Friday's session marked the return of a broad market trend seen for most of the week: value stocks going up and growth names underperforming.
 | TUE, NOV 17, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 119.39 | -0.91 | -0.76% | | BA | 210.05 | +7.65 | +3.78% | | INTC | 45.53 | -0.66 | -1.43% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 9.68 | +0.11 | +1.15% | | AAPL | 119.39 | -0.91 | -0.76% | | CCL | 18.05 | +0.48 | +2.73% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 119.39 | -0.91 | -0.76% | | TSLA | 441.61 | +33.52 | +8.21% | | INTC | 45.53 | -0.66 | -1.43% | |
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Looks like Amazon is getting involved in yet another lucrative business, and it's sending ripples across the U.S. equity market. The company announced Tuesday it will start fulfilling prescriptions online through a new service called Amazon Pharmacy. The e-commerce giant had been building its offering in the sector for years before the announcement. In 2018, it acquired online pharmacy PillPack. The news sent pharmacy giants CVS Health and Walgreens Boots Alliance down 8.6% and 9.6%, respectively. Both CVS and Walgreens were among the biggest decliners in the S&P 500. Walgreens was also by far the worst-performing component of the Dow Jones Industrial Average.  "Given Amazon Prime's vast user base and market leading delivery capabilities, there will clearly be potential for some market share shifts over time out of the traditional retail pharmacies." Goldman Sachs analyst Robert Jones wrote in a note. "That said we would note based on several in-depth case studies we previously performed, it typically takes several years before Amazon gains meaningful market share in new end-markets." The declines by drugstore stocks, coupled with disappointing U.S. retail sales data, led to the recent stock market rally cooling off Tuesday. The Dow slid more than 150 points for the average's first loss in three sessions. The S&P 500 pulled back by 0.5%. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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