Health Care Down On Rotation Into Cyclical Sectors Health Care Roundup
05/27/2021 | 05:00pm EDT
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Required fields Health-care companies declined as traders rotated out of growth and defensive niches such as biotechnology and Big Pharma into economically cyclical market areas such as raw materials and industrials. Eli Lilly said it received a subpoena from the Justice Department seeking documents related to the drugmaker s manufacturing plant in Branchburg, N.J. The Biden administration called for an intelligence report on the origins of Covid 19, demanding inquiry into speculation that the emergence of the coronavirus was linked to a virology institute in Wuhan, China.
Communications Services Flat As Traders Hedge On Deal Implications - Communications Services Roundup
05/25/2021 | 05:25pm EDT
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Required fields Communications services companies were more or less flat as traders hedged their bets on the implications of deal activity. Fox News, which has common ownership with the publisher of this item, will make some of its most popular prime-time shows available on its Fox Nation streaming service shortly after airing live. Amazon.com is reportedly close to a deal to acquire buy Hollywood studio MGM for almost $9 billion including debt, in what would be the second major Hollywood deal this month.
Provided by Dow Jones
May 25, 2021 9:04 PM UTC Shares of industrial and transportation companies ticked down as investors hedged their bets on the outlook for wholesale inflation. The soaring lumber costs that have slowed construction of single-family homes are starting to pinch apartment-building developers, who use the material for interiors even in high-rise cement-and-steel buildings. Wage growth could crimp corporate profits, warned strategists at brokerage Bank of America Securities, in a note to clients. British engineering and industrial-software maker Aveva Group said pretax profit and revenue fell in fiscal 2021, as the pandemic weighed on revenue. Write to Rob Curran at rob.curran@dowjones.com
Producers of metals and other raw materials were more or less flat as China s efforts to rein in commodity prices appeared to take effect. With a series of moves designed to stop speculation,.
Shares of energy companies rose alongside oil futures as hopes of a rebound in summer demand offset challenges to the sector from shifts in environmental consciousness. Activist investor Engine.