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...Marlboro maker Altria Group said it plans to sell more than $2.2bn worth of its shares in Budweiser and Beck’s brewer AB InBev....
...Analysts at Barclays said reducing leverage closer to two times was important for BAT as it sought to regain competitiveness against Philip Morris International, Altria and Imperial....
...Tobacco group Altria, media conglomerate Comcast, cruise company Royal Caribbean and chocolate-maker Hershey reported third-quarter earnings on Thursday....
...Nonetheless, BAT’s writedown sent other tobacco stocks lower, with Philip Morris International’s share price falling by 1.6 per cent and Altria’s shares down 2.8 per cent in New York....
...Altria last week exited that stake after Juul hit a series of regulatory and legal hurdles....
...Other earnings: Merck, Bristol Myers Squibb, UPS, Northrop Grumman, Honeywell, Altria, Hershey, Mastercard and Royal Caribbean report earnings before the opening bell....
...Billy Gifford, Altria chief executive, said the move was the “appropriate path forward for our business”....
...The two companies discussed a possible $200bn merger in 2019 but PMI’s shares have since outperformed Altria, giving it an equity value on Friday of $140bn compared to Altria’s $78bn valuation....
...Altria declined to comment. Njoy did not immediately respond to a request for comment....
...He sent me four such UK/US pairs: in Banking, Standard Chartered and Citi; in Homebuilding, Cairn Homes and Lennar; in Tobacco, Imperial Brands and Altria; in defence contracting, Babcock International and...
...Give me Altria over British American Tobacco all day. For banks, the situation is (as always) more complex. Barclays and Citigroup are an interesting comparison....
...The companies do not invest heavily internally and they devote basically all their free cash flow in dividends and share buybacks (Philip Morris, Altria and British American have dividend yields of 6, 10...
...Billy Gifford, Altria chief executive, said he believed the tie-up and Altria’s product pipeline “position us well to increase adoption of smoke-free products”....
...Altria chief executive Billy Gifford said he believed the tie-up and Altria’s product pipeline “position us well to increase adoption of smoke-free products”....
...One FT reader points out that British American Tobacco looks cheap on a like-for-like basis, compared with Altria in the US, and offers a dividend touching 10 per cent....
...BAT should be benchmarked against international pack leader PMI and US tobacco group Altria. PMI is ahead on next generation products, which accounted for about a third of sales. Altria lags behind....
...Marlboro maker Altria ditched its stake in Juul last month....
...Earnings: Amazon, Merck, Bristol Myers Squibb, UPS, Northrop Grumman, Honeywell, Altria, Hershey, Mastercard and Royal Caribbean report earnings before the opening bell....
...Shares in tobacco company Altria Group jumped 5.2 per cent to $47.38 after the company reported strong fourth-quarter earnings and announced a $1bn stock buyback plan....
...Shares of tobacco company Altria Group jumped 5.2 per cent to $47.38 after the company reported strong fourth-quarter earnings and announced a $1bn stock buyback plan....
...The legal and regulatory threats facing Juul have sharply cut the value of Altria’s stake....
...The thornier question for Altria is what now? Juul was its big bet on alternative nicotine products. With its investment vaporised, Altria lags peers in the exodus from the declining cigarette market....
...Altria’s stake is now worth just 3.5 per cent of its original value. The Marlboro maker paid $12.8bn for a stake in Juul in 2018. In September, Altria ended its non-compete agreement with Juul....
...Meanwhile, Altria, which has the rights to sell the Marlboro brand in the US, announced a $1bn share repurchase programme earlier this year, adding to a total of $3.5bn worth of share buybacks in recent...
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