The S&P 500 was up 0.33% to 1,499 in midday trading Friday.

The Dow Jones Industrial Average rose 0.33% to 13,871, while the Nasdaq rose 0.38% to 3,142.

The yield on a 10-year treasury bond was up 4.61% to 1.93%.

The price of gold fell 0.74% to $1,658 per ounce.

Shares of Irvine-based homebuilder Standard Pacific Corp. were up about 3% to $8 for a recent market value of about $2.9 billion. Standard Pacific said earlier this week it bought 675 acres of Florida land where it plans to build 1,180 homes.

Santa Ana-based First American Financial Corp. were off about 4% to $24, a day after the company announced pricing on a public offering of $250 million of its senior notes. First American had a recent a market value of $2.5 billion.

Shares of Aliso Viejo-based Sunstone Hotel Investors Inc. were up about 4% to $12 after the company announced the sale of four Minnesota hotels and raised its fourth-quarter and full-year 2012 earnings guidance. Sunstone had a recent market value of $1.7 billion.

Aliso Viejo-based networking-equipment maker QLogic Corp. shot up about 13% to $12 for a market value of $1.1 billion, a day after reporting better-than-expected results for the third quarter.