Financial News

Markets drop over cybersecurity concerns

The markets opened lower with the Dow dropping 88 points to 17,023 as the Home Depot payment systems breach renewed cybersecurity concerns. Nasdaq fell 16 points to 4,575.

On the upside

General Mills (NYSE: GIS) will pay approximately $820 million to acquire natural food company Annie's (NYSE: BNNY).

SinoCoking (Nasdaq: SCOK) will convert 21 million tons of coal into clean burning syngas and expects gross profit of $30 to $45 million in 2015.

BGC Partners will offer a premium of approximately $675 million for GFI Group (NYSE: GFIG).

On the downside

FuelCell Energy (Nasdaq: FCEL) widened losses for the third quarter as revenue fell and announced plans to sell its 1.4 megawatt fuel cell power plant project at the University of Bridgeport to NRG Energy.

Second quarter earnings slipped more than expected for Francesca's Holdings (Nasdaq: FRAN) and the company forecast current quarter results below estimates.

Investors locked in profits on RADA Electronics (Nasdaq: RADA).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 fell 8 points to 1992. Bitcoin slipped $2 to $467.
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