Stocks Plunge on Worst Payrolls Data in 4-Years

Stocks plunged on Friday morning after the release of the worst employment report in more than 4-years. The Labor Department reported a net loss of 4000 for August Non-Farm Payrolls, versus the expected increase of 110,000.

IndyMac Bancorp (IMB | Quote | Chart | News | PowerRating) released a statement on its current performance (read more).

Piedmont Natural Gas (PNY | Quote | Chart | News | PowerRating) reported its Q3 loss narrowed, despite lower revenues. The company backed FY07 EPS view and declared a dividend (full story).

In deal news, Aldabra (ALL | Quote | Chart | News | PowerRating) announced plans to acquire Boise Cascade's combined paper businesses for $1.63 billion in cash and stock (read more).

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