Mid-Afternoon Market Update: Trinity Industries Slides On Weak Forecast; Arista Networks Shares Jump

Toward the end of trading Friday, the Dow traded down 0.33 percent to 16,359.33 while the NASDAQ gained 0.25 percent to 4,498.77. The S&P also fell, dropping 0.18 percent to 1,914.37. Leading and Lagging Sectors On Friday, technology shares rose by 0.26 percent. Meanwhile, top gainers in the sector included Applied Materials, Inc. AMAT, up 9 percent, and Formula Systems (1985) Ltd. (ADR) FORTY up 19 percent. In trading on Friday, energy shares tumbled by 1.25 percent. Meanwhile, top losers in the sector included Southwestern Energy Company SWN, down 16 percent, and Calumet Specialty Products Partners, L.P CLMT, down 14 percent. Top Headline Deere & Company DE reported upbeat earnings for its fourth quarter, but the company lowered its fiscal-year guidance. Deere said that it earned $0.80 per share in the first quarter on revenue of $5.525 billion. Wall Street analysts were expecting the company to earn $0.70 per share on revenue of $4.94 billion. Deere expects its equipment sales to fall 8 percent in the second quarter and decrease about 10 percent for the fiscal year. Net income for the full year is now expected to be around $1.3 billion, versus earlier forecast of $1.4 billion. Equities Trading UP Arista Networks Inc ANET shares shot up 11 percent to $64.37 after the company reported upbeat results for its fourth quarter. Shares of The Chefs Warehouse, Inc CHEF got a boost, shooting up 18 percent to $18.36 on Q4 results. Chefs' Warehouse reported Q4 modified pro forma earnings of $0.26 per share on revenue of $299.7 million. Applied Materials, Inc. AMAT shares were also up, gaining 9 percent to $18.68 after the company reported better-than-expected earnings for its first quarter and issued a strong earnings forecast for the current quarter. Equities Trading DOWN TrueCar Inc TRUE shares dropped 18 percent to $4.76 after the company reported weaker-than-expected results for the fourth quarter and issued a downbeat sales forecast. Shares of Trinity Industries Inc TRN were down 23 percent to $16.30 after the company issued weak earnings guidance for 2016. Trinity Industries reported upbeat earnings for the fourth quarter, but the company's revenue missed analysts' expectations. Nordstrom, Inc. JWN was down, falling around 7 percent to $49.15 after the company reported weaker-than-expected results for its fourth quarter on Thursday. Commodities In commodity news, oil traded down 3.83 percent to $29.59, while gold traded up 0.49 percent to $1,232.30. Silver traded down 0.04 percent Friday to $15.46, while copper rose 0.22 percent to $2.08. Eurozone European shares closed lower today. The eurozone's STOXX 600 declined 0.77 percent, the Spanish Ibex Index fell 1.22 percent, while Italy's FTSE MIB Index declined 1.19 percent. Meanwhile, the German DAX dropped 0.80 percent, and the French CAC 40 slipped 0.39 percent, while U.K. shares fell 0.36 percent. Economics The consumer price index came in flat for January, versus economists' expectations for a 0.1 percent drop.