Altera Jumps on Intel Deal; Stocks Seal Positive Start to June

Altera (ALTR) was the best performer on the S&P 500 Monday after Intel (INTC) agreed to purchase the chipmaker for $16.7 billion. Intel investors weren't nearly as impressed by that deal. Intel was the worst performer on the Dow. Juniper Networks (JNPR) was the worst performer on the S&P 500. That was after MKM Partners downgraded the company to sell, arguing that the company is unlikely to be acquired and that current estimates are too high. Stocks closed their first day of June trading in the green, posting modest gains as a range of data from manufacturing to personal incomes underlined recent signs of a strengthening economy.