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Saturday, Jul 2, 2022
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Midday Stock Roundup

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Stock indices were down on concerns about crude oil prices continuing to decline.

The S&P 500 was down 1.6% to 1,906.95. The Dow Jones Industrial Average was down 1.4% to 16,282.52. The Nasdaq was down 2.4% to 4,572.08.

The yield on a 10-year Treasury bond was down 1.1% to 2.08%.

The price of gold was flat at $1,085.

FINANCE

Santa Ana-based First American Financial Corp. was down 5.2% to $33.05 and a $3.6 billion market cap. Goldman Sachs downgraded shares in the title and insurance services company to “sell” from “neutral.”

HEALTHCARE

Laguna Hills-based Glaukos Corp. was down 14.6% to $21.43 and a $688 million market cap. The glaucoma treatment company cited demand softness in the current quarter in a preliminary quarterly report.

RESTAURANTS

Costa Mesa-based El Pollo Loco Holdings Inc. was up 4% to $12.75 and a $489 million market cap. Sidoti & Co. initiated coverage on the fast food chain with a “buy” rating and a $17 price target.

TECHNOLOGY

Irvine-based Multi-Fine-line Electronix Inc. was down 19.7% to $13.17 and a $322 million market cap. The printed circuit board maker said in a preliminary report that revenue in its most recent quarter would be about $169 million, compared with analyst expectations of $189 million.

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