Mid-Morning Market Update: Markets Open Lower; Tesla Motors Delivers 17,400 Vehicles in Fourth Quarter

Following the market opening Monday, the Dow traded down 2.33 percent to 17,019.13 while the NASDAQ dipped 2.67 percent to 4,873.47. The S&P also fell, dropping 2.19 percent to 1,999.20. Leading and Lagging Sectors On Monday, energy shares slipped by just 0.2 percent. Top gainers in the sector included W&T Offshore, Inc. WTI, Hallador Energy Co HNRG, and Denbury Resources Inc. DNR. In trading on Monday, technology shares dipped by 2.34 percent. Meanwhile, top losers in the sector included Perion Network Ltd PERI, down 13 percent, and NetEase Inc (ADR) NTES, down 9 percent. Top Headline Tesla reported total deliveries of 17,400 for 4Q2015, representing 78 percent y/y increase and 48 percent sequential growth. This comprised of 17,192 deliveries of Model S and 208 of Model X. The company delivered 50,580 vehicles for the full year. Equities Trading UP Unilife Corp UNIS shares shot up 77 percent to $0.875 as the company announced a exclusivity agreement with Amgen, Inc. AMGN. Shares of X T L Biopharmaceuticals Ltd (ADR) XTLB got a boost, shooting up 14 percent to $1.71 after the company reported that it has filed an ADR offering. Baxalta Inc BXLT shares were also up, gaining 3 percent to $40.10 following Bloomberg report of a potential Shire PLC (ADR) SHPG offer of as much as $48 per share. Equities Trading DOWN Canadian Solar Inc. CSIQ shares dropped 4 percent to $27.90 after the company reported a $100 million at-the-market offering of common shares. Shares of Tesla Motors Inc TSLA were down 6 percent to $225.68 following Sunday's disclosure of auto deliveries. The company reported that it has delivered 17,400 vehicles during the fourth quarter, and 50,580 vehicles for the full year. Netflix, Inc. NFLX was down, falling around 7 percent to $106.56. Analysts at Baird downgraded Netflix from Outperform to Neutral and lowered the price target from $128.00 to $115.00. Commodities In commodity news, oil traded up 2.02 percent to $37.79, while gold traded up 1.62 percent to $1,077.40. Silver traded up 2.41 percent Monday to $14.14, while copper fell 2.41 percent to $2.08. Eurozone European shares were lower today. The eurozone's STOXX 600 declined 2.28 percent, the Spanish Ibex Index fell 2.02 percent, while Italy's FTSE MIB Index dropped 2.52 percent. Meanwhile, the German DAX dropped 3.89 percent, and the French CAC 40 slipped 2.29 percent, while U.K. shares fell 2.17 percent. Economics The Markit manufacturing PMI dropped to 51.20 in December, versus a previous reading of 51.30. However, economists were projecting a reading of 51.10. The ISM manufacturing PMI slipped to 48.20 in December, versus a prior reading of 48.70. However, economists were expecting a reading of 49.00. US construction spending declined 0.40 percent in November, versus economists' expectations for a 0.70 percent growth.