Question-and-Answer SessionOperator Operator Instructions. We’ll take our first question from Judy Hong, Goldman Sachs. Judy Hong - Goldman Sachs First, was there any impact on your volume from any trade inventory movement, both on the cigarette side as well on the Conwood side? Tom Adams Yes, our trade inventories...
Tobacco giant Reynolds American, Inc. (RAI) saw its earnings estimates and price target boosted on Wednesday by analysts at Deutsche Bank.
The analyst, which maintained its “Buy” rating on RAI, raised its price target on the stock to $62 from $60. RAI shares had closed at $51.08 on Tuesday.
The analyst said that “We remain constructive on [...]
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Asian stocks gain on G-20 stimulus, Axa takeover; treasuries, dollar fall.China may “soon” issue measures to limit the use of debt in real-estate purchases.Crude oil rises above $78/bbl as Hurricane Ida entered the Gulf of Mexico.Gold surged to records (hits $1,105.11/oz) on a weakening dollar.House health bill unacceptable to many in SenateIndia will pull back on its easy fiscal stance next year, sees 7+% growth next year:PMTreasuries fall as Asian stocks rose, US prepares to sell record $81B of debt this week.AES will sell $1.58 billion in stock to China's sovereign-wealth fund.AIG tapped its Treasury Dept. $4.2B in aid of restructuring.Allianz Q3 net more than doubles to €1.3B, revs at €22B vs.[More...]
Spreads were tighter in the US as all the indices improved (though were unable to break Friday's tights and closed wider than Thursday's close). IG trades only 8.1bps tight (rich) to its 50d moving average, which is a Z-Score of -0.7s.d. At 105bps, IG has closed tighter on only 8 days so far this year (192 trading days). The last five days have seen IG converging to its 50d moving average.[More...]
BloggingStocks: Analyst upgrades:
Credit Suisse upgraded Hewlett-Packard (NYSE: HPQ) to Outperform from Neutral and raised its target to $55 from $44 based on earnings momentum and a bottom in the Imaging and Printing segment. Note that Dell was downgraded to ... Read more
Tobacco companies jointly filed a lawsuit in Kentucky against the U.S. and the Food and Drug Administration, claiming a law signed by President Obama in June of this year imposes "unprecedented restrictions" on First Amendments Rights.[More...]
Tobacco companies jointly filed a lawsuit in Kentucky against the U.S. and the Food and Drug Administration, claiming a law signed by President Obama in June of this year imposes “unprecedented restrictions” on First Amendments Rights.
For instance, the law prohibits tobacco companies from jointly marketing their cigarettes with non-tobacco products. Also, ...
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