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· California
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Jump to full article: thestreet.com, 2003-01-02
Author: TSC Staff
Intro: Salomon Smith Barney (Tobacco)
Finally, a victory for the industry on the West Coast. A CA federal court judge just entered a directed verdict in the Conley indiv. trial against MO & RJR. Not only is this favorable news, in our view, but importantly, this is probably the first real time that the Myers & Naegele decision has helped the industry. Although we believe this is positive for the industry and the stocks could get a bounce, we remain cautious on the group since we expect the fundamental concerns to weigh more heavily on the stock. We Marketweight the industry.
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