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Tuesday, Apr 16, 2024
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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,680.30.

The Dow Jones Industrial Average fell 0.1% to 24,720.53.

The Nasdaq dropped 0.3% to 6,937.56.

The yield on a 10-year Treasury bond declined 0.7% to 2.47%.

The price of gold climbed 0.7% to $1,288.

TECHNOLOGY

Lantronix Inc. (Nasdaq: LTRX), jumped 7.2% to $2.09 and a $38 million market cap. Volume of 229,000 was almost four times the daily average of the past three months. Shares of the Irvine company, which makes secure connectivity products for the Internet of Things market, are still down almost 50% from their 52-week high in March.

HEALTHCARE

Tustin’s Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) rose 5.3% to $4.18 and a $189 million market cap. The drug manufacturer, which has been in a proxy battle, named Roger J. Lias as chief executive and president to succeed Steven W. King. The company is in the process of officially changing its name to Avid Bioservices, its contract unit, and adopting a new NASDAQ ticker symbol.

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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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