Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Thursday, September 12, 2013

The S&P 500 was down 0.10% to 1,687.36 in afternoon trading Thursday.

The Dow Jones industrial average rose 0.06% to 15,335.91, while the Nasdaq rose 0.03% to 3,726.20.

The yield on a 10-year Treasury bond slipped 1.47% to 2.88%.

The price of gold fell 0.29% to $1,360.10 per ounce.

Irvine drug maker Allergan Inc. was up about 2% to $89.20, a day after the U.S. Food and Drug Administration approved use of its Botox for temporary treatment of crow's feet lines. Allergan had a recent market value of about $26.5 billion.

Aliso Viejo-based Avanir Pharmaceuticals Inc. was back up about 5% to $5.01 after closing down nearly 13% on Wednesday on a Seeking Alpha report written by short seller Gravity Research questioning the company's solvency. Wedbush reiterated its "outperform" rating on the company's stock, writing that the Seeking Alpha report likely was written to drive the company's shares down. Avanir had a recent market value of $728.8 million.