Midday Stock RoundupThursday, September 27, 2012
The Nasdaq was up 0.42% to 3,107 in midday trading Thursday, while the Dow Jones Industrial Average rose 0.02% to 13,417.
The S&P 500 was up 0.25% to 1,437.
The yield on a 10-year treasury bond rose 0.99% to 1.63%.
The price of gold was up 0.86% to $1,769 per ounce.
Shares of Tustin-based drug developer Peregrine Pharmaceuticals Inc. were off about 36% to $1.05 for a recent market value of $109 million. Peregrine's stock has been up and down this week, starting with a 76% drop on Monday after the company told analysts it had found major discrepancies in trial data for its lung cancer treatment bavituximab.
Irvine media company Local Corp. was up about 8% to $2, a day after the company reiterated guidance for the September quarter. Local said it expects to break even on adjusted net income for the September quarter and have revenue of $24.5 million, up 18% from a year earlier.
Shares of Irvine-based TigerLogic Corp. were up about 17% to $2. The company had a market value of about $59 million.