It was a good deal on Wall Street for just about all of Orange County’s major publicly traded companies.
All but a handful of local stocks took part in Monday’s broader rally, which was spurred by a pair of big deals: Xerox Corp.’s $6 billion bid for Affiliated Computer Services Inc., and Abbott Laboratories $6.6 billion offer for a unit of Belgium’s Solvay SA.
The rally ended a three-day losing streak from last week.
Among the local gainers: Lake Forest-based Western Digital Corp., up 5% on a market value of $8.3 billion; Anaheim-based Pacific Sunwear of California Inc., up 4.5% on a market value of $360 million; and Irvine’s Allergan Inc., up about 3% on a value of $17 billion.
Some beaten down stocks also joined in.
Newport Beach chipmaker Conexant Systems Inc. rose 10% on a market value of $140 million after a big drop last week on word a stock sale priced lower than expected.
San Clemente’s Sunstone Hotel Investors Inc., which two weeks ago handed its second hotel back to lenders since June, rose 6.5% to a market value of $545 million.
One company that didn’t take part: Santa Ana-based real estate brokerage and investor Grubb & Ellis Co.
Grubb saw a big run-up last week, perhaps based on speculation it has reached a financing deal to help it deal with a potentially crippling debt coming due.
The company’s shares fell 4% Monday to a market value of $110 million but resumed their surge in afterhours trading with an 8% gain at recent check.
