In other M&A news, insurers Transatlantic Holdings (NYSE: TRH) and Allied World Assurnace (NYSE: AWH) said they plan to combine in a $3.2 billion merger. Both stocks are held in PowerShares KBW Property & Casualty Insurance Portfolio (NYSEArca: KBWP). Transatlantic shares rallied 12% while Allied World Assurance dropped about 2%.
Wendy’s/Arby’s Group (NYSE: WEN) jumped 5% after the company said it was selling the Arby’s chain to Roark Capital Group. First Trust Consumer Discretionary (NYSEArca: FXD) rose fractionally.
Gerber Scientific (NYSE: GRB) shares soared 34% after the company said it has agreed to be acquired by Vector Capital. PowerShares Zacks Micro Cap (NYSEArca: PZI) rose 0.5%.
First Trust Consumer Discretionary
