Midday Stock RoundupFriday, December 28, 2012
The S&P 500 fell 0.42% to 1,412 in midday trading Friday.
The Dow Jones Industrial Average was off 0.48% to 13,033, while the Nasdaq was down 0.23% to 2,979.
The yield on a 10-year treasury bond was up 0.17% to 1.72%.
The price of gold fell 0.38% to $1,657 per ounce.
Shares of Anaheim-based Questcor Pharmaceuticals Inc. fell for the second day in a row by about 5% to $26. Blue Cross Blue Shield Michigan recently said its coverage of Questcor’s sole drug H.P. Acthar Gel would be limited to treatment of infantile spasms. Questcor had a recent market value of $1.6 billion.
Newport Beach patent licensing company Acacia Research Corp. rose about 5% to $25 for a market value of $1.3 billion. Acacia announced on Friday a licensing agreement with Nokia Siemens Networks and in separate news said its subsidiary Radiation Stabilization Solutions reached a settlement agreement with Varian Medical Systems Inc. The Friday announcements came a day after Acacia said it purchased the rights to a portfolio of patents in the orthopedic sector.
Shares of Irvine-based medical device maker Endologix Inc. rose about 6% to $14 for a market value of about $882 million.
Shares of Irvine-based Resources Connection Inc. were up about 4% in afternoon trading to $11.89, for a market value of about $490 million.
Resources Connection which operates as Resources Global Professionals, provides consulting services on finance, accounting and other management areas.