Signet Fails to Obtain Injunction and 3 Morning Hot Stocks Seeing Action Now
Signet Jewellers Limited (NYSE:SIG): Current Price $61.80
Sterling Jewellers Inc, a unit of Signet Jewellers Limited (NYSE:SIG), failed to obtain an injunction that would block Zale Corp’s (NYSE:ZLC) advertising campaign claiming that its Celebration Fire gemstones are the “most brilliant diamonds in the world.” Sterling claimed that its tests proved its own diamonds were as brilliant as those of Zale’s, and moved to suspend the campaign just before the holiday shopping seasons. The judge, however, said that Sterling could not prove that it would suffer irreparable harm due to the advertisements, and instead could probably claim only lost sales or customers at the trial. As this could be remedied through an award of monetary damages, a preliminary injunction was denied.