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Sector Update: Healthcare Stocks Decline Friday Afternoon

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Healthcare stocks were lower Friday afternoon, with the NYSE Healthcare Index shedding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.5%.

The iShares Biotechnology ETF (IBB) fell 2.2%.

In corporate news, Novo Nordisk (NVO) shares fell 9% after it said Friday its drug candidate ziltivekimab did not reduce major adverse cardiovascular events in people with atherosclerotic cardiovascular disease, chronic kidney disease and inflammation compared with a placebo in a phase 3 trial.

AbbVie (ABBV) lowered its full-year earnings guidance on Friday to account for the expected dilution from its planned acquisition of Apogee Therapeutics (APGE), despite reporting stronger-than-expected Q2 results. AbbVie shares were down 2%.

Merck's (MRK) Ebola vaccine Ervebo may be evaluated to help protect frontline healthcare workers against the Bundibugyo strain driving the current Ebola outbreak in the Democratic Republic of Congo, Bloomberg reported. Merck shares added 0.7%.

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Sector Update: Energy Stocks Higher Late Afternoon

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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

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