The president announces he is holding a policy discussion on vaping after a mysterious lung disease killed at least six people.
All kinds of government entities will be lining up against Juul Labs, lawsuits with big awards are coming and who knows what else as MO is in a downtrend with $35 as the next price target.
Shares of tobacco and e-cigarette maker Altria Group dip after the company receives a downgrade from Piper Jaffray analyst Michael Lavery on concerns its stake in Juul may not produce earnings that justify the current premium on its potential merger with Philip Morris International.
In particular, Juul is breaking the law by selling and distributing its e-cigarettes 'as modified risk tobacco products without an FDA order in effect that permits such sale or distribution,' the FDA's letter states.
A report says FTC investigators are looking at whether Juul 'engaged in deceptive marketing, including by targeting minors or using influencers.'
Investors aren't applauding the potential merger, but one analyst points out what the advantages for both parties would be.
Tobacco giant Philip Morris International confirms it is in discussions with rival cigarette maker Altria Group in a potential all-stock deal that it calls 'a merger of equals.'
The cigarette maker reported increased year-over-year earnings despite a slight dip in revenue.
BTI's dividend yield has flared to 7% as the stock price has dipped about 30% recently -- a drag for existing shareholders but a burning opportunity for new investors.
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