Midway through trading Tuesday, the Dow traded up 1.55 percent to 24,351.57 while the NASDAQ climbed 1.27 percent to 7,038.31. The S&P also rose, gaining 1.27 percent to 2,646.34.
Leading and Lagging Sectors;
On Tuesday, the energy shares climbed 2.82 percent. Meanwhile, top gainers in the sector included Keane Group, Inc. FRAC 9.64%, up 9 percent, and Abraxas Petroleum Corporation AXAS 10.73%, up 9 percent.
In trading on Tuesday, utilities shares fell 0.17 percent.
VeriFone Systems, Inc. PAY 51.93% agreed to sell itself. VeriFone agreed to be acquired by Francisco Partners, a technology-focused private equity firm for $23.04 per share, or $3.4 billion which includes Verifone’s net debt.
Equities Trading UP;
VeriFone Systems, Inc. PAY 51.93% shares shot up 52 percent to $22.82 after the company agreed to be acquired by Francisco Partners for $3.4 billion in cash.
Shares of Spectrum Pharmaceuticals, Inc. SPPI 30.52% got a boost, shooting up 24 percent to $18.12. Spectrum Pharmaceuticals reported update of MD Anderson’s Phase 2 Data studying poziotinib in EGFR Exon 20 Mutant Non-Small Cell Lung Cancer patients.
Tandem Diabetes Care, Inc. TNDM 18.01% shares were also up, gaining 18 percent to $6.7298 after the company reported preliminary results for its first quarter.
Equities Trading DOWN;
vTv Therapeutics Inc. VTVT 75.63% shares dropped 73 percent to $0.87. vTv Therapeutics announced Monday after the close that results from Part A of its late-stage study of an investigational medication to treat Alzheimer’s disease did not meet either co-primary endpoint.
Shares of New Age Beverages Corporation NBEV 18.99% were down 18 percent to $1.715 after announcing a common stock offering.
Tupperware Brands Corporation TUP 11.1% was down, falling around 11 percent to $42.205 after the company lowered its earnings forecast for the first quarter.
In commodity news, oil traded up 2.13 percent to $64.77 while gold traded up 0.13 percent to $1,341.90.
Silver traded up 0.31 percent Tuesday to $16.58, while copper rose 1.62 percent to $3.127.
European shares were higher today. The eurozone’s STOXX 600 climbed 0.60 percent, the Spanish Ibex Index climbed 0.02 percent, while Italy’s FTSE MIB Index gained 0.43 percent. Meanwhile the German DAX climbed 1.06 percent, and the French CAC 40 rose 0.65 percent while U.K. shares rose 0.84 percent.
The NFIB small business optimism index declined to 104.7 for March.
The Producer Price Index rose 0.3 percent for March, versus economists’ expectations for a 0.1 percent growth.
U.S. wholesale inventories gained 1 percent for February.
The Treasury will auction 3-year notes at 1:00 p.m. ET.