The broader U.S. stock market averages traded in a narrow range and ended Tuesday mixed. At the closing bell, the Dow Jones Industrial Average moved 0.1% higher, while the S&P 500 ticked lower and the Nasdaq Composite fell 0.2%.
Energy and telecom names led the way lower, while financial and health care stocks rallied. Housing-related stocks also rallied in reaction to a 20.2% month-over-month increase reported in April housing starts.
Elsewhere, crude oil fell 3.6%, gold moved 1.4% lower and the U.S. dollar index (DXY) gained 1.1%. In addition, the yield of the benchmark 10-year U.S. Treasury note moved five basis points higher, to 2.283%.
Urban Outfitters (URBN) was the big earnings-related loser of the session, falling 15%. On the other hand, video game producer Take-Two Interactive (TTWO) rallied 18% in reaction to its quarterly results.
In addition, Yahoo! (YHOO) fell more than 7% in the final minutes of trading on reports the Internal Revenue Service may change spinoff rules. Any changes could impact the value of the company's position in Alibaba (BABA).
In after-hours action, Sarepta Therapeutics (SRPT) is trading 30% higher. The biotech firm said it will begin to submit a new drug application with the Food and Drug Administration this week for its Duchenne muscular dystrophy treatment, Eteplirsen. Meanwhile, Etsy (ETSY) is down 15% after reporting its first quarterly results as a public company.
Computer Sciences (CSC) is trading 5% higher after announcing a plan to separate its U.S. government and corporate businesses into two different companies. In addition, management will pay a special dividend of $10.50 a share.