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PPD stocks jump 10 percent

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WILMINGTON -- Shares of PPD soared 10 percent to a record close yesterday after the company projected stronger-than-expected earnings for 2008. The company said it would earn between $1.82 and $1.92 per share in 2008 -- ahead of analysts' consensus estimates. The financial update triggered the stock rating on PPD to "buy" from "neutral." Stock in the drug-development and pharmaceutical services provider shot up to $46.89 as a result. The stock closed at $46.86.

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