Sector Update: Healthcare Stocks Mixed Tuesday Afternoon
MT newswire2026/10/06 17:4601:46 PM EDT, 10/06/2026 (MT Newswires) -- Healthcare stocks were mixed Tuesday afternoon, with the NYSE Healthcare Index up 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.3%. The iShares Biotechnology ETF (IBB) fell 2.5%. In corporate news, McKesson (MCK) and CD&R have entered into a definitive agreement to buy Option Care Health (OPCH) for $32.05 per share, reflecting a total enterprise value of about $5.8 billion. McKesson shares were up 0.3%, and Option Care surged 33%. Jupiter Neurosciences (JUNS) said Tuesday it has started a process to evaluate strategic options, including sale or licensing, strategic partnerships, and business combinations. Its shares jumped 13%. Stryker (SYK) Chief Executive Kevin Lobo is stepping down after 14 years and transitioning to the role of executive chair of the board, effective Jan. 1, as part of a planned leadership transition, the company said Tuesday. He will be succeeded by President and Chief Operating Officer Spencer Stiles, who will also be appointed to the board, the company said. The company's shares were down 2%. ArriVent BioPharma (AVBP) shares fell 48% after it said Tuesday its phase 3 Furvent trial of firmonertinib did not achieve its primary progression-free survival goal in people with non-small cell lung cancer.
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BUZZ - Preview: Levi's shares decline, market focuses on high-end jeans sales
On Wednesday, October 7, Levi Strauss (LEVI.N) shares fell 4.3% to $19.65 ahead of the company's quarterly earnings release after the market close. With consumer spending becoming more cautious, investors are closely watching the company's progress in entering the premium jeans market. According to data from the London Stock Exchange Group (LSEG), the apparel manufacturer—known for its jeans and casual wear—is expected to report third-quarter revenue growth of about 5% year-on-year to $1.62 billion, with adjusted earnings per share at $0.36, higher than last year's $0.34. Last quarter, the company raised its annual sales forecast, betting that its premium jeans would attract high-income consumers, though its earnings outlook disappointed some investors. Jefferies, in a preview report, anticipated the third-quarter results would be "solid" given strong demand for jeans, and pointed out that the appointment of a new chief financial officer signals continued focus on future global growth. On September 30, Levi's announced the appointment of John Vandemore as chief financial officer, effective November 1, 2026; Vandemore previously worked at Skechers, where he served as corporate controller and led the global finance team for the past nine years. In response to this news, Levi's shares have declined about 5% year-to-date and approximately 20% over the past 12 months. Out of 16 brokerage firms, 13 rate the stock as "strong buy" or "buy," while 3 have it as "hold"; the median target price remains at $27, unchanged over the last three months.
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