Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 0.9% and the State Street Healthcare Select Sector SPDR ETF (XLV) increasing 0.7%.
The iShares Biotechnology ETF (IBB) rose 0.3%.
In corporate news, Corcept Therapeutics (CORT) shares climbed past 12% after UBS Securities upgraded the stock to buy from neutral and raised its price target to $72 per share from $44.
Okeanis Eco Tankers (ECO) reported Q1 adjusted earnings late Wednesday of $2.33 per diluted share, up from $0.36 a year earlier.Analysts polled by FactSet expected $2.52.Revenue in the three months ended March 31 rose to $170.2 million from $80.1 million a year earlier.Analysts surveyed by FactSet expected $134 million.The company raised its quarterly dividend by $0.45 to $2 a share, payable June 5 to stockholders of record May 28.Okeanis shares rose 1.4% in after-hours trading.
Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier.Analysts polled by FactSet expected $1.03.Revenue in the three months ended April 25 rose to $15.8 billion from $14.1 billion a year earlier.Analysts surveyed by FactSet expected $15.6 billion.Cisco expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts project EPS of $1.08 on revenue of $15.8 billion.The company boosted its full-year guidance to adjusted EPS of $4.27 to $4.29 on revenue of $62.8 billion to $63 billion. The prior forecast was EPS of $4.13 to $4.17 on revenue of $61.2 billion to $61.7 billion.Analysts project EPS of $4.16 on revenue of $61.6 billion.Cisco shares jumped 13% in after-hours trading.
Price: $101.70, Change: $+2.40, Percent Change: +2.42%