Healthcare and small-cap stocks slump. Qualcomm soars for a second day [Los Angeles Times (CA)]
International Business Machines Corporation (IBM)
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Source: Los Angeles Times
Healthcare and small-cap stocks slump. Qualcomm soars for a second day Stocks on Wall Street finished a wobbly day of trading Wednesday with modest losses that erased most of the market’s slight gains from a day earlier. A sharp sell-off in healthcare companies far outweighed gains in technology and other sectors. Smaller-company stocks fell more than the rest of the market. Insurers drove the healthcare-sector slide for the second straight day. Investors fear the potential impact on profits from health reform ideas being discussed in Washington and on the presidential campaign trail. Qualcomm led the gainers in the technology sector. Intel climbed after pulling out of the smartphone modem market. And T-Mobile and Sprint slumped on a report that the Justice Department is questioning their proposed merger . PepsiCo and Morgan Stanley rose after delivering better-than-expected quarterly results. IBM and Netflix fell after reporting their earnings . Investors are poring over earnings rep
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