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☆ Juul to cut 30% of its workforce in bid to cut costs and boost profitability
▼ + stars: | 2023-08-23 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

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 credits his success to this one skill—and it's not musical talent: 'It's become the most important thing for me'
▼ + stars: | 2023-08-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

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

☆ E-cigarette maker Juul Labs seeks $1 bln in funding - Bloomberg News
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

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

☆ 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

☆ Marlboro maker Altria says it wants to move away from cigarettes. Here's how
▼ + stars: | 2023-07-01 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

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

☆ LGBTQ+ rights: New Jersey's attorney general filed civil rights complaints against three school districts alleging discrimination against LGBTQ+ students
▼ + stars: | 2023-06-23 | by ( Polo Sandoval | ) edition.cnn.com time to read: +3 min

CNN —Just days after three New Jersey public school systems simultaneously enacted policies requiring educators to notify parents of changes in their children’s gender identity, the state is pursuing legal action. New Jersey State Attorney General Matthew Platkin announced the complaints against the Middletown Township, Marlboro Township and Manalapan-Englishtown Regional boards of education, all in Monmouth County. When contacted by phone on Friday, a representative of the Manalapan-Englishtown Regional School District declined to comment on the matter. CNN has reached out to the Middletown Township Public School District. In May, state officials also filed a civil rights complaint after similar changes were enacted at the Hanover Township Board of Education.

Persons: CNN —, Matthew Platkin, ”, Platkin, Marc H, Zitomer, “, ” Zitomer, Valentina Mendez, Mendez, We’re Organizations: CNN, New, New Jersey Superior Court, Englishtown Regional School, Public School District, Marlboro Townhip Board of Education, Marlboro Public School, “, Marlboro, of Education Locations: Jersey, New Jersey, Middletown Township, Marlboro Township, Manalapan, Monmouth County, Middletown, Marlboro, Hanover Township

☆ Next-generation smoking products may be underappreciated in this tobacco stock, Citi says
▼ + stars: | 2023-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors may not fully appreciate how much next-generation products, or NGPs, can help Philip Morris , Citi said. Analyst Simon Hales upgraded the tobacco stock to buy from neutral and raised his price target by $8 to $117. His new target implies shares can gain 23.3% over the next year. Those smoke-free products have helped stabilized nicotine after combustibles' fall from grace. In fact, Hales said sales of Philip Morris' heated tobacco products should grow at a five-year compound annual rate of around 18%.

Persons: Philip Morris, Simon Hales, Hales, — CNBC's Michael Bloom Organizations: Citi, Marlboro Locations: combustibles

☆ Accused in Missing Man’s Grisly Killing: His Ex-Wife and Her Husband
▼ + stars: | 2023-06-16 | by ( Erin Nolan | ) www.nytimes.com time to read: +1 min

Just before 4 p.m. on April 28, 2020, Steven Kraft did as he often did on Tuesday afternoons. He caught up with them over a fast-food dinner before returning them to their mother’s home around 7 p.m.That was the last time anyone saw Mr. Kraft alive. But on Thursday, Mr. Kraft’s ex-wife, Jamie Orsini, and her husband, Nicholas Orsini, were arrested and each charged with one count of carjacking resulting in death and one count of conspiracy. The Orsinis are accused of concocting and executing an elaborate scheme to murder Mr. Kraft, 34, and dismember and burn his body, according to a criminal complaint filed in Federal District Court in White Plains, N.Y. Mr. Kraft’s body has not been recovered, according to investigators.

Persons: Steven Kraft, Kraft, Kraft’s, Jamie Orsini, Nicholas Orsini Organizations: Court Locations: Marlboro, N.Y, Beacon, White Plains

Guardia Civil/Handout via REUTERSMADRID, June 1 (Reuters) - Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. This operation is one of dozens across the EU that regional policing and anti-fraud agencies say have driven seizures of illicit cigarettes to record levels. It may have been further accelerated by the war in Ukraine, which for years has been a production hub and transit route for illicit tobacco, OLAF added. TOBACCO INVESTIGATORSThe industry has responded by hiring investigators to research illicit operations and share intelligence with European authorities, executives at Japan Tobacco, BAT and Imperial Brands told Reuters. "A good many workers from Ukraine have been found in these illegal factories," Japan Tobacco's Byrne said about counterfeiting operations across the EU.

