Midday Movers: ABX, KGC, IAU & More
Take a look at some of Monday's midday movers:
Gold stocks were sharply in the red as gold prices dropped nearly 6 percent to below $1,400 per ounce, its lowest since March 2011. Most notably, Barrick Gold and Kinross Gold plunged more than 10 percent. Meanwhile, iShares Gold Trust and SPDR Gold Trust both fell more than 7 percent each.
OpenTable slumped after JPMorgan cut its rating on the online restaurant reservation website to "neutral" from "overweight."
Also among pharmaceutical companies, Acorda Therapeutics soared after the results of a mid-stage test of its multiple sclerosis drug Ampyra showed improved walking ability in people who suffered a stroke.
Netflix gained after BTIG started coverage of the movie rental and streaming company with a "buy" rating and $250 price target.