Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Friday, December 20, 2013

The S&P 500 rose 0.68% to 1,821.83 in afternoon trading Friday.

The Dow Jones Industrial Average was up 0.57% to 16,272.02, while the Nasdaq was up 1.12% to 4,103.46.

The yield on a 10-year Treasury bond was off 1.44% to 2.88%.

The price of gold rose 0.80% to $1,203.10 per ounce.

HEALTHCARE

Irvine-based drug maker Allergan Inc. rose about 5% to $108.68 to a market value of $32.3 billion.

The U.S. Patent and Trademark Office lists three new patents for Allergan's Restasis, which prompted Susquehanna Bank to raise its price target on the company from $107 to $122.

Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was up about 14% to $3.27 following disclosure in a filing with the Securities and Exchange Commission that Senior Vice President and Chief Commercial Officer Rohan Palekar's purchased 10,000 of the company’s shares earlier this week. Avanir had a recent market value of $497.57 million.

MANUFACTURING

Newport Beach-based American Vanguard Corp. shares were off about 3% to $22.71 after the specialty chemicals maker said Friday it now expects fourth-quarter sales to be off about 30% from the year-ago period. The company had a recent market value of $650.87 million.