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Sector Update: Health Care Stocks Decline Friday Afternoon
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Sector Update: Health Care Stocks Decline Friday Afternoon
Dec 6, 2024 11:18 AM

01:48 PM EST, 12/06/2024 (MT Newswires) -- Health care stocks fell Friday afternoon with the NYSE Health Care Index down 0.2% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) rose 1%.

In corporate news, UnitedHealth's ( UNH ) insurance unit was ordered by a US judge to again reconsider its previously denied coverage claim for a teenager's $175,000 mental health and substance abuse treatments, saying the latest denial had no legal basis, according to a court document. UnitedHealth ( UNH ) shares fell 4.9%.

UnitedHealth ( UNH ) and CVS Health ( CVS ) removed executive photos from their websites after UnitedHealthcare Chief Executive Officer Brian Thompson was killed in a targeted attack in Manhattan on Wednesday, Reuters reported. CVS shares were down 2.3%.

CERo Therapeutics ( CERO ) shares tumbled 36%. The company appointed Chris Ehrlich as permanent CEO, effective immediately. Ehrlich had been interim CEO role.

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