Midday Stock RoundupWednesday, November 14, 2012
The Nasdaq was off 0.35% to 3,874 in midday trading Wednesday, while the Dow Jones Industrial Average was down 0.55% to 12,689.
The S&P 500 fell 0.43% to 1,369.
The yield on a 10-year treasury bond was up 0.25% to 1.59%.
The price of gold rose 0.30% to $1,730 per ounce.
Irvine-based Broadcom Corp. rose about 2% to $31 for a market capitalization of $17.6 billion. The chipmaker’s stock was rated “outperform” by JMP Securities on better than-expected first-quarter results for San Jose-based Cisco Systems Inc., which is seen as potentially benefitting Broadcom’s business.
Shares of Irvine Edwards Lifesciences Corp. fell about 2% to $86 after UBS downgraded the medical device maker’s stock from “neutral” to “sell” on concerns related to doctors’ use of its Sapien transcatheter aortic heart valve. Edwards had a recent market value of $9.9 billion.
Seal Beach-based Clean Energy Fuels Corp. shares continued their climb from Tuesday, up about 5% to $13 for a market value of $1.1 billion. Clean Energy shares jumped 11% Tuesday after the company announced up to $200 million in financing from GE Energy Financial Services to acquire two plants from GE Oil & Gas. The plants liquefy natural gas for use by long-haul truck drivers.