(NASDAQ:AAPL) in the red once again, the Nasdaq Composite
(INDEXNASDAQ:.IXIC) turned lower in mid-Friday trading, as investors balanced good November job numbers with a weaker-than-expected consumer sentiment report.
"While it (consumer confidence data) is just one measure of consumer sentiment, maybe the constant barrage of back and forth in DC (over the fiscal cliff) with no resolution yet is having an impact," said Peter Boockvar, managing director at Miller Tabak in New York, according to Reuters
The Nasdaq was down 0.47% to 2,975.13 points on average trading volume of 727.63 million as of 12:20 p.m. EST.
After registering gains in early trading on news of its deal with T-Mobile, Apple slid by midday. On Thursday, CEO Tim Cook gave his first public interview with NBC’s Brian Williams, where he said that Apple would be bringing some manufacturing back to the US and that television is “an area of intense interest” for his company.
There was a strong sell-off in Amarin
(NASDAQ:AMRN) (-19.21% to $9.66) stock after the company announced that it had raised $100 million in financing and was hiring its own sales force to market its cholesterol-lowering drug, Vascepa
. Investors had expected Amarin to partner with a large pharmaceutical company like Pfizer
(NYSE:AZN), or Abbott
(NYSE:ABT) because of how expensive it usually is to take a drug to market.
Smith & Wesson
(NASDAQ:SWHC), which rose in early trading after its fiscal second quarter results met earnings and revenue expectations, later fell 6.83% to $10.11 on worries that demand of its firearms was actually slipping.
“We note that the company's order backlog is now $333 million, down sequentially from $392 million last quarter and $439 million two quarters ago," said Rommel Dionisio of Wedbush in a note. "While still high on a historical basis, this appears to indicate dealers who place such orders do not expect the now year-long industry demand surge to last that much longer.”
(NASDAQ:FMCN) dipped 5.62% to $23.36 after it was reported that CDH Investments Fund Management would be withdrawing from the group bidding to buy out the display-advertising firm.
(NASDAQ:GRPN) rose a robust 6.85% to $4.07 while Zynga
(NASDAQ:ZNGA) inched up 2.21% to $2.54. It was reported yesterday that the social gaming company had filed preliminary paperwork in Nevada to obtain a gaming license, making this its first official move towards adding real-money gambling games to its business. Zynga jumped 7.33% yesterday as a result.
Good Times Restaurants
(NASDAQ:GTIM) increased 29.74% to $2.53 after it said that November same-store sales improved 6.8%.
No positions in stocks mentioned.
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