Mid-Morning Market Update: Markets Edge Lower, Lions Gate Reports Q1 Profit

Following the

the Dow traded down 0.13 percent to 15,478.79 while the NASDAQ declined 0.03 percent to 3,668.03. The S&P also fell, dropping 0.10 percent to 1,695.84.

Yesterday, Lions Gate Entertainment

swung to a profit in its fiscal first quarter. Lions Gate posted a quarterly net income of $13.6 million, or $0.10 per share, versus a year-ago loss of $44.2 million, or $0.33 per share. Excluding one-time items, its adjusted earnings came in at $0.18 per share. Its revenue surged 21% to $569.7 million. However, analysts were expecting a profit of $0.04 per share on revenue of $524 million.

Ubiquiti Networks

shot up 35.57 percent to $28.74 after the company reported upbeat Q4 results and issued strong Q1 forecast. Shares of BlackBerry

got a boost, shooting up 6.88 percent to $9.87 on

priceline.com

was also up, gaining 5.79 percent to $987.84 after the company reported

results.

Shares of Dendreon

were down 18.52 percent to $3.74 after the company reported downbeat Q2 results. Molycorp

shares tumbled 13.36 percent to $6.42 after the company reported wider-than-expected second-quarter loss. Web.com Group

was down, falling 7.52 percent to $26.04 after the company priced $225.0 million aggregate principal amount of 1.00% senior convertible notes due 2018.

In commodity news,

to $104.48, while gold traded down 0.11 percent to $1,308.50. Silver traded up 0.26 percent Friday to $20.25, while copper rose 0.60 percent to $3.29.

European

today. The Spanish Ibex Index gained 0.67 percent and the Italian FTSE MIB Index surged 0.16 percent. Meanwhile, the German DAX gained 0.32 percent and the French CAC 40 rose 0.20 percent while U.K. shares gained 0.71 percent.

Wholesale inventories dropped 0.2% in June, after a 0.6% fall in May. However, economists were expecting a 0.4% rise.