Sorry its a joke. They upgraded PM + downgraded MO, 1 reason valuation. PM has gone up more 52 week, has a higher forward P/E, carries 25BB debt vs 10 BB for MO. They also said FX would be better, while the fed is already saying another raise is near, hence higher $. Britian is still pondering a plain package as are others. MO has their stake in SAB which more than covers the debt and is still the largest player in the US. Payout ratio is also higher. I like both but of the 2 PM is over valued at these levels.
JetBlue guided for a Q2 drop of 7% for the closely-watched revenue per available seat mile metric. Capacity is seen rising 9.5% to 11.% during the quarter. During the earnings call, execs tipped off some mild back-half capacity constraint with the full-year forecast for capacity growth standing at 8.5% to 10.5%.