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Tuesday, Apr 23, 2024
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Midday Stock Roundup

The S&P 500 rose 0.3% to 2,003.59 in midday trading Friday.

The Dow Jones Industrial Average rose 0.27% to 17,115.55, and the Nasdaq rose 0.2% to 4,570.97.

The yield on a 10-year Treasury bond fell 0.45% to 2.44%.

The price of gold was flat at $1,266.50.

TECHNOLOGY

Irvine-based chip maker Broadcom Corp. was up 1.4% to $40.68 and a market cap of $24 billion. A Bank of America analyst reiterated a “buy” rating and raised the company’s price target from $45 to $50. BofA said the company trades at a 20% discount on fears of competition in Wi-Fi connectivity but that most of Broadcom’s sales and profits come from networking and broadband.

HEALTHCARE

Newport Beach-based Alliance HealthCare Services Inc. was up 5% to $29.69 and a market cap of $306.2 million on a Reuters report that the diagnostic imaging and oncology services provider may be for sale and had hired New York City investment banker Moelis & Co. to find a buyer. An affiliate of Los Angeles private equity firm Oaktree Capital Group LLC owns 44% of the company, according to the report.

APPAREL

Huntington Beach-based Quiksilver Inc. was down 27% to $2.06 and a market cap of $350 million on lower earnings reported after markets closed yesterday.

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