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Stocks waver in midday trade; IBM weighs on Dow average

Stocks are wavering between small gains and losses as some weak earnings reports weigh on the market.

IBM sank 6 percent Tuesday after the company reported that its revenue fell for the 14th quarter in a row.

Harley-Davidson plunged 15 percent after reporting a drop in profit and cutting its forecasts for motorcycle shipments.

Pizza Hut and KFC owner Yum Brands gained 4 percent after saying it would spin off its struggling China business.

The Dow Jones industrial average slipped 18 points, or 0.1 percent, to 17,211 as of 11:45 a.m. Eastern time.

The Standard & Poor’s 500 gave up a point to 2,032. The Nasdaq composite edged down 13 points, or 0.3 percent, to 4,891.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent.


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