Midday Stock RoundupWednesday, July 9, 2014
The S&P 500 rose 0.24% to 1,968.43 in midday trading Wednesday.
The Dow Jones Industrial Average was up 0.22% to 16,943.31, while the Nasdaq was up 0.41% to 4,409.39.
The yield on a 10-year Treasury bond rose 0.5% to 2.58%.
The price of gold was up 0.56% to $1,324.50.
Broadcom Corp. was up 1.3% to $38.12 and a market cap of $22.3 billion. New York City-based Oppenheimer & Co. Inc. upgraded the stock to “outperform” from “market perform” and set a target price of $45, saying the company’s business will grow by least mid-single digits this year.
OC homebuilders were down on sector weakness. Irvine-based Standard Pacific Corp. was flat at $8.37 to a market cap of $2.3 billion. Newport Beach-based William Lyon Homes was down 1.4% to $30 and a market of $936.7 million. Irvine-based Tri Pointe Homes Inc. was down 1.4% to $15.82 and a market cap of $501 million. Aliso Viejo-based New Home Company LLC was down 1.5% to $14 and a market cap of $230 million.