The S&P 500 rose 0.47% to 1909.40 in afternoon trading Tuesday.
The Dow Jones Industrial Average was up 0.37% to 16,667.54, while the Nasdaq was up 0.85% to 4,221.50.
The yield on a 10-year Treasury bond fell 0.16% to 2.53%.
The price of gold was down 1.93% to $1,266.80.
APPAREL
The apparel and retail sector was up in afternoon trading, with several OC-based companies reflecting the trend. Anaheim-based Pacific Sunwear of California Inc. was up 3.7% to $3.11. Wet Seal in Foothill Ranch was up 2.8% to 0.98. Irvine-based Tilly’s was up 1.7% to 10.68. Quiksilver Inc. in Huntington Beach was up 4.34% to $6.49. Quiksilver merited mentioned in Analysts Review this morning for appointing industry veteran Bernd Beetz to its board, and also got a positive mention for long-term potential from the Motley Fool website yesterday. Wet Seal releases Q1 earnings tonight after markets close. Tilly’s releases Q1 numbers after close tomorrow.
HEALTHCARE
Allergan was down 1.6% to $164.24 in advance of an expected revised bid from Valeant, set to be announced tomorrow. Allergan earlier today questioned its suitor’s business model and projected cost savings from an eventual merger, citing analysis from two outside financial and forensic consultants. Buckingham upgraded Allergan to buy from neutral, raising its target price from $180 to $207. JP Morgan late last week said Valeant would have to raise its bid to the $180 to $200 range to complete its takeover.