Persons: who'd, OLAF, Cyrille Olive, Philip Morris, Olive, Europol, Vincent Byrne, Byrne, Japan Tobacco's Winston, Alex McDonald, Ernesto Bianchi, McDonald, Japan Tobacco's Byrne, They're, they're, Richa Naidu, Emma Pinedo, Emilio Parodi, Matt Scuffham Organizations: Guardia Civil, REUTERS, Spanish, EU, BAT, Imperial Brands, Japan Tobacco, Philip Morris International, Reuters, Marlboro, America's Dunhill, Supplies, Investigators, Mobile, Thomson Locations: Seville, Spain, Guardia, REUTERS MADRID, Alfaro, Europe, Ukraine, British American, France, Netherlands, Portugal, Slovenia, Denmark, Czech Republic, Ireland, Japan, China, Asia, EU, Russia, Belarus, Roda de Ter, Barcelona, Spanish, Italy, Pomezia, Russian, Moldovan, London, Madrid, Milan

☆ Philip Morris International CEO aims to make its stock an ESG investment, FT reports
▼ + stars: | 2023-05-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The majority of those sales come from PMI’s “heated tobacco” products, which use electricity to warm, rather than burn, tobacco. “This requires system-level change.”Philip Morris International, headquartered in Switzerland, is the multinational firm that sells Marlboro brand cigarettes in non-US markets. It was spun off in 2008 from Altria Group, which controls Philip Morris USA. That’s especially true in Europe, where ESG accounted for 65% of all flows into ETFs in 2022, according to Morningstar data. Olczak touted PMI’s ESG bona fides on transparency, though he also acknowledged that the use of child labor in tobacco supply chains harmed his company’s ESG rating.

Persons: Philip Morris, Jacek Olczak, ” Olczak, “ I’m, Philip Morris …, ”, ” Philip Morris, ESG, Olczak, “ Organizations: New, New York CNN, Tobacco, Philip Morris International, Financial Times, CNN, ” Philip Morris International, Marlboro, Altria Group, Philip Morris USA, drillers, Morningstar Locations: New York, Switzerland, Europe

Companies Altria Group Inc FollowApril 17 (Reuters) - E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group Inc (MO.N), on Monday settled claims by the state of Minnesota that they fueled teen vaping addiction. The settlement, whose terms are not yet public, was announced by Minnesota Attorney General Keith Ellison and by Juul as a trial in the case was nearing its end. Juul has now settled vaping-related claims with 48 U.S. states and territories. Reporting By Brendan Pierson in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

The deal, which also included Colorado, Illinois, Massachusetts and New Mexico, means that San Francisco-based Juul has now settled with 45 states for more than $1 billion. The various states had accused Juul of falsely marketing its e-cigarettes as less addictive than cigarettes and targeted minors with glamorous advertising campaigns. It previously reached a $439 million settlement with 34 states and territories, as well as settlements with several individual states. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018. The CDC also has said using nicotine in adolescence may raise the risk for future addiction to other drugs.

NEW YORK, April 12 (Reuters) - E-cigarette maker Juul Labs Inc has agreed to pay $462 million to settle claims by six U.S. states including New York and California that it unlawfully marketed its addictive products to minors, the states announced on Wednesday. With the deal, Juul has now settled with 45 states for more than $1 billion. The states had accused Juul of falsely marketing its e-cigarettes as less addictive than cigarettes and targeted minors with glamorous advertising campaigns. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018. The CDC also has said using nicotine in adolescence may raise the risk for future addiction to other drugs.

☆ 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.

