The Stocks Wall Street Is Watching

The following stocks may be
impacted due to significant news as noted:

Drug stocks are in the news, as Abbott Labs
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has been downgraded by Morgan Stanley to “equal-weight” from “overweight”.
Bar Labs

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is likely to benefit from an upgrade by Salomon Smith
Barney to the specialty pharmaceutical who now rates it a “market weight” from a
previous “underweight”. Forrest Labs
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has announced positive
Phase III results for its Alzeimer therapy. Also, Johnson & Johnson
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has announced positive results for its drug Risperdal, used to treat people
diagnosed as bipolar.

Defense contractor Northrop Grumman
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has reached a deal with the Justice Dept. that will allow it to acquire TRW
Inc.

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, given the approval of shareholders from both companies.

Broadcasting and cable TV company Emmis
Communications

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has been downgraded by Morgan Stanley to
“underweight” from “equal-weight”.