Job market concerns sink stocks

Concerns about the job market sent the markets tumbling during the midday with the Dow plummeting 182 points to 16,234. Nasdaq plunged 114 points to 4,395.


On the upside


Suzhou Dongshan Precision Manufacturing will acquire Multi-Fineline Electronix (Nasdaq: MFLX) for a premium of $23.95 per share in cash.


Post Holdings (NYSE: POST) swung to a profit for the first quarter.


Synchronoss Technologies (Nasdaq: SNCR) will repurchase up to $100 million worth of common stock.


On the downside


Lions Gate Entertainment (NYSE: LGF) disappointed with lower third quarter earnings and revenue that fell short of expectations.


Splunk (Nasdaq: SPLK) stock fell after rival Tableau Software (NYSE: DATA) forecast disappointing first quarter results.


YRC Worldwide (Nasdaq: YRCW) fell to a loss for the fourth quarter as revenue dropped.


In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plummeted 27 points to 1,888. Bitcoin eased a fraction to $388.

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