The Dow Jones Industrial Average on Wednesday morning was wrestling with sharp declines in IBM and Johnson & Johnson. Shares of International Business Machines Corp. were off 7.2%, or about $11.50, which equates to a drop of about 80 points, while J&J's stock was contributing a further 24-point retreat in the benchmark, down 2.7%, or about $3.50, in recent action. Overall, the Dow was still managing to rise by about 24 points, or less than 0.1%, at 24,802, with J&J and IBM's tumble slightly offset by gains in Home Depot Inc. Caterpillar Inc. and Boeing Co. stocks. A $1 move in any one of the price-weighted Dow's 30 components equates to a swing of 6.89 points in the blue-chip average. The decline in IBM comes after the company reported first-quarter results late-Tuesday, with analysts saying that gains were driven by a one-time tax benefit. Separately, J&J's decline came amid a pair of downgrades from research firms. The New Brunswick, N.J.-based pharmaceutical company reported higher-than-expected sales in its latest quarter and boosted its sales outlook.