LITTLE ROCK, Ark. (Arkansas Business) -- There was less-than-expected economic growth in the U.S. putting a damper on stocks on Friday.
Disappointing U.S. economy growth
The government reporting that the U.S. economy grew by only 2.5 percent on an annualized basis during the first three months of the year.
That was a disappointment as consensus was for a rise of around 3 percent compared with the previous quarter's 0.4 percent.
The smaller-than-expected increase is likely to fuel concerns about the state of the world's largest economy.
Looking ahead, earnings season continues. On Wednesday, Murphy Oil Corp. of El Dorado is scheduled to report its quarterly earnings.
That company will report after the market closes.
Metropolitan National Bank turning another profit
Here in Arkansas, Metropolitan National Bank of Little Rock turning in another quarterly profit.
The privately held bank reported net income Friday of 662-thousand dollars in the first quarter of 2013.
It was the second straight quarter in the black for Metropolitan, and the first time that's happened since the first two quarters of 2008.
Its results were also up from a million-dollar loss in the first quarter of 2012.
Wal-Mart gearing up for annual shareholders meeting
And once again, Wal-Mart Stores Inc. of Bentonville, gearing up for its annual shareholders meeting.
This year's meeting takes place June 7 and, once again, will be at Bud Walton Arena on the University of Arkansas campus in Fayetteville.
So how much does the UA receive from Wal-Mart, which leases space for the big event?
According to Wal-Mart's recent proxy statement, that figure comes to about $962,000 for the one-day event.
In all, Wal-Mart paid about $2.3 million to the UA last year, which includes contributions and sponsorships.
Wal-Mart has to disclose these numbers in its filings because one of its executive officers, Jeffrey Gearhart, is the brother of UA Chancellor G. David Gearhart.