Smoke Signals

A recent federal ruling against big tobacco seems to have been lost by the US government. The tobacco companies can no longer advertise "light" cigarettes, are forced to pay the government's legal fees, and will have to make "corrective statements" through advertising. But big tobacco will not have to pay any penalties. This will allow Altria (MO) (a stock that I own) to break itself up and spin off its Kraft Foods division. This is good news for shareholders as Altria's shares are up 3% in after hours trading.

Note: I am long Altria (MO)