Closing Bell: Wall Street Closes Lower After First Quarter Earnings Drag Down Markets

Stocks closed lower after digesting mixed first quarter earnings data.

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.