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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 57.53+2.9%Jan 9 9:30 AM EST
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To: don kramer who wrote (1869)6/22/1998 6:45:00 PM
From: Geoff  Read Replies (1) of 6439
 
Two favorable decisions in one day! The story of the latter decision, involving the Florida case, did not break until the close, at least I think that is correct. Did the story break before the close? If not, then I would expect a strong reaction by the street. With each decision in tobacco's favor, it would stand to reason that the government will find itself in a weakening position when attempting to craft tobacco legislation. It would be best for Congress to abide by the agreement between the industry and the States' attorneys general.

Perhaps the tobacco companies should re-enter negotiations for a settlement now, while they are on a hot streak.

As more courts side with tobacco I would imagine that the pressure to settle will increase dramatically on the government. Share prices of tobacco stocks should move higher as a result of a renewed settlement effort, one more favorable to tobacco. Then, with confidence growing that this industry will finally have some certainty to its legal and financial future, the companies' shares should appreciate quite handsomely. Too bad I didn't buy those leaps... anyone know when the 2001s for MO will be issued?

long on mo.

geoff
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