Conglomerate Stocks Rise Sharply

Conglomerate stocks are up sharply during today's trading. While the Vanguard MegaCap 300 (NYSE: MGC), which includes many large well capitalized conglomerates is up nearly 1%, several individual companies have surged.

Companies such as Koninklijke Philips Electronics NV (NYSE: PHG), Temple-Inland Inc. (NYSE: TIN), and ABB Ltd. (NYSE: ABB) all made significant gains in the range of 3% to 7% this morning.

Alleghany Corp. (NYSE: Y) and Dover Corp. (NYSE: DOV) bucked the trend set by other conglomerates, with their share prices falling.