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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 and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding about 0.4%.

The iShares Biotechnology ETF (IBB) fell 2.7%.

In corporate news, BioNTech (BNTX) said it terminated its phase 2 trial evaluating autogene cevumeran as an adjuvant monotherapy in people with colorectal cancer. The trial's independent safety board recommended discontinuing treatment and ending the trial, as further continuation was unlikely to change the efficacy outcome, the company said. Shares fell 8%.

Eli Lilly (LLY) said the US Food and Drug Administration approved Mounjaro to lower the risk of major adverse cardiovascular events in adults with type 2 diabetes who are at high risk for those events. Lilly shares were down 0.9%.

10x Genomics (TXG) said a Delaware federal jury awarded the company more than $4.8 million after finding that three patents held through its Scale Biosciences unit were infringed by Parse Biosciences, a subsidiary of Qiagen (QGEN). 10x Genomics shares were down 5.2%, and Qiagen was shedding 1.3%.

Quoin Pharmaceuticals (QNRX) reported "positive" interim data from its ongoing phase 2/3 study of QRX003 in patients with netherton syndrome, and also a private placement financing of up to $50.0 million. Shares surged 18%.

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Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks declined late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.1%.In corporate news, Hormel Foods (HRL) lowered its fiscal 2026 sales outlook after reporting mixed Q3 results with sales falling amid soft consumer demand. The stock slumped 10%.Celsius Holdings (CELH) shares fell 6.1% after Deutsche Bank downgraded the stock to hold from buy and raised its price target to $35 from $30.Dollar General (DG) and Dollar Tree (DLTR) raised their full-year earnings outlooks as the discount retailers' earnings benefited from tariff refunds in fiscal Q2. Dollar General shares rose 2.9%, and Dollar Tree fell 3.2%.Unilever (UL) hired Rothschild to market its 212-year-old Colman's mustard brand as it seeks to address potential competition concerns from the planned combination of its food business with McCormick (MKC), Sky News reported. Unilever shares fell 0.7%.

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Sectors

Sector Update: Healthcare Stocks Decline Late Afternoon

Healthcare stocks fell late Thursday afternoon, with the NYSE Healthcare Index down 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 1%.The iShares Biotechnology ETF (IBB) was down 0.1%.In corporate news, Moderna (MRNA) shares dropped 5% after the firm said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.HealthEquity (HQY) shares fell past 10% after the company posted fiscal Q2 results.Novo Nordisk (NVO) said China's National Medical Products Administration has accepted its marketing application for the oral version of its weight-loss drug Wegovy, Reuters reported. Shares were down 2%.NeoGenomics (NEO) shares jumped past 7% after the company said its RaDaR ST molecular residual disease assay received expanded Medicare coverage to include immunotherapy response monitoring for patients with late-stage solid tumors.

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Sector Update: Financial Stocks Softer Late Afternoon

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