Midday Stock RoundupTuesday, July 9, 2013
The S&P 500 rose 0.63% to 1,650.81 in afternoon trading Tuesday.
The Dow Jones industrial average was up 0.41% to 15,286.40, while the Nasdaq was up 0.41% to 3,499.07.
The yield on a 10-year Treasury bond was off 0.79% to 2.62%.
The price of gold rose 0.87% to $1,246.90 per ounce.
Irvine homebuilder Standard Pacific Corp. rose about 6% to $8.09 after JPMorgan Chase & Co. upgraded the company's stock from "underweight" to "neutral." Standard Pacific had a recent market value of $2.8 billion.
Costa Mesa-based networking equipment maker Emulex Corp. rose about 4% to $7.96 for a market value of $723.23 million. New York investment firm Starboard Value LP said in a filing with the Securities and Exchange Commission on Monday that it bought a 6.9% stake in Emulex.
Shares of Newport Beach-based patent licensing company Acacia Research Corp. were up about 3% to $23.96 a day after the company announced the appointment of a new chief executive. Acacia had a recent market value of $1.18 billion.