Mid-Afternoon Market Update: Infosys Rises Following Q4 Results; Ixia Shares Slide

Toward the end of trading Friday, the Dow traded down 0.13 percent to 17,903.32 while the NASDAQ declined 0.10 percent to 4,940.96. The S&P also fell, dropping 0.09 percent to 2,080.95.

On Friday, utilities shares gained by 0.53 percent. Meanwhile, top gainers in the sector included

, up 5 percent, and

, up 4 percent. In trading on Friday, energy shares fell by 0.89 percent. Meanwhile, top losers in the sector included

, down 6 percent, and

, down 6 percent.

reported better-than-expected earnings for the first quarter on Friday. The bank reported a quarterly profit of $3.5 billion, or $1.10 per share. Its revenue declined 11 percent to $17.56 billion from $19.74 billion. However, analysts were expecting earnings of $1.03 per share on revenue of $17.46 billion.

shares shot up 46 percent to $9.08 on the company's announcement that the England-based National Institute for Health and Care Excellence (NICE) has recommended the company's Translarna (ataluren) for ambulatory patients that suffer from nonsense mutation Duchenne muscular dystrophy (nmDMD). Shares of

got a boost, shooting up 20 percent to $2.87 after the company announced it will present final data from a Phase 2 clinical study at the American Academy of Neurology (AAN) 2016 Annual Meeting. The company completed a Phase 2 six-month trial of its HOPEMD therapy in patients with oculopharyngeal muscular dystrophy (OPMD).

shares were also up, gaining 8 percent to $19.87 after the company reported its fourth-quarter results. Infosys said it earned $0.23 per share in the fourth quarter on revenue of $2.446 billion. Wall Street analysts were expecting the company to earn $0.23 per share on revenue of $2.43 billion.

shares dropped 37 percent to $0.367. SunEdison and certain of its first and second lien lenders entered into a confidentiality agreement in March in which certain information regarding the company was provided. SunEdison added that its ongoing negotiations with respect to potential financing transactions are still undergoing and there can be no assurance that any agreement will be reached. Shares of

were down 17 percent to $10.09 after the company lowered its outlook for the first quarter. Management said it now expects revenue between $108 million and $111 million, down from its previous projection of $121 million to $126 million. Non-GAAP earnings are expected to come in between $0.05 and $0.08 per share, down from a previous guidance of $0.10 to $0.14 per share.

was down, falling around 19 percent to $26.91 after the company issued a weak forecast for the third quarter.

In commodity news, oil traded down 2.19 percent to $40.59 while gold traded up 0.68 percent to $1,234.80. Silver traded up 0.75 percent Friday to $16.30, while copper fell 0.81 percent to $2.15.

European shares closed lower today. The eurozone's STOXX 600 declined 0.35 percent, the Spanish Ibex Index fell 0.12 percent, while Italy's FTSE MIB Index slipped 0.39 percent. Meanwhile, the German DAX dropped 0.42 percent, and the French CAC 40 slipped 0.36 percent, while U.K. shares fell 0.34 percent.

The Empire State manufacturing index increased to 9.6 for April, compared to 0.6 in March U.S. industrial production declined 0.50 percent for March, versus economists' expectations for a 0.10 percent drop. The University of Michigan's consumer sentiment index slipped to 89.70 in April, versus a prior reading of 91.00. Economists were expecting a reading of 92.00.