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Saturday, Feb 24, 2024
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Midday Stock Roundup

Major U.S. stock indexes jumped Monday amid investor optimism over quarterly corporate earnings results, led by the Nasdaq, which surged 2.9% to 11,916.53.

The S&P 500 increased 1.8% to 3,541.14 and the Dow Jones Industrial Average rose 1.1% to 28,902.38.

The yield on a 10-Year Treasury bond was up 0.3% to 0.777%.

Crude oil fell 3.2% to $39.32 a barrel.

Gold ticked 0.2% higher to $1,929.

REAL ESTATE

Impac Mortgage Holdings Inc. (NYSE: IMH) increased 4.9% to $1.49 and a $32 million market cap. Shares for the Irvine-based mortgage originator, which had to temporarily suspend lending operations in March as a result of the pandemic, are still down 71% since the start of the year.

HEALTHCARE

Orange County healthcare firms were generally mixed in midday trading, with Irvine-based Urovant Science Ltd. (Nasdaq: UROV) seeing the steepest decline in share price. Shares for the company, a developer of medications for urologic conditions, dipped 5.2% to $8.89 and a $277 million market cap, with shares trading at about half their average daily volume.

Newport Beach-based Evolus Inc. (Nasdaq: EOLS) led gains for local healthcare companies, rising 3.3% to $4.69 and a $157 million market cap. Shares for the Botox competitor are up about 53% in the past three months.

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