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Wednesday, Jun 7, 2023
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Midday Stock Roundup: Terran Orbital Soars on Successful Test

Alteryx falling on day of analyst presentation

June 7

S&P 500 fell 0.3% to 4,271.46 in midday trading while the Dow 30 was up 0.1% to 33,613.40 and the Nasdaq was down 1% to 13,150.03.

Crude oil rose 1.3% to $72.64 a barrel.

Gold was off 1.2% to $1,958 an ounce.

The yield on a 10-year bond climbed 2.4% to 3.788%.

Satellites

Terran Orbital Corp. (NYSE: LLAP) soared 8.3% to $1.38 and a $222 million market cap. The maker of satellites, which has significant operations in Irvine, today reported a successful completion of a mission to navigate to the Near Rectilinear Halo Orbit (NRHO) and an initial successful test of the Cislunar Autonomous Positioning System (CAPS) in coordination with the NASA Lunar Reconnaissance Orbiter (LRO).

Software

Alteryx Inc. (AYX) fell 5.8% to $38.00 and a $2.7 billion market cap. Executives at the Irvine-based maker of data analytics software are scheduled to present today at the BofA Securities Global Technology Conference.

                                                                                                  –Peter J. Brennan


June 6

The S&P 500 was flat at 4,275.10.

The Dow 30 decreased 0.2% to 33,510.44.

The Nasdaq rose 0.1% to 13,243,95.

The yield on a 10-year Treasury bond rose 0.2% to 3.70%.

The price of gold increased 0.2% to $1,978.20.

The price for a barrel of oil tumbled 0.5% to $71.80..

FINANCE

Pacific Premier Bancorp. Inc. (Nasdaq: PPBI) in Irvine rose 6.2% to $21.33 apiece for a market cap of $2 billion. The banking corporation said yesterday that Kroll Bond Rating Agency recently affirmed PPBI’s senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2.

ENERGY

Newport Beach-based Clean Energy Fuels Corp. (Nasdaq: CLNE) rose 6.5% to $4.41 apiece for a market cap of $982 million. Earlier today, Piper Sandler said it increased the company’s price target from $6 to $7 and maintained an overweight rating on the stock.

                                                                                        –Kevin Costelloe

 

June 5

The S&P 500 rose 0.3% to 4,293.42, the Dow 30 was down 0.3% to 33,674.15, and the Nasdaq increased 0.4% to 13,287.55 during midday trading. 

Crude oil increased 1.6% to $72.90 per barrel.

Gold was up 0.2% to $1,974 per ounce.

The yield on a 10-year bond was up 0.24% to 3.70%.

AUTOMOTIVE 

Mullen Automotive Inc. (Nasdaq: MULN), headquartered in Brea, dropped 8.3% to 68 cents with an $118 market cap. Shares of the electric vehicle maker are falling this morning after the website Investor Place, citing an SEC filing, said Acuitas Capital provided Mullen with $20 million in capital.

MARKETING 

Irvine-based Advantage Solutions Inc. (Nasdaq: ADV) jumped 9.1% to $2.16 with a market cap of $697 million. Shares of the marketing and advertising firm have almost doubled since a 52-week low at the end of April.

–Emily Santiago-Molina


June 2

Indexes were up across the board during midday trading after results from the U.S. job report for May exceeded expectations.

The S&P 500 rose 1.5% to 4,283.69, the Dow 30 was up 2% to 33,730.05, and the Nasdaq increased 1.1% to 13,239.36.

Crude oil increased 2% to $71.51 per barrel.

Gold was down 1.3% to $1,969 per ounce.

The yield on a 10-year bond was up 2.08% to 3.683%.

RETAIL 

Irvine-based Tilly’s Inc. (NYSE: TLYS) dropped 12% to $6.52 with a market cap of $195 million. Shares of the youth-focused apparel firm were off after reporting first quarter sales of $123.6 million, down 15% compared to last year, and a net loss of 40 cents per share.

“While we believe our product assortments are trend right, the impact of inflation and potential recessionary concerns remain a risk to our business over the near term,” Chief Executive Ed Thomas said in a statement.

HEALTHCARE 

Glaukos Corp. (NYSE: GKOS) rose 5.4% to $61.98 apiece and a $3 billion market cap. Shares of the Aliso Viejo-based medical device maker and drugmaker have shot up 41% since January.

–Emily Santiago-Molina


June 1

The S&P 500 rose 0.9% to 4,218.19 in midday trading while the Dow 30 was up 0.5% to 33,082.41 and the Nasdaq jumped 1.2% to 13,091.67.

Crude oil increased 3.7% to $70.62 a barrel.

Gold climbed 0.7% to $1,995 an ounce.

The yield on a 10-year bond fell 0.63% to 3.614%.

SOFTWARE:

Alteryx Inc. (NYSE: AYX) jumped 12% to $43.47 and a $3.1 billion market cap. The Irvine-based maker of analytical software yesterday made a presentation at the TD Cowen Technology, Media and Telecom Conference.

SPACE

Terran Orbital Corp. (NYSE: LLAP) increased 11% to $1.30 and a $187 million market cap. Shares of the satellite maker, which has major operations in Irvine, have risen 15% since a 52-week low of $1.11 on May 30.

                                                                                            –Peter J. Brennan


May 31

The S&P 500 was down 0.8% to 4,172.53 in midday trading.

The Dow 30 and the Nasdaq were off 0.7% to 32,816.52 and 12,924.35, respectively.

