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MARKETS LIVE BLOG:

S&P 500 SLIPS BELOW 5,000; NASDAQ SINKS ON TECH DRAG

Nvidia tumbles 10%, Amazon loses more than 2% while Apple ends 1% lower

Abercrombie stumbles; Smith & Wesson shoots higher; Target's job cuts

Bill McColl

Here are some of the stocks the Yahoo Finance team is following for you today...

Shares of Abercrombie & Fitch (ANF) tumbling ahead of the open.  The struggling teen retailer posting 4th quarter earnings per share that came in right in line with Wall  Street views...but revenue missed the mark. Sales fell nearly 14% from a year ago on weaker-than-expected same-stores sales growth. The stronger dollar, less demand for its namesake labels and heavy discounting hurt profits during its holiday quarter.

Bob Evans Farms (BOBE) shares are plunging ahead of the open. The  company is scrapping plans to split its restaurant and food businesses.  Instead it will look at other options for its real estate to enhance shareholder value. Bob Evans is also cutting its outlook for the year after reporting earnings and revenue that fell short of forecasts.

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Shares of Smith & Wesson (SWHC) are shooting higher in early trading. The gunmaker is boosting its earnings outlook for the year after reporting earnings and revenue that topped analysts' estimates. Smith & Wesson saying demand for consumer handguns was better than it expected.

We are also keeping an eye on Target (TGT) this morning. The retail giant announcing plans to eliminate several thousand employees, as it looks to cut costs by $2 billion.