Stocks - Healthcare Sees Big Winners and Losers Midday

Aug 07, 2018

Healthcare stocks were jumping on the upside and the down side midday.

Drug stocks were among the biggest gainers and losers following quarterly results, which left the S&P 500 Health Care Sector index near the unchanged level. It was up about 0.05% as of 11:45 AM ET (15:45 GMT).

Mallinckrodt (NYSE:MNK) soared about 24% on strong earnings and a boost in guidance. The company results were buoyed by stronger-than-expected sales of its H.P. Achtar Gel, which treats multiple sclerosis and other conditions.

But that treatment is not without its controversy. It now costs $38,000 a year compared with its original price of $40.

On the flip side, Spark Therapeutics (NASDAQ:ONCE) plunged into the red, falling about 30%.

The company reported adverse reactions in two patients in a trial for a hemophilia treatment.

And dental supply company Dentsply Sirona (NASDAQ:XRAY) lost about 19% after cutting its full-year outlook.

Energy stocks were active again as crude oil rose on the first day that the initial round of U.S. sanctions on Iran went into effect.

The S&P Energy Sector index was up about 1%. Components ConocoPhillips (NYSE:COP), Newfield Exploration (NYSE:NFX) and Marathon Petroleum (NYSE:MPC) all gained more than 2%.