Midday Nasdaq (INDEXNASDAQ:.IXIC) Rising on Jobs Data

By Jonah Loeb  SEP 27, 2012 2:55 PM

Also, the people at StemCells Inc. performed some kind of miracle.


MINYANVILLE ORIGINALThe Nasdaq Composite Index (INDEXNASDAQ:.IXIC) rose 1.42% to 3,137.51 as of 2:45 p.m. EDT as encouraging jobs data and Chinese stimulus plans drove stocks into the green across the board.

Sirius XM Radio (NASDAQ:SIRI) rose 3.00% to $2.58 after announcing a partnership with Nissan Motors. Apple (NASDAQ:AAPL) was on the rise after a losing streak, jumping 2.16% to $679.50 despite concerns about its iPhone 5 supply. Even OCZ Technology (NASDAQ:OCZ), trading at multi-year lows, saw optimism among investors, rising 9.61% to $3.65.

In the biotech sector, StemCells Inc. (NASDAQ:STEM) shot up 11.32% to $2.15 after its massive breakthrough in stem cell treatment of spinal cord injuries. The news wasn’t so good for Peregrine Pharmaceuticals (NASDAQ:PPHM), though, which dropped 36.75% to just $1.05 after it was revealed that the company had defaulted on a $30 million loan it took out in August.
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