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Friday, Dec 9, 2022
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Midday Stock Roundup

Indexes fell and oil spiked in midday trading after Russia attacked Ukraine. 

The S&P; 500 dropped 1.1% to 4,179.47 in midday trading.

The Dow Jones Industrial Average shed 2% to 32,502.88.

The Nasdaq slumped 0.2% to 13,009.31.

The yield on a 10-year Treasury bond dipped 2.1% to 1.9340%.

The price of gold was up 0.9% at $1,927.20 an ounce.

The price for a barrel of oil jumped 4.8% to $96.52.

CANNABIS

Irvine-based WM Technology, Inc. (Nasdaq: MAPS) surged 21.4% to $5.33 per share and a market cap of $830.5 million. WM Technology, the parent company to Weedmaps, the largest online directory of cannabis dispensaries in the U.S., yesterday reported fourth-quarter sales jumped 22% to $54.2 million, topping the $51.1 million consensus analyst estimate.  The company forecast 2022 revenue of $255 million to $265 million, topping the average analyst estimate of $250.9 million.

MEDICAL DEVICES 

Shares in Staar Surgical Company (Nasdaq: STAA) jumped 11% to $70.09 apiece for a $3.3 billion market cap. The Lake Forest-based implantable lens maker yesterday reported record sales in its fourth-quarter and full-year 2021 results. Net sales for the fourth quarter were $59 million, up 28% from the prior-year quarter. The company reported an adjusted profit of 19 cents a share, up from the consensus analyst estimate of 10 cents.

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