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Saturday, Aug 13, 2022
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Midday Stock Roundup

The S&P; 500 was off 0.7% to 4,481.02 in midday trading.

The Dow 30 dropped 1% to 34,467.82 and the Nasdaq declined 0.3% to 14,066.49.

Crude oil rose 4.4% to $114.05 a barrel.

Gold increased 0.7% to $1,935 an ounce.

The yield on the 10-year bond fell 1.14% to 2.346%.

GAMING

GAN Limited (Nasdaq: GAN) fell 11% to $4.83 and a $204 million market cap. The Irvine-based provider of Internet gaming solutions and sports betting yesterday reported fourth-quarter revenue and profit that missed analysts’ consensus estimates. It also forecast 2022 sales of $155 million to $165 million, below the average analyst estimate of $171 million.

MEDICAL DEVICES

Edwards Lifesciences Corp. (NYSE: EW) dropped 4.5% to $107.90 and a $67 billion market cap, the most valuable publicly traded company based in Orange County. The shares have fallen about 18% this year since reaching a 52-week high in late December.

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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