For the Dow early Thursday, IBM and UnitedHealth are equal, opposing forces
A decline in shares of UnitedHealth Group Inc. UNH, -2.20% Thursday morning was producing the most severe drag on the blue-chip Dow Jones Industrial Average DJIA, -0.10% in early action. Shares of UnitedHealth were down 1.8%, or about $4.75 lower at $261.90, translating to a roughly 30-point drag on the price-weighted Dow. The company's shares had hit a low of $257.26 near the open, representing a drag of about 50 points on the Dow.
Capping the decline in the Dow was an advance in International Business Machines Corp., which was up 3.2%, delivering a roughly 30-point boost to the Dow. Meanwhile, the S&P 500 index SPX, +0.04% was off 0.1% at 2,981, with a 0.2% decline for the Nasdaq Composite Index COMP, -0.07% to reach 8,170. The losses for UnitedHealth come even as the health insurer reported better-than-expected quarterly results and lifted its full-year earnings outlook to $13.95 to $14.
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