BOSTON ( TheStreet) -- Morgan Stanley ( MS) Best Ideas, the global investment bank's top stock picks, when last examined on December 7, comprised eight stocks that were expected to outperform benchmarks. Here's a look at how those stocks have performed since December 7. For purposes of comparison, the S&P 500 Index has gained 6% since that date.

Apple ( AAPL), +7%
BorgWarner ( BWA), +12%
Ford ( F), -13%
Republic Services ( RSG), +2%
Schlumberger ( SLB), +8%
Scripps Networks ( SNI), -3%
Tyco ( TYC), +10%
Union Pacific ( UNP), +2%

Four of the bank's eight picks have beaten their large-cap benchmark since Dec. 7. However, several have since been removed from Best Ideas. Scripps was pulled from the list on Feb. 13 due to opacity concerning potential return of capital to shareholders. The bank reiterated its "overweight" ranking on Scripps, which owns Food Network and Travel Network, and expects its stock to rise 19% to $60.

Also, Morgan Stanley added Eastman Chemical ( EMN) to Best Ideas on Jan. 12 and subsequently pulled it, this week, citing higher consensus expectations. Eastman's stock climbed nearly 8% over that span. Morgan Stanley still rates it "overweight."

Apple was removed from the list mid-December due to outperformance, but retained its top ranking.

Here are the current Best Ideas, with price targets and upside projections, followed by an examination of an intriguing new pick: CBS Corp. ( CBS).

BorgWarner ( BWA), Target: $88, Upside: 20%
CBS Corp. ( CBS), Target: $27, Upside: 10%
Ford ( F), Target: $21, Upside: 46%
Google ( GOOG), Target: $750, Upside: 30%
Pepsi ( PEP), Target: $82, Upside: 28%
Schlumberger ( SLB), Target: $160, Upside: 81%
Tyco ( TYC), Target: $52, Upside: 17%
Union Pacific ( UNP), Target: $112, Upside: 18%

Morgan Stanley named CBS a Best Idea on Feb. 24, predicting it will double earnings by 2012. The following is a breakdown of CBS's fundamentals and prospects. It's a stock to consider.

CBS is a media conglomerate, with television, publishing and billboard-advertising revenue streams. Formerly known as Viacom ( VIA.B), CBS went public in 2006. Viacom, now an independent publicly traded company, was later spun off. CBS owns its flagship television station, radio stations, with over 130 in U.S. markets, as well as premium-subscription channel Showtime and its subsidiary stations, which include Flix and The Movie Channel.

CBS has lucrative licensing deals for sports broadcasting, including the AFC of the National Football League and the NCAA Men's College Basketball Championship, which is currently enjoying ratings at a 17-year high, in part due to a new four-channel coverage strategy, which includes TBS and TNT. Brand-name assets barely scratch the surface.

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