The broader U.S. stock market averages added 0.4% to 0.65% across the board on Tuesday. Health care and energy names led the way higher on the session, while utilities lagged. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note fell 5.3 basis points to 2.401%.
Micron (MU) was the big winner, gaining 11% on takeover speculation. China-based Tsinghua Unigroup is reportedly interested in buying the memory producer for $23 billion. On the other hand, Navient (NAVI) fell more than 10% on a lower profit outlook.
In after-hours action, CSX (CSX) is trading 3% higher after posting better-than-expected earnings. Engine manufacturer Cummins (CMI) boosted its quarterly dividend 25% to $0.975 a share (3% yield). Investors at the close of trading on Aug. 18 will qualify for the payment on Sept. 1.
Looking ahead to Wednesday morning, Bank of America (BAC) and Delta Air Lines (DAL) headline the earnings calendar. On the economic front, we'll get a look at producer prices, industrial production and capacity utilization before the opening bell.