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Stock Market & Financial Investment News

News Breaks
February 13, 2013
07:18 EDTLOLorillard comments on agreement to resolve MSA payment adjustment disputes
On December 18, Lorillard Tobacco, along with other participating manufacturers, agreed to a term sheet with 17 states and the District of Columbia and Puerto Rico that resolves disputes under the 1998 Master Settlement Agreement involving payment adjustments relating to nonparticipating manufacturers. The settlement would resolve the claims for the years 2003 through 2012 and would put in place a new method for calculating this adjustment beginning in 2013. If the settlement proceeds and is approved, Lorillard Tobacco expects to receive credits over the next five years totaling at least $196M on its outstanding claims, with the majority of the credits occurring in April 2013 and the remainder over the following four years. As of February 11, 2013, the arbitration panel has not made its ruling with regard to the settlement. No amounts have been included in 2012 results related to this settlement. Certain non-settling states have objected to the request for approval.
News For LO From The Last 14 Days
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January 25, 2015
17:53 EDTLOWorries persist on Reynolds-Lorillard deal getting FTC approval, WSJ says
Shareholders are expected to approve the combination of tobacco companies Reynolds-American (RAI) and Lorillard (LO) this week but the real concern for the deal that will result in a formidable competitor to rival Marlboro maker and market leader Altria Group (MO) is whether the FTC approves of the deal, says the Wall Street Journal. British American Tobacco (BTI), which owns 42% of Reynolds, agreed to vote for the deal which will make the third party to the deal, Imperial Tobacco Group (ITYBY), the No. 3 player in the U.S.,as Imperial agreed to pay $7B for Reynolds’ Winston, Salem and Kool brands and Lorillard’s Maverick cigarette and Blu e-cigarette brands, added the Wall Street Journal report. Reference Link
January 21, 2015
09:37 EDTLOLorillard to host special shareholder meeting
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January 20, 2015
10:44 EDTLOWells sees tobacco stocks as 'place to be' for 2015
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07:21 EDTLOWells Fargo calls Tobacco 'place to be,' upgrades Altria Group
Wells Fargo calls the U.S. Tobacco sector the "place to be" in consumer staples in 2015. Wells lists positive catalysts for the group as stronger pricing power, protection from currency risk and upside potential from e-cigarettes. The firm says Reynolds American (RAI) remains its top pick and it raised its price target range for shares to $79-$81 from $69-$71. Wells upgraded Altria Group (MO) to Outperform from Market Perform with an increased price target range of $56-$58. The firm also has an Outperform rating on Lorillard (LO). Wells has a "high conviction" that Reynolds' deal with Lorillard will be approved by the FTC in March or April.

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