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Midday Nasdaq Stale As Facebook, Intel Flatten Out


Also, StemCells is probably going to save all our lives or something like that.

MINYANVILLE ORIGINAL The Nasdaq Composite Index (^IXIC) rose 0.03% to 3,067.90 as of 2:45 p.m. EDT today as September trading got off to a slow start on the back of disappointing economic numbers in Europe and the United States.

Tech stocks slipped almost across the board as Facebook (FB) shares continued to tumble, falling 1.59% to $17.77. Microsoft (MSFT) had a similar day, falling 1.79% to $30.26 per share as investors were underwhelmed by the announcement of the new Windows Phone. Intel (INTC) also traded down 1.73% to $24.40 as the tech market flattened out. All three stocks traded on lower-than-average volume.

There was good news for StemCells (STEM), though, as a trial of its products as a treatment for spinal cord injuries yielded positive results. StemCells shares rose 5.07% to $2.28 on more than six times its average volume. ARM Holdings (ARMH) took a big drop as the PC market continued to suffer; the company's shares fell 8.52% to $24.93 per share on high volume.

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