Toward the end of trading Friday, the Dow traded down 0.55 percent to 25,386.36 while the NASDAQ declined 1.7 percent to 7,716.86. The S&P also fell, dropping 0.79 percent to 2,814.94.
Leading and Lagging Sectors
Friday afternoon, the telecommunication services shares climbed 2.3 percent. Meanwhile, top gainers in the sector included Globalstar, Inc. (NYSE: GSAT) up 7 percent, and Telecom Italia S.p.A. (NYSE: TI) up 6 percent.
In trading on Friday, information technology shares fell 1.03 percent.
Twitter Inc (NYSE: TWTR) shares fell around 17 percent in reaction to second-quarter results.
MAUs totaled 335 million, with 267 million accounted for by international customers and 68 million by U.S. customers. The year-over-year increase was 9 million, but the figure was down 1 million from Q1. Average daily active users climbed 11 percent, faster than the 10-percent growth in Q1, extending the streak of double-digit year-over-year growth to seven quarters.
The social networking platform reported non-GAAP earnings per share of 17 cents in Q2 compared to 8 cents per share one year ago. Twitter’s quarterly revenue rose 24 percent year-over-year to $711 million. Analysts, on average, estimated EPS of 17 cents per share on revenues of $696.23 million.
Equities Trading UP
World Fuel Services Corporation (NYSE: INT) shares shot up 22 percent to $27.25 as the company posted better-than-expected Q2 results.
Shares of Endava Ltd (NYSE: DAVA) got a boost, shooting up 23 percent to $24.5625 after pricing its IPO at $20 per share.
Essendant Inc. (NASDAQ: ESND) shares were also up, gaining 18 percent to $15.58 after reporting upbeat Q2 results.
Equities Trading DOWN
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) shares dropped 64 percent to $1.44 in reaction to a disappointing update relating to a clinical trial. The company said it will stop a Phase 3 study of