Stocks are slipping a bit here as geopolitical tensions rise and the GOP health reform bill may be on life support. John McCain (R-Ariz.) is the latest senator to say he’ll vote no Graham-Cassidy—and health care stocks are ripping higher. We break it down. Plus, Apple shares are down again as the iPhone 8 and new Apple Watch hit the stores. But, is a rebound in store for Apple? And Sprint and T-Mobile are closer to tying the knot, but will it make any difference on the mobile battlefield?
Winners and losers
Stocks in the red today include Intercept Pharmaceuticals following downgrades in the wake of an FDA warning for its liver disease drug; Carvana, as the auto retailer was initiated with a sell at B. Riley with a $12 price target; and US Steel, with slipping as Cowen downgraded shares to underperform with a lower $20 price target, citing the steelmaker’s inability to benefit from lower iron ore prices.
Stocks in the green today include Texas Instruments as the company hiked its dividend and boosted its buyback plan; First Solar hitting a 52-week high after the US international trade commission said imported solar panels hurt US manufacturers; and Sprint, with shares jumping here on reports T-Mobile and Sprint are close to finalizing a merger.