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Midday Stock Roundup: MDxHealth Posts $40M Public Offering

Iteris up on Q3

Feb. 3

The S&P 500 slipped 0.2% to 4,171.73.

The Dow 30 was up 0.2% at 34,112.61.

The Nasdaq decreased 0.4% to 12,152.60.

Crude oil dropped 2.4% to $74.04 a barrel.

Gold fell 2.8% to $1,877 an ounce.

The yield on a 10-year treasury bond climbed 3.5% to 3.515%.

HEALTHCARE

MDxHealth SA (Nasdaq: MDXH) fell 40% to $3.79 a share and a $63 million market cap. The Irvine diagnostics firm announced today a public offering of 10 million American Depositary Shares, each worth 10 ordinary shares of the company, at $4.00 a share for a total gross proceeds of $40 million.

TECHNOLOGY

Iteris Inc. (Nasdaq: ITI) jumped 14% to $4.54 a share and a $194 million market cap. The transportation-focused technology company, which has commercial and product operations in Santa Ana and recently moved its headquarters to Austin, Tx., posted third-quarter revenues that surpassed the Zacks Consensus Estimate.

–Kaitlin Aquino


Feb. 2

An upbeat report yesterday from Meta Platforms, parent of Facebook, sent the Nasdaq 3.3% higher to 12,201.69. Nasdaq is now on pace to its best start since 1975, according to the Wall Street Journal.

The S&P 500 was up 1.5% to 4,179.06 while the Dow 30 fell 0.3% to 33,986.33 and the Nasdaq jumped 3.3% to 12,201.69.

Crude oil increased 0.4% to $76.73 a barrel.

Gold fell 0.85 to $1,928 an ounce.

The yield on a 10-year bond fell 0.35% to 3.385%.

MEDICAL DEVICES

Staar Surgical Co. (Nasdaq: STAA) increased 10% to $80.57 and a $3.9 billion market cap. Shares of the Lake Forest-based maker of implantable lenses are up 72% since the beginning of this year. The company on Jan. 9 issued preliminary fourth-quarter results and forecast 2023 revenue, both of which topped expectations.

AEROSPACE

Virgin Galactic Holdings Inc. (NYSE: SPCE) jumped 13% to $6.37 and a $1.7 billion market cap. Volume of 14.5 million at the Tustin-based provider of flights into outer space was twice the daily average. Shares have almost doubled year to date.

                                                                                                   –Peter J. Brennan


Feb. 1

The S&P 500 was off 0.5% to 4,057.67 in midday trading.

The Dow 30 dropped 0.9% to 33,766.89 and the Nasdaq declined 0.2% to 11,561.44.

Crude oil plummeted 3.3% to $76.25 a barrel.

Gold dipped 0.2% to $1,941 an ounce.

The yield on the 10-year bond was down 1.8% to 3.464%.

AUTOMOTIVE

EV maker Rivian Automotive Inc. (Nasdaq: RIVN) in Irvine was down 2.8% to $18.85 per share for a market cap of $16.6 billion. The company today internally announced another round of layoffs in which it will trim 6% of its staff, its second notable workforce cut in the past year.

MEDICAL DEVICES

Edwards Lifesciences Corp. (NYSE: EW) rose 2.1% to $78.34 and a $48.5 billion market cap. The company delivered fourth-quarter 2022 adjusted earnings per share of 64 cents, beating the Zacks Consensus Estimate by 4.9% and up nearly 26% year-over-year.

–Katie Murar

—–

Jan. 31

The S&P 500 rose 0.8% to 4,050.12 in midday trading.

The Dow 30 increased 0.5% to 33,872.42.

The Nasdaq jumped 1.1% to 11,514.38.

The yield on a 10-year Treasury bond dropped 0.5% to 3.533%.

The price of gold climbed 0.3% to $1,944.80.

The price for a barrel of oil increased 1.2% to $78.81.

