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The S&P 500 was down 0.1% in midday trading to 2,680.30.

The Dow Jones Industrial Average fell 0.1% to 24,720.53.

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The Nasdaq dropped 0.3% to 6,937.56.

The yield on a 10-year Treasury bond declined 0.7% to 2.47%.

The price of gold climbed 0.7% to $1,288.


Lantronix Inc. (Nasdaq: LTRX), jumped 7.2% to $2.09 and a $38 million market cap. Volume of 229,000 was almost four times the daily average of the past three months. Shares of the Irvine company, which makes secure connectivity products for the Internet of Things market, are still down almost 50% from their 52-week high in March.


Tustin’s Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) rose 5.3% to $4.18 and a $189 million market cap. The drug manufacturer, which has been in a proxy battle, named Roger J. Lias as chief executive and president to succeed Steven W. King. The company is in the process of officially changing its name to Avid Bioservices, its contract unit, and adopting a new NASDAQ ticker symbol.