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Apple, Philip Morris, chips lead slide on Wall Street

The S&P consumer staples sector .SPLRCS declined 3.5 percent as Philip Morris plunged 16.5 percent after the tobacco company’s weak results and forecast. Philip Morris was the biggest drag on the S&P 500 and also dragged rival Altria (MO.N) down 7.8 per
Reuters
added Apr 19, 2018 23:57
6 Views

Philip Morris loses 16% in value in worst day since 2008

Investors soured on the stock despite a guidance boost after Philip Morris said shipments of heated tobacco units, which the company has been betting on for growth, more than doubled from a year ago but were down from the December quarter, while cigarett
Financial Times (uk)
added Apr 19, 2018 23:32
8 Views

Philip Morris Earnings: Is a 16% Plunge a Buying Opportunity?

Wells Fargo's Bonnie Herzog contends it is. Of particular interest was Philip Morris's choice of the word "plateau" to describe its iQOS sales in Japan, as well as concerns about a potential guidance cut in the month ahead. Herzog acknowledges these issue
Barron's
added Apr 19, 2018 23:31
5 Views

Why Shares of Altria Group, Inc. and Philip Morris International Fell Today

The company also raised its earnings per share forecast to $5.25-$5.40 due to a lower effective tax rate. Still, the reaction to the IQOS news makes it clear that tobacco stocks may no longer be the safe bet they have been for decades.
Motley Fool
added Apr 19, 2018 23:30
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Philip Morris Stock Sees Worst Day in a Decade on Declining Cigarette Volume ($$)

stock was on track for its worst percentage decline in a decade, dragging down other tobacco stocks as cigarette volumes dropped more than expected and the company’s IQOS product experienced slower growth.
The Wall Street Journal Interactive Edition
added Apr 19, 2018 23:29
2 Views

Philip Morris stock set for worst day in 10 years

Philip Morris International Inc.'s stock was on track for its worst percentage decline in a decade, dragging down other tobacco stocks as cigarette volumes dropped more than expected and the company's IQOS product experienced slower growth.
MarketWatch (Wall St. Journal)
added Apr 19, 2018 23:28
4 Views

SUTHERLAND: Philip Morris Deserves Its Reality Check

Bloomberg News
added Apr 19, 2018 23:27
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Tobacco

As a bank with sustainability at the core of our strategy, we recognise our duty to contribute to society’s wellbeing. ... ING will have withdrawn from the tobacco industry by 2023. This includes our exposure to the growing, trading, processing and manufa
ING (nl)
added Apr 19, 2018 19:53
12 Views

Philip Morris Results Stoke Global Tobacco Stock Sell-Off

The stock plunged the most on record, pushing shares of competitors including Imperial Brands Plc, Altria Group Inc. and British American Tobacco Plc deeper into negative territory for 2018. The latest results from the maker of Marlboro and other top cig
Bloomberg News
added Apr 19, 2018 19:08
11 Views

The London Report: UK-listed tobacco groups join slump

British American Tobacco and Imperial Brands slumped after Philip Morris said sales growth had slowed for its heated tobacco pipe, which raised fresh doubts about whether the companies’ next-generation products can compensate for declining cigarette sale
Financial Times (uk)
added Apr 19, 2018 16:42
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