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That shakiness around when the cuts are coming, as well as the expectation that rates could remain higher for longer creates an opportunity for active managers. Rick Rieder, BlackRock's global chief investment officer of fixed income, told CNBC in a phone interview. Indeed, core bond funds were among the winners in the 2008 crisis. For starters, they should think about the role they want a given bond fund to play within their portfolio: Is it to offset equity risk or to boost returns? "You're not investing in bond funds to shoot the lights out and build your wealth pile," said Morningstar's Jacobson.
Persons: Rick Rieder, Rieder, Eric Jacobson, Morningstar, John Croke ,, Morningstar's Jacobson, Jaime Quinones, they're, Quinones Organizations: Federal Reserve, Barclays, Bank of America, Citigroup, CNBC, Bloomberg, SEC, Morningstar, Vanguard, Stockade Wealth Management, Mutual Locations: Marlboro , N.J
More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared to about 3% in 2019, according to an April report from real estate data firm CoreLogic. It's key for a special tax break for homeowners who make a profit when selling a primary residence. Married couples filing together can make up to $500,000 on the sale without owing capital gains taxes. "With the recent rise in home values, more sellers have been facing a capital gains tax hit," Quinones said.
Persons: Jaime Quinones, " Quinones Organizations: Finance, Stockade Wealth Management Locations: U.S, Marlboro , New Jersey
Zyn is selling their nicotine pouches like hotcakes
  + stars: | 2024-02-08 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Move over vapes, Americans appear to have a new addiction: Zyn, a tobacco-free nicotine pouch product, that has exploded in sales over the past year. Philip Morris announced Thursday that it shipped about 350 million cans of Zyn in 2023, a whopping 62% growth compared to the previous year. Nicotine is very addictive and can harm young people’s developing brains, according to the US Centers for Disease Control and Prevention. However, like Juul, the popularity and growth of Zyn might face difficulties, in particular from US government. “Zyn is the next battle.”Despite the growth, shares of Phillip Morris declined 2% in early trading because of lower demand for cigarettes.
Persons: Philip Morris, Chuck Schumer, Zyn, , ” Schumer, “ Zyn, , Phillip Morris, Jacek Olczak, ” Olczak, CNN’s Carma Hassan Organizations: New, New York CNN, Marlboro, US Centers for Disease Control, FDA, Federal Trade Commission, Food and Drug Administration, Tobacco, Swedish Locations: New York, vapes, Marlboro
(AP) — A woman was taken into police custody in the Maryland suburbs of Washington following a series of apparently random stabbings and pedestrians struck by a vehicle. Six people were injured, including two stabbing victims who were hospitalized in critical condition, police Deputy Chief James McCreary said during a news conference Thursday evening. Officials released a surveillance video of the woman, calling her a person of interest in the string of attacks. They found a woman with minor injuries who was walking on the sidewalk when someone hit her, McCreary said. A short time later, two more pedestrians were struck and injured a few miles from that scene, he said.
Persons: , James McCreary, ” McCreary, McCreary, “ I’ve, Organizations: Police Locations: MARLBORO, Md, Maryland, Washington, George’s
Joan Soranno and John Cook clicked from the start. They met when they were working as architects on a Frank Gehry-designed project in 1991 in Minneapolis and spent the ensuing decades as partners, first in work and then in marriage. Together, they have designed many award-winning cultural landmarks, from the Marlboro Music Reich Hall Rehearsal Building & Music Library in Vermont to the Bigelow Chapel at the United Theological Seminary of the Twin Cities.
Persons: Joan Soranno, John Cook, Frank Gehry, Bigelow Organizations: Marlboro Music, Music Library, United Theological Seminary, the Twin Locations: Minneapolis, Vermont, the Twin Cities
Juul Labs raises $1.3 bln in funding
  + stars: | 2023-11-13 | by ( ) www.reuters.com   time to read: +1 min
Juul brand vaping pens are displayed for sale at a Juul shop in Jakarta, Indonesia, December 30, 2019. REUTERS/Ajeng Dinar Ulfiana Acquire Licensing RightsNov 13 (Reuters) - Juul Labs said on Monday it has raised about $1.3 billion in funding, months after the e-cigarette maker revealed plans to lay off about 250 people in a bid to reduce its operating costs. Juul disclosed in a regulatory filing it had raised $1.27 billion in funding from a total offering amount of $1.6 billion. The company did not immediately respond to a request for comment on how it plans to use these funds. Marlboro maker Altria (MO.N) also exited its stake in Juul earlier this year, days before announcing a purchase of e-cigarette startup Njoy Holdings for about $2.8 billion.
