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Midday Nasdaq Up on Aruba Networks and Choice Hotels


Amazon also ticked up while Autodesk and Renasola took a dive.

MINYANVILLE ORIGINAL The Nasdaq Composite Index (^IXIC) rose 0.58% to 3,071.18 as of 2:45 p.m. EDT.

The tech sector took a big hit as Autodesk (ADSK) fell 15.74% to 30.09, Canaccord Genuity having downgraded it from Buy to Hold. Renasola (SOL) also took a hit of 15.09% and fell to $1.52 on news that its second-quarter earnings had taken a major tumble. Amazon (AMZN) ticked up 1.98% to 245.95 on 2,960,538 shares traded after the company announced an expansion of the shows it offers on Amazon Prime Instant Video.

Meanwhile, Aruba Networks (ARUN) rose 17.26% to $19.86 on reports of record revenues for the thirteenth consecutive quarter, but only two days after celebrating International Waffle Day, Choice Hotels (CHH) posted a 3.75% loss on higher-than-average volume. According to analysts, the waffles are not considered to be a major factor in the stock's downturn.
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