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Stock Market & Financial Investment News

News Breaks
July 30, 2014
06:37 EDTBTI, LO, PM, MO, RAI, VGRReport says tobacco tax regulation lost U.S. revenue, Reuters says
A report from the U.S. Government Accountability Office said that a 2009 regulation that increased federal taxes to dissuade smoking actually cost the government billions of dollars in bygone revenue as firms relabeled products and clients moved to less expensive pipe tobacco and big cigars, according to Reuters, citing the watchdog agency's comments in the report along with comments from Liggett Vector Brands CEO Ronald Bernstein. Liggett Vector Brands is a unit of Vector Group (VGR). Publicly traded companies in the tobacco industry include Altria Group (MO), British American Tobacco (BTI), Lorillard (LO), Philip Morris (PM) and Reynolds American (RAI).
News For BTI;LO;PM;MO;RAI;VGR From The Last 14 Days
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September 29, 2014
06:41 EDTBTI, PM, RAI, MO, LOTobacco companies placing tough warnings on e-cigarettes, NY Times says
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September 26, 2014
10:01 EDTPMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
10:01 EDTMOOn The Fly: Analyst Upgrade Summary
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08:04 EDTPMPhilip Morris downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Philip Morris to Neutral from Buy. The firm downgraded shares based on prolonged dollar strength and lingering economic issues in developed and emerging markets. Price target lowered to $87 from $91.
08:00 EDTMOAltria Group upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Altria to Buy from Neutral. The firm expects Altria to benefit from steady U.S. fundamentals given and believes it could monetize its beer exposure if AB Inbev acquires SABMiller, which Altria has an investment in. Price target raised to $50 from $44.
07:43 EDTPMPhilip Morris downgraded to Neutral from Buy at BofA/Merrill
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07:41 EDTMOAltria Group upgraded to Buy from Neutral at BofA/Merrill
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September 24, 2014
12:12 EDTMOIllinois Supreme Court grants review of the Price case
The Illinois Supreme Court granted review in the Price case to decide whether its 2005 dismissal of that case against Philip Morris USA should remain in place. In April, an intermediate state appellate court overturned a decade-old decision of the Illinois Supreme Court dismissing the Price case. The appellate court further held that, as a result of the case being reopened, the original judgment should be reinstated. That decision remains stayed while on appeal. In 2003, a Madison Circuit Court judge sitting without a jury found that Philip Morris USA had deceived Illinois smokers in purchasing Marlboro Lights and Cambridge Lights cigarettes and imposed a $10.1B judgment. In 2005, the Illinois Supreme Court reversed the judgment in favor of Philip Morris USA.
September 22, 2014
07:58 EDTPMPhilip Morris estimates lowered on FX headwinds at Morgan Stanley
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September 19, 2014
09:53 EDTRAIRJ Reynolds Tobacco appoints Debra Crew Chief Commercial Officer
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