Mid-Afternoon Market Update: Markets Trying to Close in the Green; SolarCity Falls

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Midway through trading Tuesday, the Dow traded down 0.34 percent to 15,206.10, while the NASDAQ fell 0.37 percent to 3,452.61. The S&P was also up, falling 0.33 percent to 1,634.86.

Top Headline Dollar General (NYSE: DG ) reported a 3% rise in its first-quarter profit.

Dollar General's quarterly profit surged to $220.08 million, or $0.67 per share, versus $213.41 million, or $0.63 per share, in the year-ago period. Its adjusted earnings came in at $0.71 per share.

Its revenue surged to $4.24 billion from $3.90 billion, while same-store sales rose 2.6%. However, analysts were estimating earnings of $0.71 per share on revenue of $4.24 billion. Dollar General projects full-year adjusted earnings of $3.15 to $3.22 per share, versus its earlier forecast of $3.15 to $3.30 per share.

Equities Trading UP ExactTarget (NYSE: ET ) shot up, gaining 52.49 percent to $33.70, after salesforce.com (NYSE: CRM ) announced its plans to buy the company for $2.34 billion.

Shares of Monster Beverage (NASDAQ: MNST ) rose steadily on Tuesday's session, gaining 10.12 percent to $59.40 after the company's CEO stated that the company is improving the safety of its product.

Infinity Pharmaceuticals (NASDAQ: INFI ) got a boost, shooting up 22.61 percent to $20.17 on a report from Piper Jaffray defending the company.

Equities Trading DOWN Dollar General (NYSE: DG ) was down, falling 7.66 percent to $49.44 on Q1 results.

Array BioPharma (NASDAQ: ARRY ) was down 8.48 percent to $5.30 after the company announced proposed public offering of convertible debt.

Shares of SolarCity (NASDAQ: SCTY ) were also down, falling 8.90 percent to $37.16 despite news of an EU tariff on Chinese solar panels starting on June 6th.

Commodities In commodity news, oil traded down 0.05 percent to $93.40, while gold dropped 1.00 percent to $1,397.50.

Silver traded down 1.14 percent Tuesday to $22.48, while copper rose 0.90 percent to $3.36.

Eurozone European shares traded higher in early trade after the positive Spanish economic news and also on the ESM news. Spain's unemployment count, those collecting unemployment benefits, declined 98,265 in May to 4.89 million, a drop of almost 2 percent.

The Spanish Ibex Index rose 0.92 percent and the Italian FTSE MIB Index gained 0.29 percent. Meanwhile, the German DAX climbed 0.03 percent and the French CAC 40 rose 0.20 percent while U.K. shares gained 0.37 percent.

Economics US trade deficit widened 8.5% to $40.3 billion in April, versus a revised $37.1 billion in March. However, economists were expecting the deficit to rise to $41.5 billion. US exports increased 1.2% to $187.4 billion in April, while imports rose 2.4% to $227.7 billion.

The ICSC/Goldman Sachs Retail Chain Store Sales Index increased 1.9% in the week ended Saturday versus the prior week.

The Johnson Redbook Retail Sales Index gained 0.6% in the first four weeks of May versus April.

Fed members Sarah Bloom Raskin, Esther George, and Richard Fischer are expected to speak.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities , Economy , International

Referenced Stocks: ARRY , CRM , DG , ET , INFI

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