Mid-Day Market Update: Dow Falls Over 100 Points; Elizabeth Arden Shares Jump Following Acquisition News

Midway through trading Friday, the Dow traded down 0.64 percent to 17,619.59 while the NASDAQ declined 1.04 percent to 4,794.68. The S&P also fell, dropping 0.65 percent to 2,064.41. Leading and Lagging Sectors On Friday, energy shares rose by 0.74 percent. Top gainers in the sector included Teekay Offshore Partners L.P. TOO and SM Energy Co SM. In trading on Friday, technology shares tumbled by 1.26 percent. Meanwhile, top losers in the sector included Comtech Telecomm. Corp. CMTL, down 14 percent, and Synaptics, Incorporated SYNA, down 10 percent. Top Headline Smith & Wesson Holding Corp SWHC posted upbeat results for its fourth quarter and issued a strong forecast for the year. Fourth quarter EPS of $0.66 and revenue of $221.1 million (up 22.2 percent year-over-year) beat the Street's consensus by $0.12 and $6.55 million, respectively. Equities Trading UP Elizabeth Arden, Inc. RDEN shares shot up 49 percent to $13.83 as Revlon Inc REV agreed to acquire the company for $14.00 per share in cash, for an enterprise value of around $870 million. Shares of Sky Solar Holdings Ltd (ADR) SKYS got a boost, shooting up 13 percent to $3.61. Sky Solar Holdings reported a loss of $823 thousand or a low of $0.002 per share in the first quarter compared to a net income of $2.6 million or $0.01 per share in the year-ago quarter. Street estimated a loss of $0.06 a share. Teekay Offshore Partners L.P. TOO shares were also up, gaining 20 percent to $5.45. Teekay Offshore reported a $200 million private placement. Equities Trading DOWN GlycoMimetics Inc GLYC shares dropped 21 percent to $5.85. GlycoMimetics priced public offering of 3.3 million shares at $6.10 per share. Shares of Comtech Telecomm. Corp. CMTL were down 14 percent to $13.80. Comtech priced its 7.145 million share offering at $14.00 per share. Synaptics, Incorporated SYNA was down, falling around 10 percent to $54.50. Synaptics announced plans to reduce workforce by 160 jobs, according to form 8-K. Commodities In commodity news, oil traded up 2.62 percent to $47.42 while gold traded down 0.61 percent to $1,290.50. Silver traded down 1.49 percent Friday to $17.35, while copper rose 0.39 percent to $2.06. Eurozone European shares were higher today. The eurozone's STOXX 600 climbed 1.30 percent, the Spanish Ibex Index rose 1.80 percent, while Italy's FTSE MIB Index jumped 3 percent. Meanwhile the German DAX gained 0.77 percent, and the French CAC 40 climbed 0.96 percent, while U.K. shares rose 1.23 percent. Economics U.S. housing starts declined 0.3 percent to an annual pace of 1.16 million in May. However, economists were projecting a 1.15 million pace.