Mid-Day Market Update: NASDAQ Tumbles 1.8%; SYNNEX Shares Gain After Upbeat Results

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Midway through trading Friday, the Dow traded down 0.21 percent to 16,537.78 while the NASDAQ declined 1.80 percent to 4,161.45. The S&P also fell, dropping 0.44 percent to 1,880.55.
Leading and Lagging Sectors
Utilities sector gained 1.12 percent, with Companhia Paranaense de Energia
ELP
moving up 4.3 percent to gain the top spot. Among leading sector stocks, gains came from Companhia de Saneamento Basico do Estado de Sao Paulo
SBS
, CPFL Energia SA
CPL
and Companhia Energética de Minas Gerais SA
CIG
. Technology sector was the leading decliner in the US market today. Top losers in the sector included Constant Contact
CTCT
, off 8.1 percent, and Ku6 Media Co
KUTV
, down 9.1 percent.
Top Headline
CarMax
KMX
reported
weaker-than-expected
fiscal fourth-quarter results and increased its share-buyback plan by $1 billion. CarMax's quarterly profit fell to $99.2 million, or $0.44 per share, versus a year-ago profit of $107.2 million, or $0.46 per share. Its revenue climbed 8.8% to $3.08 billion. However, analysts were expecting earnings of $0.53 per share on revenue of $3.12 billion.
Equities Trading UP

SYNNEX
SNX
shares shot up 24.30 percent to $77.59 after the company reported better-than-expected fiscal first-quarter results and issued a strong forecast for the fiscal second quarter. For the current quarter, Synnex expected earnings of $1.34 to $1.38 per share on revenue of $3.1 billion to $3.2 billion. Shares of Mylan
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MYL
got a boost, shooting up 4.79 percent to $52.25 on reports of interest in Sweden's Meda. IMS Health Holdings
IMS
shares were also up, gaining 13 percent to $22.60 in their debut on the NYSE.
Equities Trading DOWN
Shares of Halozyme Therapeutics
HALO
were down 24.76 percent to $8.72 after the company announced the
temporary halt
of Phase 2 trial enrollment. CarMax
KMX
shares tumbled 2.69 percent to $46.28 after the company reported weaker-than-expected fiscal fourth-quarter results and increased its share-buyback plan by $1 billion. E*TRADE Financial
ETFC
was down, falling 6.36 percent to $20.75. E*TRADE has replaced the talking baby with Kevin Spacey, according to Bloomberg.
Commodities
In commodity news,
oil traded up 0.91 percent
to $101.20, while gold traded up 1.11 percent to $1,298.80. Silver traded up 1.41 percent Friday to $20.09, while copper rose 0.84 percent to $3.05.
Euro zone
European shares
were higher
today. The Spanish Ibex Index rose 0.88 percent, while Italy's FTSE MIB Index climbed 0.83 percent. Meanwhile, the German DAX surged 0.70 percent and the French CAC 40 jumped 0.79 percent while U.K. shares gained 0.59 percent.
Economics
The US economy added 192,000 jobs in March, while the unemployment rate remained steady at 6.7%. However, economists were estimating an addition of 200,000 nonfarm jobs in the month.
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Posted In: EarningsNewsGuidanceEurozoneFuturesForexGlobalEcon #sEconomicsIntraday UpdateMarketsMoversTech
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