The S&P 500 was down 0.3% in midday trading to 2,027.78.

The Dow Jones Industrial Average was down 0.1% to 17,191.42.

The Nasdaq was flat at 4,886.28.

The yield on a 10-year Treasury bond was up 0.4% to 2.03%.

The price of gold was down 0.9% to $1,172.


Aliso Viejo-based Microsemi Corp. was down 6.6% to $34.92 and a $3.3 billion market cap. The chipmaker said it would pay $2.4 billion to trump a rival bid for another chipmaker that would be financed largely with debt.

Aliso Viejo-based Smith Micro Software Inc. was down 4% to 77 cents and a $35 million market cap. The mobile products maker’s shares were downgraded to “hold” by analysts at Needham.


San Clemente-based device maker ICU Medical Inc. was down 3.8% to $107.87 and a $1.7 billion market cap on moderately high volume.


Irvine-based Autobytel Inc. was up 9.1% to $24.25 and a $254 million market cap on high volume. Shares in the automobile sales leads provider had traded at more than double its average by midday.