Midday Stock RoundupFriday, 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.
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.
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.