Midday Stock RoundupTuesday, July 31, 2012
The Nasdaq was down 0.05% to 2,944.23 in midday trading, while the Dow Jones Industrial Average fell 0.27% to 13,037.82.
The S&P 500 was off 0.26% to 1,381.64.
The yield on a 10-year bond rose 0.07% to 1.5%.
The price of gold fell 0.49% to $1,616 per ounce.
Newport Beach-based patent licensor Acacia Research Corp.’s shares were down by 10% to $28.35 to a market value of about $1 billion. Acacia signed a settlement agreement on a patent claim against Citigroup Inc. for undisclosed terms.
Shares of Irvine-based homebuilder Standard Pacific Corp. were down 8.88% to $5.69 after announcing stock offerings earlier today, with proceeds expected to go toward the purchase and development of land, among other uses. Standard Pacific has a market value of about $1 billion.