Don't let healthcare get you down just yet... Despite a selloff in the sector on the back of a revised repeal-and-replace bill draft from the GOP on Thursday, the markets rallied Thursday and finished in the green across the board.
Still, it certainly isn't time to bet on the sector (except for some promising individual names, including Novartis NV (NVS) and potentially Abbott Labs (ABT) with everyone from drug makers to medical device companies to services firms all potentially affected by yet another GOP healthcare plan.
While the healthcare sector remained on edge, retail shot up in a big way on Thursday following raised guidance from Target Corp. (TGT) .
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- Novartis Passes FDA Blood Cancer Panel 'With Flying Colors'
- Abbott Laboratories Is Set for Another Breakout
Given the recent panic throughout the sector, especially in the wake of Amazon.com Inc.'s (AMZN) Whole Foods Market Inc. (WFM) acquisition, it isn't out of the realm of possibility that the sector has been oversold. On the other hand, there is no telling just where Amazon may look to spread its reach and that could be trouble for other corners of the retail sector, not just department stores and clothing.
If you are looking for one name in retail, Tiffany & Co. (TIF) may be your best bet as the iconic luxury jewelry maker announced Thursday that it tapped ex-Diesel SpA CEO Alessandro Bogliolo as its new CEO. The executive shuffle came after influence from activist Jana Partners, but more changes could be ahead for the 180-year-old company.
From an American institution we go to an American company that has become a real sore spot for investors, as TheStreet's Ronald Orol reported Thursday that Snap Inc. (SNAP) is likely to be excluded from a major global index due to its share structure.
It was a bright day on Wall Street on Thursday as relatively bullish comments from Fed Chair Janet Yellen and a rebound in retail helped lift the major U.S. indexes higher. But 40 years ago to date, things were actually pretty dim, some may say dark, as the 1977 New York City blackout shuttered stock trading around the world. Above is a photo of stockbroker Paul R. Esserman of Smith Barney, Harris Upham & Co. Esserman sits in his office on July 13, 1977 in Denver, idled because of the blackout that saw power cut off in New York for two days.
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