October 03, 2013 at 17:59 PM EDT
Dow Drops Below 15,000 As Shutdown Continues

The markets tumbled to close sharply lower with the Dow plummeting 136 points to 14,996 as concerns mounted about the government shutdown. Nasdaq plunged 40 points to 3774.

On the upside

A Seeking Alpha contributor noted that Baker Bros. Advisors purchased 4.5 million shares of Idera Pharmaceuticals (Nasdaq: IDRA).

Noble Financial said that SeaChange (Nasdaq: SEAC) could potentially be acquired for up to $20 per share.

Shares of Re/Max (NYSE: RMAX) continued rising after impressing in its market debut yesterday.


On the downside


Moody's maintained its Baa3/Aa1.br rating with a negative outlook on Oi SA (NYSE: OIBR).

Shares of IMAX (NYSE: IMAX) continued falling after an analyst raised concerns yesterday about theater operator's future growth.

CEVA (Nasdaq: CEVA) warned that third quarter revenue would fall short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 dropped 15 points to 1678.

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