U.S. stocks fell, after the Dow Jones Industrial Average reached its highest level ever, as a report showed industrial production in China expanded at the slowest pace since 2009. Dick’s Sporting Goods Inc. (DKS) tumbled 7.1 percent after forecasting profit that was less than analysts estimated. Kroger Co. (KR) dropped 1 percent and Apple Inc. lost 1.1 percent after analyst downgrades. Best Buy Co. climbed 0.5 percent as its rating was raised by a Piper Jaffray analyst. The Standard & Poor’s 500 Index (SPX) slipped 0.2 percent to 1,547.89 at 9:44 a.m. in New York. The Dow lost 17.94 points, or 0.1 percent, to 14,379.13. Trading in S&P 500 stocks was 25 percent lower than the 30-day average. “There’d be no surprise if people are just trying to digest and take a little bit of profit here,� Christopher McHugh, who helps manage about $10 billion at Turner Investment Partners in Berwyn, Pennsylvania, said in a phone interview. “Earnings will come in focus over the next few weeks again as we come through the end of the quarter,� he said. “We want to get off to a good start to complement the good gains of the market.� The equity gauge rallied 2.2 percent last week amid better- than-forecast jobs growth and as investors speculated that central banks will continue with stimulus measures. The S&P 500 is about 1 percent below its record and the Dow is at an all- time high. China Output China’s industrial production increased 9.9 percent in the first two months of the year, less than the 10.6 percent gain projected in a Bloomberg survey, government data showed March 9. Retail sales rose 12.3 percent, also trailing economists’ estimates, separate figures showed. In the euro area, German exports rose more than economists forecast in January, data showed. Exports, adjusted for working days and seasonal changes, advanced 1.4 percent from December, compared with the median estimate in a Bloomberg survey for a 0.5 increase. Dick’s Sporting Goods tumbled 7.1 percent to $47.01. Profit in the current fiscal year may be $2.84 to $2.86 a share, the Coraopolis, Pennsylvania-based company, which ended its previous fiscal year on Feb. 2, said today in a statement. Analysts projected $2.92, the average of 29 estimates in a Bloomberg survey. Kroger, which operates locations under the Ralphs, Food 4 Less and Dillons names, slipped 1 percent to $30.86. Hilliard Lyons cut its recommendation on the stock to long-term buy from buy, with analyst Jeffrey Thomison saying the company’s earnings this year “will face a difficult comparison� with the growth reported last year. The shares have advanced 20 percent so far this year. Apple Sinks Apple (AAPL) lost 1.1 percent to $426.96. The shares were downgraded to outperform from buy by Credit Agricole Securities equity analyst Avi Silver. Best Buy rallied 0.5 percent to $20.26. Piper Jaffray analyst Peter Keith raised his rating on the retailer to overweight from neutral. Best Buy’s new management is in the “very early stages of a multi-year turnaround process that could drive substantial improvement� to operating margins and earnings per share, Keith wrote in a note. Genworth (GNW) Financial Inc. soared 6.6 percent to $10.49. The provider of life insurance and mortgage securities may almost double in the next year as a new chief executive officer seeks to improve results at the recently reorganized mortgage and health-care insurer, Barron’s reported. To contact the reporters on this story: Sarah Pringle in New York at springle1@bloomberg.net; Sofia Horta e Costa in London at shortaecosta@bloomberg.net To contact the editors responsible for this story: Andrew Rummer at arummer@bloomberg.net; Lynn Thomasson at lthomasson@bloomberg.net

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