|Bid||0.00 x 800|
|Ask||0.00 x 1400|
|Day's Range||56.21 - 57.26|
|52 Week Range||53.91 - 74.38|
|Beta (3Y Monthly)||-0.06|
|PE Ratio (TTM)||10.20|
|Earnings Date||Jan 30, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||3.20 (5.05%)|
|1y Target Est||67.29|
The FDA is planning to ban menthol cigarettes. A record number of U.S. citizens applied for asylum in Canada last year. The veteran involved in scamming people out of $400,000 is missing. Hidden Valley is releasing a $25 magnum of ranch. Yahoo Finance's Adam Shapiro discusses.
It is 54 years since the US surgeon general estimated the average smoker was almost 10 times as likely to die of lung cancer as a non-smoker, and 18 years since a class-action lawsuit resulted in a record — albeit subsequently overturned — $145bn damages award against Big Tobacco. “I think it’s as big of a milestone, and builds off those earlier milestones,” said Joelle Lester, director of tobacco control for the Public Health Law Center, which has led several campaigns against the industry. The cancer survivor and former physician said he planned to ban menthol cigarettes and flavoured cigars — and severely restrict the availability of flavoured ecigarettes to locations off limits to anyone under 21.
As a reaction to the proposed plan of the U.S. Food and Drug Administration to ban menthol cigarettes Thursday, shares of sellers collapsed on the stock market. Altria Group Inc. (MO) declined 10% to $57.28 per share, and British American Tobacco PLC (BTI) plummeted 16% to $35.18 per share for the last five days through Nov. 15, as the rumor of a possible ban emerged on Nov. 9. Warning! GuruFocus has detected 1 Warning Sign with EXTN.
NEW YORK (AP) — In a major new effort to curb smoking, a top U.S. health official pledged Thursday to try to ban menthol cigarettes and flavored cigars and tighten rules governing the sale of most flavored versions of electronic cigarettes.
The U.S. Food and Drug Administration on Thursday announced sweeping new restrictions on flavored tobacco products, including electronic cigarettes popular among teenagers in an effort to prevent a new generation of nicotine addicts. The much-anticipated announcement will mean that only tobacco, mint and menthol e-cigarette flavors can be sold at most traditional retail outlets such as convenience stores. The FDA also plans to seek a ban on menthol cigarettes, a longtime goal of public health advocates, as well as flavored cigars.
Today, Murray Garnick, Executive Vice President and General Counsel, Altria Group, Inc., issued the following statement in response to FDA’s announcements:
U.S. Food and Drug Administration Commissioner Scott Gottlieb announced on Thursday plans to ban menthol in products like cigarettes and cigars and restrict the sale of many types of flavored electronic nicotine systems like e-cigarettes in order to prevent youth use. The news sent shares of tobacco companies, many of whom also make electronic systems, down. Gottlieb also proposed banning flavored cigars "to ensure that we're taking a comprehensive approach," he said. Use of e-cigarettes has become extremely popular in recent years among young people; the products are safer than e-cigarettes but do contain addictive nicotine and bear other health concerns. The FDA chief has been warning about youth use of e-cigarettes for some time, and previously forecasted the agency's plans to take additional steps in November. But Gottlieb also said on Thursday that "if the policy changes that we have outlined don't reverse this epidemic, and if the manufacturers don't do their part to help advance this cause, I'll explore additional actions." The new policy, should it be finalized, would only allow the sale of flavored electronic nicotine systems in "age-restricted, in-person locations and, if sold online, under heightened practices for age verification," according to the FDA statement, and would not apply to tobacco, mint and menthol flavors and non-flavored products. British American Tobacco shares dropped 2.3% on Thursday, Altria Group shares dropped 1.3% and Philip Morris shares slumped 0.5%.
Food and Drug Administration Commissioner Scott Gottlieb outlined a slew of policies, including restrictions on sales of flavored e-cigarettes, and essentially threatened to pull products from the market if manufacturers do not follow them.
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.
It was a long time coming, but the $15 billion startup that had 70% market share of the e-cig industry has faced the consequences.
Juul Labs Inc, the U.S. market leader for electronic cigarettes, said on Tuesday it will pull popular flavors such as mango, cucumber and fruit from retail store shelves in an effort to reduce surging teenage use of its products. The move comes as Juul and other e-cigarette makers have faced heightened scrutiny from the U.S. Food and Drug Administration amid a sharp increase by high school students in use of the devices, which look like a USB flash drive and vaporize a flavored liquid containing nicotine. Juul said it will stop selling flavors except for tobacco, mint and menthol in all retail outlets, including convenience stores and vape shops, until retailers can install technology that scans buyers' IDs to independently verify they are aged 21 or older.
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.
The move comes as Juul and other e-cigarette makers have faced heightened scrutiny from the U.S. Food and Drug Administration amid a sharp increase in high school use of the devices, which look like a USB flash drive and vaporize a flavoured liquid containing nicotine.
Juul announced Tuesday it would halt sales of its flavored e-cigarettes at retail locations and reduce its presence on social media.
2018 has been a rough year so far for shareholders of Altria Group Inc. Since the calendar flipped to January, this tobacco and alcohol giant has shed more than 12% of its market value, trailing the broad market meaningfully during a choppy year when positive performance has been particularly valuable. Altria has basically undergone two major trends in 2018: The first was a well-defined downtrend that led into the summer months, and the second has actually been an uptrend that started back in the middle of May, and has remained in play ever since.
The Zacks Analyst Blog Highlights: Altria, American Express, U.S. Bancorp, T-Mobile and Humana
The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general. Apple shares fell 4.7 percent to $209.67, their lowest since July 27, after Lumentum Holdings Inc, the main supplier for Face ID technology, and screen maker Japan Display Inc cut their forecasts. Lumentum plunged 31 percent and dragged down other Apple suppliers, many of them chipmakers such as Cirrus Logic Inc , Qorvo Inc and Skyworks Solutions Inc .
We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of June 30. In this article, we look at what those funds think of Altria Group Inc (NYSE:MO) based on that […]
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.