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Saturday, Jul 2, 2022
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Midday Stock Roundup

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Major U.S. indices rose Friday, despite April unemployment reaching a record high of 14.7% as COVID-19 took a toll on payrolls.

The S&P 500 was up 1.4% to 2,923.35.

The Dow Jones Industrial Average rose 1.5% to 24,244.23, while the Nasdaq increased 1.6% to 9,119.79.

Crude oil was up 2% to $24.03.

Gold fell 0.3% to $1,720.

The yield on a 10-year Treasury was up 4.3% to 0.66%.

HEALTHCARE

ICU Medical Inc. (Nasdaq: ICUI) shares slumped 7.8% to $200.33, a day after reporting first-quarter results during which it lowered its guidance for the full year citing exchange rates, interest on its revolver and lower interest being generated for its cash on hand.

The San Clemente-based medical device maker had a recent market cap of $4.2 billion.

REAL ESTATE

Irvine-based hospitality REIT Sunstone Hotel Investors Inc. (NYSE: SHO) shares were off 5.3% to $8.22 as the company swung to a loss and reported Friday a total revenue slump for the March quarter. The company currently has 14 of its 20 hotels temporarily shuttered as a result of COVID-19, suspended quarterly dividends, shelved a stock repurchase program and tapped $300 million on its credit line.

Sunstone had a recent market value of $1.8 billion.

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