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Philip Morris gets snuffed on a $300 million verdict for a former smoker

A Florida woman on Thursday won a $300 million judgment against Altria Group's (MO) unit Philip Morris USA -- the largest award yet among 8,000 lawsuits filed in the state against tobacco companies. Jurors took three hours to return the award to Cindy Naugle, 61, of Ft. Lauderdale, a former smoker who was given $56.6 million in compensatory damages and $244 million in punitive damages. Philip Morris is responsible for all of the punitive damages and for 90% of the compensatory ones. The jury found Naugle 10% at fault.

Naugle says she started smoking at 20 in 1968 and made repeated attempts to quit, finally succeeding in 1993. Today, she has emphysema, requires a 24-hour oxygen and must travel in a wheelchair.

Stocks in the news: Dell, Goldman Sachs, D.R. Horton, J.M. Smucker

Dell (DELL) reported results late Thursday, saying its net income dropped 54% in the latest quarter amid signs the company isn't fully benefiting from the computer industry's fledgling recovery. Dell's results missed Wall Street's estimates. Shares fell over 6.5% ahead of the bell.

Goldman Sachs Group's (GS) shareholders finally found a voice. Some of the largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, The Wall Street Journal reported, citing people familiar with the situation.

Dell's disappointing earnings depress stock futures

U.S. stocks are set for yet another lower open Friday morning after two consecutive days of declines. The technology sector will remain in the spotlight after Dell's (DELL) worse-than-expected earnings reported late Thursday. As a whole, investors may be moving toward safer securities in the absence of confidence in the strength of the economic recovery.

Meanwhile, overseas, Asian markets finished lower and European shares erased their earlier gains after European Central Bank President Jean-Claude Trichet said the ECB will gradually withdraw emergency cash. Banks and energy stocks slipped.

More here: Before the bell: Futures lower on Dell's earnings, ECB move

AstraZeneca bets on a blood drug with multibillion-dollar potential

AstraZeneca (AZN) has had a good week with its anticlotting drug Brilinta (ticagrelor). It impressed many observers by announcing positive results of a late-stage head-to-head study and a mid-stage study for Brilinta, and on Thursday, it said it had filed for Food and Drug Administration approval. Brilinta could be on the way to becoming a megablockbuster drug.

Study results for the experimental drug -- which fights acute coronary syndrome -- were first presented Sunday. For the study's 8,430 sickest patients, those taking the drug suffered fewer serious cardiovascular events (or deaths) than those taking Plavix, from Bristol-Myers Squibb (BMY) and Sanofi-Aventis (SNY).

Stocks in the news: Sears, JP Morgan, Intel, Hot Topic

Sears Holding Corp. (SHLD) posted a smaller third-quarter loss Thursday of $127 million, or $1.09 per share, combating customers' continued desire to spend money elsewhere with tighter inventory management and cost-control efforts. Shares jumped 4% in pre-market trading. Excluding store closing costs and other items, Sears lost 81 cents per share, less than the average estimate of $1.09 loss per share.

J.P. Morgan (JPM) said Thursday that it will buy the half of the U.K. broker Cazenove it doesn't already own for around 1 billion pounds ($1.67 billion) in a deal that will net big payouts for many current and former employees. JPM shares dropped about 0.8% ahead of the bell.

Stocks ready to decline at the open on economic concerns

U.S. stocks are poised for a lower start Thursday morning on economic concerns and the possibility that stocks may have run up too far, too fast ahead of the economy. The retail sector is in focus with several retailers reporting earnings. The tech sector may likely see continued pressure following a downgrade of microchips by Bank of America.

More here: Before the bell: Futures lower on economic conerns; retail, tech in focus

Genzyme's bad year gets worse: Experimental kidney drug a no-go

genzymes-bad-year-gets-worse-experimental-kidney-drug-a-no-goFor Genzyme Corp (GENZ), this year seems to have been plagued with one piece of bad news after another. On Wednesday, the biotechnology company announced that it was dropping development of its experimental kidney disease drug after it failed to show significant improvement over the company's existing drug, Renvela.

