Closing Bell: Sanofi Falls on Weak Diabetes Sales; Crude Tops $46

Stocks ended the day lower in a quieter session of trading compared to Wednesday's blowout rally.
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Stocks ended the day lower in a quieter session of trading compared to Wednesday's blowout rally. The energy sector was the only sector in the green, but just barely, after crude oil settled above $46 for the first time in more than a week. French drugmaker Sanofi (SNY) fell after warning that diabetes revenue would likely decline over the next three years as its line of treatments face increasing competition in the U.S. Division sales are expected to fall by as much as 8% per annum. PayPal (PYPL) slid after reporting its first quarter as a standalone company in more than a decade. The online-payments company beat on the bottom line, while sales fell short of forecasts.