On The Fly: Top stock stories for Monday

Stocks had a muted initial reaction during late trading on Friday as news crossed that the American Health Care Act bill, meant to repeal and replace Obamacare, would not pass a vote and was being pulled, though the averages fell at the open today in an apparent delayed reaction. In the early going it seemed that confidence in the Trump rally may be dented by the AHCA setback and the market might pull back further, but the averages gathered themselves relatively quickly and began to claw back their losses steadily throughout the session. In the end, the S&P and Dow registered only small declines and the Nasdaq actually finished the trading day with a modest gain. ECONOMIC EVENTS: In the U.S., the Dallas Fed's manufacturing index dropped 7.6 points to 16.9 in March after rising 2.4 points to 24.5 in February, which was the highest since April 2006. COMPANY NEWS: Several hospital names - including Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS) - ended higher after the embattled health care bill seeking to replace the Affordable Care Act was pulled by Republicans as it became clear that it would be defeated in the House. President Trump has since said that his administration is moving onto other issues such as tax reform... Snap (SNAP) gained 4.75% to close at $23.83 after several Wall Street analysts started coverage of the stock with buy-equivalent ratings. This follows what has been mostly bearish calls on Snapchat's parent since its IPO earlier this month. MAJOR MOVERS: Among the notable gainers was Impax Laboratories (IPXL), which jumped 37% after the company announced that its Board of Directors has appointed Paul Bisaro, formerly of Allergan (AGN), as President, CEO and a member of the company's board. Also higher was EXACT Sciences (EXAS), which gained 9% after Aetna (AET) published an updated colorectal cancer screening policy which now includes coverage of the company's Cologuard test. Additionally, Weatherford International (WFT) rose 8% after the company announced a joint venture with Schlumberger (SLB). Among the noteworthy losers was G-III Apparel (GIII), which fell 14% after a wider than expected earnings miss and weaker than expected outlook. Also lower was Sealed Air (SEE), which slipped 2.5% after the company announced plans to sell its Diversey Care division and the food hygiene and cleaning business within its Food Care division to a private equity firm for about $3.2B. Additionally, Wageworks (WAGE) declined nearly 6% after Wells Fargo analyst Jamie Stockton downgraded the stock to Market Perform, saying the failure to repeal/replace the Affordable Care Act should take away some of the stock's premium valuation. INDEXES: The Dow fell 45.74, or 0.22%, to 20,550.98, the Nasdaq gained 11.64, or 0.2%, to 5,840.37, and the S&P 500 declined 2.39, or 0.1%, to 2,341.59.