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Saturday, Jul 2, 2022
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Midday Stock Roundup

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The S&P 500 climbed 0.7% to 2,938.83 in midday trading.

The Dow Jones Industrial Average increased 0.5% to 26,478.39.

The Nasdaq was up 0.5% to 7,943.95.

The yield on the 10-year Treasury bond jumped 4.5% to 1.66%.

The price of gold dropped 0.8% to $1,502.

The price of oil rose 1.6% to $53.42 a barrel.

TECHNOLOGY

Chipmaker Skyworks Solutions Inc. of Irvine (Nasdaq: SWKS) climbed 4.2% to $84.09 and a $14.4 billion market cap. Cowen & Co. today upgraded Skyworks shares to “outperform.” President Trump also today tweeted he is meeting tomorrow with a Chinese official to discuss a possible trade deal. Chinese companies accounted for about 12% of Skyworks revenue in the first six months of FY 2019.

HEALTHCARE

Irvine-based ChromaDex Corp. (Nasdaq: CDXC) fell 14% to $3 and a $174 million market cap. Volume of 559,000 shares was almost three times the daily average of the past three months. Shares of the maker of nutritional ingredients and products are down about 30% since Sept. 16.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.

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