MarketWatch writes article about 10 stocks leading today’s S&P 500 decline:
By Philip van Doorn
Published: Sept 28, 2015 5:48 p.m. ET
Drug companies take a beating as Congress looks into price increases
Pharmaceutical stocks tumbled Monday after members of Congress
requested a subpoena for information on drug price increases from
Valeant Pharmaceuticals.
By
Philipvan Doorn
Investing columnist
Oh, what a difference a little question from Congress can make.
as much as 2.7% on Monday after Rep. Elijah Cummings, a Democrat from
Maryland, and the 17 other members of the House Committee on Oversight
and Government Reform signed a letter asking for a subpoena to require
Valeant Pharmaceuticals International Inc. VRX, -16.53% to
as 15.7%.
Hillary Clinton released a plan to cut drug prices last week,
which helped send the S&P 500 health-care sector down 5.8% for the
week.
Stocks were also hammered Monday because of another set of weak
economic data out of China, and economic concerns in the U.S., with
Here are today’s 10 weakest S&P 500 stocks, measured by their intraday
lows:
Company Ticker Industry Closing price – Sept. 25 Intraday low – Sept.
28 Maximum decline – Sept. 28
Mallinckrodt PLC MNK, -12.64% Pharmaceuticals $68.45 $58.28 -14.9%
Endo International PLC ENDP, -10.20% Pharmaceuticals $68.84 $60.23
-12.5%
Freeport-McMoRan Inc. FCX, -9.08% Precious Metals $9.80 $8.62
-12.0%
Williams Cos. WMB, -12.12% Oil and Gas Pipelines $41.60 $36.85
-11.4%
Regeneron Pharmaceuticals Inc. REGN, -7.48% Biotechnology $490.67
$435.52 -11.2%
Allergan PLC AGN, -8.66% Pharmaceuticals $279.03 $247.74 -11.2%
Chesapeake Energy Corp. CHK, -9.20% Oil and Gas Production $7.39
$6.58 -11.0%
Tenet Healthcare Corp. THC, -8.34% Hospital/ Nursing Management
$40.53 $36.56 -9.8%
Mylan NV MYL, -6.31% Pharmaceuticals $43.61 $39.51 -9.4%
Qorvo Inc. QRVO, -9.29% Semiconductors $47.68 $43.41 -9.0%
Source: FactSet
after the company said it had reached an agreement to be acquired
by Energy Transfer Equity LP ETE, -12.69% for $37.7 billion in
cash and stock. Williams Cos. had resisted an earlier offer from ETE in
June. Because of the merger, Williams Cos. canceled its plan to acquire
Williams Partners WPZ, -6.18% the pipeline operator it manages.
WPZ will receive a $428 million termination fee from Williams Cos. and
remain a separate entity.
MarketWatch Article Source Here.