Healthcare stocks rose Wednesday afternoon, with the NYSE Healthcare Index up 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.2%.
The iShares Biotechnology ETF (IBB) added 0.4%.
In corporate news, Corcept Therapeutics (CORT) shares jumped past 6% after the firm said Wednesday it will resubmit its new drug application to the US Food and Drug Administration in the coming weeks for relacorilant to treat Cushing's syndrome, also known as hypercortisolism.
Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.8%.In corporate news, Bath & Body Works' (BBWI) fiscal Q1 results exceeded market estimates, while the personal care and home fragrance retailer said its chief financial officer plans to step down. Its shares rose 11%.
Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.9%.The Philadelphia Semiconductor index declined 2.2%.In corporate news, Zscaler (ZS) shares tumbled 30% after the cloud security company provided a fiscal Q4 revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.