NEW YORK (Reuters) - Stocks scored their best week since November on Friday as a broker upgraded Merck & Co (MRK.N), saying its deal to buy a rival was shrewd, and Citigroup (C.N) said it did not need any more government aid.
Merck gave the Dow its biggest boost after Sanford C. Bernstein upgraded the drug maker's stock to "outperform," saying its deal to buy Schering Plough Corp (SGP.N) would add value at a decent price.
"We're certainly seeing buying today in health care on the depressed stock prices and high dividend yields that this group enjoys right now," said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York.
"The Street upgrades helped investors see potential opportunities here." more...
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