Sector Update: Health Care Stocks Higher Friday Afternoon

MT Newswires Live2024-11-02

Health care stocks were advancing Friday afternoon, with the NYSE Health Care Index rising 0.7% and the Health Care Select Sector SPDR Fund (XLV) up 0.6%.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Cardinal Health (CAH) reported fiscal Q1 results that topped Wall Street expectations amid a double-digit profit increase in its pharmaceutical and specialty solutions segment, prompting the drug distributor to lift its full-year earnings outlook. Its shares popped past 6%.

Waters (WAT) shares jumped 17% after the company's Q3 adjusted earnings and sales exceeded analysts' estimates. The firm also raised its 2024 earnings guidance.

Theriva Biologics (TOVX) shares surged 27% after it said late Thursday that it has been named as one of five finalists for Merck's (MRK) Advance Biotech Grant.

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