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The health-care sector of the S & P 500 is up about 8% year to date, marking a sharp comeback from a largely flat 2023. Even as health care is making a comeback this year, investors shouldn't forget its defensive attributes. Back in 2022, when the S & P 500 fell 19.4%, the health-care sector slipped only 3.5% "When markets are challenged, health care can be a good place to be," Lyons added. Some of them speak to the growth aspects of health care and why you can play offense." Merger activity is another driver of growth in health care, as large pharmaceutical companies snap up nimble biotech firms that are at the forefront of developing treatments.
Persons: Dan Lyons, Janus Henderson, shouldn't, Lyons, ImmunoGen, Seamus Fernandez, Sotatercept, Cigna, Cantor Fitzgerald, Sarah James, Fred Imbert Organizations: Big Tech, . Healthcare, Janus, Janus Henderson Investors, U.S . Food, Drug Administration's Center, Drug, Research, FDA, Esai, Pharmaceuticals, CNBC Pro, Merck, Abbott Laboratories, AbbVie, CVS Health Locations: U.S
The Levi Strauss & Co. label is seen on jeans in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Check out the companies making the biggest moves before the bell:Levi Strauss — The apparel retailer fell 7.7% after slashing its profit outlook for the year postmarket Thursday. Levi now expects adjusted earnings per share of $1.10 to $1.20 for the year, down from $1.30 to $1.40 previously. Alibaba — U.S. listed shares of the Chinese ecommerce retailer gained about 3% before the opening bell. First Solar - Shares added 1.7% after the solar company secured a five-year revolving credit and guarantee facility worth $1 billion.
Persons: Levi Strauss, Levi, Alibaba, Ant, Wanxiang, JPMorgan Chase, Tesla, Twitter, , Jesse Pound, Sarah Min Organizations: Woodbury, and Drug Administration, Medicare, Reuters, Ant Group, JPMorgan, Bloom, Bloom Energy, RBC Capital Markets, Costco —, Costco, Meta Locations: Central Valley , New York, U.S, Alibaba —, China, Shanghai
CNN —Tom Cruise – he’s just like us. Speaking in London ahead of the release of “Mission Impossible: Dead Reckoning Part One,” Cruise shared that, yes, he feels fear. “It’s more fun to finish a ‘Mission Impossible’ movie, for sure,” he said. “It’s a huge relief when it’s all behind you and everybody’s safe.”Tom Cruise and Rebecca Ferguson in "Mission: Impossible - Dead Reckoning Part One." “I think he’ll be jumping off things when he’s 100.”“Mission Impossible: Dead Reckoning Part One” is released in cinemas worldwide starting July 12.
Persons: Tom Cruise –, ” Cruise, “ It’s, , Cruise, Ethan Hunt he’s dangled, Christopher McQuarrie, , Tom Cruise, Rebecca Ferguson, CNN’s Becky Anderson, McQuarrie, Simon Pegg, Ving Rhames, Benji Dunn, Pegg, Tom, he’s, ” Pegg, Hayley Atwell, Pom, Hunt, Atwell, ” Esai Morales, , ” McQuarrie, “ We’ve, we’ve, we’re, “ There’s, there’s, “ I’m, I’m, Ethan Hunt Organizations: CNN, Paramount, Paramount Pictures Locations: London, Norway, Abu Dhabi, Venice, Italy, Paris, Africa
Earnings beat estimates, but sales came up short of Wall Street forecasts. Petco (WOOF) – Petco's adjusted quarterly earnings of 16 cents per share matched Street forecasts, but revenue was slightly above estimates. CrowdStrike (CRWD) – CrowdStrike plunged 17.6% in the premarket after the cybersecurity company's subscription numbers came in below analyst forecasts. NetApp (NTAP) – NetApp tumbled 10.9% in the premarket on a weaker than expected forecast from the cloud computing company, which reported better than expected quarterly earnings. Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise added 1.9% in the premarket after the enterprise computing company reported record quarterly sales and issued strong revenue guidance.
Otherwise, CrowdStrike beat estimates on the top and bottom lines in its most recent quarterly results. Petco — Shares of Petco jumped 12% after reporting third-quarter revenue that was slightly above Wall Street estimates. Workday — Shares of Workday jumped 12% after the company posted earnings results Tuesday that beat Wall Street expectations. Though earnings beat Wall Street estimates, revenue came up short. Biogen — Shares rose more than 3% after a new study on Biogen and Eisai's experimental Alzheimer's drug showed promising results.
A person familiar with assembly operations told Bloomberg that Apple and Foxconn do expect to be able to make up that shortfall in 2023. Apple slid 1.7% in premarket trading. Wynn Resorts (WYNN), MGM Resorts (MGM), Melco Resorts (MLCO), Las Vegas Sands (LVS) – Casino stocks rallied in off-hours trading after the Chinese government granted the companies provisional licenses to continue operating in Macau. Exxon Mobil (XOM), Chevron (CVX) – These and other energy stocks fell in the premarket as WTI Crude touches its lowest level in 11 months. First Solar (FSLR) – The solar company's stock fell 2.6% in the premarket following a downgrade by J.P. Morgan to "neutral" from "overweight."
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