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Friday, Dec 8, 2023
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Midday Stock Roundup

The S&P 500 was up 0.4% to 3,814.59 in midday trading today.

The Dow Jones Industrial Average increased 0.2% to 31,124.79 while the Nasdaq rose 0.6% to 13,151.79.

Crude oil slipped 0.5% to $52.97.

Gold rose 0.8% to $1,858 an ounce.

The yield on a 10-year Treasury bond was off 4.5% to 1.087%.

MEDICAL DEVICE MAKERS

Shares of Irvine-based Inari Medical Inc. (Nasdaq: NARI) popped 12% to $95.53 and a $4.9 billion market cap. The medical device maker, whose products treat blood clots in veins, yesterday reported preliminary fourth-quarter revenue was in the range of $47.9 million to $48.9 million. Analysts expected on average $38.5 million.

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) climbed 6.1% to $13.83 and an $840 million market cap. Shares of Avid, a contract manufacturer of biologics, have jumped about 20% since Jan. 1 and are now up about four-fold since last March.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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