Midday Report: Bristol-Myers Drags Health Care Lower; U.S. Stocks Slip

U.S. stocks moved lower as a selloff in health care soured the jobs-inspired rally that pushed benchmark indices to record highs last week. A jump in crude prices helped to keep losses shallow. Bristol-Myers Squibb  (BMY) - Get Report led the health care sector lower after Credit Suisse cut its rating to NEUTRAL from OUTPERFORM. The biotech company slumped on Friday in the second-biggest one-day drop in its history after disappointing trial results for a highly-anticipated lung cancer treatment. 21st Century Fox (FOXA) - Get Report was downgraded to EQUAL WEIGHT from OVERWEIGHT at Barclays. The firm also removed the stock from its top picks list, citing a lack of near-term catalysts. Dean Foods (DF) - Get Report slipped after recording another quarter of declining sales, its sixth quarter in a row. However, lower raw milk costs did help to drive profit higher.