Financial Wire

Sector Update: Health Care

-- Health care stocks declined late Friday afternoon, with the NYSE Health Care Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.

The iShares Biotechnology ETF (IBB) shed 1.7%.

In corporate news, AbbVie (ABBV) is expected to report Q1 earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a client note. The brokerage expects AbbVie to report per-share earnings of $2.59 for the first quarter, while the current consensus on FactSet is for non-GAAP EPS of $2.83. AbbVie shares were down 2%.

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