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Saturday, Jul 2, 2022

Midday Stock Roundup

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Major stock indexes rose in Wednesday midday trading, somewhat recovering from Tuesday’s losses as inflation concerns and global uncertainty prompted stock market volatility.

The S&P; 500 was up 1% to 4,215.73, while the Dow 30 and Nasdaq rose 0.9% apiece to 33,541.85 and 12,597.55, respectively.

The yield on a 10-year Treasury bond increased 0.8% to 2.793%.

The price of gold fell 0.9% to $1,888.

The price for a barrel of oil dipped 0.6% to $101.08.

MEDICAL DEVICES Edwards Lifesciences Corp. (NYSE: EW) dropped 4.3% to $111.29 and a $69 billion market cap. Shares for the Irvine medical device maker were down about 5% in Tuesday after hours trading after the company reported first quarter results, and forecasted Q2 sales of $1.36 billion to $1.44 billion, below the average analyst estimate of $1.46 billion. Shares have fallen about 15% in the past week. 

San Clemente-based Glaukos Corp. (NYSE: GKOS) fell 5.4% to $50.09 and a $2.4 billion market cap. The maker of medical devices and medications to treat glaucoma today said it will report earnings on May 4, when analysts expect the company to report earnings of $0.52 per share. Glaukos said its technologies are being featured in various scientific programming this week at the American Society of Cataract and Refractive Surgery annual meeting,  which is among the largest gatherings of executives in the ophthalmic industry.

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