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Star Scientific posts

Closing Bell: Markets Open Higher, Pull Back Later (NEXS, CRA, URRE, CIGX, ACY, ESLR)

Posted Mar 18th 2011 4:30PM by Jon Ogg (RSS feed)
Filed under: S and P 500, DJIA, NASDAQ

The DJIA gained 150 points in the first half hour of trading this morning, only to see the gains melt away after lunch. The Nasdaq and S&P 500 followed much the same pattern as a massive intervention by the G7 nations pushed the yen down by about 2.5% against the US dollar and the Fed freed some of the largest US banks either to resume or to increase dividend payments to shareholders.

The UN resolution authorizing a no-fly zone in Libya sent crude oil above $103/barrel before Libya announced that it would initiate a cease-fire, quelling some fears of a major military dust-up. In currency markets, the euro has traded above $1.41 for most of the day and the yen is trading just under 81. Gold prices rose again, by $12.40/ounce, to $1,416.40.

Dow Jones 11,858.52 +83.93 (0.71%)
S&P 500 1,279.21 +5.49 (0.43%)
Nasdaq 2,643.67 +7.62 (0.29%)

Continue reading Closing Bell: Markets Open Higher, Pull Back Later (NEXS, CRA, URRE, CIGX, ACY, ESLR)

Star Scientific Seeks New FDA Designation

Posted Jan 4th 2011 3:30PM by Mark Fightmaster (RSS feed)
Filed under: Next Big Thing

Reportedly, Virginia-based tobacco maker Star Scientific (CIGX) is going to ask the Food and Drug Administration (FDA) for approval to sell a new tobacco product as safer than any competing product.

The company sells tobacco lozenges that dissolve in the mouth and the company says that it has lower levels of cancer-causing chemicals than any other tobacco product currently on the market. Star Scientific says that the "modified-risk" label that the FDA is developing should be on the new lozenge (Stonewall Moist) because the product contains 90% to 99% less tobacco-specific carcinogens than other smokeless tobacco products.

Continue reading Star Scientific Seeks New FDA Designation

Reynold's American (RAI) wins patent dispute

Posted Jun 17th 2009 12:50PM by Brent Archer (RSS feed)
Filed under: Good news, Law, Options, Technical Analysis

Reynolds American (NYSE: RAI - option chain) shares are rising today after a federal jury ruled that the company did not infringe upon Star Scientific Inc.'s (NASDAQ: STSI) patents regarding a method to reduce cancer-causing toxins in tobacco. The jury determined the two STSI patents at issue were not valid. STSI is expected to file an appeal. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on RAI.

RAI opened this morning at $37.03. So far today the stock has hit a low of $36.86 and a high of $37.97. As of 12:20, RAI is trading at $37.29 up.96 cents(2.6%). The chart for RAI looks neutral and S&P gives RAI a neutral 3 STARS (out of 5) hold ranking.

Continue reading Reynold's American (RAI) wins patent dispute

Star Scientific court decisions due tomorrow

Posted Jan 18th 2007 3:30PM by Eric Buscemi (RSS feed)
Filed under: Law

According to a Dow Jones report yesterday, the decisions to three pending Star Scientific, Inc. (NASDAQ: STSI) summary-judgment motions in the company's patent-infringement lawsuit against Reynolds American Inc's (NYSE: RAI) R.J. Reynolds Tobacco Co. will be available on tomorrow.

The patent-infringement suit has been ongoing since 2001, when Star Scientific filed against Reynolds, alleging that Reynolds had violated the company's process to reduce the level of nitrosamines - a carcinogenic toxin - in tobacco.

Star Scientific's stock rose from $3.39 to $4.40 yesterday on the news the decisions had been reached, and could rise again significantly should those decisions go its way. Additionally, if Reynolds is ordered to pay a significant enough sum, the tobacco giant may decide to simply buy out Star Scientific rather than pay a hefty patent-infringement fine.