The S&P 500 was up 0.3% to 2,114.49
The Dow Jones Industrial Average was up 0.4% to 18,072.73. The Nasdaq was up 0.4% to 5,091.56.
The yield on a 10-year Treasury bond was up 3.8% to 2.17%.
The price of gold was up 0.1% to $1,191.
HOMEBUILDING
Irvine-based Tri Pointe Group Inc. was up 3% to $14.84 and a $2.4 billion market cap. FBR Capital upgraded shares of the homebuilder to “buy” and raised its price target to $17, citing the integration of recent acquisitions, growing operating margins and the company’s land portfolio.
The upward move seems to be drawing other OC-homebuilders with it. Irvine-based Standard Pacific Corp. is up 1.3% to $8.35 and a $2.3 billion market value on its common stock. Newport Beach-based William Lyon Homes is up 1.8% to $23.03 and a $724 million market cap. Aliso Viejo-based New Home Co. Inc. is up 1% to $15.81 and a $261 million market cap.
RETAIL
Irvine-based Boot Barn Holdings Inc. is up 12.5% to $27.52 and a $707 million market cap. The western wear retailer said it would pay $147 million for Wichita, Kan.-based Sheplers Inc. The smaller competitor operates 25 stores and an ecommerce site, which accounted for $66 million of its $157 million in net sales last year. With the acquisition Boot Barn will operate 200 stores in 29 states.
Two other OC retailers aren’t faring as well. Quiksilver is down 6.2% to $1.29 and a $220 million market cap, while Anaheim-based Pacific Sunwear of California is down 4.8% to $1.48 and a $108 million market cap. PacSun issued a disappointing quarterly report last week and Quiksilver is scheduled to report quarterly numbers next week.
