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☆ From Zyn to vapes: Big Tobacco pushes further toward cigarette alternatives. Here’s who could come out on top
▼ + stars: | 2024-07-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

If you haven't been paying attention to tobacco companies, you might not recognize the new landscape. The alternatives also include heated tobacco and nicotine vapor products, although with the latter, tobacco companies face big competition from vaping companies and the proliferation of illicit vapes. PM 1Y mountain Philip Morris' one-year performance Countries around the globe have been working for years to reduce tobacco use. There is no way back," Philip Morris Chief Financial Officer Emmanuel Babeau said at a Deutsche Bank conference in June. Most of that came from companies in China, with tobacco companies only taking about 15% share, the bank said.

Persons: Philip Morris, —, Brett Cooper, I'm, Philip, Emmanuel Babeau, Owen Bennett, Cooper, Altria, vapes —, Faham Baig, Dan Ahrens, Ahrens, Edge's Cooper, Jefferies, Bennett, Murray Garnick Organizations: Philip Morris International, Reynolds American, British, Tobacco, Big Tobacco, World Health, Philip Morris, Deutsche Bank, Jefferies, Philip Morris USA, Centers for Disease Control, Drug Administration, U.S, Supreme, FDA, UBS, WHO, Brands, BAT Locations: Colorado, China, rey, Japan, Iquos, U.S, Kentucky, Marlboro, U.S ., London, RRPs

☆ 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

☆ Philip Morris lifts profit forecast on higher pricing, ZYN growth
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 (Reuters) - Philip Morris International (PMI) on Thursday raised its annual profit forecast as its third quarter earnings beat expectations thanks to higher cigarette prices, demand for its heated tobacco products, and rapid growth of its oral nicotine product ZYN. PMI's core smoke-free tobacco product, however, is its IQOS heated tobacco device and the tobacco sticks used with it. The company said heated tobacco shipment volumes had increased 18% during the quarter, but its full-year forecast assumed these would be lower than previously expected. It said this was due to a delayed market launch in Taiwan, limited growth in Russia and Ukraine and inventory uncertainty in Europe amid incoming regulations on heated tobacco flavours. PMI also tempered its revenue expectations for the full year.

Persons: Philip Morris, Dado Ruvic, ZYN, Jacek Olczak, IQOS, Juveria Tabassum, Emma Rumney, Chizu Nomiyama, Kirsten Donovan Organizations: Philip Morris International, REUTERS, Swedish, PMI, Thomson Locations: Taiwan, Russia, Ukraine

☆ Marlboro maker Philip Morris reports revenue miss, but strong sales of cigarette alternatives
▼ + stars: | 2023-10-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

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

☆ Analysts are getting bullish on these corporate earnings slated for release this week
▼ + stars: | 2023-10-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Another 10% of S & P 500 companies is due to report earnings this week, with Netflix and Tesla as major headliners. Against this backdrop, CNBC Pro screened for the S & P 500 companies reporting this week that have analysts the most excited, therefore raising their earnings estimates. Here's the criteria followed for the search: Slated to report earnings this week. The company is slated to report earnings Friday. Also making the cut was Philip Morris , which is scheduled to report earnings Thursday.

Persons: Nancy Tengler, Schlumberger, Morgan Stanley, Daniel Kutz, Philip Morris, Gaurav Jain, Goldman Sachs, Bonnie Herzog, Herzog, — CNBC's Michael Bloom Organizations: Netflix, Tesla, Investments, CNBC, CNBC Pro, Schlumberger, Barclays, American Express Locations: East, North Africa, U.S, Vegas Sands, Blackstone

☆ Investors want to know when Philip Morris' smoke-free shift will pay off
▼ + stars: | 2023-09-26 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

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

☆ 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

☆ Philip Morris beats profit estimates as cost pressures ease amid steady demand
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Philip Morris International (PM.N) on Thursday beat Wall Street expectations for quarterly profit, boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its smokeless Zyn and IQOS products. The company has bet heavily on Zyn and IQOS products as younger customers are showing a preference for these "smoke-free" alternatives to traditional combustible cigarettes. Demand for higher-margin IQOS devices - that heat cigarettes, instead of lighting them - and Zyn nicotine pouches has helped protect margins for the tobacco giant. The company raised the lower-end of its full year profit forecast, and now expects earnings per share between $6.13 and $6.22, compared to its previous forecast of $6.10 and $6.22. The company's second-quarter adjusted profit per share of $1.60 beat analysts' average estimates of a profit of $1.47, as per Refinitiv data.

