Mid-Day Market Update: Analogic Tumbles On Weak Outlook; BioCryst Shares Gain

Midway through trading Tuesday, the Dow traded up 0.39 percent to 16,670.76 while the NASDAQ surged 0.86 percent to 4,221.94. The S&P also rose, gaining 0.47 percent to 1,909.51.

Leading and Lagging Sectors Financial sector was the top gainer in the US market on Tuesday. Meanwhile, top gainers in the sector included Citizens (NYSE: CIA ), up 6.4 percent, and State Auto Financial (NASDAQ: STFC ), up 4.7 percent. In trading on Tuesday, energy shares were relative laggards, down on the day by about 0.34 percent.

Top losers in the sector included Frontline (NYSE: FRO ), down 16.7 percent, and Oiltanking Partners LP (NYSE: OILT ), off 8.3 percent.

Top Headline Pilgrim's Pride (NASDAQ: PPC ) offered to buy Hillshire Brands (NYSE: HSH ) in an all-cash transaction valued at $6.4 billion. Pilgrim's Pride will offer $45 per share in cash, representing a 24% premium to Hillshire's closing price of $36.23 on Friday.

Equities Trading UP BioCryst Pharmaceuticals (NASDAQ: BCRX ) shares shot up 8.94 percent to $9.81 following the announcement of OPuS-1 Phase 2a trial meeting primary and secondary endpoints.

Shares of SeaDrill (NYSE: SDRL ) got a boost, shooting up 1.95 percent to $37.08 following Monday's announcement of co-operation agreement with Rosneft.

The Hillshire Brands Company (NYSE: HSH ) shares were also up, gaining 21.72 percent to $45.06 on a $45.00 bid from Pilgrim's Pride (NASDAQ: PPC ).

Equities Trading DOWN Shares of Analogic (NASDAQ: ALOG ) were 11.30 percent to $68.22 after the company issued a downbeat Q3 forecast and lowered its FY14 revenue outlook.

Pinnacle Foods (NYSE: PF ) shares tumbled 6.67 percent to $31.05 on proposed Pilgrim's Pride (NASDAQ: PPC ) acquisition of Hilshire (NYSE: HSH ).

JinkoSolar Holding Co (NYSE: JKS ) was down, falling 4.06 percent to $24.81 after the company reported weaker-than-expected first-quarter earnings.

Commodities In commodity news, oil traded down 0.14 percent to $104.20, while gold traded down 1.84 percent to $1,268.10.

Silver traded down 1.90 percent Tuesday to $19.05, while copper rose 0.17 percent to $3.17.

Eurozone European shares were mostly higher today.

The eurozone's STOXX 600 gained 0.22 percent, the Spanish Ibex Index rose 0.20 percent, while Italy's FTSE MIB Index declined 0.42 percent.

Meanwhile, the German DAX climbed 0.47 percent and the French CAC 40 surged 0.06 percent while UK shares rose 0.38 percent.

Economics US durable goods-orders rose 0.8% in April, versus economists' expectations for a 0.8% drop.

The FHFA house price index rose 0.70% in March, versus economists' expectations for a 0.50% gain.

The S&P/Case-Shiller home price index increased 0.9% in March. However, home prices rose 12.4% y/y in March.

The flash reading of Markit PMI services index rose to 58.40 in May, versus a prior reading of 55.00.

The Conference Board's consumer confidence index rose to 83.00 in May, versus a prior reading of 82.30. However, economists were expecting a reading of 83.00.

The Richmond Fed manufacturing index came in at 7.00 in May, versus a previous reading of 7.00. However, economists were estimating a reading of 8.00.

The Dallas Fed general business activity index fell to 8.00 in May, versus a prior reading of 11.70. However, economists were projecting a reading of 9.50.

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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 Nasdaq, Inc.

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

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