02:01 PM EDT, 07/30/2024 (MT Newswires) -- Health care stocks fell Tuesday afternoon with the NYSE Health Care Index shedding 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) declined 0.2%.

In corporate news, Pfizer ( PFE ) lifted its full-year outlook after posting better-than-expected Q2 results, aided by double-digit revenue growth in the oncology and specialty care segments. Pfizer ( PFE ) shares rose 2%.

Merck ( MRK ) shares tumbled 9.6% after the company lowered its 2024 non-GAAP EPS forecast to $7.94 to $8.04 from $8.53 to $8.65.

Grifols ( GRFS ) revised its financial records from 2020 to 2023 downward by 457 million euros ($494 million) to adjust the value of its stake in Chinese company Shanghai RAAS, Reuters reported. Grifols ( GRFS ) shares rose 2.1%.