Philip Morris shutting down production in Netherlands, WSJ reports Phillip Morris will shut down its manufacturing in Bergen op Zoom, its largest production facility worldwide, the Wall Street Journal reports. The closure will result in 1,230 job losses, nearly 90% of its workforce there. Production will move to other factories in Europe. Reference Link
Philip Morris initiated with a Neutral at JPMorgan JPMorgan earlier today started shares of Philip Morris with a Neutral rating and $90 price target. The firm expects the strong U.S. dollar to continue pressuring the company's earning and limit cash returns.