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DEFENSE
General Dynamics buys tech firm
The defense firm bought Advanced Technical Products for $250 mil, including debt and options. General Dynamics will pay $33.50 a share, a 17% premium over Wednesday's close. General Dynamics said the deal gives it a strong tech position on key defense programs. Advanced Technical jumped 4.75, or 17%, to 33.28. General Dynamics rose 1%.
FINANCE
Merrill may revamp stock ratings
The brokerage may rate stocks as a buy, hold or sell, sources told CNNfn. Merrill Lynch uses a system of four numbers to rate stocks on a near-term and long-term basis, giving investors ratings such as 2/3 or 1/1. The possible change comes as the New York attorney general probes charges Merrill analysts made bullish calls so the firm could win investment banking business.
Merrill Vice Chairman Tom Davis will resign Nov. 1.