(MENAFN- ProactiveInvestors) U.S. shares retreated after a government report showed that the economy grew at a much slower pace than expected during the first quarter. The S&P 500 (INDEXSP:.INX) slipped 0.5 percent to 2105 at 11:41 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) surrendered 0.4 percent to 18039 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) sank 0.5 percent to 5029. Most followed shares included Lumber Liquidators Mondelez Goodyear Tire & Rubber Panera Bread GoPro and .
() fell 5.8 percent to $39.83 after the micro-blogging website cut its full-year-forecast while reporting first-quarter revenue that missed Wall Street estimates due to sluggish demand for its new direct-response advertising.
() inched up 0.8 percent to $90.94 after the payment and card processing company reported a better-than-expected profit for the first quarter.
In consumer-discretionary stocks Lumber Liquidators (NYSE:LL) plunged 19 percent to $27.05 after the flooring products maker reported an unexpected 2 percent fall in sales so far in April and did not provide a full-year forecast. The Deerfield Illinois-based company said it has been advised that the Justice Department is seeking criminal charges against the company relating to the importation of certain products and that the DOJ probe will likely cost it about $10 million.
Mondelez International (NASDAQ:MDLZ) shot up 4.9 percent to $38.63 as the snack giant which owns brands including Oreo Nabisco Cadbury and Trident reported first-quarter profit and sales that beat expectations.
Goodyear Tire & Rubber (NASDAQ:GT) advanced 6.6 percent to $28.94 after the largest U.S. tire maker swung to a first-quarter profit that beat analyst expectations as strength in North America China and Latin America offset weak European results caused by currency fluctuations.
() added 0.5 percent to $85.42 after posting better-than-expected profit and revenue growth in its first quarter as March Madness programming helped drive audience growth in its Turner segment.
Panera Bread (NASDAQ:PNRA) slipped 1.9 percent to $182.05. T he restaurant chain missed estimates by 2 cents with adjusted quarterly profit of $1.41 per share with revenue also below Street estimates. Panera is experiencing higher expenses from its plan to invest in and update its stores.
() fluctuated. Kraft beat estimates by 5 cents with adjusted quarterly profit of 86 cents per share though revenue was slightly shy of forecasts. Sales were down in spite of price increases that were designed to offset higher commodity costs.
In energy shares () rose 0.7 percent to $77.25 even as the energy company reported that it would further reduce its capital expenditure as it swung to a loss because of the negative effect of lower gas prices. Earnings fell below expectations though revenue exceeded them.
() surged 7.9 percent to $0.750 even as the drilling contractor forecast a challenging year ahead as demand for its rigs remains weak with producers scaling backing drilling due to a slump in global oil prices.
In technology stocks GoPro () surged 12 percent to $52.67 as the world’s dominant maker of wearable video cameras used by surfers and others to record their exploits beat profit and revenue estimates.
(NYSE:TRI) wavered between gains and losses as the information provider’s first-quarter adjusted profits narrowly missed Wall Street expectations as a stronger U.S. dollar weighed on results but organic revenues rose due to increases in its legal and tax & accounting businesses.
In industrials () fell 4.5 percent to $50.07 after the biggest trash hauler in the U.S. swung to a loss because of divestitures lower recycling revenues lower fuel surcharges and the negative effect of the stronger dollar.
() gained 5.2 percent to $16.70 after swinging to a profit in its first quarter as cost cuts helped offset declining sales.
() fluctuated at $161.08 as the U.S. weapons maker reported a drop in first-quarter earnings but topped estimates and raised its full-year outlook.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.