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Top 3 Business Stories of the Day

Google Inc's disappointing first-quarter results left Wall Street unfazed about the internet giant's ability to come to grips with a shift to the fast-growing mobile advertising market. Google shares were down 2 percent in premarket trading on Thursday and at least 12 brokerages cut their target price on the stock. But most analysts kept their "buy" rating on the stock. RBC Capital analyst Mark Mahaney, who kept his "outperform" rating on the stock, said in a note to clients, "Despite an expectations-miss quarter, Google remains one of the best-positioned stocks for many of the secular growth drivers in the Internet space." Walmart has unveiled a new store-to-store money transfer service launching later this month, aimed at helping its customers send cash to loved ones and directly competing with outfits like Western Union. ‘Walmart-2-Walmart’ will be operated by Ria Financial Services, a subsidiary of long-established electronic payments company Euronet. “Walmart-2-Walmart offers a clear fee structure with just two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50,” said Daniel Eckert, senior vice president of services for Walmart, on a call to investors, analysts and press on Thursday morning. Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.27 percent from 4.34 percent last week. Mortgage rates have risen about a full percentage point since hitting record lows about a year ago. Many analysts have been expecting an improving economy to lift the housing market, which has been recovering over the past two years.

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