Wall Street closed in the red as mixed earnings results dragged markets lower. Goldman Sachs' (GS) first-quarter earnings came up short, and Johnson & Johnson's (JNJ) revenue missed forecasts. The financial and health care sectors pulled markets lower. Bank of America's (BAC) first-quarter profit topped analysts' forecasts. The bank's shares fell most of the day after posting earnings of 41 cents a share, beating estimates of 35 cents. Revenue of $22.25 billion topped analysts' estimates of $21.61 billion and was higher than a year earlier. Results at the bank were buoyed by rising interest rates. UnitedHealth Group (UNH) shares rose almost 1% after the health insurer reported first-quarter revenue of $48.7 billion and adjusted earnings of $2.37 a share. It also raised its annual revenue outlook to $200 billion. Finally, GNC (GNC) shares jumped more than 24% after the company reported adjusted earnings of 37 cents a share, beating FactSet estimates of 34 cents. Revenue of $644.8 million also came in above expectations.
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