Market cap stock movers: Oracle, Netflix slide on Friday

Health care stocks were decreasing Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding 0.2%.

The iShares Biotechnology ETF (IBB) fell 1.8%.

In corporate news, Walgreens Boots Alliance reported Friday better-than-expected fiscal Q1 results buoyed by sales growth across its divisions, and the drugstore chain reiterated its full-year earnings outlook amid a challenging US retail environment. Its shares jumped past 28%.

TransMedics shares were down 6.4% following a short seller report by Scorpion Capital, which called the company an "organ trafficking scheme masquerading as a medical device company."

Royalty Pharma shares jumped nearly 13% after the company said it would buy its external manager RP Management for about $1.1 billion, including 24.5 million in shares that will vest over five to nine years, about $100 million in cash, and the assumption of $380 million of debt.

By Connor Hart

Shares of NeoGenomics tumbled after the oncology testing-services company said its chief executive, Chris Smith, will retire April 1.

The stock fell 20%, to $14.91, in afternoon trading Friday. Shares are down 10% in the last 52 weeks.

Needham analysts attributed the drop primarily to investors' disappointment in Smith's retirement, given the company's strong performance under his leadership.

"We also think that there may have been a belief that (NeoGenomics) would be sold under his tenure given that he left his prior company, Ortho Clinical Diagnostics, after it was sold to QuidelOrtho," they wrote.

Instead, Tony Zook, an independent board member since 2023, will succeed Smith as CEO, also effective April 1. He most recently served as a partner with specialized healthcare consultancy Lucius Partners.

Needham analysts said Smith is leaving NeoGenomics in a healthier position than when he started, and that they believe Zook can sustain its recent performance. "We view today's selloff as an overreaction and recommend buying shares on today's weakness," they write.

Write to Connor Hart at connor.hart@wsj.com

Consumer stocks were retreating Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 1.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.4%.

In corporate news, Constellation Brands shares dropped 16% after it reported fiscal Q3 results that fell short of market expectations.

Delta Air Lines reported better-than-expected Q4 results on Friday amid robust travel demand while the carrier said it expects full-year earnings growth of over 10%. Its shares jumped 9%.

Walt Disney's ESPN, Fox , and Warner Bros. Discovery said Friday that they will not launch their planned Venu Sports streaming service. Disney shares were down 0.5%, Fox dropped 1.6%, and Warner Bros. Discovery slipped 5%.

Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index up 0.5% and the Energy Select Sector SPDR Fund (XLE) rising 0.6%.

The Philadelphia Oil Service Sector index was adding 0.4%, and the Dow Jones US Utilities index was shedding 1.1%.

In sector news, the US plans to sanction 180 tankers, dozens of oil traders, two oil companies, and some oil executives in Russia, Reuters reported, citing a document circulating among traders in Asia and Europe whose veracity the news agency "could not verify."

Front-month West Texas Intermediate crude oil jumped 3.2% to $76.28 a barrel, and the global benchmark Brent crude contract spiked 3.2% to $79.41 a barrel. Henry Hub natural gas futures surged 6.8% to $3.95 per 1 million BTU.

In corporate news, Constellation Energy agreed to buy privately held energy company Calpine in a cash-and-stock deal for a net price of $26.6 billion, including debt. Constellation shares surged more than 26%.

Edison International's Southern California Edison unit said that no fire agencies have suggested that its equipment was involved in the Eaton Fire in Los Angeles. Edison International shares were down 5.1%.

Kinder Morgan temporarily shut down its SFPP West and CALNEV fuel pipelines in Los Angeles on Jan. 8 due to power outages caused by the wildfires, Reuters reported. Kinder Morgan shares were 0.1% higher.