Midday Stock RoundupMonday, September 16, 2013
The S&P 500 was up 0.81% to 1,701.67 in afternoon trading Monday.
The Dow Jones Industrial Average was up 0.95% to 15,521.86, while the Nasdaq was up 0.23% to 3,730.84.
The yield on a 10-year Treasury bond was off 1.28% to 2.86%.
The price of gold rose 0.75% to $1,318.40 per ounce.
Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. was up about 15% to $2.64 for a market value of $39.84 million. Quantum said Monday it planned to use most of the $11 million raised through a private placement toward its debt with the rest for working capital.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was up about 10% to $4.48 for a market value of $651.60 million. Shares of Avanir plunged about 30% last week on a Seeking Alpha note by short seller Gravity Research. Analysts at Piper Jaffray reiterated an “overweight” rating on Avanir and said last week’s sell-off was an opportunity to buy for prospective investors.