Stocks Opened Lower, Dow and S&P Pulled Back

U.S. stocks declined at the open on Tuesday, losing a little steam after a four-session winning streak that’s carried the S&P 500 and Dow industrials to record levels. The Dow Jones Industrial Average lately shed 35.13 points, or 0.21%, to 16,907.97. The S&P 500 fell 3.56 point, or 0.18%, to 1,947.71. The Nasdaq Composite dropped 5.56 points, or 0.13%, to 4,330.69.

RadioShack Corp. said its fiscal first-quarter loss widened as the struggling retailer continued to suffer a decline in consumer electronics demand. The company posted a loss of $98.3 million, or 97 cents a share, compared with a loss of $28 million, or 28 cents a share, a year earlier. Revenue fell 13% to $736.7 million.

Best Buy Co. on Tuesday said its board approved a 12% increase to the big-box electronics chain’s
quarterly dividend. The retailer raised its quarterly payout by two cents to 19 cents, a move that will cost the company about an extra $28 million a year and boosts the yield to 2.6%, in line with Wal-Mart Stores Inc.’s 2.5% yield.

Internet company GoDaddy Inc. filed for its initial public offering and said it plans to use part of the proceeds from the IPO to repay debt and for general corporate purposes.

MetLife Inc. said it would resume share repurchases, intending to buy up to $1 billion, its latest effort to return capital to shareholders while it awaits word on whether it will be named a nonbank  systemically important financial institution.