Market Wrap: Einhorn Gets Tough on Herbalife; Manufacturing, Smiles Up; DJIA Hits 4-Year High; RIMM's BB10 is Here!

Market wrap-up for May 1st

End of the Day: Dow Jones up 65.7 to 13,279.32; Nasdaq up 4.1 to 3,050.44; S&P 500 up 7.9 to 1,405.82

The following is a brief summary of events moving markets today:

• Maybe throw away the "DJ10K" hats now?: After eking out a positive result for April, the Dow Jones Industrial Average closed at its highest point in four years. We'll give you a second to read that again. At 13,279.32, that's its best level since December 28th, 2007. Stocks moved higher on manufacturing data (highlighted more below), as well as BofA's (NYSE: BAC) plans to cut jobs and a little bit of M&A.
  
  
• U.S. Auto Sales for April:
  • General Motors (NYSE: GM) - down 8.2 percent
    
  • Chrysler - up 20 percent
    
  • Toyota (NYSE: TM) - up 11.6 percent
    
  • Ford (NYSE: F) - down 5.1 percent
• Herbalife - the perfect seasoning for your next cookout!: Herbalife (NYSE: HLF) took a flogging mid-day Tuesday following the earnings conference call in which Greenlight Capital's David Einhorn got a chance to ask a question. Generally, that's probably bad news for executives. Einhorn didn't fail to entertain this time around, grilling Herbalife executives on their business structure and sales disclosures. For more color, click here.
  
  
• Light 'em if you got 'em...nat gas wells, that is: Chesapeake Energy (NYSE: CHK) agreed to terminate the Founder Well Participation Program early and announced that Aubrey McClendon will relinquish his role as Chairman. The Program will now terminate on June 30, 2014, 18 months before the end of its current term on December 31, 2015.
  
  McClendon will remain CEO of Chesapeake. For more color, click here.
  
  
• Manufacturing shows strength in April: The ISM Index for April came in at 54.8, up from 53.4 in March and 53.0 expected by the Street. ISM prices paid came in at 61.0, vs. the consensus estimate of 59.0.
  
  
• Another milestone achieved: Research In Motion (Nasdaq: RIMM) unveiled its vision for the BlackBerry 10 platform at the BlackBerry World conference in Orlando, FL, and released the initial developer toolkit for native and HTML5 software development! *cricket*

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