Topics

Pharmaceutical Industry
Stocks edge lower at start of busy week for earnings

U.S. stocks slumped on Monday as investors looked ahead to a flood of earnings reports this week. Stocks appeared headed for new highs in the morning, but drifted lower in afternoon as health care companies dropped sharply. Mylan, a maker of generic drugs, slumped nearly 6 percent. It was a downbeat note after strong gains last week, capped by a new record in the Nasdaq composite, 15 years after its dot-com era peak. With little news and stocks at highs, “I think we have some profit-taking here,” said chief stock strategist Phil Orlando, of Federated Investors as stocks started moving lower in the afternoon. The Dow Jones industrial average fell 42.17 points, or 0.2...

Loading