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Sunday, Apr 12, 2026

Midday Report: loanDepot, Eledon Decline

Indexes were up in midday trading before an expected announcement from the Federal Reserve about raising its benchmark interest rate.

The S&P 500 rose 0.9% to 3,770.69 while the Dow 30 climbed 0.5% to 30,592.92 and the Nasdaq was up 1.7% to 11,012.26.

Crude oil fell 25 to $116.59 a barrel.

Gold increased 0.3% to $1,820 an ounce.

The yield on a 10-year bond fell 2.1% to 3.41%.

MORTGAGES

Foothill Ranch-based loanDepot Inc. (NSYE: LDI) fell 6.8% to $1.87 and a $635 million market cap. Shares of the mortgage provider have dropped 86% in the past year as increasing interest rates have dampened demand.

BIOPHARMA

Eledon Pharmaceuticals Inc. (Nasdaq: ELDN) dropped 10% to $2.81 and a $39 million market cap. Shares of the researcher for an ALS cure are about 67% lower since their 52-week high in November. The  Business Journal will have an article in its June 20 print edition about the company.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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