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Monday, Aug 15, 2022
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Midday Stock Roundup

The S&P; 500 rose 0.6% to 4,694.54 in midday trading.

The Dow Jones Industrial Average increased 0.3% to 35,867.54.

The Nasdaq was up 0.4% to 15,586.

The yield on a 10-year Treasury bond ticked down 1% to 1.472%.

The price of gold rose 0.4% to $1,784 an ounce.

The price for a barrel of oil increased 0.6% to $71.39.

TECHNOLOGY

Indie Semiconductor Inc. (Nasdaq: INDI) dropped 20% to $12.02 and a $1.6 billion market cap. Volume of 6.2 million shares at the Aliso Viejo-based chipmaker was about five times the daily average. The shares are still up about 20% since it went public last June.

NURSING HOMES

San Clemente’s  CareTrust REIT Inc. (Nasdaq: CTRE) declined 5.2% to $21.29 and a $2.1 billion market cap. The provider of elderly care homes today announced the appointment of David Sedgwick as chief executive, effective Jan. 1. Sedgewick, who was chief operating officer, will succeed founding Chairman and CEO Greg Stapley, who next year along with his wife Deborah will commence a three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints. CareTrust is exploring strategic options, including a possible sale, Bloomberg reported Dec. 6, citing unidentified people familiar with the matter.

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