Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Thursday, January 24, 2013

The S&P 500 fell 0.05% to 1,494 in midday trading Thursday.

The Dow Jones Industrial Average was up 0.28% to 13,818, while the Nasdaq was down 0.67% to 3,133.

The yield on a 10-year treasury bond rose 1.42% to 1.86%.

The price of gold was off 1.03% to $1,669 per ounce.

Shares of Irvine-based chipmaker Broadcom Corp. were off about 2% to $34 for a market value of about $19.2 billion. Cupertino-based Apple Inc., Broadcom’s largest customer, was down about 12% in afternoon trading to a market value of approximately $428 billion, a day after reporting disappointing results for the quarter ended Dec. 29

Irvine-based Western Digital Corp. was up about 4% to $49, a day after the disk drive maker reported better-than-expected earnings and revenue for the December quarter. Western Digital had a recent market value of roughly $11.9 billion.

Shares of Irvine medical device maker Endologix Inc. was up about 4% to $15 for a market value of approximately $951 million. The company said it received the Conformité Européenne Mark, indicative of European regulatory compliance, for improvements made to its Nellix EndoVascular Aneurysm sealing device. This was updated from a previous version of the device that received European regulatory approval in October.

Irvine online media company Local Corp. were off about 10% to $2 for a market value of about $42.5 million. Local released unaudited results for the fourth quarter that fell below earlier guidance provided by the company.