Sector Update: Health Care Stocks Higher Late Afternoon-June 2024-www.financetom.com

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Sector Update: Health Care Stocks Higher Late Afternoon

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Sector Update: Health Care Stocks Higher Late Afternoon

Jul 26, 2024 1:37 PM

04:05 PM EDT, 07/26/2024 (MT Newswires) -- Health care stocks rose late Friday afternoon, with the NYSE Health Care Index adding 1% and the Health Care Select Sector SPDR Fund (XLV) rising 0.6%.

The iShares Biotechnology ETF (IBB) advanced 0.9%.

In corporate news, Avantor ( AVTR ) shares jumped 11.7% after the company posted better-than-expected Q2 adjusted earnings.

Legend Biotech ( LEGN ) shares dropped 3.8% after the company reported Friday a preliminary net loss of between $75.4 million and $87.4 million for the six months ended June 30.

DexCom ( DXCM ) shares tumbled 40.7% in recent trading Friday, a day after the company reported its Q2 revenue that fell short of market estimates.

Bristol-Myers Squibb ( BMY ) shares popped 11.5%. The company reported Friday Q2 non-GAAP earnings of $2.07 per share, up from $1.75 a year earlier. Analysts polled by Capital IQ expected $1.63.

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