Orange County Business Journal

Midday Stock Roundup

Tuesday, July 17, 2012

The Nasdaq was down 0.42% to 2,884.85, while the Dow Jones Industrial Average was down 0.29% to 12,690.09 in midday trading today.

The yield on a 10-year treasury bond was up 0.48% to 1.47%.

Gold prices fell 1.09% to $1,574.30 per ounce.

Orange County's biggest gainer in midday trading was Tustin-based Peregrine Pharmaceuticals Inc. Peregrine’s shares were up 12.43% to a market value of about $123 million a day after the company reported mixed results for the April quarter. Revenue fell 24% to about $2 million for the period, with a loss of nearly $11 million. The company also reported what it described as strong data on a treatment for lung cancer patients as well as an expanded pipeline of clinical studies and other new programs.

Other Tuesday gainers included Anaheim-based Pacific Sunwear of California Inc. with shares up 3.3% to $1.89. Pacific Sunwear had a recent market value of $127.27 million.

Shares of Anaheim-based Bridgford Foods Corp. were up 3.54% to $8.49. Bridgford had a recent market value of about $78 million.

Shares of larger public companies held steady through the morning.

Orange County’s biggest loser in midday trading was Santa Ana-based SRS Labs Inc. The company’s shares fell 7.67% to $7.95 to a recent market value of about $115 million.

SRS is being acquired by DTS Inc. of Calabasas. DTS lowered its revenue estimate for the second quarter in an announcement made Monday and also said it expects its profit for the quarter to be impacted by the SRS buy.

Shares of Irvine-based TigerLogic Corp. fell 7.12% to $1.76. TigerLogic had a recent market value of about $50 million.

Lantronix Inc. of Irvine saw its share price fall 5.33% to $2.13. The company had a recent market value of about $31 million.