Midday Stock RoundupWednesday, January 15, 2014
The S&P 500 was up 0.45% to 1,847.20 in afternoon trading Wednesday.
The Dow Jones Industrial Average rose 0.67% to 16,483.49, while the Nasdaq rose 0.63% to 4,209.31.
The yield on a 10-year Treasury bond was up 1.15% to 2.90%.
The price of gold was off 0.50% to $1,239.20 per ounce.
Irvine-based heart valve maker Edwards Lifesciences Corp. rose about 2.5% to $72.36 for a market value of $7.92 billion. A federal jury found that Minnesota rival Medtronic Inc.'s CoreValve infringes on one of Edward's heart valve patents.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. was up about 5% to $3.77 for a market value of $573.44 million. The company's shares have risen about 10% since Monday when it released preliminary results for the December quarter that showed revenue growth of its primary drug, Nuedexta.
Huntington Beach-based BJ's Restaurants Inc. was up about 3% to $30.32 for a market value of $855.84 million. Buckingham Research initiated coverage of the restaurant operator this month with a "neutral" rating on its stock. Restaurant companies were generally up on Wednesday.
Irvine-based networking equipment maker Lantronix Inc. continued its rise from Tuesday, trading on unusually high volume and up 22% to $2.80. Lantronix had a recent market value of $40.82 million.