Midday Stock RoundupTuesday, October 9, 2012
The Nasdaq was down 1.35% to 3,070 in midday trading Tuesday, while the Dow Jones Industrial Average was off 0.62% to 13,500.
The S&P 500 fell 0.79% to 1,444.
The yield on a 10-year treasury bond was down 2.35% to 1.7%.
The price of gold was off 0.47% to $1,767 per ounce.
Shares of Irvine-based Edwards Lifesciences Corp. plunged about 19% to $87, a day after the heart valve maker lowered its guidance on third-quarter sales. Edwards Lifesciences has a market value of about $10 billion.
Anaheim-based Questcor Pharmaceuticals Inc. rose about 6% to $22 after an analyst upgraded the drug maker’s stock from hold to buy. Results of a physician survey released on Monday indicated prescriptions of Questcor’s sole drug Acthar Gel would not be significantly affected by insurer Aetna Inc.’s decision to limit coverage of the drug. Questcor had a market value of about $1 billion.