Nothing goes up in a straight line, not even during the holidays, so a near-term market pullback would be a healthy way to prevent a steeper correction in January.

We could be on the verge of another major oil M&A boom like the historic one that brought Exxon and Mobil together. Mergers and acquisitions have the potential to shake up a market and send some stocks soaring, but the best industry plays aren’t all that obvious.

Apple Inc. might have clocked a record high of $115 in the market, but that has not stopped some of the biggest hedge funds in the U.S from offloading their stakes in the company.

With the Allergan acquisition, Actavis will be able to strengthen its global presence especially in Canada, Europe and Southeast Asia and other high-value growth markets like China, India, the Middle East and Latin America.

In the news today due to a merger with Actavis that values Allergan at $66 billion, Allergan is a Zacks Rank #2 (Buy).

Actavis will acquire Allergan for a combination of $129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock.