Midday Stock RoundupMonday, August 27, 2012
The Nasdaq rose less than 1% to 3,076 in midday trading Monday, while the Dow Jones Industrial Average was down less than 1% to 13,150.
The S&P 500 was up less than 1% to 1,414.
The yield on a 10-year treasury bond was down nearly 2% to 1.65%.
The price of gold was up less than 1% to $1,674.30 per ounce.
Shares of Newport Beach-based patent licensor Acacia Research Corp. were up 4% to $26 to a market value of about $1 billion. Acacia said Monday it had reached a settlement agreement with Fujitsu Semiconductor America Inc. and Fujitsu Semiconductor Ltd. on previously pending patent litigation.
Tustin drug developer Peregrine Pharmaceuticals Inc. was down 14% to $2 after a critical article was published on investor website Seeking Alpha on Monday. Peregrine had a recent market value of $202 million.
Shares of Irvine-based Impac Mortgage Holdings Inc. were up 16% to $5 for a recent market capitalization of $40 million. The company’s shares have been rising since it reported increased profitability in its mortgage lending business earlier this month.