Florida Court Overturns $145 Billion Award Against Tobacco Firms

The Florida Supreme Court upheld an appeals court ruling that overturned a $145 billion punitive damage award against major tobacco companies sending shares of cigarette makers soaring. Altria Group Inc. (MO) stock surged $4.43 to close at $77.76 while shares of Reynolds American Inc. (RAI) jumped $4.59 to close at $118.95. Shares of Carolina Group (CG) climbed $2.81 to close at $53.99.