US STOCKS-Wall St ends down with healthcare, IBM; United Tech jumps

martes 20 de octubre de 2015 16:34 GYT
 

* IBM slumps after results, outlook

* Verizon, Travelers, United Tech up after results

* Harley Davidson shares fall

* Indexes: Dow down 0.1 pct, S&P down 0.1 pct, Nasdaq down 0.5 pct (Updates to close)

By Caroline Valetkevitch

Oct 20 (Reuters) - U.S. stocks ended down slightly on Tuesday as a drop in healthcare and biotech stocks offset gains in United Technologies and Verizon.

A 5.7-percent drop to $140.64 in IBM also weighed on the market. The stock hit a five-year intraday low at $140.28 after it reported a bigger-than-expected fall in quarterly revenue and cut its full-year profit forecast.

The S&P healthcare sector fell 1.5 percent, while the Nasdaq Biotech Index dropped 3.2 percent. Concerns about drug pricing have hit biotech and other healthcare shares.

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