Health care stocks were edging lower Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each down 0.1%.
The iShares Biotechnology ETF (IBB) shed 0.3%.
In corporate news, Pfizer (PFE) lifted its full-year outlook on Tuesday, driven by higher expectations for sales of its COVID-19 drugs, as it swung to higher-than-expected earnings in Q3 and revenue jumped 31%. Its shares still were down 1.8%.
Novartis (NVS) reported Q3 core earnings Tuesday of $2.06 per share, up from $1.74 a year earlier and above the Capital IQ consensus estimate from four analysts of $1.93. Its shares were falling 5%.
Tenet Healthcare (THC) shares jumped 11% after the company posted better-than-expected Q3 results and raised its full-year earnings guidance.
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