Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer's drug.
Stocks fell at the open Tuesday as the 10-year Treasury yield spiked following retail sales data and bank earnings, raising concerns over more rate hikes. Investors are also keeping an eye on tensions in the Middle East and its potential effect on global markets.
Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits.
