A drop in factory orders sent the markets lower during the midday with the Dow falling 88 points to 10,741. Nasdaq dropped 29 points to 2341.
On the upside
Morgan Stanley analyst Adam Jonas initiated coverage of Ford (NYSE: F) with an Overweight rating saying that Ford sales will improve in 2011.
The Gaming Inspection and Coordination Bureau in Macau reported a 40% jump in September gaming revenue lifting shares of Las Vegas Sands (NYSE: LVS).
Gramercy Capital (NYSE: GKK) will purchase up to 4 million shares of preferred stock.
On the downside
China XD Plastics (Nasdaq: CXDC) will offer $20 million worth of common share through a registered direct placement.
Eyak Technology withdrew its cash offer to purchase GTSI (Nasdaq: GTSI) after the United States Small Business Administration suspended GTSI from receiving future federal contracts.
Uranium Resources (Nasdaq: URRE) board of director member Robert Gallagher resigned on September 30, 2010 and was hired as a consultant on October 1, 2010.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq.
