Midday Stock RoundupMonday, October 8, 2012
The Nasdaq was down 0.82% to 3,111 in midday trading Monday, while the Dow Jones Industrial Average was off 0.21% to 13,583.
The S&P 500 fell 0.37% to 1,455.
The yield on a 10-year treasury bond rose 0.81% to 1.75%.
The price of gold was down 0.20% to $1,777 per ounce.
Shares of Anaheim drug maker Questcor Pharmaceuticals Inc. were up about 7% to $21 for a market value of $1 billion. Questcor’s shares took a hit last month when Harford, Conn.-based Aetna Inc. said in a policy bulletin that it would limit coverage of Questcor’s only drug Acthar Gel. A survey, released Monday by LifeScience Advisors LLC, said the insurance company’s decision will have little impact on Acthar Gel prescriptions, which are expected to either remain steady or go up over the next year.