Most likely explanation is the Obama healthcare plan.
Baxter's getting creamed. Covidian down. Medtronic, Bard, all losing money. The whole medical supplies sub-sector.
I don't ask everyone to agree with President Obama about everything he's done or is going to do. But the ruthless panic of day traders is really sickening. Banks offering jumbo mortgages to the unemployed wasn't even the slightest problem for traders. But President Obama trying to extend healthcare coverage to the poor--something that will drastically INCREASE these companies' customer bases IF it even happens!--is panic-inducing. These traders should never have been granted brokerage accounts in the first place, because the fact is is that between the things they approve and the things that make them panic, THEY are causing great harm in this country.
All right, I'm off my soap box now. Last thing I'll mention is that day traders are selling Baxter into 104-week lows right now. I would presume that means that they're not actually prospering from their contemptuous behavior.