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Stocks and ETFs wavered from positive to negative amid a wave of corporate wheeling and dealing.

The ETF Dashboard shows that while the markets vacillate between positive and negative, investors are out making plays for emerging markets. Market Vectors Gulf States (NYSEARCA:MES) is up more than 2% in early trading:

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ETF Dashboard

Hewlett-Packard (NYSE:HP) and Dell (NASDAQ:DELL) are in a battle for 3Par (NYSE:PAR), a data storage provider. 3Par’s stock price shot up more than 40% on the news. SPDR S&P Technology (NYSEARCA:XLK) is down 0.4% in early trading; HP is 3.7%; Dell is 1%.

Technology ETFs

Meanwhile, Potash (NYSE:POT) is trying to fight off a takeover by BHP Billiton (NYSE:BHP) by seeking out other counter-bidders, including a fertilizer company from China. Market Vectors Hard Assets Producers (NYSEARCA:HAP) is up a slight 0.2%; POT is 6%; BHP is 2%.

Agriculture ETFs, Potash

Disclosure: None

Source: Monday Mid-Day Update: Corporate Deals Send ETFs Higher