Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Friday, September 13, 2013

The S&P 500 was up 0.26% to 1,687.74 in afternoon trading Friday.

The Dow Jones industrial average rose 0.46% to 15,370.87, while the Nasdaq rose 0.08% to 3,718.90.

The yield on a 10-year Treasury bond slipped 0.52% to 2.89%.

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

HEALTHCARE

Shares of Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. were off about 17% to $4.13 for a market value of $600.8 million. The company's shares were trading on unusually high volume Friday after its stock took a hit earlier in the week on a Seeking Alpha report written by short seller Gravity Research that questioned the company's solvency. Wedbush reiterated its "outperform" rating on the company's stock Thursday.

MANUFACTURING

Newport Beach specialty chemical products maker American Vanguard Corp. rose about 2% to $26.22 for a market value of $751.6 million. Chemical companies were generally up on Friday.

SERVICES

Irvine-based Resources Connection Inc. was up about 2% to $13.45 for a market value of $536.4 million. The company announced new data governance, or data handling, services on Thursday.