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Wednesday, Jun 7, 2023

Midday Stock Roundup

The S&P 500 rose 0.03% to 2,031.88 in midday trading.

The Dow Jones Industrial Average was flat at 17,558.64, and the Nasdaq declined 0.24% to 4,627.15.

The yield on a 10-year Treasury bond was down 2.44% to 2.32%.

The price of gold was up 2.2% to $1,167.70.


Two OC homebuilders were down on quarterly reports.

Newport Beach-based William Lyon Homes was down 8% to $22.46 and a market cap of $701.4 million. It reported third-quarter revenue and income grew, but the former missed estimates: Despite growing 37% to $207 million on a 35% increase in new home orders and a 16% boost in average home price, it missed Wall Street estimates of $241 million, and the company said some markets were weaker than expected.

Aliso Viejo-based the New Home Company LLC was down 5.1% to $14.15 and a market cap of $232.7 million. While it said revenue in the third quarter grew by one-third to $28.6 million compared with the same period last year, that was less than the $31.1 million analysts expected. It also missed profit estimates by losing $1.1 million compared with net income of $2.1 million year-over-year; Wall Street had expected a slight profit. It said backlog of homes bodes well for 2015.

Both companies reported results this morning before markets opened.


Anaheim-based technical and engineering consultant Willdan Group was up 2.7% to $15.08 and a market cap of $113.3 million as it reported third-quarter contract revenue of $28.2 million and net income of $4.2 million, or 53 cents per share. Willdan reported results after markets closed yesterday.

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