Pfizer (PFE) Drags on XLV ETF
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Health Care Select Sector SPDR Holdings (NYSE: XLV) was down early Tuesday after Pfizer (NYSE: PFE) reported Q1 earnings and offered a FY12 outlook.
Pfizer Inc makes up 11.76 percent of XLV ETF, its second largest holding behind Johnson & Johnson (NYSE: JNJ).
After trading to as low as $22.55 (down about 1.5 percent), Pfizer shares began grinding back to even as the broader stock market lifted the pharma giant. Stocks surged at 10am ET as data from the Institute of Supply Management came in better than expected. While Pfizer shares are now flat, the XLV ETF is up 0.5 percent.
Pfizer Inc makes up 11.76 percent of XLV ETF, its second largest holding behind Johnson & Johnson (NYSE: JNJ).
After trading to as low as $22.55 (down about 1.5 percent), Pfizer shares began grinding back to even as the broader stock market lifted the pharma giant. Stocks surged at 10am ET as data from the Institute of Supply Management came in better than expected. While Pfizer shares are now flat, the XLV ETF is up 0.5 percent.
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