US STOCKS-Wall Street ends down with healthcare, IBM; United Tech rises

Tue Oct 20, 2015 5:07pm EDT
 
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* 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 with Yahoo down after the close)

By Caroline Valetkevitch

Oct 20 (Reuters) - U.S. stocks ended slightly lower on Tuesday as a decline 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 decline 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.   Continued...