Updated from 12:51 p.m. EDT
Earnings beats and positive news out of
were supporting the health care sector Thursday, even as the major markets were sliding.
Amgen said Thursday that its Aranesp anemia drug was not contributing to the deaths of patients in a Phase III lung cancer trial. The biotech giant added $2.31, or 3.6%, to $62.32.
reported a 55% jump in first-quarter earnings from a year ago, topping Wall Street's consensus forecast. Gilead was higher by $3.28, or 4.2%, at $81.71.
Both Amgen and Gilead are components of the Amex Biotechnology Index, but their gains merely buoyed the index's gain of 0.7%.
Among others reporting earnings,
Dow Jones Industrial Average
posted first-quarter earnings that were in line with estimates. Meanwhile,
The Amex Pharmaceutical Index, of which both are components, was higher by 0.9%.
Among other winners,
soared 9.5% to $2.08.
, which posted a widening first-quarter loss that was still better than the Thomson First Call average estimate, was higher by 7.9% at $12.25.
St. Jude Medical
rose 5.5% after raising its full-year outlook.
, which beat estimates and guided in line for the second quarter and full year. Despite the positive news, the stock lost $2.16, or 4%, to $52.05.
reported a 12% rise in first-quarter earnings compared with the year-ago quarter. However, sales of the company's top-selling drug, the antidepressant Effexor, slid 6%. Wyeth lost 67 cents, or 1.2%, at $55.66.
Other health care providers lost ground as well.
was down 1.8%,
slid 1.2%, and
was off 1.8%.
Medical-device makers were also under pressure.
beat first-quarter earnings targets after reporting results following Wednesday's close, but the stock fell $3.09, or 4.5%, to $66.01.
Among other device makers,
shed 2.1%, and
was off 0.7%.