Midday Stock RoundupTuesday, July 16, 2013
The S&P 500 was off 0.58% to 1,672.68 in afternoon trading Tuesday.
The Dow Jones industrial average fell 0.39% to 15,423, while the Nasdaq slipped 0.42% to 3,592.28.
The yield on a 10-year Treasury bond was down 0.67% to 2.54%.
The price of gold was up 0.48% to $1,289.60 per ounce.
Irvine-based drug maker Allergan Inc. was down about 3% to $90 for a market value of $26.68 billion. Drug makers were generally down on Tuesday.
Shares of Huntington Beach-based action sports apparel maker and retailer Quiksilver Inc. were off about 3% to a $6.69. The company had a recent market value of $1.12 billion.
Apparel companies were generally down on Tuesday.
Quiksilver rival Billabong International Ltd. of Australia said it struck a $294 million bridge loan deal and appointed former Oakley Inc. head Scott Olivet to be chief executive and managing director of the company. The action sports apparel maker and retailer also plans to sell its Hood River, Oregon-based Dakine unit to Palo Alto-based private equity firm Altamont Capital Partners for $64.5 million.
Trading of Billabong International shares were halted late yesterday on the Australian Securities Exchange where it had a recent market value of $112.47 million.