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Drug wholesalers down on rating
Goldman Sachs cut the group drug sector to cautious from neutral due to concerns of slowing unit and sales growth in the U.S. drug business. It also said drug price increases may be decelerating. AmerisourceBergen fell 7% while Cardinal Health and McKesson both lost 5%.
Lab testers fall on hospital fears
Quest Diagnostics fell 6.5% and Laboratory Corp. of America lost 2% after SG Cowen downgraded the clinical testing services firms. The brokerage cited a survey showing that many hospitals are doing more of their own lab testing. Quest said the downgrade was based on old news.