Return to Transcripts main page
CNN Live At Daybreak
Wal-Mart Cracks Down on Minors Buying Tobacco
Aired October 01, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. The world's largest retailer is cracking down on under age tobacco buyers.
Carrie Lee has details from the Nasdaq market site.
Sounds strange, Carrie, what is it?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: It's a pretty big story for big tobacco, Carol. Wal-Mart has reached agreements with 43 states, including California, to adopt new procedures to reduce sales of tobacco and cigarettes to minors.
Now this is part of a big crackdown on retailers, as well as convenience stores, around the country that have been found to sell large volumes of tobacco to minors. So under this new deal, Wal-Mart is going to have to check the ID cards of anyone who appears to be under the age of 27, if they try to buy tobacco. Also use cash registers programmed to prompt ID checks on all tobacco sales. And also about 10 percent of Wal-Mart stores are going to be checked for compliance every six months. So these states are quite serious about it. Wal-Mart really having to change the way it sells tobacco products to everyone, especially people who look a little bit young.
Check on the futures this morning, looks like we could see a rebound after quite a sell off yesterday. The Nasdaq ended lower by just over 2 percent, a loss of 37 points. The Dow down 105 points. In fact, all of the major market indexes lost ground for the month of September.
Today we get a big manufacturing report coming out at 10:00 a.m. Eastern. That could influence the trading session. And one stock to watch is going to be software giant Microsoft. They just settled a class action lawsuit, paying $10.5 million -- I'm sorry, an antitrust lawsuit. This was brought on by customers who claimed that Microsoft used its monopoly power to overcharge them for direct purchases of software. So Microsoft in focus today in terms of stocks.
Carol, back to you.
COSTELLO: We'll be watching. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired October 1, 2003 - 06:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. The world's largest retailer is cracking down on under age tobacco buyers.
Carrie Lee has details from the Nasdaq market site.
Sounds strange, Carrie, what is it?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: It's a pretty big story for big tobacco, Carol. Wal-Mart has reached agreements with 43 states, including California, to adopt new procedures to reduce sales of tobacco and cigarettes to minors.
Now this is part of a big crackdown on retailers, as well as convenience stores, around the country that have been found to sell large volumes of tobacco to minors. So under this new deal, Wal-Mart is going to have to check the ID cards of anyone who appears to be under the age of 27, if they try to buy tobacco. Also use cash registers programmed to prompt ID checks on all tobacco sales. And also about 10 percent of Wal-Mart stores are going to be checked for compliance every six months. So these states are quite serious about it. Wal-Mart really having to change the way it sells tobacco products to everyone, especially people who look a little bit young.
Check on the futures this morning, looks like we could see a rebound after quite a sell off yesterday. The Nasdaq ended lower by just over 2 percent, a loss of 37 points. The Dow down 105 points. In fact, all of the major market indexes lost ground for the month of September.
Today we get a big manufacturing report coming out at 10:00 a.m. Eastern. That could influence the trading session. And one stock to watch is going to be software giant Microsoft. They just settled a class action lawsuit, paying $10.5 million -- I'm sorry, an antitrust lawsuit. This was brought on by customers who claimed that Microsoft used its monopoly power to overcharge them for direct purchases of software. So Microsoft in focus today in terms of stocks.
Carol, back to you.
COSTELLO: We'll be watching. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
