LITTLE ROCK, Ark. (Arkansas Business) -- Lackluster earnings reports from several companies including Coca-Cola and Charles Schwab ending the eight-day winning streak for the S&P 500 index.
Coca-Cola, the world's largest beverage maker, fell after the company said it sold less product in its home market of North America.
And retail brokerage Charles Schwab's second-quarter earnings fell short of what analysts were expecting. That left the Dow, S&P and Nasdaq all down.
In all, eight of the 10 industry groups in the S&P 500 fell. Phone companies and technology companies were the two groups that gained.
Baptist Health laying off 170 across network
Here in Arkansas, more layoffs; this time, Baptist Health of Little Rock cutting 170 of its workers across its network of health care centers in Little Rock, North Little Rock and Arkadelphia.
In a statement, Baptist said the layoffs should be complete by the end of the week. Baptist Health spokesman Mark Lowman telling Arkansas Business that the cuts will -quote- "not impact the quality of clinical patient care" and will target workers who aren't nurses.
Lowman wouldn't comment on the layoffs beyond a statement, but said they come as Baptist works to address the challenges of health reform and severe federal budget cuts.
He said the hospital has worked to reduce nonsalary expenses and gain efficiencies throughout its operations.
He also cited, quote, "a difficult and challenging environment of substantially less government reimbursement, burdensome government regulations, rapidly rising costs of supplies, increasing charity care and bad debt, and the need for technology and medical innovations.
In all, Baptist Health has about 7300 workers.
St. Vincent opening new medical clinic on Aug. 1
And in other hospital news, St. Vincent is marketing the grand opening of its new Medical Clinic in Hot Springs Village Tuesday. The clinic will being seeing patients on Aug. 1.
Dr. Marcus Chu, a native of Helena, will lead the primary and specialty care clinic, which will also offer specialty health services including cardiology and orthopaedics.