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Stock Market & Financial Investment News

News Breaks
June 26, 2014
05:27 EDTPMPhilip Morris lowers 2014 EPS outlook to $4.87-$4.97 from $5.09-$5.19
Philip Morris revises its 2014 diluted EPS forecast to be in a range of $4.87 to $4.97, versus $5.26 in 2013, compared to a range of $5.09-$5.19 as previously announced on May 7. The consensus estimate is $5.25. The company said, "We continue to face significant currency headwinds, an improving but weak macro-economic environment in the EU and known challenges in Asia, partly offset by a robust performance in a number of markets and the contribution of our business development initiatives. Furthermore, we have recently witnessed significant price discounting at the low end of the market in Australia which, were it to persist, could lead us to be at the lower end of our 2014 guidance for full-year currency-neutral adjusted diluted EPS growth of 6%-8." Philip Morris said its management will offer its perspective on the company’s business outlook and long-term growth strategies at a two-day investor meeting starting today.
News For PM From The Last 14 Days
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July 29, 2015
14:14 EDTPMBAT sees 'plain packaging' legal hearing in December, Reuters says
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July 28, 2015
14:09 EDTPMAltria, Philip Morris could be ripe for recombination, Bloomberg says
The justification for splitting Altria (MO) and Philip Morris (PM) roughly seven years ago "no longer exists" and it may be time to look at a combination, reports Bloomberg Real M&A, noting that the two companies lag behind Reynolds American (RAI) after its recent acquisition of Lorillard. The report notes that the firms have already partnered on product developments in recent months, though a Philip Morris spokesperson told Bloomberg that "many of the reasons articulated by the board at the time of the spinoff are still relevant today." Reference Link
13:17 EDTPMEarnings Watch: Analysts bullish on Altria, seen as 'top pick' by Cowen
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