Drug Makers Down, Banks Up on Wall Street

Technology also fared well Thursday
By Newser Editors and Wire Services
Posted Oct 26, 2017 3:44 PM CDT

(Newser) – Stocks closed higher Thursday on Wall Street led by technology companies and banks, but drug makers and distributors tumbled, the AP reports. Aetna surged nearly 12% after the Wall Street Journal reported it's in talks to be acquired by drugstore chain CVS. McKesson fell 5.2% after a report said pharmaceutical boards in at least 12 states gave Amazon approval for wholesale pharmacy licenses. Drugmaker Celgene plunged 16.6% after it cut its profit forecast for this year and its estimates for the year 2020 as well.

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The Standard & Poor's 500 index gained 3 points or 0.1%, to 2,560. The Dow Jones industrial average rose 71 points, or 0.3%, to 23,401. The Nasdaq composite slipped 7 points, or 0.1%, to 6,557.

(Read more stock market stories.)

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