A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada. The wider market sentiment turned negative after the White House announced plans to impose a 35% tariff on Canadian imports, sparking renewed fears of a trade war. This news prompted a sell-off across major U.S. indexes, including the S&P 500 and the Dow Jones Industrial Average, as investors grew concerned about the potential economic impact of escalating protectionist policies.
The healthcare sector is especially vulnerable to such tensions due to its deeply integrated supply chains with Canada for pharmaceuticals and medical devices, meaning increased costs and potential disruptions.
Shares of medical supply and logistics company Owens & Minor (NYSE:OMI) fell 3% in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada. The wider market sentiment turned negative after the White House announced plans to impose a 35% tariff on Canadian imports, sparking renewed fears of a trade war. This news prompted a sell-off across major U.S. indexes, including the S&P 500 and the Dow Jones Industrial Average, as investors grew concerned about the potential economic impact of escalating protectionist policies.
The healthcare sector is especially vulnerable to such tensions due to its deeply integrated supply chains with Canada for pharmaceuticals and medical devices, meaning increased costs and potential disruptions.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
A number of stocks fell in the morning session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
Shares of biopharmaceutical company Bristol Myers Squibb (NYSE:BMY)
fell 3.5% in the afternoon session after a cautious analyst note from UBS highlighting significant upcoming expenses and other headwinds. Ahead of its second-quarter earnings report, UBS reiterated its "Neutral" rating on the stock. The firm's note pointed to several challenges, including an expected $1.5 billion expense for in-process research and development (IPR&D) related to a collaboration with BioNTech. This charge is anticipated to reduce the company's earnings per share (EPS) by approximately $0.60. The report also touched on broader investor concerns, such as the impact of Medicare's Part D redesign on several of the company's high-priced drugs and the looming patent expirations for key products. These factors contribute to a more cautious outlook on the pharmaceutical giant's near-term profitability and growth prospects.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
A number of stocks fell in the afternoon session after the U.S. administration announced a sharp escalation in trade tensions by threatening new tariffs on Canada.
Outlook on United Health Stock with new CEO, new financial guidance, and stock has fallen 40% year-to-date and has plummeted 42.2% in the past three months.
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UnitedHealth is under federal investigation for Medicare billing practices, including use of nurses and software to log diagnoses that led to billions in extra payments.
UnitedHealth, Centene, and Elevance suffered steep market cap losses amid earnings guidance withdrawals and potential Medicaid changes tied to new legislation.
