Florida Supreme Court
refused to intervene in a class-action suit that sided with Florida smokers. The ruling in the
suit, which allows smokers to be awarded damages collectively instead of individually, leaves tobacco companies exposed to a potential multibillion-dollar judgment.
said tobacco companies would keep fighting to have the suit dismissed.
Penny stocks played more than tiddlywinks in after-hours trading on
Some of them played with seven-digit trading volumes.
topped the list, followed by
Technical Chemicals & Products
, which tacked more gains onto today's 56-point leap.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EST.
MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Morgan Stanley Dean Witter Online and Mellon Bank's (MEL) Dreyfus Brokerage Services. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 4:30 p.m. to 8 p.m. EST Monday through Thursday.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.
In other postclose news (earnings estimates from
First Call/Thomson Financial
; earnings reported on a diluted basis unless otherwise specified):
Mergers, acquisitions and joint ventures
said it would temporarily push back its $2 billion merger with
until mid-January. Dynegy said that the acquisition was held up due to the delayed sale of power projects to
El Paso Energy
, which is part of the merger's regulatory requirements.
Earnings/revenue reports and previews
Global Imaging Systems
warned that it expects to post third-quarter earnings of 18 cents to 20 cents a share, missing the six-analyst estimate of 26 cents. The company blamed the disappointing earnings on increasing debt, Y2K concerns and a drop in noncopier sales.
Nasdaq Stock Market
said short interest for the month ended Dec. 15 hit 2.32 billion shares, up from the month-ago report of 2.27 billion shares.