Persons: Philip Morris, Juveria, Pooja Desai Organizations: Philip Morris International, Thomson Locations: Bengaluru

☆ Stocks making the biggest premarket moves: RH, Charles Schwab, Walmart and more
▼ + stars: | 2023-03-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Philip Morris International — The tobacco maker gained 1.8% following an upgrade by JPMorgan to overweight from neutral. Walmart — Shares of the retail giant rose about 1.5% in premarket trading after Evercore ISI upgraded Walmart to outperform from in-line. Fluence Energy — The energy storage company popped 5.7% following an upgrade by Goldman Sachs to buy from neutral. Peabody Energy — Shares of the major coal producer slid 0.8% after the company confirmed a fire at its Shoal Creek Mine. UBS — U.S.-listed shares of the Swiss bank rose more than 2% in premarket trading, a day after UBS announced Sergio Ermotti would return as CEO to oversee the takeover of Credit Suisse.

☆ JPMorgan upgrades Philip Morris, says shares look attractive for a leader in the shift to healthier nicotine alternatives
▼ + stars: | 2023-03-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The growth potential for Philip Morris International 's heated tobacco technology known as IQOS Iluma is prompting JPMorgan to get more bullish on shares. Analyst Jared Dinges upgraded the cigarette maker to overweight from neutral, saying the recent de-rating of the stock marks an attractive entry point for a global leader spearheading the shift to healthier alternatives to nicotine. Dinges added Philip Morris' 12-month forward price-to-earnings ratio trades below its five-year historical average. Philip Morris shares are down 6.4% year to date. Dinges lifted the bank's price target to $116 a share from $109, reflecting 22% upside from Wednesday's close.

☆ Altria to revive vaping push with $2.8 bln NJOY bid after Juul fiasco
▼ + stars: | 2023-03-06 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Altria is betting that NJOY will prove to be an easier way to tap the market since six of the company's products have received full approval from the U.S. Food and Drug Administration. Altria on Friday exchanged its investment in Juul, last valued at $250 million, for some of the vaping company's heated tobacco intellectual property. "We are no longer limited by the terms of those agreements to pursue other strategic opportunities and partnerships," Juul said. Altria's stake in Juul, valued at $12.8 billion in 2018, had raised antitrust concerns and the Federal Trade Commission filed a complaint in April 2020. The NJOY deal will include an additional $500 million in cash payments based on regulatory approvals of the company's other products.

☆ Altria to light up vaping push with $2.8 bln NJOY bid after Juul fiasco
▼ + stars: | 2023-03-06 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Altria on Friday said it had exchanged its investment in Juul, last valued at $250 million, for some of the once red-hot vaping company's heated tobacco intellectual property. Altria's stake in Juul, valued at $12.8 billion in 2018, had raised antitrust concerns and the Federal Trade Commission filed a complaint in April 2020. NJOY's products include Ace Pods - currently the only pod-based e-vapor product with market authorizations from the FDA - and disposable e-cigarettes under the NJOY Daily brand. The deal will include an additional $500 million in cash payments based on regulatory decisions related to other NJOY products, Altria said. Vapor products was a $7.84 billion market in the United States in 2021, up from $4.6 billion in 2017, according to Euromonitor International, and is projected to rise to $9.46 billion by 2025.

