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Tuesday, Apr 16, 2024
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Midday Stock Roundup

The S&P 500 rose 1.4% to 3,853.62 during midday trading.

The Dow Jones Industrial Average was up 0.8% to 31,183.67.

The Nasdaq climbed 1.9% to 13,441.96.

The yield on a 10-year Treasury bond rose 0.183% to 1.094%.

The price of gold ticked up 1.4% to $1,866.

The price for a barrel of oil rose 1.1% to $53.54.

SERVICES

Santa Ana-based collectibles authenticator Collectors Universe Inc. (Nasdaq: CLCT) jumped 18% to $91.60 and an $830 million market cap. A group of investors led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners L.P., and Cohen Private Ventures LLC today increased its offer to $92 a share, up from a $75.25 offer made in November. The company today also reported preliminary second-quarter revenue of $35.4 million, almost double the $19.5 million in the same period a year ago.

HOME BUILDER

Irvine-based TriPointe Homes Inc. (NYSE: TPH) climbed 12% to $20.54 for a $2.6 billion market cap. The home builder yesterday announced that it is consolidating its six regional homebuilding brands into one unified name—Tri Pointe Homes. The previously named TRI Pointe Group Inc. was renamed Tri Pointe Homes, Inc., and each of its 15 divisions across the nation will operate under the name Tri Pointe Homes.

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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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