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Mid-Day Market Update: Markets Go Lower, Multi Level Marketing Companies Rally
12/27/2012 1:13:00 PM
Midway through trading Thursday, the Dow traded down 0.82 percent to 13,006.13 while the NASDAQ fell 1.03 percent to 2,959.72. The S&P also fell, decreasing 0.92 percent to 1,406.25.
Equities Trading UP
Shares of Nu Skin (NYSE: NUS ) gained 5.21 percent to $34.93 on a relief rally as Herbalife and other multi level marketing companies regained some of their losses.
Smith & Wesson (NASDAQ: SWHC ) traded up 2.64 percent to $8.17 after the company announced it would be boosting its stock buyback plan.
Equities Trading DOWN
Questcor Pharmaceuticals (NASDAQ: QCOR ) was also down, falling 6.59 percent to $27.93 after a Seeking Alpha article reported that Blue Cross Blue Shield had denied coverage of Acthar.
Shares of J.C. Penney (NYSE: JCP ) were down as well, falling steadily throughout the day, down 6.55 percent to $19.39 as news of poor holiday sales across the board took hold with traders.
Silver traded up 0.29 percent Thursday to $30.33.
Continuing claims were reported as well, coming in at 3.206 million, edging higher than the expected 3.20 million, but remaining below the previous release of 3.225 million.
New home sales month over month came in at 4.4 percent, well above the anticipated 3.3 percent and the prior report of -3.5 percent.
Finally, CB consumer confidence came in at 65.10, below the projected 70.00 and the prior report of 71.50.
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