Closing Bell: RBC Dumps Groupon; U.S. Stocks Close Near Session Highs

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) tumbled after slashing its second-quarter earnings and sales forecasts. TheStreet's Keris Lahiff has details from Wall Street.