Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Monday, July 23, 2012

The Nasdaq was down 1.42% to 2,883.57 in midday trading, while the Dow Jones Industrial Average was off 0.98% at 12,697.28.

The yield on a 10-year treasury bond dipped 1.3% to 1.44%.

Gold prices fell 0.37% to $1,581.50 per ounce.

Shares of Orange County’s larger public companies were generally down in midday trading.

Newport Beach-based Acacia Research Corp. declined 6.12% to $32. Acacia, which is a patent licensing company, had a recent market cap of about $1.5 billion.

Shares of Costa Mesa-based Ceradyne Inc. were down 5% to $21.76 to a recent market value of about $529 million.

Ceradyne is a maker of ceramic-based products for the defense, industrial and commercial industries.

Peregrine Pharmaceuticals Inc. of Tustin was the biggest gainer among smaller public companies here, as it shares surged 35% to $1.73 for a market value of about $178 million.

Shares of Foothill Ranch-based teen retailer Wet Seal Inc. were down 10.47% to $2.64. The company announced earlier today it has begun a search for a new chief executive following the termination of former Chief Executive Susan McGalla. Wet Seal had a recent market value of about $235 million.