09:16 AM EDT, 07/30/2024 (MT Newswires) -- Health care stocks were advancing premarket Tuesday with the Health Care Select Sector SPDR Fund ( XLV ) 0.1% higher and the iShares Biotechnology ETF ( IBB ) recently up 0.1%.

Fresenius Medical Care ( FMS ) shares declined by over 6% after it reported a Q2 revenue of 4.77 billion euros ($5.16 billion), down from 4.83 billion euros a year earlier.

Merck ( MRK ) shares were down by nearly 4% after it lowered its full-year non-GAAP earnings per share forecast to between $7.94 and $8.04, from the previous range of $8.53 to $8.65.

Incyte ( INCY ) shares were up more than 2% after it reported Q2 revenue of $1.04 billion, compared with $954.6 million a year earlier. The company also raised its full-year net product revenue guidance for its drug Jakafi.