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Stock Market & Financial Investment News

News Breaks
March 7, 2014
06:22 EDTLO, ITYBY, RAI, BTICigarette manufacturers surge on deal discussions, FT says
Shares of Reynolds American (RAI) and Lorillard (LO) have surged this week on interest in a possible deal between the companies that together encompass 40% of the $90B U.S. tobacco market, reported the Financial Times. If Reynolds initiates a takeover bid for Lorillard, it could face counter-bids from companies like Imperial Tobacco (ITYBY). British American Tobacco (BTI) would also have a role since it owns 42% of Reynolds and holds five seats on the company's board. Reference Link
News For ITYBY;BTI;RAI;LO From The Last 14 Days
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January 21, 2015
09:37 EDTLOLorillard to host special shareholder meeting
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09:32 EDTRAIReynolds American to host special shareholder meeting
Special shareholder meeting to approve the issuance of shares of common stock to Lorillard shareholders as consideration in the merger of the two companies will be held on January 28 at 9 am.
January 20, 2015
10:44 EDTLO, RAIWells sees tobacco stocks as 'place to be' for 2015
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07:21 EDTLO, RAIWells Fargo calls Tobacco 'place to be,' upgrades Altria Group
Wells Fargo calls the U.S. Tobacco sector the "place to be" in consumer staples in 2015. Wells lists positive catalysts for the group as stronger pricing power, protection from currency risk and upside potential from e-cigarettes. The firm says Reynolds American (RAI) remains its top pick and it raised its price target range for shares to $79-$81 from $69-$71. Wells upgraded Altria Group (MO) to Outperform from Market Perform with an increased price target range of $56-$58. The firm also has an Outperform rating on Lorillard (LO). Wells has a "high conviction" that Reynolds' deal with Lorillard will be approved by the FTC in March or April.

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