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Stock Market & Financial Investment News

News Breaks
May 19, 2014
05:38 EDTMO, RAIAltria Group downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Altria Group (MO) to Market Perform saying the company "has the most to lose" as consumption of vapor surpasses consumption of combustible cigarettes over the next decade. Wells keeps a $41-$43 price target range for shares. The firm coupled the downgrade with an upgrade of Reynolds American (RAI).
News For MO;RAI From The Last 14 Days
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January 29, 2015
09:21 EDTRAI, MOCalifornia regulators call for e-cigarette restrictions, CNBC says
The California Department of Public Health declared Wednesday that electronic cigarettes are a health threat that should be regulated, says CNBC, citing the department's health report. The report claims e-cigarettes cause nicotine addiction and emit carcinogens, and the department is calling for "protections" against accidental nicotine ingestion, funds for an education campaign, and regulations on the sale and marketing of the product. Publicly traded companies in the space include Lorillard (LO), Reynolds American (RAI), Altria (MO), Vector (VGR), and Philip Morris (PM). Reference Link
January 28, 2015
10:19 EDTRAILorillard investors approve combination with Reynolds American
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09:37 EDTRAIReynolds American approves share issuances in connection with Lorillard deal
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January 25, 2015
17:53 EDTRAI, MOWorries persist on Reynolds-Lorillard deal getting FTC approval, WSJ says
Shareholders are expected to approve the combination of tobacco companies Reynolds-American (RAI) and Lorillard (LO) this week but the real concern for the deal that will result in a formidable competitor to rival Marlboro maker and market leader Altria Group (MO) is whether the FTC approves of the deal, says the Wall Street Journal. British American Tobacco (BTI), which owns 42% of Reynolds, agreed to vote for the deal which will make the third party to the deal, Imperial Tobacco Group (ITYBY), the No. 3 player in the U.S.,as Imperial agreed to pay $7B for Reynolds’ Winston, Salem and Kool brands and Lorillard’s Maverick cigarette and Blu e-cigarette brands, added the Wall Street Journal report. Reference Link
January 21, 2015
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 EDTMO, RAIWells sees tobacco stocks as 'place to be' for 2015
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07:21 EDTRAI, MOWells 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.
06:23 EDTMOAltria Group upgraded to Outperform from Market Perform at Wells Fargo
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January 15, 2015
12:29 EDTMOFollow-up: Altria Group upgraded at Nomura
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12:12 EDTMOAltria Group upgraded to Buy from Neutral at Nomura
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