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January 10, 2014
07:39 EDTPMPhilip Morris to invest up to EUR500M in reduced-risk product facility
Philip Morris announced an investment of up to EUR500M into its first manufacturing facility in the European Union and an associated pilot plant near Bologna, Italy to produce its potentially reduced-risk tobacco products. Once fully operational, the factory and pilot plant combined annual production capacity is expected to reach up to 30 billion units by 2016. “The development and commercialization of reduced-risk products represents a significant step toward achieving the public health objective of harm reduction, a potential paradigm shift for the industry, and an important growth opportunity for PMI. This first factory investment is a milestone in our roadmap toward making these products available to adult smokers," said André Calantzopoulos, PMI’s CEO. Construction on the new facility is expected to begin immediately and last approximately two years. Once fully operational it will employ up to 600 people. The pilot plant is already near completion and will serve as the production facility for pilot and initial market launches. Importantly, the majority of the construction and manufacturing equipment will be procured from Italian companies and further benefit the country’s economy. PMI’s investment in the development and rigorous scientific assessment of products with the potential to reduce the risks of smoking spans more than a decade. It encompasses a wide-range of tobacco and non-tobacco containing product platforms. In November 2013 PMI announced its plans to accelerate commercialization of one of its potentially reduced-risk products in the second half of 2014 in selected cities, prior to a full market launch in 2015.
News For PM From The Last 14 Days
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April 17, 2015
07:46 EDTPMPhilip Morris price target raised to $94-$96 from $87-$89 at Wells Fargo
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06:36 EDTPMTeenagers' use of e-cigarettes tripled last year, NY Times says
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April 16, 2015
16:21 EDTPMOn The Fly: Top stock stories for Thursday
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13:21 EDTPMPhilip Morris upgraded to Outperform from Market Perform at Cowen
12:37 EDTPMOn The Fly: Top stock stories at midday
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12:12 EDTPMPhilip Morris trades higher post-earnings, levels to watch
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10:04 EDTPMHigh option volume stocks
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09:36 EDTPMActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX NEE AMT WFM C PM INTC AA MCD
09:18 EDTPMOn The Fly: Pre-market Movers
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07:07 EDTPMPhilip Morris raises FY15 reported EPS view to $4.32-$4.42 from $4.27-$4.37
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07:04 EDTPMPhilip Morris reports Q1 adjusted EPS $1.16, consensus $1.01
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April 15, 2015
14:32 EDTPMPhilip Morris technical comments before earnings
The shares have been in a downtrend since a recent peak in price back in early November of last year. If the news is more bullish than traders appear to expect, the first level of significant resistance would be at $79.95 which is the 50-day moving average. A move back above that resistance line would see next upside at $81.08 and then at $82.57. Such moves would reverse the shorter-term trend to bullish. If the news continues to disappoint, the 52-week low at $75.27 would be first significant support. Looking at a 5-year chart, the important of the $75 area becomes clear. It was previously a pivot high in January 2012, and then support in early February of last year. A breakdown below this level would therefore have strongly bearish implications, setting a long-term topping process into motion. Support below $75 would be at $72.85.
08:07 EDTPMPhilip Morris April volatility elevated into Q1 and outlook
Philip Morris April call option implied volatility is at 49, May is at 16, June is at 15, September is at 14; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement into its expected release of Q1 results on April 16.
April 14, 2015
12:36 EDTPMTobacco companies file suit against FDA over labeling guidance, Reuters says
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12:19 EDTPMTobacco companies file suit against FDA over labeling guidance, Reuters says
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April 13, 2015
10:00 EDTPMOn The Fly: Analyst Downgrade Summary
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09:04 EDTPMPhilip Morris downgraded to Hold from Buy at Argus
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08:02 EDTPMPhilip Morris shares should be bought ahead of Q1 earnings, says Wells Fargo
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April 5, 2015
08:43 EDTPMAT&T, Philip Morris, eight others have reliable yields up to 5.7%, Barron's says
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