Wall Street's old saw "Sell in May and go away" cut no ice with
investors this year, perhaps not surprising since tool titan
Stanley Black & Decker
) was just
taken down a notch
(^DJI) advanced a lucky 21 points and are poised to round out a
surprisingly strong month.
Some stocks did buck a broadly higher tape, however.
) was the worst performing blue chip, dropping 1.05% after
) - which
rated Enron investment grade
until essentially the bitter end - cut the company to junk. Pig
) gave back 1.83% as an analyst, on the
birthday of Porky Pig
, decided "
That's all folks!
", opting to
cut the shares
after the prior session's 28.42% surge.
(FB) - whose
CEO could always work in a hog abattoir
if this social networking thing doesn't take off - rose an
impressive 5.27% on a
This morning in economics, analysts expect improvements in the May
Chicago Purchasing Managers' index at 9:45 a.m. Eastern and this
month's University of Michigan consumer sentiment survey at 9:55
a.m. On the corporate front,
(GHM) are the pick of a quiet day for earnings announcements.
(AON): The insurance outfit is cut to Market Perform from
Outperform at Keefe Bruyette due to valuation issues.
Canadian Imperial Bank of Commerce
(CM): Bank of America-Merrill Lynch lowers the financial firm to
Neutral from Buy.
Charles River Laboratories
(CRL): The stock gets lowered to Underperform from Market Perform
at Raymond James.
(MLNX): Shares are taken to Neutral from Buy at UBS.
(MYGN): Jefferies cuts the company to Hold from Buy.
(PNRA): Lazard lowers the stock, which traded at an all-time high
yesterday, to Neutral from Buy.
): A plump Price:Earnings multiple sees BMO Capital reduce its
rating to Underperform from Market Perform.
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