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Aug 31, 1997

Smoked Out

With Big Tobacco lying in the weeds, can Wall Street can smoke 'em out?

Cigarettes may have not only killed the Marlboro Man, they've also started chipping away at the stock of the company he represented for 25 years. While the stock market continued to skyrocket this summer, Philip Morris and other tobacco companies which agreed to pony up over $370 bn in a class-action lawsuit settled in June weren't as lucky. So far, Philip Morris is down over five points from June 19, the day prior to the deal, through mid-July. Over the same time period, RJR Nabisco, owners

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