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Friday, Sep 30, 2022
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Midday Stock Roundup

Major U.S. indexes plunged for a second straight day on fears of a coronavirus global pandemic

The S&P 500 was down 1.6% to 3,175.56.

The Dow Jones Industrial Average fell almost 2% to 27,414.79.

The Nasdaq dropped 1.7% to 9,066.20.

The yield on a 10-year Treasury bond plummeted 3.5% to 1.33%.

The price of gold decreased 1.5% to $1,651

The price for a barrel of oil fell 1.6% to $50.59.

TECHNOLOGY

Chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) of Irvine fell 2.5% to $108.45 a share for a market cap of $18.5 billion. The shares have been sliding since Apple, which is a major Skyworks customer, announced a week ago that it wouldn’t meet its second-quarter revenue guidance due to the coronavirus outbreak in China.

REAL ESTATE

Foundation Building Materials Inc. (NYSE: FBM) of Santa Ana plunged 7.1% to $16.88 a share for a market cap of $728 million. The company announced on Monday that fourth-quarter 2019 revenue of $514.8 million missed the average analyst estimate by about $24 million.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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