March 27 (Reuters) - E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group Inc (MO.N), will face their first U.S. trial this week over claims that they created a public nuisance by marketing addictive e-cigarettes to minors. It says Juul sold its e-cigarettes in sweet flavors and promoted them on social media to appeal to underage consumers. Juul and Altria have faced thousands of similar lawsuits around the country. The state also says Altria helped Juul market its products, including by providing it access to its sales force and including Juul advertisements in Marlboro products. Altria this month announced that it had given up its investment in Juul in exchange for some of Juul's intellectual property.

☆ Marlboro Maker Plots New Path to Smoke-Free Future After Losing Billions on Juul
▼ + stars: | 2023-03-24 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

Altria CEO Billy Gifford said the company is looking to develop non-nicotine products for former smokers and others. America’s biggest cigarette company has a new plan to shift its business toward less-harmful products, after a string of failures. This time, the Marlboro maker says, its plan will work. Altria Group Inc. earlier this month divested itself of e-cigarette maker Juul Labs Inc., recording a loss of at least $12.5 billion. Altria now has a new lineup of e-cigarettes, heated-tobacco devices and oral nicotine pouches in the works, including the planned acquisition of vaping pioneer NJOY Holdings Inc.

☆ Altria Plots Life After Juul
▼ + stars: | 2023-03-24 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

Altria CEO Billy Gifford said the company is looking to develop non-nicotine products for former smokers and others. America’s biggest cigarette company has a new plan to shift its business toward less-harmful products, after a string of failures. This time, the Marlboro maker says, its plan will work. Altria Group Inc . earlier this month divested itself of e-cigarette maker Juul Labs Inc., recording a loss of at least $12.5 billion. Altria now has a new lineup of e-cigarettes, heated-tobacco devices and oral nicotine pouches in the works, including the planned acquisition of vaping pioneer NJOY Holdings Inc.

☆ This Jefferies dividend portfolio is beating the market and set to do it again
▼ + stars: | 2023-03-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Jefferies thinks it has an answer to this conundrum, with its dividend portfolio that outperformed the MSCI USA index by 7.1% and boasts a cumulative outperformance of 6.8% since 2021. The portfolio's broken down by bond-proxies and high-quality yield stocks. Bond proxies refers to high-yield stocks with low growth — like bond coupons — typically within sectors that offer stable predictable cash flows. Popular staples maker Procter & Gamble was also included, with a 12-month forward dividend yield of 2.8%. The company offers a 12-month dividend yield of 3%.

☆ 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.

☆ Marlboro Maker Ditches Juul and Buys NJOY
▼ + stars: | 2023-03-06 | by ( Jennifer Maloney | Robb M. Stewart | ) www.wsj.com time to read: 1 min

Marlboro maker Altria Group Inc. agreed to buy vaping pioneer NJOY Holdings Inc. for at least $2.75 billion, after closing the chapter on its disastrous investment in e-cigarette maker Juul Labs Inc. The deal for NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, includes an additional $500 million if the Food and Drug Administration authorizes additional NJOY products. Those include the menthol-flavored refill pods it currently sells and a new version of its device that uses a Bluetooth connection to authenticate the user before unlocking.

☆ Altria to Buy Vaping Startup NJOY for at Least $2.75 Billion
▼ + stars: | 2023-03-06 | by ( Robb M. Stewart | ) www.wsj.com time to read: 1 min

NJOY has received clearance from the FDA to sell its tobacco-flavored e-cigarettes. Altria Group Inc. said it struck a deal to buy startup NJOY Holdings Inc. for at least $2.75 billion, the latest attempt by the Marlboro maker to shift into e-cigarettes as traditional smoking has declined. The deal comes after Altria last week said it would exchange its entire minority investment in embattled e-cigarette maker Juul Labs Inc. for a nonexclusive global license to certain of Juul’s heated tobacco intellectual property.

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

Altria Group said on Monday it would buy e-cigarette startup NJOY Holdings 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 NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to certain NJOY products, Altria said. NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. The company makes NJOY Ace Pods and disposable e-cigarettes under the NJOY Daily brand. NJOY Ace is currently the only pod-based e-vapor product with market authorizations from the U.S. Food and Drug Administration.

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