A decision by a Florida jury to impose damages of $23.6 billion against RJ Reynolds is likely to be rejected or reduced on appeal, experts say.» Read More
*Reynolds, Lorillard marriage seen making $500 mln savings. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would reshape one of the world's biggest and most profitable tobacco markets, the companies said on Friday.
European shares ended the day flat, as traders shrugged off some concerns about the condition of Portugal's banking sector.
*Wells Fargo falls, but revenue tops forecasts. Wells Fargo& Co reported revenue that beat expectations, though for the first time since 2009, the bank did not increase its earnings-per-share from the preceding quarter. Fastenal Co slumped 4.6 percent to $45.92 after revenue missed expectations.
NEW YORK— U.S. stocks stabilized and ended with a small gain Friday, but it wasn't enough to prevent the market's biggest weekly drop since April. As investors try to make sense of the market, "we could be in a holding pattern," said Kristina Hooper, US Investment Strategist at Allianz Global Investors. Its weekly decline of 0.9 percent was the biggest since April 11.
Tobacco companies Reynolds American and Lorillard have confirmed they're in merger talks. CNBC's David Faber takes a close look at the negotiations.
*Lorillard market value is $22.9 bln. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would include the sale of some brands to Britain's Imperial Tobacco Group Plc, the companies said on Friday.
Some of the names on the move ahead of the open.
A deal between Reynolds American Inc. and Lorillard Inc. would create a formidable No. 2 to rival Altria Group Inc., owner of Philip Morris USA. The merger would be "very positive for the global tobacco industry and could be just the beginning of future transactions," Wells Fargo Securities analyst Bonnie Herzog wrote in an investor note.
RICHMOND, Va.— Imperial Tobacco Group PLC says it's in discussions with U.S. cigarette makers Reynolds American Inc. and Lorillard Inc. to acquire some of their brands and assets amid talks of a possible merger.
*Reynolds, Lorillard not available to comment. LONDON, July 11- U.S cigarette makers Reynolds American Inc and Lorillard Inc are in talks on a possible multi-billion dollar disposal to Britain's Imperial Tobacco Group Plc, as part of efforts to ease antitrust concerns over their planned merger.
LONDON, July 11- European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal's banking sector that highlighted contagion risk in the euro zone.
Reynolds American and Lorillard are agreeing a complex merger that will reshape Big Tobacco, bringing together the two biggest US operators.
LONDON, July 11- Imperial Tobacco, the world's fourth-largest tobacco group, said on Friday it was in talks with Reynolds and Lorillard to acquire certain assets and brands that could be sold by the two companies. Reynolds and Lorillard are in advanced talks about a deal that would merge the No.2 and No.3 U.S. cigarette makers, Reuters has previously reported.
LONDON, July 11- Imperial Tobacco, the world's fourth-largest tobacco group, said on Friday it was in talks with Reynolds and Lorillard to acquire certain assets and brands that could be sold by the two groups. "Imperial would proceed with an acquisition only if its terms met strict transaction criteria," it said.
Stocks rose on Thursday, lifting the Dow industrials above 17,000, after the June jobs report.
Sources told CNBC that a Lorillard and Reynolds American merger is weeks away, although the companies have not fully negotiated terms.
Some of Thursday's midday movers:
July 3- Tobacco majors Lorillard Inc and Reynolds American Inc are likely to merge as early as end of July, CNBC reported, citing sources.
WASHINGTON, June 25- White House changes to proposed rules for tobacco products significantly weakened language detailing health risks from cigars and deleted restrictions that might have prevented online sales of e-cigarettes, published documents show.
An FDA spokeswoman, Jennifer Haliski, said the FDA does not comment on changes to a proposal during the review process but said the period for the public to comment on the proposal is still open until Aug. 8.