Mid-Day Market Update: US Stocks Drop; TIBCO Shares Surge On Upbeat Results

Midway through trading Friday, the Dow traded down 0.48 percent to 15,562.25 while the NASDAQ declined 0.14 percent to 3,783.93. The S&P also fell, dropping 0.41 percent to 1,715.23.

Darden Restaurants

reported a

and announced the retirement of its president and chief operating officer. Darden's quarterly earnings fell to $70.2 million, or $0.53 per share, from $110.8 million, or $0.85 per share, in the year-earlier period. However, analysts were projecting a profit of $0.70 per share. Its sales climbed to $2.16 billion, missing estimates of $2.19 billion.

Sarepta Therapeutics

shot up 15.09 percent to $42.23 on failure of GlaxoSmithKline, Prosensa duchenne muscular dystrophy treatment. Shares of TIBCO Software

got a boost, shooting up 3.41 percent to $26.11 after the company reported better-than-expected third-quarter results. Shutterstock

was also up, gaining 11.89 percent to $67.49 after the company

follow on offering of common stock at $60.00 per share.

Shares of AK Steel Holding

were down 6.08 percent to $4.17 after the company projected a wider loss for the third quarter. Darden Restaurants

shares tumbled 5.73 percent to $46.47 after the company reported a drop in its first-quarter profit. Navios Maritime Partners LP

down, falling 6.03 percent to $14.03 after the company priced its follow-on public offering of 5,000,000 common units.

In commodity news,

to $105.57, while gold traded down 2.21 percent to $1,339.10. Silver traded down 5.53 percent Friday to $22.01, while copper fell 0.75 percent to $3.32.

European shares

today. The Spanish Ibex Index gained 0.20 percent, while Italy's FTSE MIB Index fell 0.49 percent. Meanwhile, the German DAX dropped 0.21 percent and the French CAC 40 fell 0.06 percent while U.K. shares declined 0.44 percent.

On the economics calendar Friday, there is no important data due out.