Mid-Day Market Update: Jones Energy Gains On Earnings Beat; Neff Shares Drop

Midway through trading Tuesday, the Dow traded down 0.55 percent to 16,980.61 while the NASDAQ declined 0.82 percent to 4,669.89. The S&P also fell, dropping 0.83 percent to 1,985.14.

On Tuesday, utilities shares rose by 0.39 percent. Top gainers in the sector included

,

, and

. In trading on Tuesday, basic materials shares dipped by 3.76 percent. Meanwhile, top losers in the sector included

, down 13 percent, and

, down 15 percent.

reported weaker-than-expected earnings for the fourth quarter. Dick's reported quarterly net income of $128.99 million, or $1.13 per share, versus $155.54 million, or $1.30 per share, in the year-ago period. Its sales gained around 3.7 percent to $2.24 billion. Analysts were expecting earnings of $1.15 per share on revenue of $2.28 billion. The company expects Q1 earnings of $0.48 to $0.50 per share, versus analysts' estimates of $0.54 per share.

shares shot up 17 percent to $2.22 as

announced the termination of merger agreement with Sunedison. Shares of

got a boost, shooting up 12 percent to $3.06 after the company reported better-than-expected Q4 earnings.

shares were also up, gaining 56 percent to $1.82. Town Sports reported Q4 earnings of $3.47 per share on revenue of $100.84 million.

shares dropped 63 percent to $3.17 after the company lowered its full-year earnings forecast. Shares of

were down 19 percent to $5.38 after the company reported downbeat Q4 earnings.

was down, falling around 27 percent to $2.61 as the company reported selected operating data for February. Basic Energy Services lowered its Q1 revenue forecast.

In commodity news, oil traded down 2.59 percent to $36.92, while gold traded up 0.49 percent to $1,270.20. Silver traded down 0.85 percent Tuesday to $15.50, while copper fell 3.11 percent to $2.21.

European shares were lower today. The eurozone's STOXX 600 fell 1.03 percent, the Spanish Ibex Index fell 0.53 percent, while Italy's FTSE MIB Index declined 0.46 percent. Meanwhile, the German DAX slipped 0.93 percent, and the French CAC 40 declined 1.21 percent, while U.K. shares fell 0.92 percent.

The NFIB small-business optimism index declined 1 point to 92.9 in February. However, economists were expecting a reading of 93.7.