Midday Nasdaq Slumps as Apple Hits a 10-Month Low

By Jonah Loeb  DEC 14, 2012 3:12 PM

Also, Facebook's fourth lockup period has expired.


MINYANVILLE ORIGINAL The Nasdaq Composite Index (INDEXNASDAQ:.IXIC) fell 0.62% to 2,973.68 at 3:00 p.m. EST today as Apple (NASDAQ:AAPL) stock fell to a 10-month low. The tech giant saw its stock price plummet 3.87% to just $509.20 after consumer pressure forced it to bring Google (NASDAQ:GOOG) Maps services back to iOS.
Facebook (NASDAQ:FB) also hit a skid today, falling 3.90% to $27.14 as its fourth lockup period expired, opening up another 156 million shares of the company to public trading. A rare bright spot was Clearwire (NASDAQ:CLWR), which rose 5.85% to $3.35 on news that Sprint’s (NYSE:S) buyout was closer than ever to completion.
Qualcomm (NASDAQ:QCOM) saw its shares fall below their 200-day moving average, dropping 4.33% to $60.04 on high volume, while Groupon (NASDAQ:GRPN) had a good day, rising 2.92% to $4.94 after consumers responded positively to its new iPad app.
Finally, Ariad Pharmaceuticals (NASDAQ:ARIA) fell a steep 19.39% to $19.25 after it was reported that the FDA would require a hefty side-effect warning on boxes of its newly-approved leukemia drug.
No positions in stocks mentioned.