While the broader market was under pressure today, buyers were picking up stocks in healthcare and cybersecurity. As negotiations failed on Sunday between Greece and its creditors, US stocks sold off early on Monday. Although things bounced off of the morning lows, the broader market still ended in the red.
However, two groups stood out. One is cybersecurity. Buyers continued to buy up names such as CYBR, PANW, and FEYE. CYBR hit a new all-time high today at $71.86 and ended up +6.59%. FEYE added +2.55%. PANW also made a new high today at $177.4.
Healthcares popped higher in the afternoon, as more rumors about potential M&A deals circulated. CI shares vaulted +12% on rumors that ANTM may be looking to buy it. This evening, there was a report that ANTM has made a $45 billion offer for CI. The was also a report that claims that UNH has approached AET with an offer. ANTM ended the day up +2.33%. UNH added +1.13%. AET gained +4.44%. Ironically, the loser of the day in this group was HUM, which jumped a week ago from around $180 to over $220 on takeover speculation. HUM shares were down 2.77% today.
It looks like things are heating up in healthcare. I think both CI and AET will go higher tomorrow. The interesting thing is that CI may want to buy HUM to ward off ANTM. This makes HUM interesting again!
Good night and HappyTrading! ™