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Toward the end of trading Friday, the Dow traded down 0.96% to 28,940.09 while the NASDAQ fell 2.09% to 9,547.08. The S&P also fell, dropping 1.27% to 3,330.30.
Leading and Lagging Sectors
Consumer staples shares climbed 0.4% on Friday. Meanwhile, top gainers in the sector included Sprouts Farmers Market, Inc. (NASDAQ:SFM), up 15%, and New Age Beverages Corporation (NASDAQ:NBEV), up 8%.
In trading on Friday, information technology shares fell 2.4%.
Top Headline
Deere & Company (NYSE:DE) reported stronger-than-expected results for its first quarter on Friday.
Deere posted quarterly earnings of $1.63 per share, exceeding analysts’ estimates of $1.26 per share. Its quarterly sales came in at $7.631 billion, beating expectations of $6.42 billion.
Equities Trading UP
Trans World Entertainment Corporation (NASDAQ:TWMC) shares shot up 95% to $6.81 after the company disclosed that its subsidiary etailz entered into a deal with Encina for $25 million 3-year secured revolving credit facility.
Shares of Ducommun Incorporated (NYSE:DCO) got a boost, shooting 31% to $55.85 after the company reported better-than-expected Q4 results. B. Riley upgraded Ducommun from Neutral to Buy and raised the price target from $55 to $60.
Dropbox, Inc. (NASDAQ:DBX) shares were also up, gaining 23% to $23.00 after the company reported stronger-than-expected results for its fourth quarter and disclosed a $600 million buyback program.
Equities Trading DOWN
Document Security Systems, Inc. (NYSE:DSS) shares tumbled 27% to $0.1786. Document Security Systems priced its 22.2 million share common stock offering at $0.18 per share.
Shares of Lianluo Smart Limited (NASDAQ:LLIT) were down 27% to $0.62 after the company priced a 3.5 million share common stock offering at $0.70 per share.
EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was down, falling 28% to $1.405 after the company priced its 15 million share common stock offering at $1.45 per share.
Commodities
In commodity news, oil traded down 1.1% to $53.27, while gold traded up 1.8% to $1,649.00.
Silver traded up 1.1% Friday to $18.525, while copper rose 0.6% to $2.603.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 dropped 0.49% the Spanish Ibex Index declined 0.45%, while Italy’s FTSE MIB Index dipped 1.22% Meanwhile, the German DAX dropped 0.62%, and the French CAC 40 fell 0.54% while UK shares fell 0.44%.
Economics
The IHS Markit US composite PMI slipped to 49.6 in February, versus a reading of 53.3 in the prior month.
U.S. existing home sales fell 1.3% to an annual rate of 5.46 million units in January.
The total number of active U.S. oil rigs increased by 1 to 679 rigs this week, Baker Hughes Inc reported.
