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Stock Market & Financial Investment News

News Breaks
February 25, 2013
06:06 EDTPM, BTIJapan government to sell 16.6% of its shares in Japan Tobacco, WSJ reports
Japan's government is planning to reduce its stake in Japan Tobacco, potentially raising about $10B to help pay for reconstruction projects related to the March 2011 earthquake and nuclear disaster, reports the Wall Street Journal. The Finance Ministry said it plans to sell 333.33M shares, or 16.6% of its outstanding shares, next month. As a result, the government's stake will fall to about a third of the company from half now. The offer price will be determined between March 11 and March 13. Reference Link
News For PM;BTI From The Last 14 Days
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July 17, 2014
07:07 EDTPMPhilip Morris reports Q2 cigarette shipment volume down 2.7% to 222.8B units
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07:04 EDTPMPhilip Morris says FY14 adjusted EPS growth could be at low end of 6%-8% range
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07:02 EDTPMPhilip Morris backs FY14 reported EPS view $4.87-$4.97
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07:00 EDTPMPhilip Morris reports Q2 adjusted EPS $1.41, consensus $1.24
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July 16, 2014
15:27 EDTPMNotable companies reporting before tomorrow's open
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08:20 EDTBTI, PMCigarette makers focus on heavy users, seek growth from e-cigs, WSJ says
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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
07:15 EDTBTIBritish American to invest $4.7B in Reynolds-Lorillard deal, suspend buyback
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07:12 EDTBTIBritish American Tobacco to suspend GBP1.5B buyback program from July 30
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07:12 EDTBTIBritish American Tobacco to invest $4.7B as part of Reynolds-Lorillard deal
July 11, 2014
12:08 EDTBTILorillard jumps after confirming buyout talks with Reynolds
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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.
05:54 EDTBTIReynolds 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

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