New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 18, 2014
06:41 EDTPM, BTI, JAPAF, ITYBYE.U. regulations aim to track, trace tobacco products, Reuters says
The E.U. is asking tobacco firms Philip Morris (PM) British American Tobacco (BTI), Japan Tobacco (JAPAF) and Imperial Tobacco (ITYBY) to do more to track and trace their products in order to tackle a huge black market and prevent some of the deaths linked to smoking-related diseases, reported Reuters. The legislation takes effect over the next two years, but the large international tobacco companies already use a track and trace system called Codentify and do not want to add an expensive third-party system to their operations. Reference Link
News For PM;BTI;JAPAF;ITYBY From The Last 14 Days
Check below for free stories on PM;BTI;JAPAF;ITYBY the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 17, 2014
07:04 EDTPMPhilip Morris says FY14 adjusted EPS growth could be at low end of 6%-8% range
Subscribe for More Information
07:02 EDTPMPhilip Morris backs FY14 reported EPS view $4.87-$4.97
Subscribe for More Information
07:00 EDTPMPhilip Morris reports Q2 adjusted EPS $1.41, consensus $1.24
Subscribe for More Information
July 16, 2014
15:27 EDTPMNotable companies reporting before tomorrow's open
Subscribe for More Information
08:20 EDTPM, BTICigarette makers focus on heavy users, seek growth from e-cigs, WSJ says
Subscribe for More Information
06:38 EDTPM, BTIE-cigarettes being sold in many flavors, NY Times says
Tobacco companies are offering e-cigarettes with hundreds of different flavors, such as banana cream pie and cotton candy, according to The New York Times. The FDA has banned most flavors in regular cigarettes, and the agency is studying the marketing and flavors of e-cigarettes, the newspaper noted. Publicly traded companies in the space include Altria Group (MO), British American Tobacco (BTI), Lorillard (LO), Philip Morris (PM) and Reynolds American (RAI). Reference Link
July 15, 2014
16:40 EDTITYBYOn The Fly: Closing Wrap
Subscribe for More Information
07:20 EDTITYBYImperial Tobacco to acquire U.S. cigarette brands owned by Lorillard for $7.1B
Subscribe for More Information
07:15 EDTBTIBritish American to invest $4.7B in Reynolds-Lorillard deal, suspend buyback
Subscribe for More Information
07:12 EDTBTIBritish American Tobacco to suspend GBP1.5B buyback program from July 30
Subscribe for More Information
07:12 EDTBTIBritish American Tobacco to invest $4.7B as part of Reynolds-Lorillard deal
July 11, 2014
12:08 EDTBTI, ITYBYLorillard jumps after confirming buyout talks with Reynolds
Subscribe for More Information
10:00 EDTPMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Altria Group (MO) initiated with an Outperform at Cowen... Berkshire Hills Bancorp (BHLB) initiated with a Hold at Jefferies... CGI Group (GIB) initiated with an Outperform at Credit Suisse... Halozyme (HALO) initiated with an Overweight at JPMorgan... Lorillard (LO) initiated with an Underperform at Cowen... MacroGenics (MGNX) initiated with an Outperform at Oppenheimer... Philip Morris (PM) initiated with a Market Perform at Cowen... Prothena (PRTA) initiated with an Outperform at Oppenheimer... Reynolds American (RAI) initiated with a Market Perform at Cowen... Seventy Seven Energy (SSE) initiated with a Buy at Wunderlich... SouFun (SFUN) initiated with a Neutral at Macquarie... Sprouts Farmers Markets (SFM) initiated with a Neutral at Longbow... Sterling Bancorp (STL) initiated with a Buy at Jefferies... Xencor (XNCR) initiated with an Outperform at Oppenheimer... YPF (YPF) initiated with a Neutral at JPMorgan... iGATE (IGTE) initiated with an Outperform at William Blair.
06:04 EDTITYBYImperial confirms talks with Reynolds, Lorillard over asset acquisition
Imperial Tobacco (ITYBY) notes the recent speculation relating to a potential transaction involving Reynolds American (RAI) and Lorillard (LO). Imperial confirmed it is in discussions with Reynolds and Lorillard to evaluate a possible acquisition of certain assets and brands owned by Reynolds and Lorillard. Earlier today, Financial Times reported that Reynolds and Lorillard are close to a merger agreement.
05:54 EDTITYBY, BTIReynolds American, Lorillard close to merger agreement, FT reports
According to the Financial Times, Reynolds American (RAI) and Lorillard (LO) are close to agreeing on a merger. The companies, which would have a combined market capitalization of $56B, have agreed with British American Tobacco (BTI), which holds a 42% stake in Reynolds, on key elements of the deal, including price. The companies are currently finalizing details on which production facilities and cigarette brands would be disposed of to ease antitrust concerns. Reference Link
July 10, 2014
17:52 EDTPMPhilip Morris initiated with a Market Perform at Cowen
Subscribe for More Information
July 9, 2014
12:42 EDTBTILorillard, Reynolds deal still most likely outcome, says Wells Fargo
After it was reported that British American Tobacco (BTI) is potentially in talks to acquire the 58% of Reynolds American (RAI) that it doesn't own, Wells Fargo says it still believes a combination between Reynolds and Lorillard (LO) remains the most likely outcome. The firm thinks Susan Cameron was not brought back to run Reynolds to help facilitate a sale transaction to BAT. Wells recommends buying shares of Lorillard on any pullback should a deal between BAT and Reynolds be announced, as it thinks that ultimately a transaction to buy Lorillard would likely follow.
12:30 EDTBTIOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
11:25 EDTITYBY, BTIReynolds rises as BAT said to contemplate total takeover
Shares of cigarette manufacturer Reynolds American (RAI) are higher this morning following a report that British American Tobacco (BTI) is close to a deal to buy the stake in Reynolds it does not already own. WHAT'S NEW: The Daily Mail reported that British American Tobacco, which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the 58% of its U.S. peer that it does not already own. WHAT'S NOTABLE: A deal for Reynolds, whose brands include Kill, Camel, Winston and Salem, by British American Tobacco would stop any plans Reynolds might already have to buy Lorillard (LO), which makes Newport menthol cigarettes and electronic cigarettes. CNBC's David Faber said on July 3 that Reynolds was on track to buy Lorillard "within weeks," and added that Imperial Tobacco (ITYBY) would likely buy some of the divested assets as a result of the transaction. Faber noted at the time that British American Tobacco was likely to build a position in Reynolds. ANALYST REACTION: According to the Daily Mail, Citigroup has said it would be "advantageous" for British American Tobacco to acquire all of Reynolds, as its earnings per share would be boosted by 10%-13% and give it access to "one of the best" global e-cigarette platforms. The firm believes a total acquisition would allow British American Tobacco "total freedom" to deploy Reynolds' intellectual property on e-cigarettes. PRICE ACTION: Reynolds American shares are up $1.62, or 2.64%, to $62.93 in mid-morning trading. Meanwhile, British American Tobacco shares trading in New York are down 46c to $121.51 and Lorillard is up 40c to $63.33.
07:26 EDTBTIBritish American rumored 'on verge' of deal to buy out Reynolds, Daily Mail says
British American Tobacco (BTI) is speculated to be "on the verge of a mega deal" to buy the 58% cigarette peer Reynolds American (RAI) that it does not already own, according to the Daily Mail. By doing so, it would stop any plans Reynolds might have to buy another company in the industry, Lorillard (LO), according to the report. Reference Link
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use