Persons: Juul, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Juul Labs, Juul, District of Columbia, Holdings, Thomson Locations: Jakarta, Indonesia, New York, California, Marlboro, Altria, Bengaluru
Big Tobacco Can No Longer Name Its Price
  + stars: | 2023-11-04 | by ( Carol Ryan | ) www.wsj.com   time to read: 1 min
Cigarette profits at Marlboro-maker Altria fell from a year earlier in its latest quarter. Photo: Justin Sullivan/Getty ImagesAmerica’s cigarette market is in flux, and new smoking habits threaten to singe makers of pricey brands the most. One of the attractions of investing in tobacco stocks has been cigarette manufacturers’ amazing ability to continuously grow their profits through price hikes, even though the industry is in long-term decline. This helps cigarette companies pay generous dividends to their shareholders.
Persons: Altria, Justin Sullivan Organizations: Marlboro
Tracey Emin carried around a giant tote decades before enormous handbags were fashionable. “Ironic now, thinking about that, right?” she says, in her soft, working-class-accent, on a chilly afternoon, as she tries to find a comfortable position on a sofa in her recently renovated townhouse on Fitzroy Square, a genteel, central-London pocket that was once home to both Virginia Woolf and George Bernard Shaw. She reaches into the large canvas carryall at her feet to pull out a plastic pouch of urine, which is connected under her loose cotton shift by a long tube to a stoma in her abdomen. She waves it slightly, a white flag, maybe, though because this is Emin, surrender has never been an option. “I made them leave my clitoris,” she says.
Persons: Tracey Emin, Stella Artois, Virginia Woolf, George Bernard Shaw, Emin Organizations: tote, Young British Artists, Lights Locations: London, Fitzroy, New York
Altria Group, the parent company of Philip Morris USA and the nation's largest tobacco company, reported third-quarter results Thursday that fell short of Wall Street's expectations as demand for its core cigarette business cools and illicit e-vapor products flood the market. The Marlboro maker said its domestic cigarette shipment volume decreased 11.6%, primarily driven by wider declines across the industry and competition from illicit e-vapor products, among other factors. In a conference call with analysts, Altria CEO Billy Gifford said the lack of regulation of illicit e-vapor products has come at the expense of legal operators and approved. Although federal crackdowns have placed more restrictions on the flavors and marketing for tobacco products, illicit operators are skirting many tobacco-related laws and are flooding the market with disposable e-cigarettes that aren't FDA-approved and are illegal to sell. Like many other tobacco companies, Altria is moving beyond traditional, combustible cigarettes and towards smoke-free products.
Persons: Philip Morris, Altria, Billy Gifford, Gifford Organizations: Marlboro, Altria, Philip Morris USA, LSEG, Anheuser, Busch InBev, FDA, NJOY's, U.S Locations: San Francisco , California, Marlboro, JUUL, Juul
Philip Morris International Inc. Marlboro brand cigarettes are arranged for a photograph in Shelbyville, Kentucky, U.S., on Friday, Oct. 2, 2015. Philip Morris International on Thursday reported quarterly earnings that topped Wall Street's expectations but revenue that missed estimates, as sales for its heated tobacco and oral nicotine products remain strong. For the quarter ended September 30, Philip Morris posted revenue of $9.14 billion, compared to year-ago revenue of $8.03 billion, a 13.8% increase. He cited IQOS, its line of heated tobacco products, and its Zyn oral nicotine pouch as growth drivers. Zyn nicotine pouches are tobacco-free oral products touted by the company as a cleaner, more discreet way to consume nicotine.
