Headlines -- and stock-price movements -- in the industrials sector were dominated by companies making splashy acquisitions on Monday. Stocks broadly advanced on a report by the Institute for Supply Management that its Purchasing Managers Index, a gauge of demand for industrial products, had indicated growing purchasing activity for the first time in four months, suggesting optimism in the manufacturing sector. While the Dow Jones Industrial Average ended the day up nearly 0.6%, a few companies announcing high-profile acquisitions and mergers fared better.
The day's biggest gainer was specialty ceramics manufacturer Ceradyne, which rose 43% after the announcement that it will be acquired by diversified technology and manufacturing giant 3M
Diversified industrial manufacturer Honeywell
Famously fractious Tyco International
The flow control business was immediately acquired by Pentair, as previously agreed by shareholders at both companies, with the resulting entity, Pentair Ltd.
Shares of Pentair were down more than 4.5%, probably because of the structure of the deal: Tyco investors automatically received shares in Pentair Ltd., so investors who remained primarily interested in Tyco's security business may have sold their Pentair shares simply to cash out. This may present a buying opportunity for those interested in Pentair's water and industrial products business.
Finally, shares of 3D Systems
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