Mid-Afternoon Market Update: Domino's Pizza Tumbles on Earnings as Array Rises

Toward the end of trading Tuesday, the Dow traded up 0.27 percent to 15,587.80 while the NASDAQ dropped 0.38 percent to 3,586.91. The S&P also fell, declining 0.04 percent to 1,694.52.

E.I. DuPont de Nemours & Co

reported a drop in its second-quarter net income. DuPont's quarterly net profit fell to $1.03 billion, or $1.11 per share, from $1.17 billion, or $1.23 per share, in the year-earlier quarter. Its adjusted operating earnings came in at $1.28 per share. Its revenue declined to $10 billion from $10.21 billion. However, analysts were projecting earnings of $1.27 per share on revenue of $10.04 billion.

Sourcefire

shot up 27.79 percent to $75.51 after Cisco

announced its plans to acquire the company for $2.7 billion. Shares of CapitalSource

got a boost, shooting up 21.06 percent to $11.90 after the bank agreed to be bought by PacWest Bancorp

for $2.29 billion in cash. Array BioPharma

was also on the rise, gaining 7.38 percent to $5.53 after it released some mid-stage study results and Piper Jaffray raised its price target on the company.

Shares of Domino's Pizza

were down 6.89 percent to $59.21 despite beating on the top and bottom lines in its earnings report Tuesday morning. Penn National Gaming

was down, falling 7.45 percent to $49.97 on Q2 results. Waters

shares tumbled 5.98 percent to $99.10 after the company reported downbeat Q2 results.

In commodity news, oil traded up 0.08 percent to $107.00, while gold traded down 0.59 percent to $1,343.10. Silver traded down 0.44 percent Tuesday to $20.46, while copper rose 0.91 percent to $3.21.

European shares were mostly lower. The Spanish Ibex Index rose 1.41 percent and the Italian FTSE MIB Index dropped 0.05 percent. Meanwhile, the German DAX fell 0.22 percent and the French CAC 40 declined 0.43 percent while U.K. shares tumbled 0.14 percent.

The ICSC-Goldman Sachs store sales index increased 1.4% in the week ended Saturday versus the earlier week. The Johnson Redbook Retail Sales Index rose 0.9% for the first two weeks of July versus June. US home prices climbed 0.7% in May versus the prior month, the Federal Housing Finance Agency reported. However, home prices increased 7.3% y/y. The Richmond Fed manufacturing index declined to -11.00 in July, versus a prior reading of 8.00. However, economists were expecting a reading of 9.00. The Treasury is set to auction 2-year notes.