Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Health related stocks are helping drive the Dow Industrials above the 23,000 mark for the first time.
Johnson & Johnson (JNJ) shares rose Tuesday morning. The consumer products giant posted better- than-expected results for both its top and bottom lines. J&J credits its pharmaceutical business and its recent acquisition of of Swiss biotech firm Actelion for the beat. However, analysts heard very little about hurricane damage to the company’s seven plants in Puerto Rico during the earnings call.
UnitedHealth (UNH) was also up sharply in early trading. The Dow component raised its outlook after revenue and profits beat expectations. The nation’s largest health insurer cited growth from its Optum segment, which provides tech facing health services, for the strong results.
Some M&A action in the pharma space. Impax Labs (IPXL) shares tanked after the company said it’s merging with Amneal Pharmaceuticals to create the fifth-largest generic drug company in U.S. Analysts expect the all-stock transaction to reduce costs significantly in the first year and strengthen its ability to negotiate with wholesalers and retailers.
And shares of Dow component Boeing (BA) lost altitude today. Rival Airbus (AIR.PA) plans to take a major stake in Bombardier’s (BBDb.TO) C-Series jet business. The deal would challenge the massive tariff pushed by Boeing and the U.S. Last month, the Commerce Department ruled in favor of Boeing after it claimed Bombardier used predatory pricing to sell its C-Series jets to Delta. A final ruling is expected next year.