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Published on Oct 27, 2016
Stock
losses escalated in the final hour as an increase in Treasury yields
hit defensive names in the utilities and materials sectors. Bond prices
fell on diminished hopes of further monetary stimulus from some of the
world's largest central banks. Bristol-Myers Squibb led the healthcare
sector after laying out plans to reorganize, including redirecting
spending toward key brands. The drugmaker also topped third-quarter
earnings and increased its full-year outlook. CenturyLink spiked on
reports it is in advanced talks to merge with Level 3 Communications . A
deal could be announced in weeks. Anadarko climbed on reports Sanchez
and Blackstone could team up to purchase its South Texas assets. A deal
could value the assets between $3 billion and $3.5 billion.
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