Midday Movers: ABX, KGC, IAU & More

Market Insider | What's Shaking | Stocks to Watch

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.

Homebuilders including Meritage Homes, Ryland and Toll Brothers tumbled more than 5 percent each as homebuilder sentiment slipped for the third consecutive month in April.

OpenTable slumped after JPMorgan cut its rating on the online restaurant reservation website to "neutral" from "overweight."

GlaxoSmithKline and Theravance rose after the FDA said that overall safety for Breo, a drug to treat lung disease, made by the two drugmakers appears consistent with similar drugs.

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.

—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

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    JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

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    Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

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