Plunging healthcare stocks dragged Wall Street lower on Wednesday, offsetting a ...
NEW YORK - Plunging healthcare stocks dragged Wall Street lower on Wednesday, offsetting a spate of upbeat corporate earnings and encouraging economic data from the United States and China.
The healthcare sector was on track for its biggest percentage drop in four months, falling 3.3% on regulatory jitters. United Continental Holdings Inc advanced 4.6% following Tuesday’s after-market earnings report, where the airliner bested consensus estimates and held its 2019 profit target firm, even as Boeing Co’s 737 MAX jets remain grounded.PepsiCo Inc reported better-than-expected first-quarter sales on strong North American demand. The packaged food company’s shares were up 3.3%.
“This has turned into a decent earnings season,” Tuz added. Revenues have been OK and you haven’t heard guidance that things are getting softer.”
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