Friday: Action in Philip Morris Medicaid Suit

Author:: Joe Bousquin
Publish date:: May 30, 1997 6:00 PM EDT

Compiled by John J. Edwards III
Staff Reporter

The frenzy of excitement and dread spurred Friday morning by

Intel

gave way by the close to a certain calm. Just the way to ease into the weekend. Enjoy it, and enjoy these post-close morsels:

Philip Morris

(MO) - Get Report

said a Mississippi suit seeking Medicaid reimbursement for smoking-related costs won't be tried before a jury. The cigarette merchant said it was "disappointed" with the court decision.

Telxon

(TLXN)

said it would close a Toronto facility as part of a plan to generate $10 million in annual savings.

Echlin

(ECH) - Get Report

said it ended its talks with

AlliedSignal

(ALD)

, which was considering buying Echlin's

Midland-Grau

heavy-duty brake operations.

A group of 144 physicians at

Palmetto General Hospital

in Hialeah, Fla., said they are suing

Tenet Healthcare

(THC) - Get Report

for breach of contract and other alleged offenses.

Herman Miller

(MLHR) - Get Report

said it approved the buyback of an additional 2 million shares. The company also said it finished the previously announced disposal of its German manufacturing operations.

In other buyback news,

First Bancshares

(FBSI)

said it plans to repurchase 108,523 shares. That's about 10% of its outstanding stock.