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Wednesday, Aug 10, 2022

Midday Stock Roundup

Indexes were mixed as large tech companies reported second-quarter earnings today.

The S&P 500 was down 0.4%to 3,246.54 in midday trading.

The Dow Jones Industrial Average decreased 0.7% to 26,334.71 while the Nasdaq jumped 0.4% to 10,581.79.

Crude oil decreased 2.9% to $40.06 while gold also fell 0.6% to $1,965 an ounce.

The yield on a 10-year Treasury bond was down 5% to 0.55%.


Chipmaker Skyworks Solutions Inc. (NASDAQ: SWKS) in Irvine rose 3.5% to $141.06 a share for a market cap of $23.6 billion. The Motley Fool website today said the company “is all set to take advantage of the upcoming smartphone revolution driven by the advent of 5G wireless networks.” The website said the chipmaker last week delivered “glowing” third quarter results. In the five trading sessions since that report was announced, shares have risen 7.1%. Shares have almost doubled since mid-March.


Lake Forest-based Staar Surgical Co. (Nasdaq: STAA) rose 3.8% to $58.71 a share with a $2.7 billion market cap. The implantable contact lens maker’s shares have climbed nearly 140% since March 21; its shares are also up about 75% for the year.


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