Mid-Morning Market Update: Markets Mixed; J C Penney Sales Miss Estimates

Following the market opening Friday, the Dow traded down 0.10 percent to 17,702.62 while the NASDAQ climbed 0.24 percent to 4,748.91. The S&P also fell, droppning 0.04 percent to 2,063.23.

On Friday, the technology sector proved to be a source of strength for the market. Top gainers in the sector included

,

, and

. In trading on Friday, telecommunications services shares fell by 0.53 percent. Meanwhile, top losers in the sector included

, down 2 percent, and

, down 2 percent.

reported a narrower-than-expected Q1 loss, but missed analysts' sales estimates. JC Penney reported Q1 adjusted loss of $0.32 per share on revenue of $2.81 billion. However, analysts were expecting a loss of $0.38 per share on revenue of $2.92 billion.

shares shot up 13 percent to $40.17 after the company reported upbeat results for the first quarter and issued a strong revenue outlook for the current quarter. Shares of

got a boost, shooting up 29 percent to $3.12 as HTG Molecular Diagnostics reported Q1 net loss of $1.02 per share, versus a year-ago loss of $14.99 per share. The company reported an immuno-oncology research collaboration deal with

.

shares were also up, gaining 6 percent to $36.19 after the company reported stronger-than-expected results for its first quarter and raised its revenue forecast for 2016.

shares dropped 45 percent to $5.59 as the company lowered its FY16 sales forecast. The company also reported Q1 loss of $0.37 per share on revenue of $20.3 million. JP Morgan downgraded ConforMIS from Overweight to Neutral and lowered the price target from $18.00 to $8.00. Shares of

were down 26 percent to $1.29. EXCO Resources reported the formation of a special committee to explore strategic alternatives.

was down, falling around 15 percent to $38.46 as the company reported weaker-than-expected results for its first quarter and lowered its FY16 guidance.

In commodity news, oil traded down 1.09 percent to $46.19 while gold traded down 0.18 percent to $1,268.90. Silver traded down 0.54 percent Friday to $17.01, while copper rose 0.31 percent to $2.08.

European shares were mostly higher today. The eurozone's STOXX 600 fell 0.06 percent, the Spanish Ibex Index rose 0.35 percent, while Italy's FTSE MIB Index gained 0.35 percent. Meanwhile, the German DAX rose 0.45 percent, and the French CAC 40 gained 0.18 percent while U.K. shares fell 0.23 percent.

U.S. retail sales rose 1.3 percent in April, versus economists' expectations for a 1 percent growth. U.S. producer prices increased 0.2 percent in April. However, economists were expecting a 0.3 percent increase. U.S. business inventories rose 0.40 percent for March, versus economists' expectations for a 0.20 percent gain. The University of Michigan's consumer sentiment index rose to 95.80 in May, versus a prior reading of 89.00. Economists were expecting a reading of 90.00.