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Saturday, Jan 28, 2023
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Midday Stock Roundup

The S&P 500 rose 0.2% to 4,444.72 in midday trading.
The Dow Jones Industrial Average climbed 0.6% to 35,462.56 while the Nasdaq declined 0.3% to 14,749.91.
Crude oil was up 1.2% to $69.12.
Gold increased 1.3% to $1,753.
The yield on a 10-year Treasury fell 1.49% to 1.32%.


MEDICAL
Inari Medical Inc. (Nasdaq: NARI), a blood clot removal device maker, dropped 18% to $72.82 and a $3.6 billion market cap. Chief Executive Bill Hoffman yesterday told investors on a conference call that the declining prevalence of COVID-19, which can cause blood blots in the veins, was the primary reason behind lagging procedure numbers during the recently completed second quarter.

Oncocyte Corp. (Nasdaq: OCX) fell 20% to $4.02 and a $366 million market cap. The Irvine-based maker of cancer tests yesterday reported second quarter results that included an adjusted operating loss of $10.3 million, wider than the $6.9 million loss in the same period a year ago. Shares of the maker of lung cancer tests are still up almost four-fold since a 52-week low of $1.15 last September.

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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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