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Markets & Finance

Wal-Mart Sees Higher Sales

UBS Warburg raises its stock price target for luxury retailer Tiffany (TIF). The analyst recommends buying the stock prior to the company's sales report on Jan. 8.

AT&T Wireless (AWE) says AT&T has completed disposition of its remaining equity interest in the company.

The government of India selects Top Image Systems (TISA) software for its national sensus project.

Wal-Mart (WMT) reportedly sees December same-store sales at the high end of 4% to 6% range.

Goldman upgrades jewelry retailer Zale Corp. (ZLC) to market outperform from market perform.

The FDA approves Novo-Nordisk's (NVO) NovoLog, its rapid-acting insulin analog, for pump therapy in diabetes.

Patterson-UTI (PTEN) acquires seventeen land-based drilling rigs from Cleere Drilling Co. for $13.5 million cash, 450,000 Patterson shares and 325,000 warrants.

Echostar (DISH) chairman and CEO Charlie Ergen says he plans to expand and reshape Hughes' SpaceWay project and boost a stake in PanAmSat if regulators approve its acquisition of Hughes Electronics (GMH)

Matsushita Electric Industrial (MC) notes media reports that it plans to make five of its units wholly-owned subsidiaries through share exchanges, but says it has not decided to pursue any such alternative.

Entercom Communications (ETM) will acquire three radio stations in Denver from Tribune Co.'s (TRB) Tribune Broadcasting Co. for $180 million.

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