Midday Stock RoundupFriday, December 14, 2012
The S&P 500 fell 0.30% to 1,415 in midday trading Friday.
The Nasdaq was off 0.49% to 2,978, while the Dow Jones Industrial Average was down 0.13% to 13,153.
The yield on a 10-year treasury bond fell 1.68% to 1.69%
The price of gold was down 0.01% to $1,696 per ounce.
Irvine-based chipmaker Broadcom Corp. fell for the second day in a row by about 4% to $32 for a market value of $18 billion. Broadcom’s largest customer Apple Inc. of Cupertino saw its stock hit a 10-month low on Friday after a UBS analyst trimmed the company’s target price citing order cuts and unresolved assembly issues. Apple’s iPhone 5 also debuted in China to slower-than-expected sales.
Huntington Beach-based Quiksilver Inc. fell about 15% to $3, a day after the company reported disappointing results for the fourth quarter. The action sports apparel maker and retailer had a recent market value of $574 million.