Sector Update: Health Care Stocks Rise in Afternoon Trading

MT Newswires Live11-09

Health care stocks were higher Friday afternoon, with the NYSE Health Care Index rising 0.9% and the Health Care Select Sector SPDR Fund (XLV) adding 1.1%.

The iShares Biotechnology ETF (IBB) rose 0.5%.

In corporate news, Astrana Health (ASTH) said Friday it agreed to buy certain businesses and assets of Prospect Health System for $745 million in a bid to expand its care provider network. Astrana shares tumbled more than 18%.

Agilon Health (AGL) shares plunged 31% in recent trading, a day after reporting a wider Q3 net loss and missing market expectations.

QuidelOrtho (QDEL) shares jumped 13% in recent trading, a day after the company reported better-than-expected Q3 adjusted earnings and revenue.

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