What We're Reading: Mental Health Day; Dropping Healthcare Stocks; Merck CEO Leaves Council

Employers Encourage Mental Health

More companies are trying to destigmatize mental illness and encourage workers to take off for their own mental health. According to The Wall Street Journal, initiatives offering free counseling, access to mental health professionals at the office, and flexible work arrangements are popping up at some big employers. Unfortunately, most workers with a mental illness keep it a secret at work, with a large majority of people not telling employers that they have depression even though the law protects them from losing their jobs.

Hedging Against Healthcare Stocks

Hedge funds are selling shares in healthcare stocks even as the stock market continues to climb. Since the beginning of the current quarter, healthcare stocks have underperformed, reported Reuters. The quarter began in July 1, shortly after Senate Republicans delayed a vote on a healthcare bill and ultimately did not pass a plan to repeal and replace the Affordable Care Act. Uncertainty over the future of healthcare may have dimmed investors’ enthusiasm for the sector.

Merck CEO Quits Presidential Council

A total of 3 CEOs left the presidential business council on Monday. The departures were kicked off by an announcement from Kenneth C. Frazier, the CEO of Merck, that he was leaving the business council, according to The New York Times. By the end of the day, Kevin Plank of Under Armor and Brian Krzanich of Intel had followed suit. The president responded to Frazier’s decision by tweeting at him that he should spend more time lowering “ripoff drug prices.”