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Cigarette Maker Altria's 2Q Profit Flat

posted flat second-quarter earnings Tuesday as higher prices helped to offset decline in the number of cigarettes it sold. The owner of the nation’s biggest cigarette maker, Philip Morris USA, also announced a new $1 billion share buyback program to be c
AP - Associated Press
added Jul 22, 2014 13:07
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Cigarette Shipment Volumes Weigh on Altria ($$)

Profit of $1.26 Billion Is Down Slightly From Year-Ago Period; Smokeless Products Remain Bright Spot
The Wall Street Journal Interactive Edition
added Jul 22, 2014 13:06
24 Views

Tobacco stocks fall after $23bn Reynolds ruling

Big tobacco stocks stumbled yesterday as investors expressed caution in the aftermath of the $23.6bn (£13.8bn) damages award levelled against Reynolds American by a US judge on Saturday.
City A.M. (uk)
added Jul 22, 2014 06:59
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Tobacco stocks burned by $23.6 billion judgment

Investors dropped other tobacco stocks, too, though the declines were not as steep as Reynolds'. Shares of Altria Group slipped about 2%. Philip Morris fell about 1% and Lorillard dropped nearly 3%.
KNXV-TV ABC 15 (Phoenix, AZ)
added Jul 21, 2014 13:21
35 Views

Why Big Tobacco Shrugs at a $24 Billion Verdict

Meanwhile, Reynolds, the No. 2 manufacturer, agreed this month to buy Lorillard (LO), the No. 3 competitor, for $25 billion. The savvy financial engineers behind that deal clearly see at least a short- and medium-term future of profitability in cigarette
Business Week/Bloomberg
added Jul 21, 2014 13:17
22 Views

Tobacco Stocks Slip On $23.6 Billion Verdict; Analysts Weigh In

Stifel analyst Christopher Growe said that the verdict appears to "complicate" the Reynolds acquisition of Lorillard in the short-term during the appellate process. Speaking on the acquisition, Morgan Stanley analyst David Adelman said Reynolds only gen
Benzinga.com
added Jul 21, 2014 13:14
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Reynolds leads tobacco stocks lower after $23.6 bln verdict

the case shows the industry that the public continues to find it responsible for smoking-related illnesses and deaths, the experts said. Reynolds shares were down 2.8% in premarket trade, making them the second-worst performer among S&P 500 stocks.
CBS MarketWatch
added Jul 21, 2014 13:09
16 Views

Phillip Morris: Will Collateral Damage From Reynolds American Judgment Create Opportunity?

* The cigarette industry is slowly declining, but the super-low cost of manufacturing cigarettes enables sustainably high ROICs across the industry and the customer base is extremely 'loyal.'.
Seeking Alpha blog network
added Jul 21, 2014 13:08
7 Views

[UK] Weaker tobacco, retail shares drag down FTSE, Tesco up

"Investors are concerned that if this verdict doesn't get quashed when it goes to appeal, then this could have severe implications for the entire industry," David Battersby, investment manager at Redmayne-Bentley, said.
Reuters
added Jul 21, 2014 12:38
3 Views

Stocks: 5 things to know before the open

Shares in tobacco giants Reynolds American (RAI) and Philip Morris International (PM) were falling heavily premarket after a Florida jury ordered R.J. Reynolds Tobacco to pay $23.6 billion to the widow of a long-time smoker who died of lung cancer.
CNN/Money
added Jul 21, 2014 12:36
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