Wall Street opens lower as Greek talks drag on

NEW YORK — Stocks are edging lower in early trading Monday as talks dragged on between Greek political leaders over a fresh austerity package required for the country to get more bailout loans.

The Dow Jones industrial average fell 42 points to 12,822 in the first half-hour of trading. That's a drop of 0.4 percent. Boeing Co. led the Dow lower, falling 1.2 percent following reports that the company found a problem in its 787 Dreamliner.

The Standard & Poor's 500 index fell 3 points to 1,341. The Nasdaq composite fell 7 points to 2,898.

The declines follow a big gain Friday after a surprisingly good U.S. employment report.

Greece's Prime Minister Lucas Papademos will meet with negotiators from the European Union and the International Monetary Fund in the afternoon and then with the leaders of the three parties backing his coalition government. The Greek parliament must sign off on any budget deal.

Among companies making big moves:

— Netflix Inc. fell 2.7 percent after Verizon Communications and Coinstar Inc. said they will launch a video-streaming service later this year, a challenge to Netflix. Coinstar is the parent of Redbox, a DVD rental company. Coinstar rose 1.2 percent and Verizon less than 1 percent.

— Micron Technology Inc. fell 2.3 percent following news that the chip maker's CEO died in a plane crash. Steve Appleton, 51, was at the helm for 18 years, leading the only company he'd ever worked for.

— Humana dropped 4 percent, the biggest loss in the S&P 500 index. The health insurance company reported revenue that fell short of analysts' expectations. Humana also raised its earnings outlook for 2012 but that, too, was below analysts' forecast.