Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Monday, June 10, 2013

The S&P 500 was down 0.01% to 1,643.21 in afternoon trading Monday.

The Dow Jones industrial average was down 0.03% to 15,243.66, while the Nasdaq was up 0.14% to 3,474.07.

The yield on a 10-year Treasury bond rose 2.68% to 2.22%.

The price of gold slipped 0.07% to $1,382 per ounce.

HEALTHCARE

Irvine heart valve maker Edwards Lifesciences Corp. was up about 3% to $69.19 after the company’s stock was upgraded from “neutral” to “outperform” by a Credit Suisse analyst on potential sales from new heart valves. Edwards had a recent market value of roughly $7.82 billion.

Aliso Viejo-based Avanir Pharmaceuticals Inc. continued its climb from last week, up about 11% to $4.18 for a market value of $606.57 million. The drug maker's stock was trading on unusually high volume Monday, about three times its daily average. Avanir is up about 18% since last Wednesday's announcement that the Food and Drug Administration approved an expedited development process for Avanir's AVP-786 drug candidate.

RESTAURANTS

Huntington Beach-based BJ's Restaurants Inc. rose about 2.5% to $38.76 for a market value of $1.09 billion. Restaurant operators were generally up, with McDonald’s Corp. reporting better-than-expected, global same-store sales that were up 2.6% in May.

EDUCATION

Santa Ana-based for-profit school operator Corinthian Colleges Inc. rose about 6% to $2.80 for a market value of $241.3 million. The education sector was generally up on Monday.