Stocks Opened Lower ahead of Factory Orders

U.S. stocks opened lower on Tuesday as investors await a report on orders for goods to factories and assess monthly car sales, which will provide more information on consumer spending. The Dow Jones Industrial Average lately fell 49.95 points, or 0.30%, to 16,693.68. The S&P 500 was down 4.38 points, or 0.23%, to 1,920.59. The Nasdaq Composite lost 8.50 points, or 0.20%, to 4,228.70.

Hillshire Brands Co. on Tuesday said it would hold separate talks with Pilgrim’s Pride Corp. and Tyson Foods Inc., which have each offered to buy the maker of Jimmy Dean sausage and Sara Lee desserts.

Chrysler Group LLC reported May sales that rose 17 percent after its Ram truck and Jeep sport-utility vehicle brands led the Fiat SpA-owned company to a 50th consecutive monthly increase. Sales topped analysts’ estimates.

AT&T Inc. (T) on Tuesday raised its 2014 revenue outlook to growth of 5%, citing strong second-quarter wireless trends. The company affirmed its outlook for stable margins, adjusted earnings per share growth at the low end of the mid- single digits range, capital expenditures in the $21 billion range and free cash flow in the $11 billion range. AT&T will report second-quarter earnings on July 23.