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Friday, Dec 9, 2022
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Midday Stock Roundup: Masimo rebounds; WM dips

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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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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