Midday Stock RoundupMonday, August 26, 2013
The S&P 500 was up 0.25% to 1,667.61 in afternoon trading Monday.
The Dow Jones industrial average rose 0.14% to 15,031.78, while the Nasdaq rose 0.66% to 3,681.86.
The yield on a 10-year Treasury bond was off 0.50% to 2.80%.
The price of gold fell 0.23% to $1,392.60 per ounce.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was up about 5% to $5.24 after Piper Jaffray Cos. reiterated its "overweight" rating on the company's stock and expects more deals for Avanir with companies looking to sell generic versions of its Nuedexta drug. Avanir had a recent market value of $761.53 million.
Anaheim drug maker Questcor Pharmaceuticals Inc. was up about 3% to $73.89 for a market value of $4.35 billion.
Newport Beach-based patent licensing company Acacia Research Corp. was up about 3% to $22.61 for a market value of $1.13 billion. The company last week said one of its subsidiaries reached a settlement agreement in a patent infringement case with Google Inc.