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Wednesday, Mar 29, 2023

Midday Stock Roundup

The S&P 500 was down 0.1% to 2,363.94.

The Dow Jones Industrial Average was up 0.2% to 20,774.91.

The NASDAQ was down 0.1% to 5,863.01.

The yield on a 10-year Treasury bond rose 1% to 2.45%.

The price of gold fell 0.5% to $1,233.


Three OC home builders reported financial results before markets opened today.

Tri Pointe Group Inc. in Irvine was up about 2% to $12.38 and a $2 billion market cap. The builder reported lower net income that nonetheless met analyst expectations. William Lyon Homes in Newport Beach was down about 1% to $18.04 and a $571 million market cap. Quarterly net income declined 9% and annual net income rose 4%. New Home Co. Inc. in Aliso Viejo was up 1.3% to $10.77 and a $223 million market cap. The builder reported increases in both quarterly revenue and income.

OC’s other large publicly-traded home builder, Irvine-based CalAtlantic Group, reported results two weeks ago, topping Wall Street forecasts. Its shares traded recently at a $4 billion market cap.


Glaukos Corp. in Laguna Hills was up 1.3% to $46.21 and a $1.6 billion market cap. BMO Capital initiated coverage on shares in the glaucoma treatment device maker with an “outperform” rating and a $54 price target.

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