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Stock Market & Financial Investment News

News Breaks
February 3, 2014
09:46 EDTMOAltria Group agrees to acquire e-vapor business of Green Smoke for $110M
Altria Group announced that its subsidiary, Nu Mark entered into an agreement to acquire the e-vapor business of Green Smoke and its affiliates for approximately $110M in cash, subject to closing adjustments, and up to $20M in incentive payments. Green Smoke's revenues for 2013 were approximately $40M. The agreement contains provisions to retain key management infrastructure and talent. Subject to closing conditions, Nu Mark anticipates that the transaction will be completed in the second quarter of 2014.
News For MO From The Last 14 Days
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January 29, 2015
09:21 EDTMOCalifornia 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 25, 2015
17:53 EDTMOWorries 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 20, 2015
10:44 EDTMOWells sees tobacco stocks as 'place to be' for 2015
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07:21 EDTMOWells 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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