Here’s Why Traders Are Buzzing about These Five Stocks on Monday

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A Marriage in the Energy Patch

Range Resources Corp. (NYSE:RRC) and Memorial Resource Development Corp (NASDAQ:MRD) are officially tying the knot today after Range Resources agreed to acquire Memorial Resource for $4.4 billion in an all-stock deal. The deal provides Memorial shareholders with 0.375 shares of Range common stock for each share of Memorial common stock they own. Based on Range’s closing price on May 13, that values Memorial Resource at $15.75 per share. Range Resources believes the deal will strengthen its position in the Gulf Coast and Appalachia. Range Resources Corp. (NYSE:RRC) was in 32 elite hedge fund portfolios at the end of December, while Memorial Resource Development Corp (NASDAQ:MRD) was held by 18 savvy funds at the end of 2015.

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