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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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December 19, 2014
07:25 EDTPMPhilip Morris weakness overdone, says Wells Fargo
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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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08:10 EDTPMPhilip Morris downgraded to Reduce from Neutral at Nomura
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