Homebuilders Standard Pacific (SPF) and Ryland Group (RYL) surged on Monday on news the two had agreed to merge to form a combined company with a market cap of $5.2 billion. Combined, the two would own or control 74,000 home sites. News of the merger gave homebuilder peers a jolt. Hovnanian Enterprises (HOV), D.R. Horton (DHI) and Lennar Corp (LEN) were all higher. Wall Street kicked off the week with a stock slump, following European markets in a selloff after Greek debt talks broke down. By midday Monday, the Dow had dropped more than 100 points. Prospects of a grim future for Greece hit Athens-based National Bank of Greece (NBG) hard.
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