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Thursday, Oct 6, 2022
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Midday Stock Roundup

The S&P; 500 Index fell 0.7% to 4,438.95 in midday trading while the Dow 30 was off 0.8% to 34,711.57 and Nasdaq was down 1.2% to 13,970.21.

Crude oil increased 2.3% to $94.20 a barrel.

Gold rose 0.8% to $1,870.40 an ounce.

The yield on a 10-year Treasury bond slipped 0.24% to 2.042%.

MEDICAL DEVICES 

Masimo Corp. (Nasdaq: MASI) dropped 36% to $145.64 and an $8.1 billion market cap. The Irvine-based medical device maker announced it will expand into consumer audio devices by paying $1.025 billion to acquire Viper Holdings, which owns Sound United, a consumer technology company that sells premium brands. Masimo also reiterated its 2022 revenue will be around $1.35 billion, which represents 8.9% growth year over year; analysts had estimated $1.34 billion in sales.

TECHNOLOGY 

Alteryx Inc. (Nasdaq: AYX) jumped 9.3% to $56.74 and a $3.8 billion market cap. The Irvine-based provider of software data yesterday forecast 2022 sales will be in the range of $710 million to $720 million, topping the analyst consensus for $621.8 million.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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