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Saturday, Aug 13, 2022
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Midday Stock Roundup

The S&P 500 increased 0.2% to 4,376.06 in midday trading.
Both the Dow Jones Industrial Average and Nasdaq were flat at 34,876.80 and 14,680.53, respectively.
Crude oil fell 2.8% to $73.15.
Gold was up 0.8% to $1,823.40 an ounce.
The yield on a 10-year bond fell 3.46% to 1.366%.

MEDICAL DEVICES
San Clemente’s Glaukos Corp. (NYSE: GKOS) dropped 21% to $58 and a $2.7 billion market cap. The Centers for Medicare and Medicaid Services (CMS) released its proposed physician fee schedule for fiscal year 2022 that Glaukos CEO Thomas Burns said was "unwelcomed and unexpected news that we believe is unjustified.” William Blair downgraded the maker of glaucoma therapies to market perform.

RESTAURANTS
Irvine’s Kura Sushi USA Inc. (Nasdaq: KRUS) climbed 11% to $42.81 and a $361 million market cap. Kura, which currently counts 32 restaurants, yesterday reported fiscal third quarter sales of $18.5 million, topping the average analyst estimate of $15.5 million.

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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