Merger mania is back, but this time the enthusiasm is funneling into investment bank and brokerage stocks.
In trading on Friday, several of these stocks soared on speculation that they would be targeted for acquisition by European or U.S. banks in the new age of financial modernization. Charles Schwab Corp. rose $5.50, or 12%, to $51. Goldman Sachs Group Inc. was up more than $9 at one point, and finished the day up $5.0625, or 4.7%, to $112.25. The two companies were the subject of takeover rumors.