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Sector Update: Healthcare Stocks Decline Late Afternoon

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Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index falling 1.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) shedding 1%.

The iShares Biotechnology ETF (IBB) dropped 2.4%.

In corporate news, Thermo Fisher Scientific (TMO) could benefit from improving end-market conditions and recovering biotech funding, though "structural risks" may limit the company's ability to achieve its long-term organic growth aspiration, RBC Capital Markets said in a note. RBC resumed coverage of Thermo Fisher with a sector perform rating and a $490 price target. Thermo Fisher shares were down 2.3%.

Aardvark Therapeutics (AARD) shares fell 32% after the firm said the US Food and Drug Administration placed a full clinical hold on its investigational new drug application for ARD-101. Morgan Stanley downgraded the stock to underweight from equalweight, and BTIG downgraded to neutral from buy.

DexCom (DXCM) said Friday it has set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030. Its shares climbed past 6%.

ARS Pharmaceuticals (SPRY) shares fell 7% after it posted a wider Q1 loss.

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Sector Update: Tech Stocks Fall Late Afternoon

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Sector Update: Energy

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 2%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index fell 2.2%.Front-month West Texas Intermediate crude oil gained 4.2% to $105.43 a barrel, and the global benchmark Brent crude contract was advancing 3.4% to $109.31 a barrel. Henry Hub natural gas futures rose 2.7% to $2.97 per 1 million BTU.In corporate news, Prairie Operating (PROP) shares fell 16% after it reported a Q1 loss late Thursday of $2.16 per diluted share, narrowing from a loss of $3.49 a year earlier. Four analysts polled by FactSet expected earnings of $0.15.

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Sector Update: Financial

Financial stocks declined in late Friday afternoon trading, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.3%.The Philadelphia Housing Index shed 2.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.3%.Bitcoin (BTC-USD) was declining 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to nearly 4.60%.In corporate news, Apollo Global Management-backed (APO) West Technology is in exclusive talks for the sale of its remaining operating business as talks with debt holders continue, Bloomberg reported. Apollo shares were up 0.1%.

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