Midday Stock RoundupFriday, August 23, 2013
The S&P 500 was up 0.20% to 1,660.32 in midday trading Friday.
The Dow Jones industrial average rose 0.12% to 14,981.44, while the Nasdaq rose 0.38% to 3,652.36.
The yield on a 10-year Treasury bond was off 2.55% to 2.83%.
The price of gold rose 1.77% to $1,395.10 per ounce.
Shares of homebuilders fell on a U.S. Census Bureau report of a 13.4% fall in single-family home sales in July.
Irvine-based Standard Pacific Corp. was off about 4% to $7.58 for a market value of $2.63 billion.
Newport Beach-based William Lyon Homes was down about 3% to $21.22 for a market value of $667.09 million.
TRI Pointe Homes Inc. fell about 3% to $14.91 for a market value of $471.11 million.
This week has been a rollercoaster ride for local and national chains after a raft of quarterly earnings results produced a mixed view of the retail landscape.
OC teen retailers took a hit on Friday on the quarterly results for New York-based Aeropostale Inc., which tanked about 20%, to a market value of $687.37 million, a day after reporting disappointing quarterly results. Aeropostale echoed a now-familiar sentiment of weak traffic and heavy discounting for teen retail.
Anaheim-based Pacific Sunwear of California Inc. shares were trading down about 6% to $3.57 for a market value of $244.20 million.
Foothill Ranch-based Wet Seal Inc. was down about 4% to $3.67. Wet Seal, which had a recent market value of $326.10 million, said in a Securities & Exchange Commission filing on Thursday that a major shareholder is pushing for reinstatement of a share repurchase program. The company recently completed its $25 million buyback program announced earlier this year.
Irvine-based Tilly's Inc. was down about 2% to $12.90 for a market value of $357.54 million.
Pacific Sunwear, Wet Seal and Tilly’s are expected to report their quarterly earnings next week.