Philip Morris, Scana, Unitedhealth, Wellcare Achieve New 52-Week Stock Price Highs

Philip Morris (NYSE:PM): The U.S. Food and Drug Administration released two separate draft guidance documents to help fight the tobacco epidemic and stop children from using tobacco. The draft guidance documents implement provisions of the Family Smoking Prevention and Tobacco Control Act that will ultimately provide the public with previously unknown information about the chemicals in tobacco products and help prevent misleading marketing about the risks associated with tobacco products. The first document provides guidance on how companies will comply with the requirement to report on the quantities of potentially harmful chemicals in tobacco products. The second document provides guidance to companies that seek to advertise or market a tobacco product as less harmful or associated with reducing the risk of tobacco-related disease. The FDA also issued draft guidance on submitting applications to sell modified risk tobacco products. Modified risk tobacco products are tobacco products that are sold, distributed, or marketed with a claim to reduce harm or the risk of tobacco-related disease. The draft guidance describes scientific studies and analyses an applicant should submit to demonstrate its product will, or is expected to, significantly reduce harm or exposure to individuals, and benefit the health of the population as a whole. The shares closed at $88.61, up $1.96 or 2.26% on the day. They have traded in a 52-week range of $60.45 to $88.51.

Scana Corp. (NYSE:SCG): South Carolina Electric & Gas Company, principal subsidiary of SCANA Corporation, and Santee Cooper, South Carolina’s state-owned electric and water utility, confirmed that they have received approval for combined construction and operating licenses from the Nuclear Regulatory Commission for two new nuclear units at V. C. Summer Station in Jenkinsville, S.C. The shares closed at $45.61, down $0.04 or 0.09% on the day. They have traded in a 52-week range of $34.64 to $45.85.

Unitedhealth Group (NYSE:UNH): Both sides arguing about the constitutionality of the healthcare reform law before the Supreme Court are making special efforts to persuade Justice Anthony Kennedy, the court’s swing vote who will determine the fate of the law, according to The New York Times. Kennedy’s “guiding principle” is liberty, and both sides in the case are arguing that their position advances liberty, the newspaper notes. The shares closed at $58.94, up $0.83 or 1.43% on the day. They have traded in a 52-week range of $41.27 to $58.32.

Wellcare Group (NYSE:WCG): The Supreme Court appeared unlikely to invoke a 19th century law in order to delay deciding on the constitutionality of the health care insurance law for several years, according to Reuters. The news service based its conclusion on statements made by the nine Supreme Court justices during the first day of the court’s discussions about the law today. They have traded in a 52-week range of $33.29 to $71.54.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

More from The Cheat Sheet