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Updated from 2:14 p.m. EDT
The financial sector spent much of the morning in positive territory Thursday amid M&A news, though it lagged behind the Nasdaq along with the two other major indices.
A.G. Edwards (AGE Quote) was among the takeouts, vaulting 14.3% to $88.16 after Wachovia (WB Quote) agreed to pick it up for some $89.50 per share in cash and stock -- a 16% premium to the St. Louis broker's latest close. Wachovia slipped 0.7% to $54.19.
Other brokers rode high on A.G. Edwards' coattails in heavy trading, among them Raymond James Financial (RJF Quote), up 7.3% to $33.31; Stifel Financial (SF Quote), up 8% to $60.21; and BlackRock (BLK Quote) up 4.9% at $153.54. ...
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