36.50 -0.01 (-0.03%)
After hours: 4:03PM EST
|Bid||36.26 x 1100|
|Ask||36.99 x 3000|
|Day's Range||36.25 - 37.67|
|52 Week Range||36.25 - 71.44|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||1.65|
|Forward Dividend & Yield||2.72 (6.51%)|
|1y Target Est||53.86|
This article was produced in partnership with Point, a YouTube channel for investigative journalism. British American Tobacco (BAT) -- the third-largest publicly traded tobacco company in the world -- is engaged in an elaborate and ethically questionable online-marketing strategy across Europe and Asia. Dunhill and Kent cigarettes are among the BAT labels benefitting from spinout brands in South Korea, Romania and Switzerland.
E-cigarette startup Juul Labs Inc. said it is shutting down its Facebook and Instagram accounts and curbing its use of other social media in the U.S., part of the company’s response to the Food and Drug Administration’s call for changes to curb underage e-cigarette use. Sales of Juul’s vaporizers and flavored nicotine liquids have surged over the past year, fueled in part by the product’s popularity among teenagers and children. Its rapid growth was helped by the San Francisco company’s use of social media to advertise its products as well as by user-generated posts that glamorized Juul.
The Food and Drug Administration is set on introducing restrictions on the sale of electronic cigarettes, including prohibiting most flavored products in convenience stores and gas stations, The Washington Post reported Nov. 8. The Wall Street Journal followed up with its own report Friday that said the FDA could propose a ban on menthol cigarettes.
Juul said it will stop selling most of its flavored nicotine pods for its e-cigarettes in retail stores — though only temporarily. The company plans to resume sales to retailers that adopt the company's new age restrictions and verification system. Juul said it will stop selling most of its flavored nicotine pods for its e-cigarettes in retail stores — though only temporarily — as it tries to appease federal regulators who have ordered the company to help reduce "epidemic" levels of teen use.
Stocks that moved substantially or traded heavily Monday: Coty Inc., up 16 cents to $8.65 The struggling cosmetics company named a new CEO and chairman. Athenahealth Inc., up $11.62 to $131.97 The struggling ...
Stocks fell, the dollar rose and domestic oil prices slipped for the eleventh consecutive day, marking the longest losing streak on record.
European shares were lower on Monday led by a sell-off in technology stocks after earnings and M&A news from German heavyweights Infineon and SAP, and tobacco was hit by new signs of U.S. regulators tightening the screws on menthol cigarettes. News that Banca Carige has around 400 million euros to plug a hole in its capital base also underscored concerns about the health of the banking sector in the 3rd largest euro zone economy. Technology stocks, among the worst hit by sell-offs in past weeks, were the biggest sectoral fallers, down 3.7 percent.
FDA Commissioner Dr. Scott Gottlieb plans to announce this week the agency will move forward with a ban on menthol cigarettes, senior FDA officials told CNBC last week. British American Tobacco, Imperial Brands and Altria shares fell Monday. Tobacco stocks slid Monday as investors feared the consequences of a possible ban on menthol cigarettes, which the U.S. Food and Drug Administration is expected to propose this week.
A senior U.S. Food and Drug Administration official said last week that the agency is looking at restricting menthol in traditional cigarettes. Doing so would be a step toward eliminating or tightly limiting use of the popular cigarette flavor, something the FDA has been considering for some time. An Altria spokesman said Monday it was premature to comment absent an FDA announcement.
A report that U.S. regulators may ban menthol cigarettes was enough to send British American Tobacco Plc shares tumbling on Monday, erasing about $10 billion of market value. About a quarter of BAT’s profit comes from U.S. menthol products, compared with 20 percent at Altria Group Inc., and 15 percent of Imperial Brands Plc, according to Jefferies analysts. BAT’s net income is expected to be about 6.7 billion pounds ($8.6 billion) this year, according to Bloomberg data.
Shares of tobacco companies were hit hard again in premarket trade Monday, adding to the previous session's losses, after The Wall Street Journal reported that the Food and Drug Administration was planning to propose a ban on menthol cigarettes. Wells Fargo analyst Bonnie Herzog recommended buying the cigarette maker stocks on the dip, however, as she believes an outright ban of menthols "is very unlikely." Altria's stock slumped 3.0% ahead of the open, after dropping 3.0% on Friday, while the U.S.-listed shares of British American Tobacco PLC tumbled 7.7% after falling 4.2% on Friday. Philip Morris International Inc. shares shed 0.7% premarket after slipping 0.3% on Friday. The WSJ reported late Friday that while FDA Commissioner Scott Gottlieb plans to pursue a ban on menthols, citing senior agency officials, it could take a year or more to have the ban finalized. The move would come after the FDA concluded in 2013 that menthols are harder to quit, the WSJ report said. Wells Fargo's Herzog said she doesn't believe science supports the assertion that menthols are more harmful than non-menthols. "Bottom line, we encourage [long-term] oriented investors to take advantage of any [near-term] weakness in tobacco stocks (especially [Altria]) from this potential negative headline," Herzog wrote in a note to clients. Altria's stock has lost 7.4% over the past three months while the S&P 500 has lost 1.8%.
led the FTSE 100 fallers on reports that the US would ban menthol cigarettes, which provide about a quarter of its group profit. was the FTSE 250’s sharpest faller after Berenberg advised selling. A weak online presence and a strained relationship with suppliers meant the retail group looked vulnerable to competition from Amazon, said Berenberg, which also argued that Sports Direct’s strategy lacked clarity.
Shares in British American Tobacco slid as much as 11 per cent on Monday to their lowest point since 2014 as US regulators draw up plans to ban menthol cigarettes. Investors reacted with alarm to the possible move by the Food and Drug Administration against a product that accounts for about a third of industry sales, even though analysts played down the prospect that an outright ban could survive a legal challenge from the tobacco industry. The FDA has been considering tough restrictions on the menthol flavour, warning that it carries more health risks because it may make it harder to quit cigarettes.