Smoking it Up
The Dow try to get back what it lost yesterday as it was up 73 to 11,225. Oil prices are holding on to the all time highs of above 75 per barrel.
It seems this week in business is all about lawsuits and court. Coke won its case of espionage as three people stole confidential information and tried to sell it to Pepsi. The cola wars are on and it seems the spies are coming out of no where with secret informations. Merrill Lynch will pay $25.5 million to settle its Enron case of playing a role in Enron’s bankruptcy.
Tobacco companies dodged a bullet as a Florida court tossed out the $145 billion verdict. Look for the big tobacco companies to bring in some positives and as expected Altria Group (MO) went up 6% to 77.76, Carolina Group (CG) up 5.50% to 54, and Reynolds America (RAI) up 4% to 118.95. I can see these companies doing very well in the next couple of months.