Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Friday, October 11, 2013

The S&P 500 was down 0.55% to 1,701.88 in afternoon trading Friday.

The Dow Jones Industrial Average rose 0.63% to 15,221.10, while the Nasdaq rose 0.76% to 3,789.45.

The yield on a 10-year Treasury bond slipped 0.60% to 2.67%.

The price of gold fell 2.21% to $1,268.20 per ounce.

EDUCATION

Santa Ana-based for-profit school operator Corinthian Colleges Inc. was down about 4% to $1.96, a day after California Attorney General Kamala Harris filed a lawsuit against Corinthian accusing the company of predatory practices targeting "low-income, vulnerable Californians."

Corinthian said in a filing with the Securities & Exchange Commission that it is “committed to regulatory compliance and has robust processes in place to correctly record and disclose the job placement information we receive from our graduates and their employers.” Corinthian added that it will “vigorously defend” itself against the complaint’s allegations.

Corinthian had a recent market value of $169.39 million.

RETAIL

Foothill Ranch-based teen retailer Wet Seal Inc. rose about 3% to $3.81 after an analyst at Dougherty & Co. upgraded the company's stock from "neutral" to "buy" saying the company is positioned well for the holiday selling season. Wet Seal had a recent market value of $322.79 million.

REAL ESTATE

Irvine-based Standard Pacific Corp. was up about 3% to $7.81 for a market value of $2.7 billion.

Homebuilders were generally up on Friday.