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From Briefing.com: 4:10 pm : The stock market finished the second quarter on a subdued note with the major averages ending near their flat lines. The Nasdaq Composite (+0.2%) outperformed throughout the session, while the S&P 500 (-0.04%) surrendered its slim gain into the close. For the quarter, the S&P 500 jumped 4.7%, while the Nasdaq advanced 5.0%.

Equity indices displayed losses at the start, but the Nasdaq and S&P 500 returned into the green after a better than expected Pending Home Sales report for June (6.1% versus 1.5% Briefing.com consensus) crossed the wires. Despite the early rebound, the S&P 500 ran into resistance in the 1964 area, which served as the high point for the day. Unlike the Nasdaq and S&P 500, the Dow Jones Industrial Average (-0.2%) could not make a sustained move into the green.

Five of ten sectors posted gains with this year's leader-utilities-setting the pace. The countercyclical sector advanced 0.8%, extending its year-to-date gain to 16.4%. Unlike utilities, the remaining defensively-oriented groups ended in the red with consumer staples, health care, and telecom services down 0.04%, 0.4%, and 0.4%, respectively.

Meanwhile, the six cyclical groups also ended on a mixed note. Consumer discretionary (-0.1%), energy (unch), financials (unch), and industrials (-0.4%) lagged, while technology (+0.2%) and materials (+0.5%) held gains throughout the day.

Notably, the technology sector fueled the outperformance of the Nasdaq Composite with chipmakers ending on their highs. Micron (MU 32.95, +1.44) surged 4.6% after being added to the Focus List at Credit Suisse, while the broader PHLX Semiconductor Index rose 1.1% to secure a quarterly advance of 8.4%. In addition, the top-weighted tech component-Apple (AAPL 92.93, +0.95)-also did some grunt work, rallying 1.0%.

Elsewhere, the materials sector was underpinned by miners and steelmakers. The Market Vectors Steel ETF (SLX 47.72, +0.28) added 0.6%, while Market Vectors Gold Miners ETF (GDX 26.45, +0.47) spiked 1.8%.

On the downside, industrials could not climb into the green amid weakness in defense contractors (PHLX Defense Index -0.5%). Transports, however, displayed relative strength. The Dow Jones Transportation Average tacked on 0.3% to secure a quarterly advance of 8.3%.

Treasuries retreated in the morning, but the brief slip was retraced in its entirety over the course of the session. The 10-yr note added five ticks with its yield slipping two basis points to 2.52%.

Despite the narrow ranges, participation was solidly above average with nearly 800 million shares changing hands at the NYSE.

Economic data was limited to Chicago PMI for June and May Pending Home Sales:


Manufacturing activity decelerated in the Chicago region as the Chicago PMI fell to 62.6 in June from 65.5 in May. The Briefing.com consensus expected the index to fall to 61.0
The Chicago PMI has exceeded 60.0 for three consecutive months
Production strengthened in June as the related index increased to 70.1 from 64.4 on strong levels of backlogs
New orders growth faded in June as the related index fell to 65.1 from 70.2
Backlog levels dropped to 55.4 from 61.4
The Employment Index increased to 58.4 from 54.6
Pending home sales for May rose 6.1%, which was better than the 1.5% increase forecast by the Briefing.com consensus
The reading followed last month's revised increase of 0.5% (from 0.4%)

Tomorrow, the ISM Index for June (Briefing.com consensus 55.8) and May Construction Spending (consensus 0.4%) will be reported at 10:00 ET, while auto and truck makers will be reporting their June sales throughout the day.

S&P 500 +6.1% YTD
Nasdaq Composite +5.5% YTD
Dow Jones Industrial Average +1.5% YTD
Russell 2000 +2.6% YTD

DJ30 -25.24 NASDAQ +10.25 SP500 -0.73 NASDAQ Adv/Vol/Dec 1546/1.70 bln/1193 NYSE Adv/Vol/Dec 1837/776.3 mln/1216 3:35 pm :

Grains including corn, soybeans and wheat sold off today following the USDA annual acreage report and quarterly grain stocks report results
July corn fell 25 cents (or -5.7%) to $4.17/bushel, July wheat fell 17 cents (or -2.9%) to $5.76/bushel, July soybeans fell 49 cents (or -3.6%) to $13.28/bushel
Crude oil futures extended losses last week, closing $0.43 today to $105.37/barrel
Gold and silver slowly climbed higher off of morning lows.
Aug gold ended the session $2.30 higher at $1322.30/oz. July silver fell $0.11 at $21.03/oz, but erased most losses
Natural gas rallied this morning and finished 3 cents higher at $4.47/MMBtu
Copper rallied this morning during pit trading, rising as high as $3.21/lb. Copper ended at $3.20, up $0.03.

