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Wednesday, Dec 7, 2022
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Midday Stock Roundup

The S&P; 500 fell 0.3% to 4,454.28 in midday trading Tuesday.

The Dow Jones Industrial Average was down 0.6% to 34,654.45, while the Nasdaq was off 0.1% to 15,095.42.

Crude oil was flat at $70.47.

Gold rose 0.7% to $1,806.20.

The yield on a 10-year Treasury fell 3.2% to 1.28%.

TECHNOLOGY 

Irvine-based WM Technology Inc. (Nasdaq: MAPS) rose 5% to $14.78 after announcing its acquisition of cloud-based marketing software provider Sprout on undisclosed terms. WM, with a market cap of $1.9 billion, is the parent to Weedmaps, a provider of information for cannabis-related businesses. The Sprout deal adds further customer relationship management, analytics, loyalty program and other marketing abilities to WM’s fold.

HEALTHCARE

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) was off 4.8% to $18.84 for a market cap of $1.2 billion. The biologics contract manufacturer’s stock is still up nearly 60% since the start of the year.

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