PPD stocks jump 10 percent

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.