Healthcare stocks were little changed pre-bell Monday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) unchanged.
Tango Therapeutics (TNGX) shares were up more than 45% after the company said initial results from its phase 1/2 trial of vopimetostat in combination with Revolution Medicines' inhibitor daraxonrasib showed a six-month progression-free survival rate of 90% in patients with pancreatic cancer.
Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each shedding 1.8%.The Philadelphia Oil Service Sector Index slumped 5%, and the Dow Jones US Utilities Index advanced 0.6%.In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.West Texas Intermediate crude oil fell 3% to $90.28 a barrel, and global benchmark Brent declined 2.2% to $92.90 a barrel. Henry Hub natural gas futures dropped 3.6% to $3.22 per 1 million BTU.In corporate news, Suncor Energy (SU) shares were down 4.8% in Friday afternoon trading after Goldman Sachs downgraded the company to neutral from buy and raised its price target to CA$100 ($71.70) from CA$98.56.Duke Energy (DUK) said Friday it secured up to a $61.8 million grant from the US Department of Energy to support critical upgrades for its coal-fired power plants in Kentucky and North Carolina. Duke Energy shares rose 2.1%.StealthGas (GASS) shares rose 4.3% in Friday trading after the company's Q1 revenue beat Street consensus.NextNRG (NXXT) on Friday reported preliminary revenue of $9.3 million in May, up from $6.6 million a year earlier. NextNRG shares fell 15%.
Healthcare stocks rose late Friday afternoon with the NYSE Healthcare Index increasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.7%.The iShares Biotechnology ETF (IBB) declined 1.6%.In corporate news, Haemonetics (HAE) updated its financial reporting structure and will transition to two segments from three starting in Q1 fiscal 2027. The stock rose 1.8%.BioCardia (BCDA) received confirmation from the US Food and Drug Administration that its ongoing trial may support a premarket approval of the CardiAMP Cell Therapy System for the treatment of ischemic heart failure with reduced ejection fraction. BioCardia shares climbed 23%.CareCloud (CCLD) said shareholders approved all proposals put forward at the annual investor meeting on Thursday, including the re-election of Mahmud Haq and Cameron Munter to the board. CareCloud shares fell 1.5%.Vivos Therapeutics (VVOS) entered a deal with its senior secured lender, Streeterville Capital, to exchange up to $4.5 million of its outstanding debt for a combination of perpetual, nonconvertible preferred stock and shares. Vivos shares climbed 27%.
Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.1%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.9%.Bitcoin (BTC-USD) was down 6.2% to $59,675, and the yield for 10-year US Treasuries rose 5.9 basis points to 4.536%.In economic news, the unemployment rate remained at 4.3% in May, as expected. The labor force participation rate was also unchanged from 61.8% in April, and the size of the labor force rose by 83,000 on an increase in household employment that was partially offset by a decline in household unemployment.In corporate news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon is exploring acquisition opportunities, potentially including a wealth management firm or a private credit business, the New York Post reported Friday, citing people familiar with the matter. JPMorgan shares rose 0.3%.Fiserv (FISV) shares were down about 3.6% in Friday trading after BNP Paribas downgraded the stock to underperform from neutral and reduced its price target to $46 from $55.Interactive Brokers (IBKR) will allow eligible UK clients to participate in the initial public offering of SpaceX ahead of the listing of its shares on Nasdaq, the company said Friday. Interactive Brokers' shares were down 3.4%.