Midday Nasdaq Dragged Down by Apple, Other Tech Companies

By Jonah Loeb  DEC 04, 2012 3:17 PM

Also, Facebook may still be on the rise.

 


MINYANVILLE ORIGINAL The Nasdaq Composite Index (INDEXNASDAQ:.IXIC) had fallen 0.38% to 2,990.76 as of  3:00 p.m. EST today on continued investor skittishness about the fiscal cliff and the troubled eurozone.
 
Despite this, social networking giant Facebook (NASDAQ:FB) rose 1.74% to $27.51 as investors continued to warm to the company’s ideas about advertising revenue. Sirius XM Radio (NASDAQ:SIRI), however, fell off yesterday’s pop, dropping 0.36% to $2.79 per share.
 
Yahoo (NASDAQ:YHOO) jumped 1.81% to $18.89 after it acquired video chat company OnTheAir to work with the company’s mobile group. Groupon (NASDAQ:GRPN) continued to plummet, falling a steep 7.42% to just $3.79 per share after it revised its marketing cost projections.
 
Apple (NASDAQ:AAPL) dragged the whole tech sector south, though, falling 2.05% to $574.20 despite an expansion of its iTunes software and a raised earnings estimate.
No positions in stocks mentioned.