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Wednesday, Aug 17, 2022
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Midday Stock Roundup

Major U.S. indexes crept back up Friday, after falling the day prior on concerns over the rising COVID case rates nationally.

The S&P 500 rose 1% to 3,572.39 in midday trading.

The Dow Jones increased 1.1% to 29,393.04, while the Nasdaq was up 0.7% to 11,796.63.

Crude oil fell 1.5% to $40.49.

Gold was up 0.9% to $1,890.80.

The yield on a 10-year Treasury rose 1.1% to 0.89%.

HEALTHCARE

Urovant Sciences Ltd. (Nasdaq: UROV) jumped 94% to $16.02, a day after Sumitovant Biopharma said it planned to buy the Irvine-based drugmaker for $16.25 a share, which is about $584 million in cash. It now has a market cap of $507 million.

Sabra Healthcare REIT Inc. (Nasdaq: SBRA), with a market cap of $3.4 billion, rose 4.2% to $16.38. The Irvine-based healthcare real estate investment trust was trading on volume lower than its daily average and is down about 23% from the start of the year.

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