Markets plunge over disappointing jobs data

Disappointing jobs data sent the markets tumbling to a sharply lower open with the Dow plunging 217 points to 16,054. Nasdaq plummeted 63 points to 4,563.

On the upside

XenoPort (Nasdaq: XNPT) will discontinue development of XP23829 in order to maximize the value of HORIZANT Extended Release Tablets. The company also appointed Vincent J. Angotti to the position of chief executive officer.

The Wall Street Journal reported that Sprint (NYSE: S) will eliminate jobs and cut up to $2.5 billion in expenses over the next six months.

The Chinese government committed to supporting Macau's economy sending shares of Wynn Resorts (Nasdaq: WYNN) higher.

On the downside

Amicus Therapeutics (Nasdaq: FOLD) received additional regulatory guidance from the Food and Drug Administration for migalastat monotherapy to treat Fabry disease and will no longer be able to submit a New Drug Application at the end of the year.

A shareholder class action lawsuit against Bank of America (NYSE: BAC) for its role in the $690 million sale of Zale will move forward.

Wedbush Securities initiated coverage of Facebook (Nasdaq: FB) with an Outperform rating and a $115 price target but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 plummeted 26 points to 1,896. Bitcoin held steady at $236.
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