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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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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, Camilleriís 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 companyís 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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