Top and bottom line misses on several headliners caused a concentrated selloff that took major exchanges lower.
- The Dow Jones Industrial Average plummeted 123.2 points, or 0.72 percent to close at 16,961.
- The S&P 500 dropped 9.6 points, or 0.48 percent to close at 1,978.
- The Nasdaq gave up 22.5 points, or 0.5 percent to close at 4,450.
Top Stories
Friday was filled with a barrage of analyst commentary on the week’s earnings reports, most notably Amazon (NASDAQ: AMZN) and Pandora (NASDAQ: P). Amazon saw its rating cut B Riley and Raymond James while five maintained previous calls. No major analysts changed their ratings of Pandora, but indicated that a second half pick up is likely.
Moving opposite of technology, basic materials shares rose 0.19 percent in trading on Friday. Top gainers in the sector included DRDGOLD (NYSE: DRD), up seven percent, and LyondellBasell Industries NV (NYSE: LYB), up 4.3 percent.
Stock Movers
Acacia Research (NASDAQ: ACTG) shares shot up 16.8 percent to $17.49 after the company ...
More...