AUTOMOTIVE

EV maker Rivian Automotive Inc. (Nasdaq: RIVN) in Irvine jumped 6.8% to $19.27 per share for a market cap of $17 billion. Other electric vehicle makers were also up, including Tesla Inc. which rose 3.7% to $172.90 per share while Ford Motor Co., which is also developing EVs, rose 3.8% to $13.38 per share.

FITNESS

Xponential Fitness Inc. (NYSE: XPOF) in Irvine rose 4.6% to $27.80 per share and a market cap of $1.4 billion. Investor website MarketBeat.com said earlier today thatXponential Fitness presently has a consensus rating of ‘Buy’ and a consensus price target of $30.63.”

                                                                                           –Kevin Costelloe

 

Jan. 30

The S&P decreased 0.8% to 4,037.27, the Dow 30 was down 0.3% to 33,882.94, and the Nasdaq also fell 1.6% to 11,435.46 during midday trading.

Crude oil fell 1.5% to $78.49 per barrel.

Gold was down 0.3% to $1,939 per ounce.

The yield on a 10-year bond was up 1.11% to 3.557%.

HEALTHCARE 

Evolus Inc. (Nasdaq: EOLS) fell 4% to $9.84 per share with a market cap of $553 million. The Newport Beach-based medical aesthetics firm on Saturday presented phase II data results of testing the “extra-strength” formula of its flagship neurotoxin product, Jeuveau. Aiming for an extended duration of the treatment, the effects lasted 26 weeks or a prolonged six months.

For more on Evolus, see the Jan. 30 print edition of the Business Journal.

TECH 

Rivian Automotive Inc. (Nasdaq: RIVN) was down 7.1% to $18.42 with a $16 billion market cap. Shares of the Irvine-based electric vehicle maker are off 72% compared to a year ago.  

Emily Santiago-Molina

Jan. 27

The S&P rose 0.4% to 4,075.16, while the Dow 30 was up 0.3% at 34,047.85 and the Nasdaq jumped 1% to 11,621.97.

Crude oil fell 1.9% to $79.49 a barrel.

Gold was flat at $1,929 an ounce.

The yield on a 10-year treasury bond increased 1.1% to 3.531%.

Crude oil fell 1.9% to $79.49 a barrel.

Gold was flat at $1,929 an ounce.

The yield on a 10-year treasury bond increased 1.1% to 3.531%.

HEALTHCARE

RxSight Inc. (Nasdaq: RXST) climbed 8.9% to $14.36 a share and a $398 million market cap. Shares in the Aliso Viejo eye-focused medical device company are up 48% from their 52-week low last January.

FINANCE

LoanDepot Inc. (NYSE: LDI) rose 7.7% to $2.52 per share and a $833 million market cap. Shares in the Irvine nonbank mortgage originator, the second-largest in the country, are up 71% since Dec. 20  as investors are hopeful that the Federal Reserve won’t raise benchmark interest rates as much as feared.

–Kaitlin Aquino

Jan. 26

The S&P 500 was up 0.5% to 4,034.10 while the Dow 30 climbed 0.3% to 33,826.74 and the Nasdaq increased 1% to 11,427.57.

Crude oil increased 1.3% to $81.22 a barrel.

Gold fell 0.7% to $1,929 an ounce.

The yield on a 10-year bond climbed 0.2% to 3.469%.

RETAIL

Boot Barn Holdings Inc. (NYSE: BOOT) jumped 13% to $83.76 and a $2.5 billion market cap. The Irvine-based retailer of boots and related apparel yesterday forecast fourth-quarter sales that topped analysts’ expectations.

MARKETING

Advantage Solutions Inc. (Nasdaq: ADV) was up 5.4% to $2.55 and an $816 million market cap. Shares are up 16% since Jan. 18 when the Irvine-based provider of outsourced marketing services named Dave Peacock as its new chief executive, effective Feb. 1.

                                                                                                –Peter J. Brennan

Jan. 25

The S&P 500 was down 0.5% to 3,998.39 in Wednesday midday trading.

