News Summary: Stocks stall as growth disappoints

AP News
Posted: Apr 26, 2013 4:59 PM

NOT SO FAST: The stock market sputtered Friday after the U.S. economy grew at a slower pace than hoped. Some argued that weaker growth would ensure the Federal Reserve sticks with its easy-money policies.

EARNINGS BEAT, REVENUES MISS: More than half the companies in the Standard & Poor's 500 index have reported first-quarter earnings. While most are beating analysts' estimates for earnings, less than half are exceeding expectations for revenues.

AMAZON HIT: The online retailer dropped 7 percent after its sales forecast disappointed investors. Amazon has been spending heavily on its distribution network, its website and Kindle business as part of a long-term growth plan.