Persons: Philip Morris, Jacek Olczak, Olczak, Zyn Organizations: Philip Morris International Inc, Marlboro, Philip Morris International, LSEG, Swedish Locations: Shelbyville , Kentucky, U.S
Ukraine's battle-hardened Azov Brigade has been rebuilt and is fighting in the forests of Donetsk. Videos show them fighting Russian positions from their trenches in the Serebryansky forest. AdvertisementAdvertisementUkraine says that its battle-hardened Azov Brigade has returned to the front lines in Ukraine and is fighting in the woods of Donetsk. AdvertisementAdvertisementThe Azov Brigade was formed as the Azov Battalion in 2014, composed of volunteers who came together to fight pro-Russian forces in the war in Donbas. Azov claims in the video that about 700 of their fighters have now been in captivity for over 500 days.
Persons: , United24, Dmytro Kozatsky, Mariupol, you've Organizations: Azov Brigade, Service, Azov Battalion, Azov Special Forces Regiment, Getty, Azov, Battalion, Marlboro Locations: Donetsk, Russia, Ukraine, Ukrainian, Russian, Kreminna, Donbas, Mariupol, Azov
Doreen and Lawrence Delva-Gonzalez had a zero-dollar net worth in 2017. In 2017, Doreen and Lawrence had a net worth of zero dollars. Four years later, the couple had built a net worth of around $500,000, according to records viewed by Insider. "I think the first step is to use a tool like Personal Capital to pull up your net worth and acknowledge where you are," Lawrence said. "People should work on their soft skills because that's going to position them to interview better, so they can make more money," Lawrence said.
Persons: Doreen, Lawrence Delva, Gonzalez, , Lawrence, They've, Gonzalezes, Read, Roth IRAs, lef, Lawrence's, Lawrence siad Organizations: Service Locations: Upper Marlboro , Maryland, Haiti, Marlboro , Maryland, Tallahassee , Florida
Anticipation should be building as Philip Morris prepares to bring iQOS back to the U.S. market. Philip Morris had partnered with Altria when iQOS was first launched in a handful of U.S. markets in 2019. Eventually, Philip Morris agreed to buy back the commercialization rights from Altria, and that deal is effective April 30, 2024. And this strategy is partly why, Herzog said, Philip Morris is one of Goldman's top picks. Last week, Philip Morris CEO Jacek Olczak spoke on X via ReutersPlus about its harm reduction efforts.
Persons: Philip, Goldman Sachs, Bonnie Herzog, Philip Morris, iQOS, Herzog, mgmt, Gaurav Jain, Jain, FactSet, Jacek Olczak, Jefferies, Owen Bennett, Bennett Organizations: Philip Morris International, Drug Administration, Altria, Barclays, Swedish Match, Bank of America, Rogue, Street Journal, Concordia, United Nations General Assembly Locations: U.S, Altria, New York
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/marlboro-maker-hits-reset-on-2-billion-bet-on-medicine-110e4df7
Persons: Dow Jones Locations: marlboro
Philip Morris International is considering selling off a stake in its largest pharmaceuticals unit. But more recently the division has struggled, and Philip Morris has had talks with Deutsche Bank on a range of options to try to grow its wellness and healthcare division, the WSJ first reported. In recent years, Philip Morris has also acquired Fertin Pharma, a nicotine gum maker, and OtiTopic, a respiratory drug maker. And, in the second quarter of this year, the company took a $680 million impairment charge related to its wellness and healthcare division. The news comes as the tobacco company continues to face resistance from public health groups.
Persons: Philip Morris, it's, Concordia, Philip Morris's Organizations: Philip Morris International, Marlboro, Deutsche Bank, WSJ, Fertin Pharma, PMI, Concordia, UN, Assembly Locations: New York
Alongside cheese and charcuterie, he almost always includes a platter of figs interspersed with dozens of loose Marlboro Golds. The Charlotte, N.C.-based artist grew up among the tobacco farms of Williamston, where their grandmother worked in the fields. “Seeing my grandmother die and not being compensated in any way showed me how disposable people are to Big Tobacco. “I think my generation can relate more to addiction to the phone than addiction to tobacco,” they say. To me, cigarettes represent how we treat both things and people now.”Set design by Yolande Gagnier.
