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Goldman Sachs (GS) told its clients to buy United Technologies (UTX) over Boeing (BA). In so doing, the investment bank lifted United Tech to "buy" from "neutral" and cut Boeing to "neutral" from "buy."
Goldman said UTC is "well positioned in a strengthening Commercial Aerospace aftermarket, it has a strong product portfolio in a bottoming Defense market, it is a leader in US non-residential construction, and its largest profit generators in the European construction markets look to be bottoming."
Media General (MEG) said it would buy LIN Media (LIN) in a deal valued at $1.6 billion. The merger will create a television broadcaster that reaches nearly a quarter of U.S. households with televisions, according to Reuters. LIN shares are surging 30% on the news.
Symantec (SYMC) shares are plummeting after the maker of Norton antivirus abruptly fired CEO Steve Bennett.
4Tiffany & Co. (TIF)
Tiffany & Co. (TIF) shares are stumbling after the jeweler posted disappointing quarterly results and a weak forward outlook.
BlackBerry (BBRY) shares are jumping after the struggling smartphone maker said it would sell the majority of its Canadian real estate.