Category Archives: Cigarette Manufacturers
Tobacco giant wants to ship more PHL products
Having captured 92 percent of the Philippine cigarette market, Philip Morris Fortune Tobacco Inc. (PMFTC) on Monday bared plans to maximize the capacity of its Batangas plant by exporting more of the company’s products. “The company believes it has satisfied the local demand. It is now focusing on increasing the export of excess production to other affiliates in the world,” … Continue reading
Tobacco company defends ads of past
DELAND — In the black and white television days of the 1950s and early 1960s, “virtually everyone” was exposed to information linking cigarettes to lung cancer, a historian testified for tobacco company R.J. Reynolds on Wednesday in court. The cigarette maker defended a claim from a Daytona Beach grandmother, who is seeking damages for the lung cancer she suffered. Stella … Continue reading
Lorillard Shares Could Go Up in Smoke if Menthol Cigarettes Are Banned
The U.S. Food and Drug Administration this month is expected to make its first public statements about whether sales of menthol cigarettes should be restricted. Lorillard is the company most at risk. It makes Newport, the top seller in the menthol category, with a 35% market share. Newport, which is also the overall No. 2 cigarette brand in the U.S., … Continue reading
Sector Snap: tobacco companies
NEW YORK (AP) — The lack of any significant amendments to a pending report on menthol cigarettes bodes well for tobacco companies, according to one analyst, who said that it reduces the chances that a harsher federal crackdown is on the way. In March, a Food and Drug Administration advisory panel said that removing menthol cigarettes from the market would … Continue reading
Virginia Tobacco Commission Responds To Audit
A recent audit found the Virginia Tobacco Commission approved some projects with little analysis and that some commissioners are often lax in pressing applicants for economic development details. We spoke with the head of the Commission to see what he thought of that statement. “It may have been a fair statement as to how we operated in the early years. … Continue reading
Altria to Take $630 Million Second-Quarter Charge
Tobacco giant Altria Group Inc. MO +0.59% disclosed it would record a one-time charge of about $630 million in the second quarter related to the tax treatment of some leveraged lease transactions. The charge will lower earnings for the current quarter by 30 cents, which resulted in Altria lowering its full-year outlook. The company, however, maintained its adjusted earnings estimate … Continue reading
Imperial Tobacco Sees Profit Impact From Spain Price Cuts
(RTTNews) – Imperial Tobacco Group Plc (ITYBY.PK: News ,IMT.L: News ) Monday said it expects adjusted operating profits from Spain for the financial year ending September 30 to decline from its previous projections due mainly to price moves in the country. The company sees a 110 million pounds ($178.63 million) reduction in adjusted operating profits from Spain, which includes 40 … Continue reading
3 Tobacco Giants Eye Bulgaria’s Bulgartabac
Three top-notch investors have purchased public procurement documents for the bid to privatize Bulgaria’s cigarette maker Bulgartabac. The news was reported by the Bulgarian daily Trud (Labor), cited by Dnes.bg. The deadline to purchase the documents was Thursday, 5:30 pm. The three are said to be the second largest in the world cigarette maker British-American Tobacco, Japan Tobacco International and … Continue reading
Are tobacco companies increasing the nicotine content in cigarettes?
It may seem absurd, or perhaps just a little over-the-top conspiratorial, to think that while major cigarette companies have been paying millions for anti-smoking campaigns, they’ve been secretly increasing cigarettes’ nicotine content to make them more addictive. But that’s exactly what two separate studies, one by the Massachussetts Department of Public Health and the other by the Harvard School of … Continue reading
Lorillard Slides on Valuation, Menthol Report
Both Morgan Stanley and Davenport lowered their ratings on the tobacco company’s shares, the former dropping it to equal weight from overweight and the latter from buy to neutral. Morgan Stanley’s action was largely based on valuation concerns as the stock has climbed nearly 40% over the last few months. However, it did keep its $105 price target. But Davenport … Continue reading
