Midday Stock RoundupFriday, June 27, 2014
The S&P 500 declined 0.08% to 1,955.59 in midday trading Friday.
The Dow Jones Industrial Average was down 0.22% to 16,809.30, while the Nasdaq was up 0.17% to 4,386.44.
The yield on a 10-year Treasury bond rose 0.08% to 2.53%.
The price of gold was up 0.24% to $1,320.10.
Irvine-based Allergan Inc. is up 1.1% to $172.36 and a market capitlization of $51.3 billion. The drug maker settled a lawsuit on its poison pill provision clearing the way for New York-based hedge fund Pershing Square Capital Management to solicit backing for a special shareholders’ meeting. Meanwhile Chesterbrook, Pa.-based Auxilium Pharmaceuticals Inc. is up 18% on agreeing to merge with Vancouver, Canada-based QLT Inc.
Newport Beach-based patent licensing Acacia Research Corp. was up 1.25% to $17.03 and a market cap of $852 million. It said its Online News Link LLC subsidiary had settled pending litigation with Wayfair LLC.
Santa Ana-based for-profit schools operator Corinthian Colleges Inc. fell 9% to 0.27 and a market cap of $24 million. Twelve U.S. Senators said its schools should not be allowed to accept new students without disclosing its financial troubles.