Alphabet, Microsoft weigh on tech

Stocks (^DJI, ^GSPC, ^IXIC, ^RUT) close the day on a mixed note, with the tech sector falling sharply. With huge reports on the way next week, should investors be concerned? Yahoo Finance's The Final Round streams live each day at 4 p.m.

Joining Yahoo Finance's Jen Rogers to discuss some of the other big stories of the day are Yahoo Finance editor-in-chief Andy Serwer, Zachary Karabell of Envestnet, and Greg Taxin of Luma Asset Management.

Earnings

After a good start to the week, stocks fall flat as earnings season gets underway. Google and Microsoft stock got hit after releasing earnings. Global growth name Caterpillar slashed its 2016 outlook today, while McDonald's announced comp sales are up 5%.

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Winners and Losers

Stocks finishing the week on a high note include:

• chipmaker AMD on strong current quarter revenue guidance

• Norfolk Southern after blowing past profit estimates

• Valeant on reports it will hire Perrigo chief executive Joseph Papa as its new CEO

Stocks getting hit today include:

• Sam Adams brewer Boston Beer on a bad profit miss

• Starbucks, the world's largest coffee chain, as sales missed forecasts

• Royal Caribbean after it revealed it had to cancel 13 sailings of one of its ships due to renovations

Looking ahead

Here's what will be making headlines next week:

• We'll get huge tech earnings reports starting with Apple on Tuesday, Facebook on Wednesday, and Amazon.com on Thursday.

• On Wednesday, the Fed will release its policy statement and intrerest rate decision from its April meeting. The Fed is expected to keep things as is, for now.

• We'll also get a first read on GDP data for the first quarter on Thursday. Economists are looking for a figure close to the 1.3% consensus estimate.

• And Berkshire Hathaway will hold its annual shareholder meeting next week—and you can watch the entire event live, exclusively on Yahoo Finance next Saturday at 10 A.M. Eastern. Check out finance.yahoo.com/BRKLivestream.