, oil traded down 3.20 percent to $38.13, while gold traded up 0.65 percent to $1,230.00. Silver traded up 0.07 percent Tuesday to $15.20, while copper fell 1.45 percent to $2.21. Eurozone European shares were mostly higher today. The eurozone's STOXX 600 rose 0.27 percent, the Spanish Ibex Index gained 0.26 percent, while Italy's FTSE MIB Index declined 0.24 percent. Meanwhile, the German DAX gained 0.13 percent, and the French CAC 40 gained 0.65 percent, while U.K. shares fell 0.26 percent. Economics The S&P/Case-Shiller home price index gained 5.7 percent year-over-year in January. The Conference Board's consumer confidence index gained to 96.20 in March, versus a prior reading of 92.20. However, economists were expecting a reading of 94.00.