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Friday, Dec 9, 2022
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Midday Stock Roundup

Indexes fell amid reports that Russians were not deescalating on the Ukraine border.

The S&P; 500 dropped 1.1% to 4,423.94 during midday trading. 

The Dow Jones Industrial Average decreased 1% to 34,581.03.

The Nasdaq was down 1.7% to 13,891.23.

The yield on a 10-year Treasury bond slipped 3% to 1.9840%.

The price of gold increased 1.4% to $1,898.10 an ounce.

The price of oil decreased 2.1% to $91.68 a barrel.

MEDICAL DEVICES

Irvine-based medical technology company Masimo Corp. (Nasdaq: MASI) jumped 11% to $159.92 per share and a market cap of $8.6 billion. Masimo’s stock fell 35% on Wednesday after the company announced the $1 billion acquisition of consumer electronics company Sound United; Piper Sandler analyst Jason Bednar downgraded Masimo from Overweight to Neutral and lowered the price target from $330 to $200.

TECHNOLOGY

Irvine-based WM Technology Inc. dipped 7% to $5.02 per share and a $330 million market cap. Shares in the parent company to Weedmaps traded at a volume of 325,565, compared to its average volume of 974,208. The company announced it will release fourth quarter results on Feb. 23.

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Audrey Kemp
Audrey Kemp
Audrey Kemp is a staff reporter and occasional photojournalist for the Orange County Business Journal. Her beats include — but are not limited to — healthcare, startups, and education. While pursuing her bachelors in literary journalism at UC Irvine, she interned for New York-based magazine Narratively Inc., wrote for Costa Mesa-based lifestyle magazine Locale, and covered the underground music scene for two SoCal-based music publications. She is an unwavering defendant of the emdash and the Oxford comma.
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