U.S. stocks mixed as weak GDP, rising costs offset Microsoft gain

11:40 am ET Apr 27, 2007

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U.S. stocks mixed as weak GDP, rising costs offset Microsoft gain

NEW YORK
U.S. stocks were mixed on Friday, after news that the U.S. economy grew
at 1.3% pace in the first quarter, the weakest in four years and much
slower than expected, while a measure of employment costs showed
continued gains.

Currencies: Euro sets new record high vs. dollar after weak U.S. GDP

NEW YORK
The euro surged to a record high against the dollar above $1.3680
Friday, after a U.S. report showed the nation's economy slowed to a real
annualized growth rate of 1.3% in the first quarter, marking the weakest
expansion in four years.

Economic Report: U.S. economic growth slows to 1.3% pace in first
quarter

WASHINGTON
Hit by rising energy prices and a weak housing market, the U.S. economy
slowed to real annualized growth of 1.3% in the first quarter, the
weakest rate of expansion seen in four years, the Commerce Department
estimated Friday.

Microsoft shares up 4% on earnings, upgrades

SAN FRANCSICO
Microsoft Corp. saw its share price jump more than 4% Friday morning
after the software giant posted a 65% surge in profits for the third
fiscal quarter thanks to sales of new products such as the Vista
operating system.