Starbucks (SBUX) will increase paid parental leave for US store employees working at least 20 hours per week, Chief Executive Brian Niccol said in a post on Monday on the company's website.

Shares fell 4.1% as intraday trading volume climbed to over 7.2 million versus a daily average of about 7.5 million.

President-elect Donald Trump told reporters his administration plans to "knock out" pharmacy benefit managers to bring down drug prices, Bloomberg reported.

Shares of CVS Health (CVS) were among the pharmaceuticals declining intraday, down 4.3%. More than 10.6 million shares traded intraday compared with a daily average of about 12.4 million.

Phillips 66 (PSX) said it agreed to sell its non-operated stake of 25% in the Gulf Coast Express Pipeline to an ArcLight Capital Partners affiliate for $865 million.

Mizuho adjusted its price target on Phillips 66 to $147 from $150 while maintaining its neutral rating.

Shares of Phillips 66 retreated 4.8% as intraday trading volume climbed to more than 1.9 million from a daily average of roughly 2.6 million.

Price: 93.45, Change: -3.97, Percent Change: -4.07