Midday Stock RoundupThursday, March 7, 2013
The S&P 500 rose 0.20% to 1,544.55 in afternoon trading Thursday.
The Dow Jones Industrial Average was up 0.31% to 14,340.98, while the Nasdaq was up 0.19% to 3,228.61.
The yield on a 10-year treasury bond rose 2.58% to 1.99%.
The price of gold was up 0.09% to $1,576 per ounce.
Shares of Irvine-based drug maker Allergan Inc. fell about 1.5% to $109.79, after New York-based Buckingham Research Group downgraded the company’s stock to “neutral.” Allergan had a recent market value of $32.74 billion.
Disk drive maker Western Digital Corp., also in Irvine, was down about 3% to $47.19 for a market value of $11.41 billion. About 2 million of the company’s shares had been traded so far on Thursday, below its average daily volume of 3.7 million. Competitor Seagate Technology LLC of Cupertino was also trading at a volume lighter than its daily average on Thursday, with shares down about 3% to a market value of $11.56 billion.
Shares of Santa Ana-based technology distributor Ingram Micro rose about 2% to $19.64 for a market value of $2.95 billion. The company’s Ingram Micro Canada subsidiary said Thursday that it received authorization to stock, build, test and ship Cisco’s UCS C-Series servers for Cisco-authorized resellers in Canada.
Aliso Viejo-based chipmaker Microsemi Corp. was up about 2% to $21.16 for a market value of $1.93 billion. Microsemi announced the release of new diodes, which controls the flow of electrical currents, to be used by the aerospace and defense industries.