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• Personal Income/Spending for April - Street expects down 0.2%

• Construction Spending for April - Street expects down 1.8%
• ISM Index for May - Street expects 42

Filed under: Analyst reports, Analyst upgrades and downgrades, Morgan Stanley (MS), Dow Chemical (DOW), Analyst initiations, Valero Energy (VLO)

Analyst upgrades:

Filed under: Earnings reports, Apollo Investment (AINV)

This post was written by Minyanville contributor Smita Sadana.

Apollo Group (Nasdaq: APOL) was enjoying a bump in price after reporting earnings that were well above estimates, based in increased enrollments. Of course, one can argue that people would go back to school for skill enhancement in these tough recessionary times.

However, two days after that stunning gain, APOL is off 4.9% to $82.55, on a cautious research note from Citron Research, who argue that "this growth is a one time bump."

Filed under: Earnings reports, Apollo Investment (AINV)

This post was written by Minyanville contributor Smita Sadana.

Apollo Group (Nasdaq: APOL) was enjoying a bump in price after reporting earnings that were well above estimates, based in increased enrollments. Of course, one can argue that people would go back to school for skill enhancement in these tough recessionary times.

However, two days after that stunning gain, APOL is off 4.9% to $82.55, on a cautious research note from Citron Research, who argue that "this growth is a one time bump."

Filed under: Rumors, Private equity, Market matters, Merrill Lynch (MER), Amer Intl Group (AIG), KKR Financial (KFN), Apollo Investment (AINV), Lehman Br Holdings (LEH), Blackstone Group L.P (BX), Cramer on BloggingStocks