(By Balachander) U.S. stocks closed on a mixed note after a data showed the economy grew at a slower-than-expected rate in the first quarter.
The S&P 500 Index ended 0.18 percent lower at 1,582.24. The Dow Jones Industrial Average rose 0.08 percent to finish at 14,712.55. The Nasdaq Composite Index fell 0.33 percent to close at 3,279.26.
A report from the Bureau of Economic Analysis showed U.S. GDP grew at an annual rate of 2.5 percent in the first quarter, though expectations were for a growth of 3.0 percent. In the fourth quarter, real GDP increased 0.4 percent.
In other data, the University of Michigan consumer sentiment index fell to a three-month low to 76.4 in April from a final March reading of 78.6, while economists expected a reading of 73.5.
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Amazon.com Inc. (NASDAQ: AMZN) tumbled 7.24 percent after the online retail giant issued a downbeat sales guidance for the second quarter following lower first-quarter earnings.
Baidu.com Inc. (NASDAQ: BIDU) tumbled 7.93 percent after the Chinese Internet giant posted first-quarter earnings that trailed market expectations. Brean Capital LLC downgraded the stock to "Hold" from "Buy".
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J.C. Penney Co. (NYSE: JCP) jumped 12.07 percent after billionaire investor George Soros disclosed a 7.91 percent stake in the department-store chain.
Altera Corp. (NASDAQ: ALTR) shed 5.25 percent after the maker of programmable logic devices posted weaker-than-expected sales for the first quarter.
Expedia Inc. (NASDAQ: EXPE) slumped 9.87 percent after the online travel company reduced its organic EBITDA forecast, citing weakeness at its discount travel website Hotwire.
D.R. Horton Inc. (NYSE: DHI) jumped 8.85 percent after the homebuilder posted a sharp rise in second-quarter earnings as homebuilding revenue jumped 49 percent.
KLA-Tencor Corp. (NASDAQ: KLAC) lost 6.78 percent after the equipment maker for semiconductor industry posted a double-digit decline in third-quarter earnings and sales.
Theravance Inc. (NASDAQ: THRX) gained 9.96 percent after the biopharmaceutical company announced plans to separate its businesses into two independent publicly traded companies.
Freescale Semiconductor Ltd. (NYSE: FSL) surged 8.26 percent after the chipmaker reported better-than-expected quarterly results.
Synaptics Inc. (NASDAQ: SYNA) jumped 8.93 percent after the Santa Clara, California-based maker of touchscreen posted stronger-than-forecast third quarter results and gave an upbeat revenue forecast.
LogMeIn Inc. (NASDAQ: LOGM) spiked 21.33 percent after shares of the provider of cloud-based services were upgraded to "Outperform" from "Neutral" at Cowen following its quarterly results and guidance.
European markets closed lower, with Germany's DAX down 0.23 percent to close at 7,814.76. France's CAC40 finished 0.79 percent lower at 3,810.05. The U.K.'s FTSE 100 fell 0.25 percent to end at 6,426.42.
Asian markets closed mixed. The Shanghai Composite Index fell 0.97 percent to end at $2,177.91. Japan's Nikkei 225 fell 0.30 percent to finish at 13,884.13. Hong Kong's Hang Seng Index rose 0.65 percent to close at 22,547.71. India's BSE Sensex finished at 19,286.72, down 0.62 percent.
Commodity & Currency Scan
Crude oil futures fell 0.78 percent to $92.91 per barrel and natural gas futures dropped 0.36 percent to $4.15 per million metric British thermal units. Gold futures declined 0.45 percent to $1,455.40 per ounce and silver futures lost 1.21 percent to $23.89 per ounce.
In the currency market, the euro advanced 0.17 percent against the U.S. dollar to 1.3033. The British pound added 0.32 percent against the greenback to 1.5484, while the dollar retreated 1.18 percent against the Japanese yen to 98.0900.