Share this article:
The S&P 500 rose 0.5% in midday trading to 3,282.10.
The Dow Jones Industrial Average increased 0.2% to 28,892.03.
The Nasdaq climbed 0.8% to 9,251.67
The yield on a 10-year Treasury bond increased 0.9% higher to 1.84%.
The price of gold ticked down 0.6% to $1,551.
The price for a barrel of oil dropped 1% to $58.43.
Chipmaker Skyworks Solutions Inc. of Irvine (Nasdaq: SWKS) climbed 3.9% to $124.78 and a $21 billion market cap. Mizuho Bank upgraded Skyworks shares from neutral to buy with a raised price target from $90 to $132 due to optimism over 5G technology, according to a Friday report.
Lake Forest-based STAAR Surgical Company (Nasdaq: STAA) rose 4.6% to $38.25 and a $2 billion market cap. The device maker, which makes implantable foldable lenses for the eye, today reported preliminary fourth quarter sales rose 25% to $38.9 million, topping the $38.1 million average estimate of six analysts.
Tilly’s Inc. (NYSE: TLYS) fell 17% to $9.74 and a $281 million market cap after the company reported disappointing holiday sales for the nine-week period ended January 4, 2020. “Our business experienced an unexpected deceleration in net sales and store traffic during the second and third weeks of December, resulting in a disappointing 2019 holiday season overall,” CEO Ed Thomas said in a statement.