The Dow Jones Industrial Average decreased 0.3% to 33,650.41 while the Nasdaq fell 0.8% to 11,248.83.

The yield on a 10-year Treasury bond increased 0.3% to 1.0912%.

Crude oil was off 0.2% to $80 a barrel.

Gold rose 0.3% to $1,940.

DRUG MANUFACTURING 

Avid Bioservices Inc. (Nasdaq: CDMO) was down 5.2% to $16.11 per share and a $1 billion market cap. Shares in the Tustin-based contract drug manufacturer, currently trading at less than one-sixth of their average daily volume, are still up more than 17% since the start of the year.

HEALTHCARE

Tarsus Pharmaceuticals Inc. (Nasdaq: TARS) rose 4.2% to $16.15 and a $429 million market cap. Shares of the Irvine-based maker of ophthalmic drugs are up nearly 14% in the past week.

–Katie Murar

Jan. 24

The S&P 500 was down 0.1% at 4,014.01 in midday trading.

The Dow 30 was flat at 33,645.03.

The Nasdaq was down 0.2% to 11,338.46.

The yield on a 10-year Treasury bond fell 1.3% to 3.48%.

The price of gold rose 0.3% to $1,934.80.

The price for a barrel of oil tumbled 1.2% to $80.62.

RESTAURANTS

BJ’s Restaurants Inc. (Nadaq: BJRI) in Huntington Beach fell 4.7% to $30.69 per share for a market cap of $718 million. Shares in the company are virtually unchanged from a year ago.

AEROSPACE

Space tourism company Virgin Galactic Holdings Inc. (NYSE: SPCE) rose 3% to $5.47 per share for a market cap of $1.5 billion. InvestorsObserver.com said earlier today that “analysts who follow Virgin Galactic Holdings Inc. on average expect it to gain 0.06% over the next twelve months. Those same analysts give the stock an average rating of Hold.”

                                                                                           –Kevin Costelloe

Jan. 23

Major stock indexes rose as investors headed into a week filled with quarterly earnings releases.

The S&P increased 1.5% to 4,030.69, the Dow 30 was up 1% to 33,699.89, and the Nasdaq also rose 2.3% to 11,391.09 during midday trading.

Crude oil rose 0.7% to $82.22 per barrel.

Gold was flat at $1,928 per ounce.

The yield on a 10-year bond was up 1.26% to 3.528%.

REAL ESTATE 

Five Point Holdings LLC (NYSE: FPH) rose 9% to $3 per share with a market cap of $444 million. Shares of the Irvine-based real estate developer has increased 20% since announcing fourth-quarter results last Thursday where Five Point reported consolidated revenues of $17 million.

TECHNOLOGY 

Skyworks Solutions Inc. (Nasdaq: SWKS) jumped 6.5% to $109.79 with a $18 billion market cap. The Irvine-based semiconductor’s shares have grown 21% since the beginning of January.

Emily Santiago-Molina

Jan. 20

The S&P 500 rose 0.9% to 3,932.66 in midday trading.

The Dow 30 was up 0.3% at 33,135.82.

The Nasdaq jumped 1.5% to 11,016.15.

Crude oil increased 1.4% to $81.45 a barrel.

Gold gained 0.2% to $1,927 an ounce.

The yield on a 10-year treasury bond climbed 2.8% to 3.492%.

REAL ESTATE

Five Point Holdings LLC (NYSE: FPH) climbed 13% to $2.72 and a $406 million market cap. The Irvine-based real estate developer yesterday reported fourth-quarter results that included a new commercial land sale strategy that began with selling about 42 acres of Irvine’s Great Park Neighborhoods for $240 million.

RESTAURANTS

Kura Sushi USA Inc. (Nasdaq: KRUS) jumped 6.3% to $56.54 and a $552 million market cap. Shares in the Irvine-based sushi chain are off 41% from their 52-week high last August.

–Kaitlin Aquino


 

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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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