Around the World's Markets: New York

US STOCKS were mixed, with worries about earnings in the pharmaceutical sector outweighing gains in computer stocks. Computer stocks, including IBM, recorded sharp increases after a report revealed worldwide shipments of PCs rose 19 per cent in the first quarter.

Despite IBM's gains, the Dow Jones was treading water at midday. Investors were concerned the pharmaceutical giant Merck was losing market share to a rival.