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Applied Biosystems maintained by Merrill at neutral
Applied Biosystems was maintained by Merrill Lynch analyst J. Darryl Pardi at a neutral rating after the company announced it would transfer its 50% ownership of Celera Diagnostics to Celera Genomics in exchange for $30 million in cash and other - more valuable - considerations. The reorganization would make it easier for Celera and Applied to separate by reducing the relationship between the two companies and making Celera a more attractive independent asset, Merrill said. Shares of the Foster City, Calif., scientific and technical instruments company were up 94 cents, or 3.49%, at $27.91 on volume of 1,472,500 shares versus the three-month running average of 1,287,980 shares.
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