U.S. stocks shook off the dour end to April to spring higher on the first trading day of the new month. Benchmark indexes closed near session highs as a surge in consumer stocks managed overshadowed more weakness in the energy sector. Groupon
(GRPN - Get Report)
fell after RBC Capital downgraded the stock to UNDERPERFORM from SECTOR PERFORM and cut its price target to $3 from $4. Analysts said they are seeing few signs of a turnaround in fundamentals at the online coupon site. Baidu
(BIDU - Get Report)
slumped after China's internet regulator announced it will investigate the search engine for possibly promoting false medical information. Brocade
(BRCD - Get Report)
tumbled after slashing its second-quarter earnings and sales forecasts. TheStreet's Keris Lahiff has details from Wall Street.