4:31 pm Rudolph Tech announces ruling in litigation with ITC: Supreme Court denies Write of Certiorari (:RTEC) : Co announced a ruling by the U.S. Supreme Court in the patent infringement lawsuit brought by Integrated Technology Corporation (:ITC). The Supreme Court denied Rudolph's petition for writ of certiorari in Integrated Technology Corporation et al. v. Rudolph Technologies, Inc., in which Rudolph appealed the ruling by the U.S. Court of Appeals for the Federal Circuit affirming a jury's award of $7.68 million for the infringement of ITC's patent by probe card test and analysis products sold prior to Rudolph's acquisition of the relevant product lines. In addition to the $4.3 million accrued by the Company for this litigation, Rudolph will pay ITC an additional $6.3 million to satisfy the judgment and related interest charges. While attorney fees in the amount of an additional $3.25 million continue to be contested, Rudolph has reserved for the full amount.

"We are disappointed with this ruling, but are reconciled to the result. With this decision, Rudolph looks toward moving forward once this litigation is fully resolved," said Robert Koch, Rudolph's vice president and general counsel.

4:06 pm Universal Display announces expanded evaluation agreement with BOE Technology Group (:OLED) : Co announces an expanded evaluation agreement with BOE Technology. Under this agreement, Universal Display will broaden its collaboration with BOE and supply additional highly efficient phosphorescent OLED (:PHOLED) materials for display applications. With recent demonstrations of OLED TVs by major manufacturers and its growing usage in mobile devices, by 2020, according to NPD DisplaySearch, OLED shipments are expected to reach 540 million units as OLED revenues hit $26.9 billion.

4:06 pm Ingram Micro acquires Rollouts -- terms not disclosed (:IM) : Co announced an acquisition transaction with Rollouts, a Chaska, Minnesota based IT services co specializing in providing on-demand field technicians and rapidly-deployable workforces to businesses and IT solution providers throughout the United States and Canada. As an integral part of Ingram Micro Professional Services, Rollouts will build upon its specialization within key vertical markets including retail, healthcare, finance, education and the public sector, to empower Ingram Micro channel partners with the technical expertise and field-deployable resources needed to realize the promise of technology.

12:07 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

NTAP (36.97 +4.20%): Mentioned positively at Barron's; initiated with a Buy at Standpoint ResearchILMN (179.47 +3.92%): Co announced that it has entered into separate agreements with Biomnis, Genoma, and the Center for Human Genetics and Laboratory Diagnostics Martinsried, under which they will use the HiSeq 2500 and consumables from Illumina to develop and perform non-invasive prenatal testingMU (32.7 +3.78%): Added to Focuse List at Credit Suisse

Large Cap Losers AGN (170.23 -2.14%): Received a Complete Response Letter from the FDA for SEMPRANA (dihydroergotamine) for the treatment of migraine in adults; co also received FDA approval of OZURDEX as a new treatment option for diabetic macular edema in adult patients who have an artificial lens implant (pseudophakic) or who are scheduled for cataract surgeryCTXS (63.1 -1.72%): Mentioned cautiously at OTR GlobalBCS (14.59 -1.69%): Mentioned cautiously in blog article; continued weakness following the filing of fraud charges by the New York Attorney General

Mid Cap Gainers

MNKD (11.07 +10.67%): Strength following late Friday announcement of approval of AFREZZA for the treatment of diabetes; target raised to $15 from $12 at Brinson Patrick
PANW (84.6 +4.17%): Target raised to $105 from $90 at Morgan Stanley
CTRP (63.14 +3.88%): Target raised to $74 from $58 at Deutsche Bank

