Midday Stock RoundupFriday, December 13, 2013
The S&P 500 was up 0.19% to 1,778.95 in afternoon trading Friday.
The Dow Jones Industrial Average was up 0.28% to 15,784.73, while the Nasdaq was up 0.25% to 4,008.44.
The yield on a 10-year Treasury bond was off 0.38% to 2.86%.
The price of gold rose 0.78% to $1,234.40 per ounce.
Huntington Beach-based Quiksilver Inc. shares rose about 9% to $8.43 for a market value of $1.42 billion. The action sports apparel maker and retailer reported its fourth-quarter and full-year results after market close Thursday. B. Riley & Co. upgraded the company’s shares from “neutral” to “buy” and raised its price target to $6.50 to $10, citing progress on a turnaround that apparently outweighed a swing to a loss and miss on analyst estimates on revenue in the quarter.
Local retailers were up, despite a mixed bag for chains nationally.
Anaheim-based action sports retailer Pacific Sunwear of California Inc. rose about 4% to $3.28 for a market value of $224.89 million.
Foothill Ranch teen and contemporary retailer Wet Seal Inc. rose 3% to $2.48 for a market value of $210.11 million.
Action sports retailer Tilly's Inc. of Irvine was moving less than 1% to $11.25 for a market value of $312.40 million.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was down about 5% to $3.01, continuing a decline that began earlier this week following an analyst downgrade and disappointing clinical trial results. Avanir had a recent market value of $437.13 million.