Stocks Ended Lower on Growth Worries

U.S. stocks fell for a second day on Thursday and the S&P 500 posted its worst 2-day loss since November after reports cast doubt over the health of the U.S. and euro-zone economies.  The Dow Jones Indusrial Average fell 46.92 points, or 0.34%, to 13,880.62. The S&P 500 index shed 9.53 points, or 0.63%, to 1,502.42. The Nasdaq Composite declined 32.92 points, or 1.04%, to 3,131.49.

Hewlett-Packard Co posted a 6 percent drop in fiscal first-quarter revenue of $28.4 billion, but it beat Wall Street expectations in a flat to shrinking personal computing market.

Insurer American International Group Inc reported a fourth-quarter loss of $4 billion on Thursday on the sale of its aircraft leasing business, ILFC. AIG posted a net loss of $4 billion, or $2.68 per share, compared with a year-earlier profit of $21.5 billion, or $11.31 per share. On an operating basis, AIG posted a profit of $290 million for the quarter.

Chipmaker Marvell Technology Group Ltd’s quarterly profit fell 38 percent on lower sales to hard drive makers as PC sales declined. Net income fell to $50 million, or 9 cents per share, in the fourth quarter ended February 2 from $81 million, or 13 cents per share, a year earlier. Excluding items, it earned 19 cents per share. Revenue rose 4 percent to $775 million.

Coca-Cola Co. (NYSE:KO) , citing the board’s confidence in the beverage company’s long-term cash flow, announced Thursday it is raising its quarterly dividend 10% to 28 cents a share from 25.5 cents. The move lifts its annual 2013 dividend payout to $1.12 a share from $1.02.

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