Health care stocks were softer Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each declining about 0.2%.
The iShares Biotechnology ETF (IBB) eased 0.1%.
In corporate news, CVS Health (CVS) reported better-than-expected Q4 results and projected higher 2025 earnings. The shares jumped about 16%.
Biogen (BIIB) guided for a decline in earnings and revenue for 2025 amid ongoing challenges in its multiple sclerosis product category, despite reporting stronger-than-expected Q4 results. Its shares fell 5.7%.
NKGen Biotech (NKGN) shares jumped 37% after it said the US Food and Drug Administration granted fast-track designation to troculeucel to treat moderate Alzheimer's disease.
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