US STOCKS-Wall St struggles for direction; healthcare, IBM fall

martes 20 de octubre de 2015 15:31 GYT
 

* IBM slumps after results

* Verizon, Travelers, United Tech up after results

* Harley Davidson shares fall to June 2013 low

* Indexes: Dow up 0.02 pct, S&P down 0.1 pct, Nasdaq down 0.5 pct (Updates to late afternoon)

By Caroline Valetkevitch

Oct 20 (Reuters) - U.S. stocks were flat to lower by late afternoon Tuesday as a drop in healthcare and biotech stocks offset gains in United Technologies and Verizon.

A 5.6-percent drop in IBM also weighed on the market. The stock hit a five-year low after it reported a bigger-than-expected fall in quarterly revenue and cut its full-year profit forecast.

The S&P healthcare sector fell 1.3 percent, dragged down by Allergan and Pfizer.

"You're seeing weakness in momentum names in general. Obviously the healthcare names are under pressure again, especially pharma companies," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.   Continuación...