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Saturday, Nov 26, 2022
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Midday Stock Roundup

Indexes fell today as the S&P 500 and Nasdaq are heading for their seventh straight weekly loss, the longest such streak since 2001, accoridng to the Wall Street Journal.

 

The S&P 500 dropped 1.8% to 3,831.16.

The Dow 30 was off 1.4% at 30,823.57.

The Nasdaq slid 2.9% to 11,062.89.

Crude oil was flat at $112.29 a barrel.

Gold was flat at $1,839 an ounce.

The yield on a 10-year bond fell 2% to 2.797%.

 

RESTAURANTS

 

Kura Sushi USA Inc. (Nasdaq: KRUS) slid 6.9% today to $31.50 per share and a $307 million market cap. Shares for the Irvine-based Japanese restaurant chain have been off about 63% from their 52-week high last December.

 

MANUFACTURING

 

American Vanguard Corp. (NYSE: AVD) dropped 5.6% today to $21.52 per share and a $663 million market cap. Cruiser Capital Master Fund LP, a top ten shareholder of American Vanguard, announced that proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co. respectively criticized the Newport Beach-based agriculture chemical maker for “deficient corporate governance” and for “persistently [generating] subpar value for investors” in their recommendation to vote for all of Cruiser’s director candidates at the annual meeting for stockholders next month. For more on American Vanguard and its proxy fight, see the May 23 print edition of the Business Journal.

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