Midday Stock RoundupFriday, August 24, 2012
The Nasdaq was up about half a percent to 3,069 in midday trading Friday, while the Dow Jones Industrial Average was up nearly 1% to 13,136.
The S&P 500 rose about half a percent to 1,410.
The yield on a 10-year treasury bond was up less than 1% to 1.67%.
The price of gold rose less than 1% to $1,675.
Shares of Irvine-based homebuilder Standard Pacific Corp. rose about 3% to $7, for a market cap of more than $2 billion.
Tustin drug maker Peregrine Pharmaceuticals Inc. was off about 12% to $2, for a recent market value of $233 million. A Seeking Alpha report published earlier this week called the results of Peregrine’s cancer drug bavituximab “overhyped” and “inconclusive” (see the Business Journal’s upcoming print edition of Aug. 27 for more).