The Ticker

Markets take hit

Frenzied buying in Twitter shares grabbed Wall Street's attention yesterday, as the social media stock surged well above expectations, while major indexes fell, with the S&P 500 suffering its worst daily decline since August.

The broader market was hurt by weak earnings from Whole Foods and Qualcomm. The tech-heavy Nasdaq index recorded its biggest daily decline in a month.

The Dow Jones industrial average was down 152.90 points, or 0.97 percent, at 15,593.98. The Standard & Poor's 500 Index was down 23.34 points, or 1.32 percent, at 1,747.15. The Nasdaq Composite Index was down 74.61 points, or 1.90 percent, at 3,857.33.

Disney reports gain above expectations

Walt Disney Co. reported a gain in profit that beat Wall Street expectations, boosted by higher spending by summer visitors to U.S. theme parks and increased sales of toys and other consumer products.

The media company posted diluted earnings per share of 77 cents for the quarter ended in September, according to a statement released yesterday. That beat the 76 cents per share that was the average estimate of analysts surveyed by Thomson Reuters.

Net income for the quarter rose to $1.4 billion, a 12 percent gain from a year earlier.

Tax refund ID theft growing

More Americans' identities were stolen in tax refund crimes in the first six months of 2013 than in all of 2012, said a U.S. Internal Revenue Service watchdog yesterday, describing the problem as "a growing epidemic."

Tax refund fraud has exploded in recent years. Scammers typically use stolen names and Social Security numbers to file phony electronic tax forms for IRS refunds.

TOMORROW

 Labor Department releases employment data for October.

 American Student Assistance, a Boston-based nonprofit that helps people make better decisions about financing their education and repaying student loans through its SALT financial education program, has named Bryan Spence, left, to the newly created position of director of the Massachusetts SALT Alliance. In his new role, Spence will play a critical role in raising SALT's presence within Massachusetts. He will be charged with establishing a network of partnerships.

 Arrowstreet is pleased to announce the appointment of four firm leaders to the position of principal. The promotion of architects David Bois, Amy Korte, Sean Selby and Larry Spang acknowledges their leadership roles and substantial contributions to the practice of architecture.

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