U.S. equities were lower as investors await a vote by Congress on the tax reform bill. The three benchmark U.S. indexes were in the red during midday trading.
Shares of Kindred Healthcare Inc. (KND) slipped after reaching an agreement to be acquired for $9 a share by Humana Inc. (HUM) and two private-equity firms, TPG Capital and Welsh, Carson, Anderson & Stowe. The total value of the deal is about $4.1 billion in cash, including debt.
Meanwhile, United Parcel Service Inc. (UPS) stock rose slightly after announcing a reservation for 125 of Tesla Inc.'s (TSLA) new fully-electric Semi tractors. The new tractors will join UPS's extensive alternative fuel and advanced technology vehicle fleet, comprised of trucks and tractors propelled by electricity, natural gas, propane and other non-traditional fuels.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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