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Monday, Dec 5, 2022
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Midday Stock Roundup

The S&P; 500 fell 0.3% to 4,666.49 in midday trading.The Dow Jones Industrial Average lost 0.4% to 36,186.87.The Nasdaq fell 1% to 15,720.64.The yield on a 10-year Treasury bond jumped 6.7% to 1.541%.The price of gold was up 1.2% to $1,851.80 an ounce.The price for a barrel of oil was down 2.9% to $81.69. MEDIA

Vizio Holding Corp. (NYSE: VZIO) jumped 15% to $20 and a $3.7 billion market cap. The Irvine-based provider of smart TVs reported better than expected third-quarter results yesterday as revenue from its platform business, which competes with Roku’s, soared 134% to $85.9 million. ELECTRIC VEHICLES

Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) climbed more than 40% to $111.95 and a $110 billion market cap in its public market debut. The company late Tuesday priced its shares at $78, up from the $72 to $74 range it estimated last week. Rivian’s shares reached as high as $119.45 on its first day of trading.

MEDICAL DEVICES

Inari Medical Inc. (Nasdaq: NARI) climbed 6.6% to $92.63 and a $4.6 billion market cap. The Irvine-based maker of blood clot removal devices reported third-quarter revenue and profit that topped analyst average estimates.

 

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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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