Carpenter Technology is trading at $296.09, up 4.02%, as major U.S. indexes rise. - The S&P 500 is up 0.74% and the Nasdaq is up 1.02%. - Shares are rebounding after a steep post-earnings selloff tied to a revenue miss and flat near-term outlook. - KeyBanc downgraded the stock to Sector Weight, citing softer guidance and other concerns; the downgrade is a countervailing headline, not an explanation for the gain.