Persons: Daniel E, Soares, , Alma Berrow, ” Nicholson, Yolande Gagnier, Christopher T, Linn, Brendan Galvin Organizations: Marlboro, Tobacco Locations: York, British, Charlotte, N.C, Williamston
Out West, the Gay Cowboy Roams Free
  + stars: | 2023-09-05 | by ( Evan Moffitt | ) www.nytimes.com   time to read: +2 min
TWO MEN, A grizzled sheriff and a gunslinging vigilante, confront each other in a dusty saloon town. When Silva (Pedro Pascal) visits his former lover Jake (Ethan Hawke), he rekindles their romance before revealing less amorous intentions. Intrigue ensues, and the shock of two gay cowboys gives way to what we might expect from a classic western: shootouts, horseback chases, fugitive justice. This is partly why over the decades many queer artists have made winking references to cowboy culture. Then there was the gay disco troupe the Village People’s dime-store cowboy, Randy Jones, who was meant to be read as a tongue-in-cheek archetype (one since referenced by musicians like Lil Nas X and Orville Peck).
Persons: Pedro Almodóvar’s, Silva, Pedro Pascal, Jake, Ethan Hawke, Almodóvar’s, John Wayne, Bob Mizer, Andy Warhol, , Randy Jones, Lil Nas X, Orville Peck Organizations: Marlboro, Lonesome Cowboys Locations: It’s, Spanish, America
Juul Labs signage is seen in the window of a store in San Francisco, June 25, 2019. Juul Labs said Wednesday it's planning to cut about 30% of its workforce as it looks to cut costs and boost profits. The layoffs will affect about 250 people, reducing the company's headcount to about 650, a company spokesperson said. This will reduce operating expenses by $225 million, the Juul spokesperson added. In response to the suit, a Juul spokesperson told CNBC, "We stand behind our intellectual property and will continue to pursue our infringement claims."
Persons: Juul Organizations: Juul Labs, Juul, Food and Drug Administration, Marlboro, Altria, NJOY, CNBC Locations: San Francisco, Juul
Altria seeks US import ban on Juul e-vapor products
  + stars: | 2023-08-22 | by ( ) www.reuters.com   time to read: +2 min
The move escalates a dispute between the two e-cigarette makers after Juul filed a similar patent infringement case against NJOY at the ITC in June. NJOY said in its filings that Juul products infringe two of its patents, and that it intends to obtain a ban on products including its currently marketed Juul device and Juul pods. NJOY also sued Juul in Delaware on Tuesday for infringing the same patents, seeking an unspecified amount of damages. Juul filed its own patent lawsuits against NJOY and Altria at the ITC and in Arizona federal court in June, seeking money damages and a ban on imports of NJOY's Ace vapor device. Altria won more than $95 million from cigarette rival R.J. Reynolds in North Carolina federal court last year after a jury found RJR infringed other Altria e-cigarette patents.
Persons: Elijah Nouvelage, NJOY, Juul, Altria, Reynolds, RJR, Philip Morris International's, Granth, Chris Kirkham, Blake Brittain, Krishna Chandra Eluri, Marguerita Choy Organizations: REUTERS, Altria, Juul Labs, U.S . International Trade Commission, ITC, NJOY Holdings, NJOY, RJR, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Juul, Delaware, Arizona, North Carolina, Bengaluru, Los Angeles, Washington
Altria Group sues Juul over e-vapor patent infringement
  + stars: | 2023-08-22 | by ( Stefan Sykes | ) www.cnbc.com   time to read: +1 min
Marlboro maker Altria Group said Tuesday its subsidiary NJOY has sued Juul Labs — the e-cigarette company it once held significant stake in — over patent infringement of certain e-vapor products. Altria has called for a ban on the importation and sale of these Juul products. Altria bought full global ownership of NJOY's e-vapor product portfolio in June for approximately $2.75 billion. The deal included the product NJOY ACE, the only pod-based vape with market authorizations from the U.S. Food and Drug Administration. In addition to the lawsuit filed with the ITC, Altria filed a similar suit against Juul in the U.S. District Court for the District of Delaware.
