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Federal law trumps local prohibition, says an appellate court in New York, as it upholds a ruling from a lower court that nullified a mandate which required NYC retailers to display graphic signs warning consumers regarding the negative health effects of smoking. The court ruled that merchants such as Lorillard Inc. (NYSE:LO), Altria Group, Inc. (NYSE:MO), and Reynolds American (NYSE:RAI) are protected under Federal law, which supersedes local mandates.
Lockheed Martin (NYSE:LMT) remains confident that The Netherlands will still purchase F35 fighter jets, although the Dutch parliament moved last week to stop the transaction. Tom Burbage, Lockheed executive, commented on Monday that “There are no binding resolutions”, and in the meantime, his firm has delivered four more operational F35s to the U.S. Defense Department, increasing its total assets to more operational than test versions of the plane.
Green Mountain Coffee Roasters (NASDAQ:GMCR) shares trade down, after GMCR having been the unlucky recipient of a comment by David Einhorn on CNBC: “Yeah, Keurig is on the way out.” The stock has been quite volatile during 2012, but over the past 30 days it has been trading in a tighter range.
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