Health Care Up as Traders Slough Off Regulatory Fears - Health Care Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies rose as analysts interpreted the Federal Reserve's meeting minutes as a vote of confidence in the economic recovery.

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The minutes indicated that Fed officials expected at their policy meeting earlier this month that it would "soon be appropriate" to raise short-term interest rates once again.

French aerospace supplier Safran cut its bid price for Zodiac Aerospace by about 15% to 7.3 billion euros ($8.2 billion) after more of the cabin-interior installer's earnings struggles came to light.

(-By Rob Curran, rob.curran@dowjones.com)

Shares of health-care companies rose as traders bet the sector would steady itself after regulatory surprises.

Blue Cross and Blue Shield of Kansas City plans to pull out of the Affordable Care Act health insurance exchanges next year, putting part of Missouri at risk of having no providers in the health-care exchange.

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Alexion Pharmaceuticals shares slid after the biotech company said it had shuffled its executives. Analysts at brokerage Leerink said investors were rattled because the changes could be a sign that "there's more shoes to drop" at the company.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

May 24, 2017 16:25 ET (20:25 GMT)