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Sector Update: Health Care Stocks Retreat Tuesday Afternoon
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Sector Update: Health Care Stocks Retreat Tuesday Afternoon
Oct 17, 2024 12:55 PM

02:03 PM EDT, 10/15/2024 (MT Newswires) -- Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both shedding 0.9%.

The iShares Biotechnology ETF (IBB) rose 0.4%.

In corporate news, UnitedHealth ( UNH ) narrowed its full-year earnings outlook after a greater-than-expected disruption linked to a cyber attack earlier in the year. The shares tumbled 7.2%.

Walgreens Boots Alliance ( WBA ) shares jumped 12% after the company reported fiscal Q4 adjusted net earnings and sales that topped estimates by analysts.

Johnson & Johnson ( JNJ ) reported better-than-expected Q3 results and lowered the full-year outlook amid costs associated with the acquisition of heart technology company V-Wave. The shares rose 2%.

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