Financial News

Global economic concerns sink stocks

Concerns about the global economy sent the markets tumbling to a sharply lower close with the Dow plummeting 140 points to 17,750. Nasdaq plunged 54 points to 4,763.


On the upside


RoundTable Healthcare Partners will pay a premium of approximately $140.3 million in cash to acquire Symmetry Surgical (Nasdaq: SSRG).


Third quarter earnings for Fabrinet (NYSE: FN) nearly doubled to top analyst estimates and the company forecast current quarter results ahead of expectations.


TriNet Group (NYSE: TNET) reported better than expected earnings for the first quarter.

On the downside


Walter Investment Management (NYSE: WAC) widened losses significantly for the first quarter.


The Brink's Company (NYSE: BCO) widened first quarter losses as revenue fell.


Falling crude oil prices weighed down shares of Chesapeake Energy (NYSE: CHK) and Legacy Reserves (Nasdaq: LGCY).


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 tumbled 18 points to 2,063. Bitcoin gained $3 to $447.

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