Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Tuesday, April 16, 2013

The S&P 500 rose 1.27% to 1,572 in afternoon trading Tuesday.

The Dow Jones industrial average was up 0.99% to 14,744.04, while the Nasdaq was up 1.37% to 3,260.44.

The yield on a 10-year Treasury bond rose 1.18% to 1.72%.

The price of gold rose 1.68% to $1,383.90, rebounding from a drop of about 8% on Monday.

TECHNOLOGY

Irvine-based disk drive maker Western Digital Corp. was up about 2.5% to $52.45, after the company announced new software, WD SmartWare Pro, that allows data backup to an external hard drive or cloud through file sharing service Dropbox. Western Digital had a recent market value of $12.61 billion.

Irvine-based chipmaker Broadcom Corp. rose about 2% to $33.85 on a positive article from investor website Seeking Alpha that said the company was positioned well for long-term growth of mobile devices. Broadcom had a recent market value of $19.18 billion.

Aliso Viejo-based chipmaker Microsemi Corp. was up about 2% to $20.82 for a market value of $1.9 billion.

Newport Beach patent licensing company Acacia Research Corp. rose about 2% to $29.40, after closing down nearly 5% on Monday. Acacia had a recent market value of $1.45 billion

MANUFACTURING

Foothill Ranch-based Kaiser Aluminum Corp. rose about 3% to $60.53, a day after the specialty aluminum products maker’s board of directors announced a $0.30 quarterly cash dividend payment. Kaiser had a recent market value of $1.16 billion.