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STMicroelectronics (STM +3.9%) has caught an upgrade to Buy from BofA/Merrill. Both The upgrade...

STMicroelectronics (STM +3.9%) has caught an upgrade to Buy from BofA/Merrill. Both The upgrade follows STM's announcement it's in talks to exit its money-losing ST-Ericsson mobile baseband chip JV, which comes after management reportedly failed to agree on splitting up the company's analog and digital chip ops. Shares have staged a decent rally since mid-November.
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