Among individual stocks, Merck ( MRK -0.80% ) is the big winner in the Dow, rising 2.2% after analysts at Jefferies upgraded the stock. Many investors share the analyst firm's opinion that when you consider the various components of Merck's business, their value makes the stock's current price look attractive. So far, Merck hasn't been as aggressive as many of its peers, which have spun off major divisions in order to unlock value. Most recently, rival Pfizer ( PFE -0.56% ) took steps to divest itself of a larger portion of its stake in animal-health business Zoetis after having made a modest initial public offering of Zoetis shares earlier this year. Given enough pressure to do so, Merck might well join in on the spinoff fun.