Business

Snapshot: Missed forecasts worrying investors

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The stock market stalled Friday after the US economy didn’t grow as much as hoped and earnings from some big companies failed to rev up investors. The economy grew at a 2.5 percent annual rate in the first quarter. Investors have also been troubled by recent reports of weaker hiring, slower manufacturing, and a drop in factory orders. Earnings this past week also contained worrisome signs. Many companies missed analysts’ revenue forecasts, even as they reported higher profits. Of those that have reported, 70 percent have exceeded Wall Street’s expectations, compared with a 10-year average of 62 percent, according to S&P Capital IQ.

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