Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Wednesday, April 17, 2013

The S&P 500 fell 1.59% to 1,549.60 in afternoon trading Wednesday.

The Dow Jones industrial average was off 1% to 14,608.82, while the Nasdaq was off 1.98% to 3,200.15.

The yield on a 10-year Treasury bond fell 2.09% to 1.68%.

The price of gold was down 0.58% to $1,378.80 per ounce.

TECHNOLOGY

The sector was generally down in afternoon trading Wednesday following a disappointing revenue forecast for Cirrus Logic Inc. The Austin, Texas-based chipmaker supplies audio chips for Cupertino-based Apple Inc.’s iPads and iPhones, and its revenue forecast revived fears of slowing iPad and iPhone sales, which sent Apple’s shares down about 5% to $379.89 billion.

Irvine-based chipmaker Broadcom Corp. was off about 4% to $32.65 for a market value of $18.54 billion.

Shares of Irvine disk drive maker Western Digital Corp. were off about 3% to $50.45 for a market value of $12.18 billion.

Santa Ana-based technology distributor Ingram Micro Inc.’s shares were down about 3% to $17.54 for a market value of $2.64 billion.

Aliso Viejo-based chipmaker Microsemi Corp. was off about 4% to $19.99 for a market value of $1.83 billion.

Aliso Viejo-based networking-equipment maker QLogic Corp. was down about 4% to $10.48 for a market value of $957.64 million.

HEALTHCARE

Irvine-based heart valve maker Edwards Lifesciences Corp.’s shares fell about 2% to $83.39 for a market value of $9.48 billion.

Mission Viejo-based home healthcare provider and hospice operator Ensign Group Inc. was down about 4% to $33.46 for a market value of $727.74 million.

REAL ESTATE

Irvine homebuilder Standard Pacific Corp. fell about 4% to $7.69 with homebuilders generally down in midday trading. Standard Pacific had a recent market value of $2.7 billion.

MANUFACTURING

Foothill Ranch-based specialty aluminum products maker Kaiser Aluminum Corp.’s shares were down about 3% to $59.05 for a market value of $1.13 billion.

Newport Beach specialty chemical products maker American Vanguard Corp. was off about 4% to $28.72 for a market value of $819.26 million.