The S&P 500 was down 0.8% in midday trading to 2,029.41.
The Dow Jones Industrial Average was down 0.9% to 17,299.49.
The Nasdaq was down 1.1% to 4,949.61.
The yield on a 10-year Treasury bond was down 2% to 2.27%.
The price of gold was flat at $1,081.
RESTAURANTS
Costa Mesa-based El Pollo Loco Holdings Inc. was down 7.5% to $10.66 and a $408 million market cap. The fast-food chicken chain reported a disappointing quarter and cut its outlook for the year. Analysts at Baird downgraded the company’s shares from “outperform” to “neutral” and cut its price target from $34 to $12.
HEALTHCARE
Irvine-based Biolase Inc. was up 31% to $1.05 and a $59 million market cap. The company said two groups of large shareholders had agreed not to buy more than 20% of the dental laser maker nor sell shares to groups who would by that sale own more than 20% of its common stock. Biolase also said Nasdaq had informed the company it wasn’t in compliance with the exchange’s $1 minimum share price rule.
Irvine-based NuGene International Inc. was down 11.4% to $1.22 and a $49 million market cap. The skin-care products maker lost $2.1 million in its most recent quarter, compared with a profit in the same period last year.
Newport Beach-based Pacific Health Care Organization Inc. was down 26% to $8 and a $6.4 million market cap. The workers comp servicer reported revenue declined 25% and income fell 19% in its most recent quarter.
