The S&P 500 fell 0.1% to 1,933.31 in midday trading.
The Dow Jones Industrial Average was flat at 16,803.78 and the Nasdaq was unchanged at 4,422.29.
The yield on a 10-year Treasury bond rose 0.37% to 2.41 %.
The price of gold was flat at $1,218.40.
HEALTHCARE
Irvine-based Allergan Inc. was down 2.3% to $175.58 and a market cap of $52.2 billion. A proxy advisory firm said the drug maker shouldn’t make any acquisition without a shareholder vote, echoing calls from three shareholders last week to delay any purchase until after a Dec. 18 shareholder meeting. Allergan is the target of a hostile bid by Quebec-based Valeant Pharmaceuticals International Inc. and New York City hedge fund Pershing Square Capital Management LLC. Valeant was also down, by 3% at midday to $127.76 and a market cap of $44 billion.
Irvine-based medical device maker Masimo Corp. was down 7.8% to $22.15 and a market cap of $1.2 billion, giving back some of its 13% gains from yesterday’s session when a Delaware jury awarded it $467 million in a patent dispute with Philips Electronics NA, a unit of a Dutch company. Philips said it would appeal.
