Lower Open In New Year After Record 2013

The markets opened lower on the first trading day of 2014 with the Dow dropping 87 points to 16,489 after a record finish to 2013. Nasdaq fell 28 points to 4148.

On the upside

Plug Power (Nasdaq: PLUG) met 2013 fourth quarter order targets of $32 million.

D.A. Davidson lifted its price target on Molycorp (NYSE: MCP) from $6 to $8.

WPCS (Nasdaq: WPCS) announced new contract awards of $6.8 million and engaged the services of a business broker to sell its 60% stake in a China-based joint venture.

On the downside

Shares of Star Scientific (Nasdaq: STSI) continued falling after confirming that it received a warning letter from the Food and Drug Administration.

DryShips (Nasdaq: DRYS) will resume sales of common shares through a previously announced $200 million program.

InterCloud Systems (Nasdaq: ICLD) completed its acquisition of Integration Partners.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 lost 10 points to 1838. Bitcoin rose $24.00 or 3% to $824.00.

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