By Ben Eisen, MarketWatch
NEW YORK (MarketWatch) -- Opportunistic buyers like hedge funds have supported a rally in tobacco bonds this year, as the embattled corner of the high-yield municipal bond market shrugs off a dominating narrative of decline.
By Angela Johnson
E-cigarettes have been heralded as a potential savior for a tobacco industry desperate for new products and customers in the face of a shrinking number of smokers and punitive damages such as the $23.6 billion awarded by a Florida jury last week.
Subsidiaries of Philip Morris International Inc. (PMI) (NYSE/Euronext
Paris: PM) today filed papers seeking review of the EU’s Tobacco
Products Directive (2014/40/EU) by the Court of Justice of the European
Commenting on the matter, Marc Firestone, Senior Vice President and
General Counsel of Philip Morris International, said:
"We believe that the EU’s Tobacco Products Directive disrupts the
balance that the EU treaties establish between the Union and the Member
The Obama administration on Wednesday applauded CVS's decision to stop the sale of tobacco products and said "we hope others in the industry will follow." White House press secretary Josh Earnest said in a statement the announcement by the newly renamed CVS Health (CVS) "is an important step forward in improving the health and lives of millions of Americans." The company had pledged to stop selling tobacco by Oct.
WOODCLIFF LAKE, N.J., June 26, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY) , a leading provider of wireless M2M asset management solutions, has received a purchase order from a Fortune 500 tobacco company to deploy its PowerFleet® wireless Vehicle Management System (VMS) on a fleet of material handling equipment at a U.S. production and distribution facility.
NEW YORK (MarketWatch) -- Reynolds American Inc. shares (RAI) led a rout in tobacco stocks Monday, after a Florida jury awarded $23.6 billion in damages to the widow of a smoker who died of lung cancer in 1996.
LONDON-- Imperial Tobacco Group PLC reported a small decline in nine-month revenue on Tuesday and said it was on course to complete its acquisition of a pack of U.S. cigarette brands from Reynolds American Inc. and Lorillard Inc.
Imperial, maker of JPS and Gauloises, said sales fell 1% to GBP4.75 billion ($7.95 billion) in the nine months to June 30.
By Angela Johnson, MarketWatch
NEW YORK (MarketWatch) -- These stocks are seeing notable moves early Wednesday:
Infinity Pharmaceuticals Inc.(INFI): The biotech company has a new collaboration with AbbVie Inc.(ABBV) to develop and commercialize Infinity's duvelisib, a treatment for blood cancers.
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