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Stock Market & Financial Investment News

News Breaks
December 18, 2012
11:32 EDTPM, MO, RAI, LO, BTI, CIGX, VGRCigarette makers fall following reports on EU tobacco directive
Shares of several companies that make cigarettes and other tobacco products are lower after reports detailed a draft of the European Union's Tobacco Products Directive, which is expected to be publicly unveiled on Wednesday. According to EurActiv, the draft revision of EU tobacco rules will propose larger health warnings on cigarette packaging and a total ban on flavorings such as menthol. Citigroup analyst Adam Spielman wrote in a note to investors yesterday that the draft recommends a ban on “special flavours,” citing a report from Europolitics, but it is unclear if this includes menthol, according to Spielman. The Citi analyst said the details of the draft that are being reported are similar to previous leaks but collectively represent "a harsh crackdown on marketing freedoms" for tobacco companies operating in Europe. Spielman added that the directive has not been finalized and some rules, particularly those around snus, may still be opposed and changed. Still, it seems likely that whatever version of the directive is passed will make tobacco industry innovation much harder, according to Spielman, and some volume of certain types of cigarettes may be lost depending on the bans that are implemented. Amid early day strength in the major indices, a number of tobacco names are weak, with Philip Morris (PM) down 0.87% to $86.63, Altria Group (MO) sliding 1.30% to $32.56, Lorillard (LO) falling 2.78% to $115.48 and Reynolds American (RAI) declining 1.84% to $42.09. However, Vector Group (VGR), which is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group and Vector Tobacco subsidiaries, rose 1% to $15.22.
News For PM;MO;RAI;LO;BTI;CIGX;VGR From The Last 14 Days
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October 16, 2014
07:07 EDTPMPhilip Morris narrows 2014 adjusted EPS growth outlook to 6.5%-7.5%
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07:04 EDTPMPhilip Morris reports adjusted Q3 EPS $1.39, consensus $1.33
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October 15, 2014
15:28 EDTPMNotable companies reporting before tomorrow's open
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October 14, 2014
14:01 EDTPMPhilip Morris October volatility elevated into Q3 and guidance
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October 10, 2014
10:01 EDTBTIOn The Fly: Analyst Downgrade Summary
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06:48 EDTRAI, PM, MO, LO, BTISenators call on FDA to adopt strict e-cigarette warning
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05:27 EDTBTIBritish American Tobacco downgraded to Sell from Neutral at Goldman
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October 6, 2014
08:09 EDTMOAltria Group price target raised to $53 from $47 at Cowen
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