The yield on a 10-year Treasury bond dropped 1% to 3.662%.

The price of gold rose 0.3% to $1,982.50.

The price for a barrel of oil fell 1% to $68.80.

TECHNOLOGY

Shares in computer networking products maker Lantronix Inc. (Nasdaq: LTRX) dropped Wednesday following the company’s Tuesday announcement that president and CEO Paul Pickle will resign to pursue another opportunity as the chief executive officer of Semtech Corp. (Nasdaq: SMTC). The company was down 17% to $4.35 and a $159.3 million market cap.

BIOPHARMA

Eledon Pharmaceuticals Inc. (Nasdaq: ELDN) jumped 23% to $2.15 and a $48.4 million market cap. Shares of the company, which is moving forward with research plans to develop Tegoprubart in kidney transplantation to treat ALS, are about 45% lower since their 52-week high in August. Trading volume was four times the daily average.

–Katie Murar


 

May 30

The S&P 500 was flat at 4,208.99 in midday trading.

The Dow 30 decreased 0.3% to 32,980.45.

The Nasdaq rose 0.4% to 12,029.57.

The yield on a 10-year Treasury bond dropped 2.9% to 3.70%.

The price of gold rose 0.9% to $1,980.80.

The price for a barrel of oil dropped 4.2% to $69.59.

TECHNOLOGY

Irvine-based data analytics software maker Alteryx Inc. (NYSE: AYX) jumped 4.2% to $37.35 apiece for a market cap of $2.6 billion. The increase came after Oppenheimer said earlier today it had added Alteryx to its top picks list.

AUTOMOBILES

Electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) fell 2.5% to $14.77 apiece for a market cap of $13.9 billion. Investor website The Motley Fool.com said over the weekend that Rivian is headed down an unsustainable path and needs to find a way forward before running out of cash.”

Trading resumed today after the Memorial Day holiday on Monday.

                                                                                   —Kevin Costelloe

May 26

Indexes rose today on hopes a debt ceiling deal is in sight, according to national reports.

The S&P 500 jumped 1.2% to 4,202.65.

The Dow 30 gained 0.9% to 33,059.05.

The Nasdaq climbed 2.1% 12,964.55.

Crude oil was up 1% at $72.58.

Gold was flat at $1,943.90.

The yield on a 10-year treasury bond increased 0.3% to 3.826%

RETAIL

Irvine-based Xponential Fitness Inc. (NYSE: XPOF) climbed 7% to $26.52 a share and a $1.3 billion market cap. Shares in the boutique fitness franchiser are up 137% from their 52-week low last June.

TECHNOLOGY

MaxLinear Inc. (Nasdaq: MXL) jumped 5.3% to $29.98 a share and a $2.4 billion market cap. The semiconductor chip maker, which has a key operations unit in Irvine, yesterday partnered with JPC Connectivity to produce electrical cables.

AEROSPACE

Virgin Galactic Holdings Inc. (NYSE: SPCE) in Tustin fell 17% to $3.38 a share and a $957 million market cap. Shares in the space tourism company are down despite the company’s successful completion of its Unity 25 mission yesterday.

–Kaitlin Aquino


May 25

The S&P 500 was up 0.6% at 4,141.32 in midday trading.

The Dow 30 decreased 0.5% to 32,653.38.

The Nasdaq rose 1.6% to 12,687.17.

The yield on a 10-year Treasury bond increased 2.1% to 3,798%

The price of gold fell 1% to $1,944.10.

The price for a barrel of oil tumbled 3.6% to $71.68.

AEROSPACE

Virgin Galactic Holdings Inc. (NYSE: SPCE) in Tustin fell 4.8% to $4.20 per share for a market cap of $1.2 billion. The space tourism company, which plans to start commercial service by the end of next month, could be out of cash in “under two years” due to its cash burn, investor website The MotleyFool.com said earlier today.

 

TECHNOLOGY

Data analytics software maker Alteryx Inc. (NYSE: AYX) in Irvine fell 5.2% to $37.74 per share for a market cap of $2.7 billion. The shares have lost about 30% of their value over the last year.

                                                                                                           –Kevin Costelloe


May 24

Major U.S. stock indexes fell in Wednesday midday trading amid investor concern over a potential national debt default, and ahead of minutes from the Federal Reserve’s last policy meeting.

The S&P 500 was down 0.9% at 4,107.84.

The Dow 30 decreased 0.8% to 32,783.73.

The Nasdaq dropped 1.1% to 12,426.21.

The yield on a 10-year Treasury bond gained 0.5% to 3.717%.

The price of gold fell 0.6% to $1,962.60.

The price for a barrel of oil jumped 1.8% to $74.25.

AEROSPACE 

Tustin-based Virgin Galactic Holdings Inc. (NYSE: SPCE) fell 10% to $4.41 with a market cap of $1.4 billion, losing much of the gains it made early this week as the company began astronaut training for its upcoming Unity 25 mission. Yesterday, a separate space company spun off from Virgin Galactic in 2017 sold in a piecemeal sale to investors following its bankruptcy in April. Richard Branson owned about 75% of Virgin Orbit, the assets of which have sold in separate deals totaling roughly $36 million.

TECHNOLOGY

Irvine-based Alteryx Inc. (NYSE: AYX) rose 2.1% to $39.41 and a $2.7 billion market cap after the company expanded its cloud platform with new location Intelligence capabilities to “bring spatial analytics to the masses.”

–Katie Murar


 

 


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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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