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The S&P 500 was up 0.1% in midday trading to 2,050.88.
The Dow Jones Industrial Average was up 0.1% to 17,619.59.
The NASDAQ was up 0.1% to 4,802.48.
The yield on a 10-year Treasury bond was up 2.2% to 1.91%.
The price of gold was down 0.8% to $1,244.
Orange County homebuilders declined on a report from the National Association of Realtors that sales of existing homes fell 7% from January to February to an annualized rate of about 5.1 million. Economists were expecting a 3% decline. Higher home prices and a constricted supply in starter and “trade-up” homes—the numbers declined 44% and 40% respectively, over the past four years—contributed to the decline.
Irvine-based CalAtlantic Group Inc. was down 1.6% to $32.48 and a $4 billion market cap. Irvine-based Tri Pointe Group Inc. was down 1.1% to $11.76 and a $1.9 billion market cap. Newport Beach-based William Lyon Homes was down 5.5% to $13.78 and a $437 million market cap. Aliso Viejo-based New Home Co. Inc. was down 1.6% to $11.82 and a $243 million market cap.
Irvine-based CombiMatrix Corp. was down 17.7% to $4.40 and a $3.7 million market cap. The DNA testing firm priced an $8 million offering of convertible preferred stock and warrants. The securities can be converted into 4.1 million shares of common stock—half of them at $3.87 a share and half at $5.17 a share. CombiMatrix has about 851,000 shares outstanding.