Midday Report: Amgen Leads Health Care Lower; U.S. Stocks Fall

Stocks creep lower on Friday as a selloff in health care extends into its second day, this time led by Amgen shares.

Author:: Keris Alison Lahiff
Publish date:: Mar 17, 2017 12:04 PM EDT

Stocks crept lower on Friday as a selloff in health care extended into its second day, this time led by Amgen (AMGN) - Get Report shares. Biogen (BIIB) - Get Report tanked the sector a day earlier following an analyst downgrade. Amgen fell after its cholesterol drug showed weaker results than anticipated. Repatha reduced the risk of heart attacks and strokes by 15%, less than a target of at least 20%. Consumer sentiment ticked up at a faster pace in March than expected, according to a preliminary reading of the University of Michigan index. Barclays analysts note that strength supports GDP growth in the near term. Tiffany & Co. (TIF) - Get Report rose after topping fourth-quarter estimates and providing upbeat guidance. Same-store sales over its holiday quarter came in flat, far better than an anticipated drop of more than 1%.