Look At This Fed Tightening Record

Stocks are higher as traders scoop up bargains in an
oversold market.

According to ISI Group, the eight Fed tightenings in the last 35 years
resulted in recession five times, including the savings and loan crisis in 1990
and the 2000 Nasdaq collapse. The Fed is widely expected to increase rates again
at its next meeting.

A study by The National Retail Foundation said that half the taxpayers who
are getting a refund are planning to pay down debt. Others uses cited were
vacations and making a major purchase.  According to the IRS, refunds are
averaging $2259 this year.

AmerisourceBergen
(
ABC |
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margin. Trading down in sympathy are: Cardinal Health
(
CAH |
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McKesson
(
MCK |
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PowerRating).

(
SHLD |
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PowerRating) is the new symbol for Sears Holdings, the company created
by the Sears/KMart merger.

The Wall Street Journal reports that 12 AIG executives have
been subpoenaed.

Barron’s said Tiffany
(
TIF |
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on a takeover basis or at least $40 if management can fix the company’s
problems.

The FDA approved GlaxoSmithKline’s
(
GSK |
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osteoporosis drug.

Stocks in the News

Millenium Pharmaceuticals
(
MLNM |
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PowerRating) said the FDA granted expanded
approval for its cancer drug Velcade.

Ligand’s
(
LGND |
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UBS downgraded General Motors
(
GM |
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PowerRating)  to ‘reduce.’

Morgan Keegan cut estimates on Taser
(
TASR |
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