business newsThe S&P 500 Midday Report: Cliffs Natural Resources Falls Due to Short Sellers
By
Anthony Shields Sep 17, 2012 3:35 pm
Plus, Gilead Sciences is on the rise in response to biotech optimism.
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MINYANVILLE ORIGINAL The S&P 500 (^GSPC) suffered its first loss in almost a week today falling by 6.44 or .44% as of 3:00 p.m. Today’s big winner is Gilead Sciences (GILD) which rose 3.67 or 5.93% in response to increased positive speculation on the future of biotech companies. In contrast, Vulcan Materials Company (VMC) took a big loss of 2.78 or 5.65% reversing several days of gains. However, today’s big loser is Cliffs Natural Resources (CLF). This stock fell 3.41 or 7.49% due to an influx of short selling, which is raising eyebrows about the performance of the company.
No positions in stocks mentioned.
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