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The S&P 500 was flat in midday trading to 2,399.19.
The Dow Jones Industrial Average was down 0.2% to 20,979.03.
The NASDAQ rose 0.2% to 6,116.75.
The yield on a 10-year Treasury bond rose 1.5% to 2.41%.
The price of gold fell 0.9% to $1,216.
Newport Beach-based William Lyon Homes rose 9.7% to $24.10 and a $770 million market cap. The builder said net new home orders increased 26% in its first quarter orders, including a 48% jump in April.
Sabra Health Care REIT Inc. declined 5.8% to $23.84 for a $1.6 billion market cap. The Irvine-based health facility owner reported first quarter profit below analyst estimates. Sabra said yesterday it would merge with Care Capital Properties Inc. in Chicago.