01:53 PM EDT, 10/31/2024 (MT Newswires) -- Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index down 0.3% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) fell 1.3%.

In corporate news, Merck's ( MRK ) Q3 earnings fell year over year, while revenue increased as the company cut its full-year, bottom-line outlook amid the impact of business development deals. Its shares fell over 2%.

Teleflex ( TFX ) shares tumbled nearly 15% after the company lowered its outlook for revenue growth.

Acadia Healthcare ( ACHC ) shares sank 17% in recent trading, a day after it posted lower-than-expected Q3 revenue and trimmed its full-year 2024 guidance to levels below analyst estimates.