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Monday, Aug 15, 2022
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Midday Stock Roundup

Stocks fell after the Consumer Price Index jumped 4.2% in April from the same period a year earlier, the highest 12-month level since 2008.

The S&P 500 fell 1.7% in midday trading to 4,083.20 while the Dow Jones Industrial Average declined 1.3% to 33,827.45 and the Nasdaq dropped 2.1% to 13,103.45.

The yield on a 10-year Treasury bond was up 3.7% to 1.684%. Gold ticked 0.7% lower to $1,823.

The price for a barrel of oil jumped 1.1% to $66.

DRUGMAKERS

Tarsus Pharmaceuticals Inc. (Nasdaq: TARS) rose 9.7% to $30.11 and a $623 million market cap. The Irvine-based company, a maker of ophthalmic drugs, yesterday reported first-quarter net income climbed to $10.4 million compared to a $2 million loss in the same period a year ago.

MEDIA

Vizio Holding Corp. (NYSE: VZIO) dropped 12% to $24.10 and a $4.4 billion market cap. The Irvine-based TV and media company yesterday reported first-quarter results that showed its Smart TV shipments were 1.5 million, below a Factset estimate of 1.65 million, according to CNBC. Vizio went public on March 25 by issuing shares at $21 each.

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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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