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Stock Market & Financial Investment News

News Breaks
December 18, 2012
11:32 EDTCIGX, RAI, BTI, MO, VGR, LO, PMCigarette 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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December 19, 2014
07:25 EDTPMPhilip Morris weakness overdone, says Wells Fargo
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December 15, 2014
06:27 EDTLO, RAILorillard, Reynolds investors to vote on merger on January 28, WSJ reports
Reynolds American (RAI) and Lorillard (LO) shareholders will vote on the proposed $25B merger on January 28, The Wall Street Journal reports. The FTC is continuing its antitrust review on the deal, and a ruling is expected in 1H15. Reference Link
December 10, 2014
09:53 EDTPMPhilip Morris says Chairman Louis Camilleri to retire on December 31
The company announces that Louis C. Camilleri, Chairman of the Board, will retire from employment with the company on December 31, 2014. Thereafter, Mr. Camilleri will serve as a non-employee Chairman of the Board. In this capacity, Camilleri will continue unchanged his role of facilitating communication between the Board of Directors and management, assisting the CEO in matters of long-term business strategy, and presiding at Shareholder and Board meetings. Thus, Camilleri’s retirement will not affect his leadership role as Chairman of the Board, and it will preserve his earned pension benefits at present levels which would otherwise be reduced under the company’s pension formula.
December 8, 2014
10:00 EDTPMOn The Fly: Analyst Downgrade Summary
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08:25 EDTRAIReynolds American CFO change not related to negative event, says RBC Capital
After Reynolds' CFO retired, RBC Capital says that the CFO's retirement appears to have been planned ahead of time and does not indicate any problems at the company. The firm keeps a Top Pick rating on the shares.
08:10 EDTPMPhilip Morris downgraded to Reduce from Neutral at Nomura
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