Sector Update: Health Care Stocks Advance in Afternoon Trading

MT Newswires Live
2024/07/25

Sector Update: Health Care Stocks Advance in Afternoon Trading

Health care stocks were rising Wednesday afternoon, with the NYSE Health Care Index up 0.7% and the Health Care Select Sector SPDR Fund (XLV) adding 0.8%.

The iShares Biotechnology ETF (IBB) was 0.7% higher.

In corporate news, Thermo Fisher Scientific (TMO) shares climbed 3.1%. The company increased its full-year earnings outlook on Wednesday as its Q2 results beat market expectations.

Boston Scientific (BSX) reported stronger-than-expected results for Q2, aided by broad portfolio revenue gains, as the company raised its full-year outlook. Its shares were down 1.1%.

Pieris Pharmaceuticals (PIRS) shares skyrockted 79%. The company and Palvella Therapeutics said Wednesday they have agreed to merge in an all-stock deal.

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