Midday Movers: Apple Inc. (AAPL), QLogic Corp. (QLGC), Aquinox (AQXP), SciClone Pharmaceuticals (SCLN)

Shares of Apple Inc. (AAPL) are lower by nearly 2% to $122.50 in midday trading on Thursday, as the stock continues to see loses following unfavorable comments made yesterday on CNBC’s Mad Money. Although the name trades in the red, its current technicals are still fine here. That said however, if the downward continues with a move below its 200 day MA, which sits near the $118.50 – $119.00 vicinity, it could lead to lower levels. The next support to watch after that is $118.

Apple is currently printing a higher than average trading volume with the issue trading 61 million shares, compared to the average volume of 45 million. The stock began trading this morning at $123.85 compared to the prior days close of $122.57. On an intraday basis it gotten as low as $119.22 and as high as $124.06.

Shares of QLogic Corp. (QLGC) are sinking nearly 22% in midday trading on heavy trading volume after the network infrastructure firm lowered its 1Q/EPS guidance to a range of $0.16 to $0.17/shr on revenue of about $113 million, well below its previous guidance of $0.23 to $0.27/shr and revenue between $124 million and $132 million.

Aquinox Pharmaceuticals Inc. (AQXP) is plunging 70 percent to $2.00 as its Phase 2 FLAGSHIP clinical trial failed to demonstrate efficacy in chronic obstructive pulmonary disease patients with a history of frequent exacerbations.

BWS Financial reported on Thursday that they have lowered their rating for SciClone Pharmaceuticals Inc. (SCLN). The firm has downgraded SCLN to ‘Sell’ from ‘Hold.’

SciClone Pharmaceuticals Inc recently traded at $9.54, a loss of $1.69 over Wednesday’s closing price. The name has a current market capitalization of $472.96 million.

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