Questcor Stock Plunges and 4 Heavily Traded Shares Attracting Investor Attention
Bank of America Corp (NYSE:BAC) website faced slow load times on Tuesday, and a few users could not access the site, according to the Charlotte Observer. There has been no confirmation or denial if its issues were caused by a group who claims to be associated with a radical organization that previously threatened a cyber attack. The group states that it is affiliated with a militant Islamic organization, and it wrote on a site called Pastebin earlier on Tuesday that it had intentions to launch an attack on Bank of America and the New York Stock Exchange starting at 2 p.m.
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Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) stock is plunges after health insurance giant, Aetna (NYSE:AET), made the decision that the Questcor’s Acthar gel is either unnecessary or experimental the majority of the time, states a posting on Aetna’s website. Aetna discovered that Acthar is not needed for diagnostic testing of adrenocortical function or for corticosteroid-responsive conditions, and it will no longer be reimbursed for those two reasons. The insurer decided that Acthar is actually medically needed as a test for infantile spasms, but is “experimental and investigational” in all other instances. In mid-morning trading, Questcor fell $24.25, or 48 percent, to $26.27. The stock saw a sharp drop following Citron Research’s highlighting of Aetna’s findings in a new report on its website.
Facebook Inc (NASDAQ:FB) is working with a few ad exchanges to test Facebook mobile ads on third party iOS and Android apps, reports The Los Angeles Times. The advertisers and publishers taking part in the test have not been revealed by Facebook, the report added.
Sirius XM Radio Inc (NASDAQ:SIRI) is still in the process of being taken over by Liberty Media. Earlier in the week Liberty Media converted about half of its 40 percent preferred share stake into actual stock. This move doesn’t change the company’s effective stake in the satellite radio giant, which remains a bit shy of 50%. Liberty Media would not convert such a large chunk of the preferred shares gained during its bailout of Sirius XM out of near bankruptcy three years ago if it didn’t believe that it would have the ability to take majority control of Sirius XM.
Sprint Nextel Corporation (NYSE:S): Samsung (SSNLF) is to release its Galaxy Note II,which is a smartphone/tablet hybrid, in the U.S. supported by five major carriers by the middle of November, according to the company. The device should be available for the holidays with AT&T (NYSE:T), Sprint (NYSE:S), Deutsche Telekom’s (DTEGY) T-Mobile, Verizon Wireless (VZ,VOD) and U.S. Cellular (NYSE:USM). The company stated that the exact pricing and retail availability is to be announced by each of the carriers.
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