Midday movers: Apple, TiVo, Peregrine

U.S. Stocks are down as German business confidence sags despite ECB's recent bond-buying announcements.

By MSN Money Partner Sep 24, 2012 1:24PM
Image, Wall Street sign, copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Apple (AAPL) said it sold over 5 million
iPhone 5s during the first three days of availability, which came in below the expectations of many analysts but easily topped the 4 million it sold during its last iPhone launch weekend.

Shares of Home builder Lennar (LEN) declined about 2% in spite of its Q3 results beating expectations on both the top and bottom lines.

Several containerboard stocks, including Rock-Tenn (RKT), Packaging Corp. (PKG) and International Paper (IP), rose for a second straight session after reports indicated that the companies successfully passed through a full $50/ton price increase in September.

Among the notable gainers were Rambus (RMBS), up 19% after a judge ruled the company's patents were valid and infringed by rival SK Hynix, and TiVo (TIVO), up over 3% after announcing a $250.4M payment in a settlement of a patent suit with Verizon (VZ). 

Among the noteworthy losers was Peregrine Pharmaceuticals (PPHM), down over 75% after disclosing "major" discrepancies in data from a trial of its bavituximab drug for the treatment of lung cancer. Also lower were shares of Questcor (QCOR), down 34% after being downgraded by at least six firms following its disclosure of a U.S. government investigation into the company’s promotional practices.
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