U.S. stocks fell on Friday, with the Nasdaq Composite posting a third weekly gain, as investors considered results from companies including Intuit and another downbeat economic report, this one on housing.
Economic activity is "borderline bad, when you look at China and some of the data out of the United States. Everybody is blaming the weather, but we won't know for another month or two, when the snow melts and you start to see all the garbage underneath," said Paul Nolte, a senior vice president and portfolio manager at Kingsview Asset Management.
Intuit rose after that software maker posted second-quarter profit that topped expectations. Amazon.com fell after the Wall Street Journal cited people familiar with the matter in reporting the online retailer had discussions on whether to add brands including Ralph Lauren.
Hewlett-Packard erased gains that came after the maker of personal computers reported sales and profit that beat estimates. Priceline.com also posted results that topped expectations. Groupon fell after the deals website offered a profit outlook below expectations.