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Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily. I'm Cathy Rankin and for Friday May 31st we're bringing you the latest news from around the markets as well as the top movers to look out for today... (HEADLINE NEWS) In Headline News Today... So much for investors fretting about the old adage, "sell in May and go away." Blue-chip stocks may have ended today's session in lackluster fashion, but sellers this May were few and far between. The Dow, S&P 500 and Nasdaq finished mixed Thursday, but closed out a seasonally weak month with respective gains of 4.3%, 3.3%, and 3.1%. Before the bell, investors embraced another round of supportive M&A news. The day's biggest deal involved Wachovia saying it will acquire A.G. Edwards for $6.8 bln in cash and stock Below average volume, though, indicated there was little conviction overall on the part of investors. Total volume on the NYSE didn't surpass 1.0 bln shares until there were only 15 minutes left in the session. Soon after lunch, market participation continued to dry up as trading desks began to empty in anticipation of the extended Memorial Day weekend The offer represented a 16% premium to A.G. Edwards' Wednesday's closing price and will create the nation's second-largest retail brokerage. As one might expect, the news raised speculation of more industry consolidation and gave brokerage stocks a sizable boost That wasn't enough to lift the rest of the rate-sensitive Financials sector, however, as banks and REITs were pressured by bond yields hitting multi-month highs across the yield curve. The absence of leadership in the S&P 500's most heavily-weighted sector prevented modest gains from the likes of Technology and Industrials from playing a more influential role in today's follow-through attempt Separately, a much stronger than expected rise in Chicago PMI overshadowed the U.S. economy's weakest GDP growth in more than four years, which was reported to be up just 0.6% in the revised first quarter reading. And now for our Small Cap News... brought to you by Compress Technologies, Inc., (CTLG.PK) Compress Technologies, Inc., (CTLG.PK) is a Nevada based technology company who has garnered a group of patented and protected core technology solutions designed to greatly improve the efficiencies of bandwidth and network topographies for the Cable TV, FM-SCA Radio, Satellite and Wireless Industries. Hidalgo Mining International (HMIT.PK) announced today that it has received a formal offer from Consolidated Mining and Mineral (CMM), to purchase all the outstanding and issued stock of HMIT for a consolidated purchase price of $2.15 per share. If the offer is finalized CMM will immediately own the mining rights to the Northern Mexico Coal Property which encompasses nearly 300M tons of discovered and tested coal. Hidalgo also announced plans to construct a high-tech coal washing plant located directly on site at its Northern Mexico coal property. Sun Cal Energy Inc. (SCEY.OB) shares were boosted on the announcement yesterday the company has completed successful drilling and testing of its deep development well in Washita, County, Oklahoma . Collection and evaluation has been completed on the Sturgeon 1-11 well, and has been deemed commercially viable Marathon Oil will commence assembly of a more permanent drilling platform to support well completion on the Sturgeon 1-11 well, and is estimated to spend an additional $4 million for oil and gas extraction. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company And that's our newsmakers, Stay tuned right here to Quality Stocks Daily for the latest news from small cap to large cap, and everything in by QualityStocks.Net, where performance is tracked daily. Thank you for tuning in, I'm Cathy Rankin, Have a great day and we'll see you next week, right here on the daily report.