The S&P 500 was down 0.3% in midday trading to 2,085.16.
The Dow Jones Industrial Average was down 0.3% to 17,722.60.
The Nasdaq was down 0.6% to 5,067.26.
The yield on a 10-year Treasury bond was up 3.5% to 2.17%.
The price of gold was down 2.5% to $1,147.
REAL ESTATE
Orange County homebuilders were down on a decline in a housing index. The National Association of Realtors said a measure of pending home sales before they become final fell 2.3% in September, the second consecutive monthly decline and contrary to economists’ expectations of a 1% increase. This follows the U.S. Commerce Department’s new home sales report Tuesday which showed home sales fell 11.5% last month.
Irvine-based CalAtlantic Group Inc. was down 5.5% to $37.66 and a $4.8 billion market cap. Irvine-based Tri Pointe Group Inc. was down 3.1% to $13 and a $2.2 billion market cap. Newport Beach-based William Lyon Homes was down 3.3% to $21.52 and a $700 million market cap. Aliso Viejo-based New Home Co. Inc. was down 3.2% to $14.45 and a $242 million market cap.
HEALTHCARE
Irvine-based Endologix Inc. was down 4.4% to $8.68 and a $588 million market cap. The maker of devices to treat abdominal aortic aneurysms has lost a third of its value since Tuesday, when it announced a $211 million acquisition of a competitor. Yesterday the company cut a proposed debt offering from $150 million to $110 million.
Irvine-based ChromaDex Corp. was up 8.2% to $1.38 and a $148 million market cap on high volume. The natural products ingredients maker had by midday traded shares at about double its average rate.