Persons: NJOY, Altria, Murray Garnick Organizations: Altria, Juul Labs, U.S . International Trade Commission, NJOY, ITC, U.S . Food, Drug Administration, CNBC, Juul, District of Locations: New York, Marlboro, U.S, District of Delaware
Bruno Mars has built his career on infectious pop melodies and perfecting one key skill: honesty. "Whatever you're doing just has to be honest — that's really become the most important thing for me in my career," Mars explains. "There's something beautiful about being young, naive and uneducated ... you're just free to fly," Mars says. As Mars has learned, success feels "a lot better" when it's something you genuinely want, and worked hard for. Check out:3 things you're getting wrong about success, according to a millennial CEO: It's not just about 'money, control and power'
Persons: Bruno Mars, Mars, Elvis, Adele, Alicia Keys, Seth Gold, Marc Gold, Robert Herzig, SelvaRey, Warren Buffett, It's Organizations: CNBC, Altria, Marlboro, TakeLessons Locations: Hawaii, Los Angeles, U.S, SelvaRey Rum, Los, Angeles
Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage//File PhotoAug 2 (Reuters) - E-cigarette maker Juul Labs is seeking to raise about $1 billion in a fundraising effort, Bloomberg News reported on Wednesday, citing people familiar with the matter. Juul is working with Jefferies Financial Group Inc (JEF.N) for the fundraising, the report said, adding that the e-cigarette manufacturer had about $800 million in revenue in 2022. Juul and Jefferies did not immediately respond to Reuters' request for comment. Reporting by Gursimran Kaur in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
Persons: Elijah Nouvelage, Juul, Jefferies, Gursimran Kaur, Sonia Cheema Organizations: REUTERS, Juul, Bloomberg, Jefferies, Group Inc, Reuters, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Altria, Bengaluru
Juul seeks US authorization for new e-cigarette
  + stars: | 2023-07-19 | by ( ) www.reuters.com   time to read: +1 min
July 19 (Reuters) - Juul Labs said on Wednesday it was seeking U.S. authorization for a new e-cigarette that has age-verification capabilities and prevents the use of unauthorized refill cartridges. In its latest premarket tobacco product application to the U.S. Food and Drug Administration submitted on Tuesday, Juul Labs said it was seeking to sell tobacco-flavored pods at a nicotine concentration of less than 2%. The e-cigarette maker has been in a tussle with the FDA to get its existing products approved after their sale was briefly banned last year following thousands of lawsuits that accused Juul of fueling a teen vaping epidemic. The company, in which Marlboro maker Altria (MO.N) was a former investor, would pursue additional filings to expand its e-cigarette alternatives, while pursuing an appeal of the FDA's stayed decision, a company spokesperson told Reuters. Reporting by Deborah Sophia and Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
Persons: FDA's, Deborah Sophia, Savyata Mishra, Shinjini Ganguli, Anil D'Silva Organizations: Juul Labs, U.S . Food, Drug Administration, FDA, Thomson Locations: Britain, U.S, Marlboro, Altria, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarlboro maker Altria says it wants to move away from cigarettes. Here's howAltria, the parent company of Philip Morris USA and the nation's largest tobacco company, says it wants to help smokers transition away from cigarettes. The Marlboro maker is launching new products like e-cigarettes and heat-not-burn products. But Altria's pivot has raised eyebrows among its critics. Cigarettes and cigars made up about 89% of the company's sales in 2022.
Persons: Altria, Philip Morris Organizations: Philip Morris USA Locations: Marlboro
Marlboro maker Altria’s bet on smoke-free products
  + stars: | 2023-07-01 | by ( Shawn Baldwin | ) www.cnbc.com   time to read: +1 min
But decades of evidence that smoking kills has caused consumption to plummet. The tobacco industry sold fewer than 11 billion packs of cigarettes in the U.S. in 2020, down from more than 21 billion packs two decades earlier, according to the Centers for Disease Control and Prevention. Altria, the parent company of Philip Morris USA and the nation's largest tobacco company, reported an almost 10% drop in cigarette sales last year compared with the year prior. The maker of Marlboro says it wants to help smokers transition away from cigarettes to what it calls "reduced harm alternatives" such as e-cigarettes and heat-not-burn products. So, are e-cigarettes and heat-not-burn products less harmful than traditional cigarettes?
Persons: Philip Morris Organizations: Centers for Disease Control, Philip Morris USA Locations: U.S, Marlboro
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