Afternoon Market Update (AAPL, AMGN, GSK)

Today, Fitch Ratings downgraded Spain's long-term foreign and local currency issuer default ratings from AAA to AA+. Brian Coulton, the head of EMEA sovereign ratings, said, "The downgrade reflects Fitch's assessment that the process of adjustment to a lower level of private sector and external indebtedness will materially reduce the rate of growth of the Spanish economy over the medium-term." The outlook on Spain's ratings is stable. Apple AAPL suffered a rare public setback today after NBC and TBS announced that they do not plan to put their content on AAPL’s latest creation, iPad. This is a significant breakthrough for Adobe and Flash. By 12:53 pm, AAPL was up 0.65% to $255. Amgen Inc AMGN today announced that its new drug, Prolia, a treatment of osteoporosis, has won approval for sale in Europe as the European Commission (EC) granted marketing authorization for the drug. The drug will be marketed by GlaxoSmithKline GSK. Will Dere, the senior vice president and international chief medical officer at Amgen, said, "The European approval of Prolia is a significant medical advance for patients with bone loss conditions." By 1:04 pm, AMGN had climbed 0.87% to $51.87. Read more from Benzinga's Markets.