Midday Nasdaq Rises on Tech Stocks and Fiscal Cliff Optimism

By Jonah Loeb  DEC 11, 2012 3:14 PM

Research In Motion hears some good news for a change.


MINYANVILLE ORIGINAL The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) rose 1.20% to 3,022.81 at 2:45 p.m. EST today on optimism about budget talks in Washington over the fiscal cliff.
Clearwire Corporation (NASDAQ:CLWR) was back in the game as talks heated up about Sprint (NYSE:S) buying out the rest of the company; its stock rose 14.58% to $2.75 on high volume. Intel (NASDAQ:INTC) also had a good day, rising 2.86% to $20.66 as analysts speculated that the company may be winning the data center battle with rival chipmaker ARM (NASDAQ:ARMH).
In the pharmaceutical sector, Acura (NASDAQ:ACUR) shot up 26.73% to $3.35 on massive volume on news that the company had developed a new decongestant that is resistant to being used to make methamphetamine. BlackBerry maker Research In Motion (NASDAQ:RIMM) rose 5.37% to $12.52 as it plans to release its next-generation smartphone.
Finally, Apple (NASDAQ:AAPL) rose 2.00% to $540.64 on speculation about the company potentially releasing its own television sets next year. It’s still early, but the possibility of such a development has investors salivating.
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