Update: Market Chatter: Takeda Pharmaceutical to Eliminate 1,000 US Jobs

Health care stocks were retreating in late Friday afternoon trading, with the NYSE Health Care Index shedding 0.6% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) dropped 2%.

In corporate news, VSee Health V shares surged 75%, a day after the company signed a deal with Ava Robotics to develop telepresence solutions for the inpatient intensive care market.

23andMe shares edged down 0.3%. A special committee of its board declined Co-Founder, Chair and Chief Executive Anne Wojcicki's indication of interest to buy the company's shares for $0.40 per share of class A stock or class B stock.

Takeda Pharmaceutical shares added 1.7%. The company plans to cut about 1,000 jobs across the US, including the closure of its research and development hub in San Diego, by the end of September, Nikkei Asia reported.

Tandem Diabetes Care shares jumped 18% after the company reported Q2 results above market expectations and raised its sales guidance for 2024.

Health care stocks were retreating in Friday afternoon trading, with the NYSE Health Care Index shedding 1% and the Health Care Select Sector SPDR Fund (XLV) down 0.9%.

The iShares Biotechnology ETF (IBB) dropped 2.6%.

In corporate news, 23andMe shares gained 1.6%. A special committee of its board declined on Friday Co-Founder, Chair and Chief Executive Anne Wojcicki's indication of interest to buy all of the outstanding shares of the company for $0.40 per share of class A stock or class B stock.

Takeda Pharmaceutical shares were rising 1.5%. The company plans to cut about 1,000 jobs across the US, including the closure of its research and development hub in San Diego by the end of September, Nikkei Asia reported.

Tandem Diabetes Care shares jumped 18.4% after the company reported Q2 results above market expectations and raised its sales guidance for 2024.

Health care stocks were flat to lower premarket Wednesday as the iShares Biotechnology ETF was inactive and the Health Care Select Sector SPDR Fund was down 0.2% recently.

Humana shares were over 6% lower after it reported Q2 adjusted earnings of $6.96 per diluted share, down from $8.94 a year earlier.

GE HealthCare Technologies shares were down over 2% after it lowered its organic growth forecast to between 1% and 2% from 4% previously.

Takeda Pharmaceutical shares were up more than 1% after it reported higher fiscal Q1 earnings and revenue.