Health Care Slides Midday, but Cannabis Stocks Soar By Investing.comPosted by On




© Reuters.

Investing.com – Health care stocks took a dive midday after medical device company Cooper posted lower-than-expected results.

Cooper (NYSE:) missed its after the bell yesterday but beat revenue forecasts.

Still, shares slumped 8.5% as of 11:30 AM ET (16:30 GMT).

The index was down about 2%.

Other notable stocks include Universal Health Services (NYSE:), which dipped 2.6%, and Celgene (NASDAQ:), which fell 1.9%.

Medical marijuana companies were among the biggest gainers amid news that Altria (NYSE:) will pay $1.8 billion for 45% ownership of Cronos Group (NASDAQ:), with the potential to increase its stake to 55% over the next four years.

Cronos jumped 21%, while Altria rose 2%.



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