Health care stocks declined Tuesday afternoon with the NYSE Health Care Index falling 1.5% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.1%.
The iShares Biotechnology ETF (IBB) shed 1.1%.
In corporate news, Eli Lilly (LLY) shares tumbled 6.5% after the company lowered Q4 and full-year revenue expectations amid slower-than-expected growth in its US incretin division.
Pfizer (PFE) Chief Executive Officer Albert Bourla said the company's dispute with activist investor Starboard Value is over issues "on the margins" of its business and is not "an aggressive situation," Bloomberg reported. Pfizer shares fell 1.2%.
Illumina (ILMN) reported preliminary Q4 non-GAAP earnings of $0.91 to $0.93 per diluted share. Analysts polled by FactSet expect $0.91. The shares slumped 4.2%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.