Altera Leads S&P 500 on Deal Talk; Stocks Kick Off May With Rally

Altera (ALTR) was the best performer on the S&P 500 on reports Intel (INTC) could launch a hostile bid once a standstill agreement expires on June 1st.
Author:
Publish date:

Altera (ALTR) was the best performer on the S&P 500 on reports Intel (INTC) could launch a hostile bid once a standstill agreement expires on June 1st. Wall Street enjoyed a solid start to May as stocks rebounded following a tech and biotech sell-off a day earlier. First Solar (FSLR) lagged the S&P 500 after reporting a quarterly net loss nearly double expectations. Revenue tanked 50% from a year earlier. Home Depot (HD) was the best performer on the Dow, caught up in a broad-based rally that boosted all sectors. Chevron (CVX) was the worst performer after reporting significantly lower quarterly revenue due to plunging oil prices.