Market Overview

Benzinga Mid-Afternoon Market Update

Midway through the afternoon Monday, the Dow recovered a bit, up about 0.09 percent, or roughly 11.82 points. The NASDAQ fell about 0.46 percent, or 14.76 points, while the S&P traded down 0.03 percent, decreasing 0.49 points.

Shares of Rock-Tenn (NYSE: RKT) continued their rise midway Monday afternoon, trading up 6.48 percent around $73.17 following an Upgrade at Jefferies to Class A Buy.

Tivo (NASDAQ: TIVO) rallied as well, rising 4.03 percent to $9.94 following the announcement that Verizon (NYSE: VZ) will pay Tivo $250.4 million as a settlement in the company's' patent infringement case.

Packaging Corp of America (NYSE: PKG) also rose Monday, up 3.61 percent to $34.90 following an upgrade at BMO Capital Markets.

Questcor Pharmaceuticals (NASDAQ: QCOR) continued its slide Monday as shares plummeted 34.72 percent to $19.58 following downgrades at Piper Jaffray, Leerink Swann, Oppenheimer, and Ladenburg Thalmann.

Peregrine Pharmaceuticals (NASDAQ: PPHM) was also hammered, falling a staggering 76.90 percent to $1.25 following an announcement that it had discovered major discrepancies in its phase 2 data, and stating that investors should no longer rely on the study.

Vonage Holdings (NYSE: VG) also fell, dropping 5.42 percent to $2.27.

In tech news, Google (NASDAQ: GOOG) crossed above the $740 line for the first time in its history Monday, trading up 2.10 percent to $749.41 by mid-afternoon Monday.

In economic reports, the Chicago Fed National Activity Index came in at -0.87, below the -0.12 in July. At 10:30, the Dallas Fed Manufacturing survey was also release, coming in at -0.9, above the expected -2.7, and slightly better than last month's figure of -1.6.

Posted-In: News Upgrades Downgrades FDA Events Econ #s Economics Hot

 

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