U.S. indices are recovering from their early struggles Tuesday morning, led by the Nasdaq, which was up around 1% midday. The S&P 500 and Dow Jones Industrial Average were both about 0.5% higher.
The indices were able to bounce back despite headwinds from falling commodity prices due to continuing supply concerns. Brent crude futures for May delivery were down $1.14 to $39.13 per barrel while West Texas crude for May delivery was also falling, $1.17 to $38.22 per barrel.
Kuwait announced on Tuesday that it agreed to resume production with Saudi Arabia at the jointly operated Khaji field, which shut down in October 2014 for environmental reasons.
SunEdison (SUNE) has been the biggest loser Tuesday, with the solar energy company dropping 50% on nearly triple its normal volume after the company said that there was substantial risk that it would seek bankruptcy protection soon due to liquidity issues. TerraForm Global also said that it would follow its parent company in delaying the release of its annual fiscal report.
Shares of Chipotle Mexican Grill (CMG) were falling more than 4% midday after analysts at Wedbush lowered the company's rating to "Underperform" from "Neutral," saying that its current valuation was overly optimistic. The firm also cut its price target on CMG to $400 from $450.
Yahoo! (YHOO) was climbing after the company set an April 11 deadline for preliminary bids for its web business and Asian assets, according to the Wall Street Journal. Based on the April deadline, Yahoo! could finalize a deal by June or July, the Journal said.
Lennar (LEN) shares were gaining after the homebuilder topped analysts' first-quarter top- and bottom-line estimates. The company saw double-digit growth in home sales during the period, and had net income of $144.1 million.
Apple (AAPL) -- an Action Alerts PLUS holding -- was rising after the Justice Department dropped its suit against the company as the FBI was successful in unlocking an iPhone that belonged to one of the terrorists in the San Bernardino shootings last year.
Finally, Transocean (RIG) shares were declining nearly 6% on no new news, as the company's stock continues to be tethered to crude prices.