Deals
WebMD Scraps Talks on Sale of Medical Information Company
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WebMD Health Corp., the Internet provider of medical information, plunged the most in almost six months after saying it ended discussions on a possible sale of the company and the chief executive officer resigned.
WebMD dropped 29 percent to $26.25 at 4 p.m. New York time, its biggest drop since July 18. Net income will be “significantly lower” in 2012 as drugmakers buy fewer ads and competition from social networking sites increases, the New York-based company said in a statement today. Chief Financial Officer Anthony Vuolo will serve as interim CEO.