☆ Altria to buy e-cigarette startup NJOY for $2.8 bln after Juul exit
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - Altria Group Inc (MO.N) said on Monday it would buy e-cigarette startup NJOY Holdings Inc for about $2.75 billion in cash, in fresh bets by the Marlboro maker on the fast-growing market after losing billions through its investment in Juul. The value of Altria's investment in Juul slid to $250 million as of December last year from $12.8 billion it invested in 2018. The NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to some NJOY products, Altria said. NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj Kalluvila and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman Sachs says these stocks are too attractive to ignore in an uncertain economy
▼ + stars: | 2023-02-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs unveiled a slew of stocks this week that could have major upside throughout 2023. Howmet Aerospace Goldman Sachs is standing by its buy rating on the aerospace products company. "Howmet remains well positioned in the commercial aerospace growth market, delivering critical components, taking market share, generating strong margins and cash ﬂow," he said. Howmet remains well positioned in the commercial aerospace growth market, delivering critical components, taking market share, generating strong margins and cash ﬂow. The quarter was one of progress on multiple fronts, including margins, market share, and cash flow.

☆ Goldman Sachs upgrades Philip Morris, cites expansion in U.S. with smoke-free alternatives
▼ + stars: | 2023-01-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

An expansion into the U.S. makes tobacco company Philip Morris International a buying opportunity for investors, according to Goldman Sachs. Analyst Bonnie Herzog upgraded shares to buy from neutral, saying the launch of a line of smoke-free electronic cigarette products in the U.S. will drive growth for the company. The analyst pointed out the tobacco company's deal with Swedish Match, which "unlocks access to the world's largest and most lucrative nicotine market for PM." Shares of Philip Morris are little changed this year, after rising more than 12% in 2022. The tobacco stock was up more than 1% in Wednesday premarket trading.

☆ Altria partners with Japan Tobacco to bolster smoke-free category
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman poses with a cigarette in front of Altria logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/IllustrationOct 27 (Reuters) - Marlboro maker Altria Group Inc (MO.N) on Thursday announced a strategic partnership with Japan Tobacco (2914.T) in an attempt to boost its smoke-free category. Altria and JT will jointly establish Horizon Innovations LLC, which would be responsible for U.S. marketing and commercialization of heated tobacco stick (HTS) products owned and developed by either company. Altria said the joint venture would be through its subsidiary Philip Morris USA that will hold a 75% economic interest in Horizon and Japan Tobacco International, a subsidiary of JT, holding the rest. Philip Morris agreed to pay $2.7 billion for the exclusive right to sell IQOS heated tobacco products in the United States.

☆ Altria quarterly earnings miss estimates as cigarette maker's revenue falls
▼ + stars: | 2022-10-27 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Altria Group signage is displayed on a monitor on the floor of the New York Stock Exchange. Cigarette maker Altria Group on Thursday reported third-quarter earnings that missed Wall Street estimates as its revenue fell. Revenue: $5.41 billion vs. $5.59 billion expected. "We are excited to begin a new partnership with JT Group, a leading international tobacco company," said Billy Gifford, Altria's chief executive officer. For its third quarter, Altria reported revenue net of excise taxes of $5.41 billion, a decline of 2% from a year ago.

☆ Philip Morris Has a Plan B for America, but It Isn’t Ideal
▼ + stars: | 2022-10-20 | by ( Carol Ryan | ) www.wsj.com time to read: +1 min

Buying back the distribution rights will give PMI full control over the rollout of its IQOS heated tobacco sticks in the lucrative U.S. market. Cigarette giant Philip Morris International has a backup if plans to buy Swedish Match don’t work out. A 9.4% bump to what it offered in May brings the takeover premium to 52.5%. The higher price won’t cost the cigarette company more in dollar terms as the krona has fallen in value against the greenback since the first approach was made. PMI said it won’t raise the offer again and Swedish Match shares now trade at 112.5 Swedish kronor, slightly below the improved bid.

☆ Altria sells U.S. IQOS rights to Philip Morris for $2.7 bln
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Philip Morris is looking to overturn the ban. Philip Morris, which reports quarterly results later on Thursday, aims to resume supply of IQOS products in the United States by the first half of 2023. Altria still holds the rights to sell IQOS in the United States until May 2024, after which it transitions to Philip Morris. "We are ready to invest behind IQOS to bring it to market at scale across the U.S.," Philip Morris Chief Executive Officer Jacek Olczak said. Altria said it has already received $1 billion from Philip Morris and will receive the remainder by July 2023.

