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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (1778)	6/11/1998 3:10:00 AM
From: Forrest Lee	Respond to of 6439

Read the middle part...IT looks good Baby...GO MO Wednesday June 10, 5:47 pm Eastern Time Tobacco shares fall on Florida verdict NEW YORK, June 10 (Reuters) - Philip Morris Cos. Inc. and other tobacco stocks fell sharply on Wednesday after a Florida jury found Brown & Williamson Tobacco Corp. liable for conspiracy and other charges in a long-time smoker's death. Philip Morris, the most active New York Stock Exchange issue, fell 1-7/8 to 38-3/8. RJR Nabisco Holdings Inc. (RN - news), the fourth-most active issue, was off 7/8 to 26. Wall Street analysts said the Jacksonville, Fla., jury's award of about $1 million to the family of the late Roland Maddox was seen by investors as evidence that the industry's legal challenges may become more formidable. Brown & Williamson, a unit of British-based B.A.T Industries Plc. (quote from Yahoo! UK & Ireland: BATS.L), said in a statement that it would ask the judge to set aside the verdict. The company said it will appeal the decision if necessary. Before the verdict was returned, Salomon Smith Barney analyst Martin Feldman predicted that Philip Morris shares would fall about $2 if the jury ruled against Brown & Williamson. Loews Corp. (LTR - news), which owns cigarette maker Lorillard, fell 1-15/16 to 89-1/16, while UST Inc. (UST - news), which makes smokeless tobacco products, was off 1/2 to 26-1/8. ''They'll be up tomorrow,'' predicted PaineWebber analyst Emanuel Goldman. Goldman said investors will regain some faith in the group, especially Philip Morris, when they focus on the amount of damages the jury awarded, which Goldman considered was relatively small. ''If they (the jury) felt that there was a real cover-up (by Brown & Williamson), they would have awarded a monstrous amount of money,'' Goldman said. Offering a dissenting opinion on Wednesday's stock movement was Marvin Roffman of Rothman Miller Associates. ''I don't think Philip Morris was down because of that (Florida) decision, I think it was down because the whole market was down,'' Roffman said, noting that the Dow Jones Industrial Average fell 78 points Wednesday. Roffman said the legal war over tobacco will continue inconclusively and indefinitely unless a national settlement is approved by Congress. ''Unless there's some kind of agreement reached with the federal government, this will go on forever,'' he said.