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IBM sends S&P 500, Dow lower; Nasdaq advances

Reuters  |  NEW YORK 

By Chuck MikolajczakNEW YORK (Reuters) - The S&P 500 and Dow closed lower and the Nasdaq advanced on Wednesday as investors digested the latest round of earnings, while a drop in oil prices weighed on the energy sector.IBM sank 4.9 percent to $161.69 after the company reported a bigger-than-expected decline in revenue for the first time in five quarters. The stock was the biggest drag on the S&P and the price-weighted Dow."Usually the bigger names are the bellwethers, people look to them for some signals on the overall health, and sometimes the companies that report later that beat are lost ...

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