Philip Morris (PM.N) increased its bid by more than 9% to 116 Swedish crowns per share and said that the offer was its "best and final price". Philip Morris made an all-cash offer of 106 crowns per share for Stockholm-based Swedish Match in May. By Swedish law, 90% of Swedish Match shareholders need to approve the offer before Nov.4. Pontus Dackmo, CEO of Protean Funds who has 500,000 shares in Swedish Match, said he was still not impressed by the sweetened offer from Philip Morris. The company had earlier said it was expecting EU antitrust approval for its Swedish Match bid in late October.

☆ Philip Morris Raises Offer for Swedish Match and Buys U.S. Rights for IQOS
▼ + stars: | 2022-10-20 | by ( Jennifer Maloney | Ben Dummett | ) www.wsj.com time to read: 1 min

Philip Morris International raised its offer for Swedish Match AB by 9.4% and has agreed to pay $2.7 billion to regain the U.S. rights for its IQOS heated tobacco products from Altria Group Inc.Philip Morris said it is now offering 116 Swedish kronor, equivalent to $10.34, for each Swedish Match share, up from the original offer in May of 106 Swedish kronor. The total value of that deal, though in dollar terms, is roughly unchanged from the original offer because the appreciation in the U.S. currency against the Swedish krona, made it easier for the company to raise its offer.

☆ Philip Morris to Raise Offer for Swedish Match and Buy U.S. Rights for IQOS
▼ + stars: | 2022-10-20 | by ( Jennifer Maloney | Ben Dummett | ) www.wsj.com time to read: 1 min

Marlboro maker Philip Morris has been under pressure from Elliott Management and other investors to sweeten its bid for Swedish Match. Philip Morris International plans to raise its offer for Swedish Match AB and has agreed to pay $2.7 billion to regain the U.S. rights for its IQOS heated tobacco products from Altria Group Inc., according to people familiar with the matter. Philip Morris’s original offer for Swedish Match in May was 161.2 billion Swedish Krona, which was then equivalent to $16 billion. The new offer is expected to be announced as soon as Thursday, the people said.

☆ Altria gets $2.7 bln from Philip Morris for IQOS U.S. sales rights
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Altria in a statement said it has already received $1.0 billion from PMI and will receive the remainder by July 2023. Philip Morris, which was spun off from Altria in 2008, did not respond to a request for comment outside of business hours. The company will report its quarterly earnings results on Thursday, whereas Altria will report its earnings on Oct. 27. Separately, Philip Morris plans to raise its $16 billion offer for Swedish Match AB (SWMA.ST), the Wall Street Journal reported on Wednesday citing people familiar with the matter. Activist investor Elliott Management, which raised its stake in Swedish Match last month, plans to oppose the bid under its current terms along with some other investors.

☆ Philip Morris’ Swedish bet may take multiple tokes
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters Breakingviews) - Philip Morris International (PM.N) may need to show more flexibility. PMI Chief Executive Jacek Olczak has strengthened his hand by sealing a $2.7 billion deal with Altria to buy the rights to sell IQOS heated tobacco products in the United States, giving him an alternative way to grow in smokeless tobacco products. Still, it may be hard to get the Swedish Match deal over the line, given PMI’s ambitious 90% acceptance rate. That’s probably why the shares are currently trading close to the offer price at 112 crowns. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Altria reaches $2.7 bln deal with Philip Morris to sell U.S. IQOS rights
▼ + stars: | 2022-10-19 | by ( Makiko Yamazaki | ) www.reuters.com time to read: 1 min

Oct 19 (Reuters) - Altria Group Inc said on Wednesday its unit has reached a $2.7 billion deal with Marlboro maker Philip Morris International Inc's (PM.N) unit to sell the U.S. commercialization rights for its IQOS heated tobacco products. Altria has received a $1 billion payment from Philip Morris and will receive an additional payment of $1.7 billion by July 2023 for a total payment of about $2.7 billion pre-tax, according to the statement. Separately, the Wall Street Journal reported on Wednesday that Philip Morris is planning to raise its offer for Swedish Match AB (SWMA.ST), citing people familiar with the matter. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; editing by Diane Craft and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

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