Midday Stock RoundupWednesday, September 12, 2012
The Nasdaq was up 0.37% to 3,116 in midday trading Wednesday, while the Dow Jones Industrial Average rose 0.25% to 13,357.
The S&P 500 was up 0.33% to 1,438.
The yield on a 10-year treasury rose 3.36% to 1.75%.
The price of gold was down 0.09% to $1,733 per ounce.
Shares of Newport Beach-based Mindspeed Technologies Inc. were up about 24% to $3 after the networking chipmaker raised its revenue guidance for the fourth quarter. Mindspeed had a recent market value of $128 million.
Santa Ana-based Powerwave Technologies Inc. jumped about 70% to $0.65 for a recent market value of $20 million. Powerwave, which makes cell phone tower equipment, said on Wednesday it had secured a $50 million line of credit with an affiliate of Los Angeles-based private equity firm The Gores Group LLC.