Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Tuesday, October 29, 2013

The S&P 500 rose 0.38% to 1,768.81 in afternoon trading Tuesday.

The Dow Jones Industrial Average was up 0.56% to 15,656.14, while the Nasdaq was up 0.09% to 3,943.72.

The yield on a 10-year Treasury bond rose 0.24% to 2.52%.

The price of gold slipped 0.48% to $1,345.70 per ounce.

HEALTHCARE

Irvine-based drug maker Allergan Inc. shares were down less than 1% to $92.46 for a market value of $27.45 billion. The company said Tuesday it struck a deal to sell its Lap-Band and Orbera devices to Austin-based Apollo Endosurgery Inc. for $75 million. In a separate announcement, Allergan announced better-than-expected third-quarter results, but projected a profit for the current quarter slightly less than consensus estimates.

APPAREL

Shares of Huntington Beach-based Quiksilver Inc. were up about 8% to $8.01 for a market value of $1.35 billion. The action sports apparel maker and retailer disclosed the sale price of its Mervin Manufacturing Inc. snowboard subsidiary for $51.5 million to York, Pa.-based Extreme Holdings Inc. in a filing with the Securities & Exchange Commission on Monday.