Monday's market.

Shares of Barnett Banks Inc., Jacksonville, Fla., rose sharply on acquisition talk.

Barnett stock rose $1.50 to $47 following a report by business commentator Dan Dorfman on CNBC that acquisition overtures had come from two banks, which he did not identify.

But Mr. Dorfman said deals were unlikely to occur.

Wendy Gliechmann of Merrill Lynch & Co. upgraded Union Bank, San Francisco, to "above average" from "neutral."

Ms. Gliechmann noted the high dividend yield on the stock, recently at 5.2% after its price pullback this spring. The stock rose 25 cents to $27.50 in late trading

Merrill Lynch led the underwriting of Union Bank's recent public offering of 2.5 million shares priced at $30.50 each.

Bank stocks in general improved on Monday. Among those enjoying strong gains were Norwest Corp., ahead $1.25 to $49, J.P. Morgan & Co., up $1 to $66.375, KeyCorp, up $1.375 to $39.875, and Boatmen's Banc-shares Inc., up $1.375 to $57.125.

However, Wells Fargo & Co. lost $1.25 to $101.75, Nations-Bank Corp. was down 12.5 cents to $46.875, and NBD Bancorp was down 25 cents to $31.25.

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