Share this article:
The S&P 500 was up 0.6% in midday trading to 2,589.65.
The Dow Jones Industrial Average was also 0.6% higher, to 23,931.05.
The Nasdaq was up 1.1% to 6,972.52.
The yield on a 10-year Treasury bond ticked up 0.3% to 2.72%.
The price of gold rose 0.5% to $1,292.
The price of oil climbed 5% to $52.24.
Skyworks Solutions Inc. (Nasdaq: SWKS) shares recovered ground from an 11% drop over several trading sessions, rising 4.1% today to $67.89 and a $12 billion market cap. The Irvine-based chipmaker supplies Apple Inc., which last week cut its revenue guidance, driving Skyworks shares lower. Skyworks today cut its own revenue guidance by about 3%, to $970 million, and earnings per share by about 5% to between $1.81 and $1.84. Shares have returned to last week’s levels.
Masimo Corp. (Nasdaq: MASI) in Irvine was up 6.7% to $113.05 and a $6 billion market cap. The device maker today issued a preliminary report for 2018 total revenue between $855 million and $858 million compared with an October forecast of $854 million. It also forecast 2019 revenue of $910 million, which indicates about a 6.3% increase from 2018. It reports results Tuesday, Feb. 26.