Mid Cap Losers

MBI (10.91 -5.00%): Downgraded to Neutral from Buy at BTIG Research
RMD (50.71 -3.34%): Mentioned cautiously in Barron's article
SUNE (22.55 -1.38%): Co announced the closing of a $155 mln non-recourse debt financing arrangement with the Overseas Private Investment Corporation, the Inter-American Development Bank, and CorpBanca

12:03 pm Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (185) outpacing new lows (13) (:SCANX) : Stocks that traded to 52 week highs: AAN, AAP, ABG, AEP, AES, AET, AGN, AGX, AKRX, AMP, AOSL, ASH, ATI, ATO, ATRI, AUO, AVA, AWH, AXAS, BBNK, BITA, BK, BLL, BLX, BMO, BPOP, CALM, CHTR, CI, CLR, CMS, CNI, CNK, CNL, CNP, CNQ, CNSL, CNW, CSCD, CSX, CTRP, CVCO, CVCY, CVE, CYT, DAN, DIS, DRTX, DVA, DVN, EDAP, EDE, EE, EEQ, ENVE, EPD, EPE, ERF, ETR, EXAC, FFNM, FNV, FOLD, FTNT, FWRD, GCI, GPI, GPRE, GRH, GWPH, HAL, HBI, HCLP, HK, HNH, HNP, HT, HUM, IBA, IDTI, IHG, IIN, INT, INTC, IRWD, JBLU, JNJ, JONE, KLAC, KO, LABL, LAD, LLY, LNBB, LNG, LNT, LOAN, LPL, LRCX, LUX, MAR, MDCI, MMYT, MNKD, MSL, MTDR, MTN, MWV, NAVI, NFX, NJR, NOV, NSH, NSIT, NTCT, NWE, NWN, PAG, PANW, PATK, PEB, PGH, PJC, POR, PPG, PPL, PPS, PQ, QEP, QEPM, REIS, RGEN, RGP, RH, RLJ, RPM, RRMS, RY, SHLM, SIMO, SJR, SLB, SLCA, SLF, SOHO, SPB, SPCB, SRT, ST, STKL, SUNE, SUPN, SUSS, TARO, TAX, TD, TE, TEG, TGP, THS, TRCB, TRIP, TROW, TRP, TRW, TTEC, TTWO, TWX, UDR, UGI, VAC, VC, VIPS, VNR, VVC, WBKC, WCN, WGP, WLDN, WR, WRB, WRES, WSM, WY, Z

Stocks that traded to 52 week lows: BEBE, BKJ, CGA, DGSE, GRVY, KIRK, MGT, NAUH, NEWL, PARN, RDEN, SODA, TWGP

ETFs that traded to 52 week highs: COW, EWC, EWT, FXB, IWF, IYH, NIB, OIH, PFF, PPH, QQQ, XLU

ETFs that traded to 52 week lows: VXX, VXZ

11:36 am Semiconductor Hldrs ETF sets new high of 49.52 just under last week's multi-year peak at 49.53 (:SMH) : Noted relative strength in the sector earlier with leadership in the group coming from: MU +3.9%, KLAC +2.3%, AMKR +2.1%, AMAT +1.1%, AMD +1%, SNDK +1%, LRCX +1%, NVDA +0.9%, XLNX +0.9%, LSCC +0.8^, ASML +0.8%.

8:03 am GT Advanced Tech. announces realignment of manufacturing, engineering and supply chain resources (:GTAT) :

In connection with these steps, co expects to recognize cash charges of approximately $1.8 mln and non-cash charges of approximately $11.6 mln over its second and third quarters.
Total one-time charges are expected to include approximately $4.5 mln related to asset impairments, $4.3 mln in facilities-related charges, $2.8 mln related to inventory and $1.8 mln for severance costs in connection with the elimination of approximately 70 positions. These charges, which will be reflected in the company's GAAP results, are not expected to impact the company's non-GAAP financial results.7:01 am Canadian Solar announces 12.6 MW Solar Module supply agreement in Turkey (:CSIQ) : Co announced that it has recently signed a sales contract to supply 12.6MW of photovoltaic ("PV") modules to Kayseri Organized Industry Zone (:KOIZ) and a consortium of companies in KOIZ, (BESLER Tekstil San. ve Tic. A.S and HASCELIK Group of companies- Hascelik Cable, Coreal Cable and Metal Matris) for a solar power project located in Kayseri, Turkey.