Mid-Afternoon Market Update: NASDAQ Down Over 3%; TTM Technologies Shares Gain Following Q4 Results

Toward the end of trading Friday, the Dow traded down 1.46 percent to 16,176.20 while the NASDAQ dropped 3.11 percent to 4,369.70. The S&P also fell, dropping 1.88 percent to 1,879.42.

On Friday, utilities shares fell by just 0.2 percent. Meanwhile, top gainers in the sector included

, up 3 percent, and

up 3 percent. In trading on Friday, technology shares tumbled by 3.35 percent. Meanwhile, top losers in the sector included

, down 42 percent, and

, down 24 percent.

reported better-than-expected results for its fourth quarter, but the company issued a weak forecast for the first quarter. The company outlined fiscal year 2016 non-GAAP EPS of $3.05-$3.20 and $3.6-$3.65 billion in revenue, a far cry from $3.67 EPS and $3.91 billion estimates. In terms of Q4 earnings, the company reported non-GAAP EPS of $0.94, beating expectations of $0.78.

shares shot up 37 percent to $22.47 after the company agreed to be acquired by Suzhou Dongshan Precision Manufacturing Co., Ltd. for $23.95 share in cash. MFLEX reported Q4 earnings of $0.41 per share on revenue of $169 million. Shares of

got a boost, shooting up 18 percent to $6.28 after the company reported better-than-expected Q4 results.

shares were also up, gaining 72 percent to $0.972 after the company agreed to sell itself to

.

shares dropped 56 percent to $0.530 after the company reported plans to explore strategic alternatives related to its capital structure. Shares of

were down 47 percent to $43.02. Tableau Software posted upbeat results for the fourth quarter on Thursday. According to Mizuho's Abhey Lamba, the company missed license revenue estimates.

was down, falling around 42 percent to $110.68. LinkedIn reported better-than-expected results for its fourth quarter, but the company issued a weak forecast for the first quarter.

In commodity news, oil traded down 0.19 percent to $31.66, while gold traded up 0.03 percent to $1,157.90. Silver traded down 0.51 percent Friday to $14.78, while copper fell 1.71 percent to $2.10.

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.87 percent, the Spanish Ibex Index surged 0.37 percent, while Italy's FTSE MIB Index declined 2.13 percent. Meanwhile, the German DAX fell 1.14 percent, and the French CAC 40 slipped 0.66 percent, while U.K. shares fell 0.86 percent.

The U.S. economy added 151,000 new jobs in January, while the unemployment rate declined to 4.9 percent. However, economists were projecting an addition of 190,000 nonfarm jobs. The U.S. trade deficit widened 2.7 percent to $43.4 billion in December, compared to $42.2 billion in November. U.S. exports declined 0.3 percent to $181.5 billion, while imports increased 0.3 percent to $224.9 billion in December.