WS #16922
Healthcare distribution and consumer staples are showing resilience amid the broader tech selloff. Cardinal Health beat top-line and bottom-line estimates and raised its full-year outlook, while Tapestry also beat estimates with strong revenue growth. Planet Fitness similarly updated its outlook positively. These results suggest that defensive sectors and companies with pricing power are attracting capital rotation away from high-growth tech names.
Healthcare & Consumer Resilience
Healthcare distribution and consumer staples are showing resilience amid the broader tech selloff. Cardinal Health beat top-line and bottom-line estimates and raised its full-year outlook, while Tapestry also beat estimates with strong revenue growth. Planet Fitness similarly updated its outlook positively. These results suggest that defensive sectors and companies with pricing power are attracting capital rotation away from high-growth tech names.