Mid-Afternoon Market Update: Netflix Drops Following Baird Downgrade; Lululemon Shares Rise

Toward the end of trading Monday, the Dow traded down 2.04 percent to 17,070.15 while the NASDAQ dipped 2.50 percent to 4,882.44. The S&P also fell, dropping 2.11 percent to 2,000.73.Leading and Lagging SectorsOn Monday, energy shares slipped by just 1.03 percent. Top gainers in the sector included Willbros Group Inc (NYSE: WG), FuelCell Energy Inc (NASDAQ: FCEL), and SunCoke Energy Inc (NYSE: SXC). In trading on Monday, financial shares dipped by 2.24 percent. Meanwhile, top losers in the sector included NewStar Financial Inc (NASDAQ: NEWS), down 9 percent, and SouFun Holdings Ltd (NYSE: SFUN), down 9 percent.Top Headline Tesla Motors Inc (NASDAQ: TSLA) reported total deliveries of 17,400 for 4Q2015, representing 78 percent y/y increase and 48 percent sequential growth. This comprised of 17,192 deliveries of Model S and 208 of Model X.The company delivered 50,580 vehicles for the full year.Equities Trading UP Unilife Corp (NASDAQ: UNIS) shares shot up 39 percent to $0.690 as the company announced an exclusivity agreement with Amgen, Inc. (NASDAQ: AMGN). Shares of Lululemon Athletica inc. (NASDAQ: LULU) got a boost, shooting up 6 percent to $55.67. Wells Fargo upgraded Lululemon from Market Perform to Outperform. Baxalta Inc (NYSE: BXLT) shares were also up, gaining 4 percent to $40.65 amid a recent report of Shire PLC (ADR) (NASDAQ: SHPG) acquisition interest. According to Saturday's report from Bloomberg, Shire is in advanced talks to acquire Baxalta for about $32 billion in cash and stock, excluding debt, according to people familiar with the matter.Equities Trading DOWN Amazon.com, Inc. (NASDAQ: AMZN) shares dropped 6 percent to $635.21. Analysts at Monness Crespi Hardt downgraded Amazon.com from Buy to Neutral.Shares of Tesla Motors Inc (NASDAQ: TSLA) were down 7 percent to $223.10 following Sunday's disclosure of auto deliveries. The company reported that it has delivered 17,400 vehicles during the fourth quarter, and 50,580 vehicles for the full year. Netflix, Inc. (NASDAQ: NFLX) was down, falling around 4 percent to $109.32. Analysts at Baird downgraded Netflix from Outperform to Neutral and lowered the price target from $128.00 to $115.00.CommoditiesIn commodity news, oil traded down 1.11 percent to $36.63, while gold traded up 1.39 percent to $1,074.90. Silver traded up 0.45 percent Monday to $13.87, while copper fell 2.60 percent to $2.08.EurozoneEuropean shares closed lower today. The eurozone's STOXX 600 declined 2.50 percent, the Spanish Ibex Index fell 2.42 percent, while Italy's FTSE MIB Index dropped 3.20 percent. Meanwhile, the German DAX dropped 4.28 percent, and the French CAC 40 slipped 2.47 percent, while U.K. shares fell 2.39 percent.EconomicsThe Markit manufacturing PMI dropped to 51.20 in December, versus a previous reading of 51.30. However, economists were projecting a reading of 51.10.The ISM manufacturing PMI slipped to 48.20 in December, versus a prior reading of 48.70. However, economists were expecting a reading of 49.00.US construction spending declined 0.40 percent in November, versus economists' expectations for a 0.70 percent growth.