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Stocks To Watch: Barclays, Caterpilllar, Morgan Stanley, Pfizer, Research in Motion


Today's big stories and some stocks with potential to move...


Stocks to watch for Monday, April 23:

  • Abbott (ABT) is offering to sell an AIDS drug in Thailand at a discount, a move that could embolden other developing countries to seek lower drug prices.
  • AstraZeneca (AZN) agreed to buy MedImmune (MEDI) for $15.6 billion, in a deal that will transform the size of its biotechnology business and allow the British drug maker to enter the vaccines market.
  • Bank of America's (BAC) CEO is betting his bank's elite image with three big recent deals, including a $21 billion accord for ABN's LaSalle bank.
  • Barclays (BCS) agreed to buy ABN Ambro (ABN) for $91.07 billion to create the world's largest institutional asset manager and one of its top-five banks. As part of the deal, ABN said it is selling LaSalle Bank to Bank of America for $21 billion.
  • Bristol-Myers (BMY) appears close to freeing itself from federal oversight after an accounting scandal as a deferred prosecution accord is set to expire June 15.
  • Caterpillar (CAT) raised its 2007 sales and earnings outlook, despite weakness in the North American housing market, due to continued strength in its overseas industries.
  • A Clear Channel (CCU) radio station is changing its ad format. The Dallas classic-rock station plans to weave in mentions of sponsors, no more than fifteen seconds at a time, throughout the regular programming.
  • A pension fund group plans to oppose two CVS/Caremark (CVS) board nominees. Caremark's sale and options dating are issues.
  • Hasbro (HAS) swung to a first-quarter net profit amid a strong performance across the toy maker's product lines.
  • Morgan Stanley (MS) selected Stephen Roach to head its Asian operations, succeeding Alasdair Morrison, as the firm aims to strengthen its investment-banking business in the industry's fastest-growing region.
  • Motorola's (MOT) first-quarter decision to flood the market with its excess phones left other firms in a holding pattern.
  • Pfizer's (PFE) net income fell 17% for the first quarter, as restructuring costs weighed down results. Sales rose 6%, driven by the popularity of its new nerve-pain drug Lyrica.
  • Sallie Mae (SLM) plans to go private, but will still likely come under a regulator's scrutiny because of a state-chartered finance arm.
  • Research in Motion (RIMM) is set to launch software that will allow features of its popular BlackBerry to be used on non-BlackBerry devices.

Market Update

  • Asian trading closed with the Hang Seng -0.05%, Nikkei +0.02%, Sensex +0.22%, Taiwan +0.85% and Shanghai +3.53%.
  • A quick look towards Europe shows the CAC -0.35%, DAX -0.02%, FTSE +0.67%, ATX +0.15%, Swiss Mkt. +0.27% and Stockholm -0.10%.
  • Gold is trading -0.9 to 694.9 while crude oil is +0.21 to 64.32 this morning.
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No positions in stocks mentioned.

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