There’s plenty of merger action today, amid earnings news and geopolitical happenings.
Ensco (ESV) and Pride International (PDE) said they are merging to create the second-largest offshore driller in the world.
Pride makes up 3.83% of the SPDR S&P Oil & Gas Equipment & Services ETF (NYSE:XES), which is trading up almost 2.5% Monday. Top stocks in that fund include Baker Hughes (BHI) and Helmerich & Payne (NYSE:HP).
Ensco is 3.85% of the Oil Services HOLDRS (NYSE:OIH), which is trading up over 1.3% today. Schlumberger (NYSE:SLB), Baker Hughes, and Halliburton (NYSE:HAL) are top holdings in the portfolio.
Also today, multiple reports suggest Genzyme (GENZ) is nearing an agreement to be acquired by Sanofi-Aventis (NASDAQ:SNY).
Genzyme is a top holdings in the Biotech HOLDRS (NASDAQ:BBH), trading down slightly today.
Other top stocks in the fund include Amgen (NASDAQ:AMGN), Gilead Sciences (NASDAQ:GILD), and Biogen Idec (NASDAQ:BIIB).
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