Thrifty shoppers rule
Thrifty shoppers are looking for deals, benefitting stores which cater to lower prices amid a tough recession. Family Dollar Stores reported a 36 percent in quarterly profit on Monday, sending its shares up 10 percent. “[C]onsumers look for value oriented offerings and obviously, that’s Family Dollar’s sweet spot,” said Edward Jones analyst Matt Arnold, according to Reuters.
Upset smokers sue again
Three Tennessee residents are fuming against cigarette companies for their use of “light” or “ultra light” on smoking cartons, bringing a lawsuit accusing the companies of false and misleading advertising. Altria Group Inc and Reynolds American Inc are were accused today in Federal court in Tennessee of knowing that cigarettes with those labels don’t reduce risks to smokers, according to Bloomberg.
Hospitals chip in to Health Reform
The hospital industry’s HCA Inc and Community Health Systems Inc were the two major firms which said on Wednesday they would help in reaching President Obama’s goal to cut costs by $155 billion over 10 years, according to Bloomberg.