02:36 PM EST, 12/16/2024 (MT Newswires) -- Starbucks ( SBUX ) will increase paid parental leave for US store employees working at least 20 hours per week, Chief Executive Brian Niccol said in a post on Monday on the company's website.

Shares fell 4.1% as intraday trading volume climbed to over 7.2 million versus a daily average of about 7.5 million.

President-elect Donald Trump told reporters his administration plans to "knock out" pharmacy benefit managers to bring down drug prices, Bloomberg reported.

Shares of CVS Health ( CVS ) were among the pharmaceuticals declining intraday, down 4.3%. More than 10.6 million shares traded intraday compared with a daily average of about 12.4 million.

Phillips 66 (PSX) said it agreed to sell its non-operated stake of 25% in the Gulf Coast Express Pipeline to an ArcLight Capital Partners affiliate for $865 million.

Mizuho adjusted its price target on Phillips 66 to $147 from $150 while maintaining its neutral rating.

Shares of Phillips 66 retreated 4.8% as intraday trading volume climbed to more than 1.9 million from a daily average of roughly 2.6 million.

Price: 93.45, Change: -3.97, Percent Change: -4.07