Orange County Business Journal

Midday Stock Roundup

Kari Hamanaka Monday, January 6, 2014

The S&P 500 was off 0.11% to 1,828.81 in afternoon trading Monday.

The Dow Jones Industrial Average fell 0.11% to 16,451.66, while the Nasdaq slipped 0.37% to 4,116.99.

The yield on a 10-year Treasury bond was down 1.50% to 2.95%.

The price of gold rose 0.02% to $1,238.80 per ounce.

HEALTHCARE

Peregrine Pharmaceuticals Inc. shares shot up about 23% to $1.78 for a market value of $285.38 million. The Tustin-based drug developer said Monday it received approval from the Food and Drug Administration for fast track designation on its bavituximab drug used to treat lung cancer.

SERVICES

Irvine-based CorVel Corp. fell about 4.5% to $46.02 after closing up 1% on Friday on an article on investor website Seeking Alpha that said it expects the company's revenue to grow as a result of the Affordable Care Act. The company, which provides workers’ compensation software and services to the healthcare industry, had a recent market value of $963.43 million.