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This Day In Market History: Surgeon General First Warns Of Smoking Hazard
Monday, January 11, 2021 - 8:56am | 335Read More...Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened: On this day in 1964, the U.S. government issued its first health warning against cigarettes. Where Was The Market: The S&P 500 traded around 76.45, and the Dow traded near 766...
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Altria CEO Howard Willard Contracts Coronavirus, Takes Medical Leave
Friday, March 20, 2020 - 7:23am | 237Read More...An Altria Group (NYSE: MO) said in a Thursday 8-K filing that CEO Howard Willard has contracted the coronavirus and will take medical leave. Altria CFO William Gifford will take over as CEO until Willard returns. On Thursday, Altria also reported the temporary suspension of operations at its...
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Congress Passes Spending Bill That Raises Tobacco, E-Cigarette Buying Age To 21
Thursday, December 19, 2019 - 2:28pm | 554Read More...The age for buying tobacco and e-cigarettes will rise from 18 to 21 in the United States under a budget measure passed by Congress Thursday. Trump Plans To Sign Bill The measure, the most dramatic change in the tobacco product law in more than a decade, is part of a $1.4-trillion...
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Witi, Perrigo Partner To Help Smokers Overcome Nicotine Addiction
Thursday, November 7, 2019 - 1:09pm | 425Read More...Witi, a producer of medical-grade vaporization devices, announced Thursday it has partnered with Perrigo (NYSE: PRGO) to create a new smoking cessation product. The two companies plan to work on an electronic nicotine delivery system that would later be submitted for approval by the FDA...
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Altria Takes $4.5B Writedown On Juul Investment
Thursday, October 31, 2019 - 10:06am | 390Read More...Cigarette and tobacco company Altria Group Inc (NYSE: MO) said in conjunction with its third-quarter report that it took a $4.5-billion pretax charge against its earnings from its investment in e-cigarette maker Juul. What Happened Altria said in its earnings release that a decision to...
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Altria, Philip Morris Discuss Reunion Merger: Analyst Says Deal Makes 'Strategic Sense'
Tuesday, August 27, 2019 - 11:49am | 357Read More...Cigarette maker Philip Morris International Inc. (NYSE: PM) said Tuesday it's in discussions about the possibility of reuniting with industry leader Altria Group, Inc. (NYSE: MO) in a possible blocbuster all-stock merger that would create a massive $200-billion-plus company...
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UBS Looks At The Good And Bad From Altria's Q2
Tuesday, July 30, 2019 - 12:37pm | 303Read More...Cigarette company Altria Group Inc (NYSE: MO) reported second-quarter results that showed mixed trends, according to UBS. The Analyst UBS analyst Robert Rampton maintains a Neutral rating on Altria with a $52 price target. The Thesis Altria's quarter was highlighted by better-than-expected...
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Philip Morris COO Reaffirms Commitment To Smoke-Free Future
Tuesday, June 18, 2019 - 2:30pm | 392Read More...The Food and Drug Administration's proposal to enact a "maximum nicotine" rule by 2035 is a "good intervention" so long as consumers have alternatives, Philip Morris International Inc. (NYSE: PM) COO Jacek Olczak told Fox Business News in a Tuesday interview. What...
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Why Tobacco Stocks Are Trading Down Wednesday
Wednesday, June 12, 2019 - 10:13am | 466Read More...Tobacco and cigarette makers were trading mostly lower Wednesday morning after British American Tobacco PLC (NYSE: BTI) — the world's second-largest tobacco company — issued a sales warning. What Happened British American Tobacco said in a news release Wednesday...
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Tobacco Stocks Trading Lower After Nielsen Data Shows Drop in Cigarette Sales
Wednesday, May 29, 2019 - 7:03am | 270Read More...Shares of the big three tobacco stocks continued trading lower after Nielsen data published Tuesday showed a drop in cigarette sales for the four-week period ended May 18. Earlier Tuesday morning, Philip Morris International (NYSE: PM) said “World No Tabacco Day” should be “World...
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McConnell Proposes Raising Smoking Age To 21, Tobacco Stocks Flicker
Thursday, April 18, 2019 - 11:50am | 386Read More...Senate Majority Leader Mitch McConnell said Thursday he’ll introduce legislation to raise the legal age to buy tobacco to 21. McConnell, a Republican who represents the traditional tobacco-producing state of Kentucky, said raising the age from 18 will be a top priority for the Senate when it...
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Markets React Amid Report FDA Commish Scott Gottlieb Will Resign
Tuesday, March 5, 2019 - 3:39pm | 500Read More...U.S. Food and Drug Commissioner Scott Gottlieb is resigning, The Washington Post reported Tuesday afternoon. Gottlieb, a physician, former banker and venture capitalist, had made youth vaping his focal issue on the FDA. A former advisor to pharmaceutical companies, Gottlieb was initially criticized...
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Wells Fargo Expects Tobacco Stocks To 'React Favorably' To Price Increases
Thursday, February 21, 2019 - 3:51pm | 440Read More...Tobacco giants Altria Group Inc (NYSE: MO) and Philip Morris International Inc. (NYSE: PM) are raising prices on all of their cigarette brands, and investors should take this as a positive, according to Wells Fargo. The Analyst Wells Fargo's Bonnie Herzog maintains an Outperform rating on...
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Analysts: Altria's Juul Stake A Good Hedge, But Lack Of Control Presents Risks
Friday, December 21, 2018 - 12:14pm | 880Read More...Altria Group Inc (NYSE: MO) announced a $12.8-billion minority stake in Juul Thursday. The stock has fallen since traders began digesting the deal, but many analysts maintain that the investment improves Altria’s positioning in a tough regulatory environment as consumer preferences shift....
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Marlboro Maker Altria Takes 45% Stake In Cronos Group
Friday, December 7, 2018 - 8:11am | 485Read More...Shares of Cronos Group Inc (NASDAQ: CRON) soared 25 percent Friday morning after the Canada-based cannabis company confirmed it received a C$2.4 billion ($1.8 billion) investment from cigarette company Altria Group Inc (NYSE: MO). Rumors of a potential acquisition between the two companies were...
