Midday Nasdaq Ticks Up, but Apple Keeps It Mostly Flat

By Jonah Loeb  OCT 25, 2012 3:25 PM

Also, Zynga looks great at the moment. Build those farms!

 


MINYANVILLE ORIGINALThe NASDAQ Composite Index (INDEXNASDAQ:.IXIC) rose 0.21% to 2,987.90 at 3:00 p.m. EDT today, off session highs as earnings statements continued to curb investor enthusiasm.
 
Social media giant Facebook (NASDAQ:FB) traded lower after yesterday’s massive gains, dropping 2.58% to $22.63 despite news that the company is making more money off mobile advertisements. Zynga (NASDAQ:ZNGA), battered by months of poor performance, shot up today after cutting its workforce and announcing a major buyback deal; the gaming company saw its stock rise 12.96% to $2.40 on high volume.
 
Another company making big gains was Symantec (NASDAQ:SYMC), which rose 6.76% to $18.56 as its earnings beat expectations. Apple (NASDAQ:AAPL) dragged the tech sector down a bit after dropping 0.99% to $610.79 on mixed reports about projected iPad Mini sales.
 
In good news for the fashion-conscious, Crocs (NASDAQ:CROX) dropped 20.23% to $12.92 on high volume after it offered break-even fourth quarter projections. It was a great day for holders of PSS World Medical (NASDAQ:PSSI), though, which shot up 32.31% to $28.58 after McKesson (NYSE:MCK) offered to buy it for $1.46 billion, a valuation of $29 per share.
No positions in stocks mentioned.