Midday Stock RoundupTuesday, August 13, 2013
The S&P 500 rose 0.39% to 1,696 in afternoon trading Tuesday.
The Dow Jones industrial average was up 0.48% to 15,493.03, while the Nasdaq was up 0.35% to 3,682.84.
The yield on a 10-year Treasury bond rose 3.76% to 2.70%.
The price of gold fell 1.06% to $1,320.10 per ounce.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. shares were up about 4% to $4.70 for a market value of $682.65 million. The company said after the close of trading Monday that it inked a three-year deal with Merck & Co. to co-promote Merck's JANUVIA treatments for type 2 diabetes.
Irvine-based TRI Pointe Homes Inc. rose about 4% to $15.50, after it released better-than-expected, second-quarter results and raised its new-home deliveries and revenue guidance for the year. TRI Pointe had a recent market value of $489.75 million.
Other homebuilders here and the rest of the nation were generally down on Tuesday.
Irvine-based Standard Pacific Corp. was off about 3% to $7.74 for a market value of $2.69 billion.
Newport Beach-based William Lyon Homes slipped about 3% to $21.83 for a market value of $686.114 million.