A big IPO in less than 140 characters, and customer data is compromised at Adobe. Those stories and more are what's in Friday's Market Minute.
The Dow Jones industrial average (^DJI) fell 136 points Thursday, dropping back below 15,000. The Standard & Poor's 500 index (^GPSC) lost 15 and the Nasdaq composite index (^IXIC) dropped 40.
Today was supposed to be a "jobs Friday," but the government shutdown has forced the Labor Department to delay the release of September's employment numbers.
Twitter says it plans to raise a billion dollars through its initial public offering. The company previously said it planned to go public, but it didn't reveal any financial details. Now we know the social media giant had revenue last year of $317 million, triple the number from the year before. Despite the revenue jump, Twitter suffered a loss of more than $79 million. The company is still not saying how many shares it will offer, or the price per share. The lead underwriters -- Goldman Sachs (GS), Morgan Stanley (MS) and JPMorgan Chase (JPM) -- will share in a big payday.
Last year's mega-IPO in social media was Facebook (FB). The company now says its Instagram unit will start placing ads on photo-sharing feeds.
Adobe Systems (ADBE) reports a serious attack on its computer system that may have compromised personal information of customers as well as the source code for some of its programs. It says names and some encrypted credit card information of nearly 3 million customers were accessed.
Shares of Forest Oil (FST) are set to rally. The oil and gas producer has agreed to sell assets in the Texas panhandle. The buyer is privately held Templar Energy. The price: $1 billion.
Union Pacific (UNP) issued a disappointing forecast, partly because of weak demand for coal shipments. The news could also pressure the shares of rival railroads CSX (CSX) and Norfolk Southern (NSC).
And Time Warner (TWX) is expecting a big opening weekend for its movie "Gravity," starring George Clooney and Sandra Bullock. They play astronauts dealing with a crisis in space.
-Produced by Drew Trachtenberg.
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