Genzyme's first major setback this year came in the second quarter, when it had to temporarily shut down its Allston Landing, Mass., plant after viral contamination was discovered. The plant manufactures Cerezyme -- Genzyme's top-selling drug -- and Fabrazyme, a treatment for Fabry disease. Cerezyme treats Gaucher disease, a rare genetic disorder that can cause life-threatening organ damage, and the plant closure sparked fears of a shortage of the drug. The U.S. Food and Drug Administration consequently approved emergency use for two rival drugs from Protalix BioTherapeutics (PLX) and Shire (SHPGY).

Stocks in the news: Hershey, Goldman Sachs, Delta Air Lines, Chico's

Hershey Co. (HSY) and Italian chocolate maker Ferrero SpA said they're reviewing their options about making a joint bid for Cadbury Plc. (CBY) after it was approached by Kraft Foods Inc. (KFT). For their potential offer to succeed, it would have to be higher than Kraft's unsolicited offer of 10.3 billion pounds ($17 billion).

Goldman Sachs Group Inc. (GS) said it is launching a $500 million small-business assistance program that includes an advisory panel with billionaire investor Warren Buffett. On Tuesday, Goldman CEO Lloyd Blankfein apologized for his firm's role in the credit crisis.

Stocks set for lower open after housing, inflation data

U.S. stocks are poised for a slightly higher open Wednesday morning after setting new 13-month highs Tuesday. Investors await key economic data this morning, including consumer prices and housing starts. As traders may step back this morning to assess the recent rally, the same trends that pushed markets higher on Tuesday remain: the dollar has dropped and commodities soared, driving mining stocks higher in overseas markets.

[Update 8:30 a.m.: October housing starts were down 30% from last year, the weakest they have been since April. The CPI rose 0.3% in October on higher energy, car prices. At first glance, these figures seem likely to affect the mood negatively. 8:35 a.m.: Stock market futures are declining, indicating a lower start.]

More here: Before the bell: Futures edge higher ahead of data

New breast cancer screening guidelines confuse women as experts disagree

new-breast-cancer-screening-guidelines-confuse-women-as-experts-disagreeIf the experts can't agree on guidelines for breast cancer screening, then how are women supposed to decide? At the end of the day, the new guidelines from the U.S. Preventive Services Task Force, a panel of independent experts, have left women quite confused. Several other expert sources, including the American Cancer Society, have criticized the new guidelines and disagree with them.

To recap, here are the new guidelines (which do not apply to higher-risk women):
  • Women between the ages of 40 and 49 should not be routinely screened.
  • Women between the ages of 50 and 74 should be screened every two years.
  • Screenings are unnecessary for women 75 and older.
  • Women should not be taught how to perform breast self-examinations.
  • There is no additional benefit to clinical breast examination by doctors, nor are there added benefits to digital mammography or magnetic resonance imaging over film mammography.

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DailyFinance Writers
Melly Alazraki Melly Alazraki Financial writer and analyst
James Altucher James Altucher Financial columnist
Jeff Bercovici Jeff Bercovici Media columnist
Jonathan Berr Jonathan Berr Financial writer and media columnist
Mercedes Cardona Mercedes Cardona Retail reporter
Tim Catts Tim Catts Financial writer
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Sam Gustin Sam Gustin Technology Writer
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Latif Lewis Michelle Leder Financial Columnist
Latif Lewis Latif Lewis Business news editor and management columnist
Anthony Massucci Anthony Massucci Senior writer and tech columnist
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Todd Pruzan Todd Pruzan Features editor
Michael Rainey Michael Rainey Editor and economics writer
Alex Salkever Alex Salkever Senior technology writer
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Dan Solin Daniel R. Solin Author, investment advisor and retirement expert
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Bruce Watson Mark Svenvold Columnist, renewable energy
Russel Turk, M.D. Russell Turk, M.D. Healthcare policy columnist
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