Mid-Afternoon Market Update: Wingstop Shares Surge in Stock Market Debut; ExOne Shares Tumble

Toward the end of trading Friday, the Dow traded down 0.92 percent to 17,874.23 while the NASDAQ declined 0.66 percent to 5,049.07. The S&P also fell, dropping 0.80 percent to 2,092.07.

Leading and Lagging Sectors
Friday afternoon, telecommunications services shares slipped by just 0.25 percent. Meanwhile, top gainers in the sector included Lumos Networks Corp LMOS, up 3 percent, and NQ Mobile Inc (ADR) NQ, up 2 percent.
In trading on Friday, healthcare shares fell by 1 percent. Meanwhile, top losers in the sector included DURECT Corporation DRRX, down 6 percent, and GenMark Diagnostics, Inc GNMK, off 5 percent.

Top Headline
On Thursday, Twitter Inc TWTR reported that its CEO Dick Costolo, will resign as of July 1.
Twitter also named Jack Dorsey its co-founder and current chairman, as interim CEO pending a more permanent replacement for Costolo.
The company also reaffirmed its Q2 forecast for revenue of $470 million to $485 million and adjusted EBITDA of $97 million to $102 million.
Equities Trading UP
Restoration Hardware Holdings Inc RH shares shot up 2 percent to $96.51. Restoration Hardware reported better-than-expected results for the first quarter and raised its forecast for the year. However, the company issued a weak forecast for the current quarter.
Shares of Wingstop Inc WING got a boost, shooting up 59 percent to $30.25 following the restaurant chain's initial public offering launch Friday. The company priced its 5.8 million shares in the offer earlier at $19, well above a previously indicated range of $12 to $14.
ITT Educational Services, Inc. ESI shares were also up, gaining 20 percent to $4.96. ITT Educational Services reported Q1 GAAP earnings of $0.44 per share on revenue of $230 million.

Equities Trading DOWN
Agios Pharmaceuticals Inc AGIO shares tumbled 10 percent to $110.72 after the company reported new, final data from its Phase 1 multiple ascending dose study for AG-348, an investigational medicine for pyruvate kinase deficiency.
Shares of ExOne Co XONE were down 7 percent to $12.23 after the company reported wider loss for the first quarter.
LeapFrog Enterprises, Inc. LF was down, falling 24 percent to $1.57. LeapFrog reported a Q4 loss of $0.56 per share on revenue of $33.9 million.

Commodities
In commodity news, oil traded down 1.07 percent to $60.12, while gold traded down 0.08 percent to $1,179.50.
Silver traded down 0.69 percent Friday to $15.85, while copper rose 0.49 percent to $2.68.

Euro zone
European shares closed lower today. The eurozone’s STOXX 600 declined 0.92 percent, the Spanish Ibex Index slipped 1.13 percent, while Italy’s FTSE MIB Index fell 1.27 percent. Meanwhile, the German DAX dropped 1.20 percent, and the French CAC 40 fell 1.41 percent while UK shares fell 0.90 percent.

Economics
U.S. producer prices increased 0.5 percent in May, versus economists’ expectations for a 0.4 percent growth. U.S. core PPI gained 0.10 percent, matching consensus estimate.
The preliminary reading of the University of Michigan consumer sentiment index climbed to 94.60 in June, versus a prior reading of 90.70. However, economists were expecting a reading of 91.50.