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U.S. stocks declined, snapping a three-day rally for the Standard & Poor’s 500 Index, amid concern about Europe’s debt crisis as Greek leaders wrestled with spending cuts to get aid and avert a default.
European leaders stepped up pressure on Greek politicians to meet the conditions of a 130 billion-euro ($171 billion) bailout, saying time was running out. French President Nicolas Sarkozy met German Chancellor Angela Merkel in Paris today as Greece’s interim prime minister, Lucas Papademos, planned to confer with the so-called troika of international lenders in Athens. A gathering of Greek political leaders was delayed by a day until tomorrow as they struggled for a unified response.
Dow 12,828.14 -34.09 -0.27%, Nasdaq 2,902.63 -3.03 -0.10%, S&P 500 1,343.12 -1.78 -0.13%
Boeing (ВА) dropped 1.2 percent to $75.41. There is no “short- term safety concern” from the fault, which was caused by an incorrect assembly in a support structure within the plane’s aft fuselage, Scott Lefeber, a spokesman, said yesterday in a statement. The new checks add to the challenges in boosting output of the twin-engine 787, which entered service in 2011 after more than three years of delays.
Humana fell 6 percent to $84.73. The company says it may add about 40,000 more Medicare Advantage members in 2012 than previously expected. The increase will help overcome an anticipated increase in demand for medical services.
Micron retreated 2.6 percent to $7.74. The shares fell 3.1 percent to $7.70 in late trading Feb. 3, after having been halted at $7.95. Durcan, who joined Micron in 1984, had been scheduled to hand over his role as chief operating officer to Mark Adams in August. Adams, head of sales, was named company president.
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