In corporate news, Michael Kors ( KORS) shares jumped nearly 17% after the apparel company posted stronger-than-anticipated quarterly profit and hiked its full-year profit projection.

Estee Lauder Companies ( EL) was one of the biggest gainers on the S&P 500, surging more than 9% after the beauty products company beat quarterly profit estimates.

Dicks Sporting Goods ( DKS) shares were shed 4% after the company posted quarterly revenue that was in line with estimates and earnings that declined to $53.7 million in the second quarter from $73.8 million a year ago. Adjusted earnings came in just a penny above the Wall Street target.

Shares of Google ( GOOG) continued to gain ground following Monday's news of the company's agreement to acquire the Frommer's travel-guide business from John Wiley & Sons ( JWB) for a reported $25 million. The stock gained 1.3%.

Groupon ( GRPN), the daily deals site, beat analysts' quarterly estimates on the bottom line but revenue came in light. The stock tanked 27%.


-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

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