• The market has been up big the last few weeks. But the ride may be over. "The market has gone too far, too fast," as one fund manager puts it. [BN]
• Following the stress tests last week, a number of banks have been busy de-stressing: Both Morgan Stanley and Wells Fargo raised billions late last week to satisfy new capital requirements mandated by the Fed. [NYT]
• Meanwhile, Bank of America, which needs to raise $34 billion (down from the $50 billion it could have been forced to raise) is looking to offload its stake in China Construction Bank, although finding takers isn't easy. [WSJ]
• Warning: Turning around AIG may take a bit longer than expected. [WSJ]

Serena Williams is 27 today. Others celebrating: Music exec Andre Harrell is 48, Christina Milian is 27, former New Jersey governor Christine Todd Whitman is 62, Olivia Newton-John is 60, and Linda Hamilton turns 52. Two figures on the New York web scene will be blowing out candles this evening: Gothamist co-founder Jen Chung is 32. And Nerve.com founder Rufus Griscom is 41. Weekend birthdays after the jump!