Pfizer, Actavis Rumor, Inversion Turn Attention to Pharma ETFs

Shares of Actavis (NYSE: ACT), the generic drugmaker with an attractive Irish domicile, jumped 2.4% to a new record high on volume that was more than double the daily average Tuesday on speculation Dow component Pfizer (NYSE: PFE) is mulling a takeover of Actavis. Pfizer has previously displayed a...