Midday Nasdaq Rises Slightly Before Election Day

By Jonah Loeb  NOV 05, 2012 3:00 PM

Also, BioMarin Pharmaceutical pops after its drugs help sick people walk.

 


MINYANVILLE ORIGINAL The Nasdaq Composite Index (INDEXNASDAQ:.IXIC) ticked up 0.40% to 2,994.00 as of 2:45 p.m. EST today on moderate gains from the tech sector mixed with investor uncertainty ahead of tomorrow’s election.
 
Netflix (NASDAQ:NFLX) continued to perform well, jumping 1.09% to $77.74 as the company fended off reports that investor activist Carl Icahn was eyeing a takeover of the streaming video giant. Investors were also optimistic about Intel (NASDAQ:INTC), which just rose 0.89% to $22.03 after announcing its first solid-state drive.
 
Apple (NASDAQ:AAPL) jumped in early trading but has since flattened out, rising 1.18% to $583.62 after reaching $587.31 this morning. Worries about the iPhone’s market share are holding gains down.
 
Outside the tech sector, things were looking good for BioMarin Pharmaceutical (NASDAQ:BMRN), which shot up after clinical trials of a MPS IVA drug helped patients walk farther. The company’s stock rose 31.19% to $49.07 on ten times its average volume.
 
It wasn’t such a good day for Sirius XM Radio (NASDAQ:SIRI), though, which dropped 2.24% to $2.84 despite strong third-quarter results. The company’s stock has lost about half of the $0.20 jump it made before last weekend.
No positions in stocks mentioned.