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Stock Market & Financial Investment News

News Breaks
April 30, 2014
08:37 EDTMOAltria to appeal reinstatement of Illinois “Lights” judgment of $10.1B
Philip Morris USA, a unit of Altria Group, said that it will seek immediate review by the Illinois Supreme Court of the appellate court decision to order reinstatement of the 2003 judgment in the Price “Lights” case. While that review is pending, the appellate court decision is stayed automatically. “The law does not allow the Fifth District to reopen a decision by the Illinois Supreme Court based on speculation about the possible impact of subsequent events on the higher court’s ruling. In addition, the Fifth District erred in ordering reinstatement despite the fact that the Illinois Supreme Court previously raised other problems with the judgment, including whether the case was properly certified as a class action,” said Murray Garnick, Altria Client Services senior vice president and associate general counsel, speaking on behalf of PM USA. The Illinois Supreme Court in 2005 overturned a $10.1B judgment against PM USA, which was imposed by former Madison County Circuit Judge Byron, sitting without a jury. “If the Illinois Supreme Court declines to review the case at this point, PM USA will pursue an appeal in the ordinary course, to which a $250M bond cap would apply,” Garnick added.
News For MO From The Last 14 Days
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April 27, 2015
07:13 EDTMOUBM Tech to hold a conference
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April 24, 2015
08:00 EDTMOAltria Group a top pick, should be bought, says Cowen
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April 23, 2015
07:16 EDTMOAltria reports PM USA Q1 domestic cigarettes shipment volume up 1.6%
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07:15 EDTMOAltria Group backs FY15 adjusted EPS view $2.75-$2.80, consensus $2.80
The company said: “Altria delivered strong operating and financial results in the first quarter, growing adjusted diluted EPS by 10.5% on the strength of our core tobacco businesses and their leading premium brands. In the smokeable segment, PM USA’s steady investments in Marlboro continued to strengthen the brand’s leadership position. In the smokeless segment, USSTC grew its volume, supported by retail share gains from Copenhagen and Skoal combined. And Nu Mark began shipping its next generation e-vapor product, MarkTen XL, into lead markets.”
07:14 EDTMOAltria Group reports Q1 adjusted EPS 63c, consensus 62c
Reports Q1 revenue ex-excise taxes $4.27B, consensus $4.13B.
April 22, 2015
15:55 EDTMOAltria Group technical notes before earnings
The shares had been in stable uptrend until hitting a recent peak in price in early March. That peak was at the 52-week high at $56.70. That high on good news would be the first test of resistance. A breakout above that high would see next probable upside at $58.96 and then at $60. The key level to watch if the news is bearish is at the $50 level. A breakdown below that level would confirm a snap of the longer-term uptrend. Next support levels to watch would be at $49.03, $47.88, and $46.72.
15:50 EDTMONotable companies reporting before tomorrow's open
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15:14 EDTMOEarnings Watch: Altria Group sees FY15 EPS of $2.75-$2.80
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April 17, 2015
06:36 EDTMOTeenagers' use of e-cigarettes tripled last year, NY Times says
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April 15, 2015
08:01 EDTMOU.S. traditional cigarette Q1 outlook strong, says Wells Fargo
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April 14, 2015
12:36 EDTMOTobacco companies file suit against FDA over labeling guidance, Reuters says
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12:19 EDTMOTobacco companies file suit against FDA over labeling guidance, Reuters says
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