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Midday Nasdaq Up on Facebook, Intel During Conference Season


Green Mountain Coffee continues to percolate.

MINYANVILLE ORIGINAL The Nasdaq Composite (^IXIC) rose 0.25% to 3,111.69 at 2:45 p.m. today on general optimism ahead of decisions that the Federal Reserve will make later this week.

Green Mountain Coffee (GMCR) continued its climb, rising 4.78% to $31.81 per share on news that one of its European investors, Italian coffee maker Luigi Lavazza S.p.A., had increased its stake in the company by 36%. Intel (INTC) rose 1.01% to $23.50 during its annual developers conference as executives made the case that Microsoft's (MSFT) upcoming Windows 8 operating system would give Intel a boost. Microsoft itself rose 0.50% to $30.88.

Social media behemoth Facebook (FB) continued to claw its way out of the abyss, climbing 2.74% to $19.32 as investors got excited about Facebook's integration with the upcoming iPhone 5 (yeah, yeah, but we all know that's what it's going to be called). Apple (AAPL) held steady ahead of its conference, falling just 0.11% to $662.00. Things weren't so solid in the biotech sector, though; Peregrine Pharmaceuticals (PPHM) fell 8.27% to $3.98 per share on high volume as questions about some of its new drugs continued to arise.
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