The S&P 500 climbed 0.3% in midday trading to 2,667.93.

The Dow Jones Industrial Average rose 0.7% to 24,544.55.

The Nasdaq fell 0.1% to 6,871.22.

The yield on a 10-year Treasury bond climbed 1.4% to 2.42%.

The price of gold dropped 0.5% to $1,241.


Tustin-based Peregrine Pharmaceuticals Inc. (Nasdaq: PPHM) declined 19% to $4.32 and a $195 million market cap. The company yesterday said it intends to raise additional capital after reporting fiscal second-quarter loss tripled to $12.6 million from $4.1 million in the same period a year earlier. Shares of the company, which is developing drugs to combat cancer, had almost doubled in the past three months.

San Clemente-based Glaukos Corp. (NYSE: GKOS) rose 5.3% to $26.16 and a $904 million market cap. The shares hit a 52-week low Nov. 22 on concerns about lower payments for its stent products to treat various eye diseases.