IBD's Top 10 - Thursday

Stocks Plunge In Broad Sell-Off

1 Concerns about Citigroup spurred widespread selling. The NYSE composite fell 2.8% while the S&P 500 and Dow skidded 2.6%. The Nasdaq fell 2.2%. Volume rose on the NYSE, but edged down on the Nasdaq. The small-cap S&P 600 dived 4.1%. Financial, metal and some consumer groups suffered hard. But many leading stocks held up relatively well.

Citigroup Dives On Credit Fears

2 Shares of the financial giant fell 7% after CIBC World Markets downgraded Citi c, saying it needs to up its low capital levels by cutting its dividend or selling assets. Credit Suisse cs fell 5% after writing off $1.9 bil in mortgage debt and leveraged loans. Bond insurers -- including insurance giant AIG aig -- sold off their subprime exposures. Other financials sold off hard.

Factory Growth, Spending Slow

3 Oct.'s ISM manufacturing index fell 1.1 points to 50.9, still signaling growth, but the weakest since March. ISM cited housing and credit market woes. Import orders hit a 6-year low. Consumer spending rose 0.3%, a little below views. But personal income was up 0.4%. Jobless claims and other labor data also were upbeat ahead of Fri.'s monthly jobs report.

Bond Yields Erase Post-Fed Gain

4 The 10-year Treasury yield fell 11 basis points to 4.36% after rising 9 ticks Wed. The odds of a Dec. rate cut rose to 68% from 37%. Financial firms' woes and weak factory data hurt. Also, the Fed said asset-backed commercial paper holdings fell for a 12th straight week. The Fed added $41 bil into the banking system, the most since 9/11, offsetting maturing reserves.

Crude Slumps After Topping $96

5 Dec. crude fell $1.04 to $93.49 a barrel after wild swings. Oil prices hit $96.22 in electronic trading, then dropped as low as $92.06. Crude surged $4.15 on Wed. after the Energy Dept. said U.S. crude supplies fell sharply for a 2nd straight week. Speculative trading fueled by a weaker dollar has added to oil price volatility.

Capella Rises, Strayer Held Back

6 The for-profit education firms both reported 45% profit growth in Q3 and beat views by 3 cents. Capella cpla shares rose 7.5% to a new high. But Strayer's stra weak Q4 and '08 outlook sent shares sharply lower, though they pared losses to 4%. Capella's enrollment rose 24% vs. a year ago. Strayer's rose 14%. School stocks have soared this year amid strong results.

Toyota Tops Ford; Chrysler Cuts

7 Ford's F U.S. sales fell 9.3% in Oct., enabling Toyota TM with a 4.6% gain to overtake it to become the No. 2 car seller in America. Sales by U.S. leader GM GM climbed 3.3% -- its 3rd straight gain. GM car sales were flat, but truck sales rose 5.8%. Nissan nsany sales surged 13%. Meanwhile, Chrysler said it'll cut another 12,000 jobs, or 15% of its work force. GM shares fell 5% and Ford slid 4%.

Thin Margins Hurt Exxon's Profit

8 The oil giant's Q3 profit fell 4% to $1.70 a share, missing views by 5 cents. Sales rose 2.7% to $102.3 mil, below views. Exxon Mobil XOM cited weak refining and chemical margins and low natural gas prices. Exxon shares fell 4%, as oil prices and stocks overall fell. Late Thu., an Alabama court tossed nearly all of a $3.6 bil verdict vs. Exxon.

Morningstar Down On Q3 Sales

9 The provider of mutual fund and other investing data said profit rose 41% to 41 cents a share, topping views by 2 cents. Revenue rose 37% to $112 mil, missing forecasts. Morningstar's MORN operating margin was 28.1%, relatively low for its industry. Overseas revenue was 22% of the total vs. 15% a year ago. Shares hit a high, but closed down 4.5%.

Medco Health Beats On Generic

10 The drug benefit manager's Q3 profit climbed 27.5% to 88 cents a share, ex items, beating views by 9 cents. Revenue rose 4% to $10.92 bil. Medco MHS credited a generic version of blood pressure drug Toprol XL and high mail-order volume. Medco makes more money on generics than branded drugs. Its shares rose 2% to a new high.