US STOCKS-Wall St slips on weak economic data
* GDP revised to show economy contracted in Q1
* Consumer sentiment, PMI fall in May
* Humana hits record on takeover interest, insurers gain
* Altera hits 15-year high on report on Intel interest
* Indexes down: Dow 0.36 pct, S&P 0.24 pct, Nasdaq 0.11 pct (Updates prices)
By Sweta Singh
May 29 (Reuters) - U.S. stocks were lower in early afternoon trading on Friday, weighed by data that showed the economy contracted in the first quarter and as weak data for May added to concerns about the strength of a recovery.
The economy contracted at a 0.7 percent annual rate in the quarter, a sharp turnaround from an earlier estimate of growth of 0.2 percent.
Weak data on factory activity in the Midwest and consumer sentiment for May, suggested that the growth pace was modest early in the second quarter. That mirrored other recent soft data on retail sales and industrial production. Continuación...