Midday Stock RoundupTuesday, May 14, 2013
The S&P 500 rose 0.86% to 1,647.83 in afternoon trading Tuesday.
The Dow Jones industrial average was up 0.60% to 15,182.19, while the Nasdaq was up 0.68% to 3,462.26.
The yield on a 10-year Treasury bond rose 1.25% to 1.95%.
The price of gold was off 0.74% to $1,423.70 per ounce.
Shares of Irvine heart valve maker Edwards Lifesciences Corp. were up about 6% to $71.25 after its board approved a $750 million share repurchase program. Edwards, which had a recent market value of $8.05 billion, also said its chief financial officer, Thomas M. Abate, plans to retire this year. The company has hired a search firm to assist with finding Abate's replacement.
Shares of Santa Ana-based Corinthian Colleges Inc. rose about 5% to $2.11, for a market value of $181.84 million. The education sector was generally up on Tuesday, with competitors ITT Educational Services Inc. jumping about 13% and Apollo Group Inc. rising about 8%.
Huntington Beach-based BJ's Restaurants Inc.’s shares rose about 2% to $37.08 after Zacks Equity Research upgraded the company’s stock from “underperform” to “neutral,” citing the company’s revenue growth and expansion plans, among other factors for the new rating. BJ’s had a recent market value of $1.04 billion.
Seal Beach-based Clean Energy Fuels Corp. was up about 2% to $13.69, for a market value of $1.21 billion. The International Energy Agency released new data projecting an increase in natural gas’ share of the transportation fuels market from 1.4% in 2010 to 2.5% in 2018.