business newsMidday Nasdaq (INDEXNASDAQ:.IXIC) Up After Bank of Japan Stimulus Announcement
By
Jonah Loeb Sep 19, 2012 2:35 pm
Also, Zynga buys a company and pharma proves to be a volatile sector.
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MINYANVILLE ORIGINAL The Nasdaq Composite Index (INDEXNASDAQ:.IXIC) rose 0.18% as of 2:30 p.m. EDT today after the Bank of Japan joined the Federal Reserve in outlining an aggressive stimulus plan. Positive housing data also bumped up the average.
Questcor (NASDAQ:QCOR) has been the biggest loser on the day, dropping a staggering 39.31% to $30.66 after insurer Aetna (NYSE:AET) announced it would only provided limited coverage for Questcor’s new multiple sclerosis drug, Acthar. There was good news for beleaguered gaming company Zynga (NASDAQ:ZNGA), though, which jumped 4.07% to $3.20 per share after buying fellow game maker A Bit Lucky.
Other tech stocks turned in mixed performances. Facebook (FB) continued its upward climb, ticking up 3.97% to $22.74, but Microsoft (NASDAQ:MSFT) fell 0.16% to $31.13, and Dell (NASDAQ:DELL) fell 0.71% to $10.49 on low volume as investors shied away.
There wasn’t any such shyness about Achillion Pharmaceuticals (NASDAQ:ACHN), though, which saw its stock shoot up 15.86% to $9.39 after two prominent analysts recommended buying shares in the company. Its hepatitis drugs are proving to be some of the strongest in the small field.
Questcor (NASDAQ:QCOR) has been the biggest loser on the day, dropping a staggering 39.31% to $30.66 after insurer Aetna (NYSE:AET) announced it would only provided limited coverage for Questcor’s new multiple sclerosis drug, Acthar. There was good news for beleaguered gaming company Zynga (NASDAQ:ZNGA), though, which jumped 4.07% to $3.20 per share after buying fellow game maker A Bit Lucky.
Other tech stocks turned in mixed performances. Facebook (FB) continued its upward climb, ticking up 3.97% to $22.74, but Microsoft (NASDAQ:MSFT) fell 0.16% to $31.13, and Dell (NASDAQ:DELL) fell 0.71% to $10.49 on low volume as investors shied away.
There wasn’t any such shyness about Achillion Pharmaceuticals (NASDAQ:ACHN), though, which saw its stock shoot up 15.86% to $9.39 after two prominent analysts recommended buying shares in the company. Its hepatitis drugs are proving to be some of the strongest in the small field.
No positions in stocks mentioned.
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