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Stock Market & Financial Investment News

News Breaks
June 27, 2014
05:42 EDTPMPhilip Morris files papers seeking review of EU tobacco directive
Subsidiaries of Philip Morris filed papers seeking review of the EUís Tobacco Products Directive by the Court of Justice of the European Union. Commenting on the matter, Marc Firestone, Senior Vice President and General Counsel of Philip Morris International, said: "We believe that the EUís Tobacco Products Directive disrupts the balance that the EU treaties establish between the Union and the Member States. The Directive claims to improve the internal market in tobacco products, but its provisions go in the opposite direction. The Directive includes a mix of product bans, mandates, and delegations of authority that raise serious questions under the EU Treaties about consumer choice, the free movement of goods, and competition. There is no disagreement that there should be strict regulation of tobacco products, but measures need to make sense and, above all, honor the EU treaties. We very much hope that this matter is referred to the EUís highest court for a careful, objective review."
News For PM From The Last 14 Days
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February 4, 2016
09:18 EDTPMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Glu Mobile (GLUU), up 21.9%... Solaredge Technologies (SEDG), up 11.2%... Cadence Design (CDNS), up 6.6%. ALSO HIGHER: VirnetX Holding (VHC), up 91.7% after the company won a $625.6M verdict in favor of in a patent infringement lawsuit against Apple (AAPL)... Viacom (VIAB), up 5.1% after CNBC's David Faber reported that sources said CEO Philippe Dauman is likely to be named Chairman despite objections from Shari Redstone. DOWN AFTER EARNINGS: GoPro (GPRO), down 16.4%... ConocoPhillips (COP), down 2.9%... Dunkin Brands (DNKN), down 2.1%... Philip Morris (PM), down 3.2%. ALSO LOWER: L Brands (LB), down 3.3% after providing Q4 guidance, reporting January Same-Store Sales were down 2%... MannKind (MNKD), down 8.1% after Piper Jaffray analyst Joshua Schimmer calls the company a penny stock with a mid-cap valuation.
07:03 EDTPMPhilip Morris sees FY16 EPS $4.25-$4.35, consensus $4.52
Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.60 for the full-year 2016, the reported diluted earnings per share range represents a projected increase of approximately 10% to 12% versus adjusted diluted earnings per share of $4.42 in 2015. This forecast does not include any share repurchases in 2016. The company will revisit the potential for repurchases as the year unfolds, depending on the currency environment. Estimates 2016 international cigarette volume, excluding the People's Republic of China and the U.S., to decline by approximately 2.0%-2.5%, in line with the estimated decline of 2.4% in 2015. CEO Andre Calantzopoulos said, "We enter 2016 with enhanced business fundamentals and ongoing strategic initiatives that will strengthen them further. While currency headwinds endure, we fully expect to continue to grow our business and generously reward our shareholders."
07:01 EDTPMPhilip Morris reports Q4 adjusted EPS 81c, consensus 81c
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February 3, 2016
14:48 EDTPMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
13:07 EDTPMPhilip Morris technical comments before earnings
The shares are trading near the 52-week high of $90.31 ahead of earnings. The $90 level has been resistance for the shares since the summer of 2013. If there is a breakout above $90 on strong news, next resistance would be at $91.63, $92.92, and $95.68. If the news is bearish, the $90 area is likely to remain as major resistance. Support levels to watch below $90 as potential downside objectives are at $88.06, $85.83, and $83.44.

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