Breaking News Instant updates and real-time market news.

PM

Philip Morris

$82.98

1.55 (1.90%)

09:30
11/04/19
11/04
09:30
11/04/19
09:30

Philip Morris lowers FY19 reported EPS view to at least $4.53 on restructuring

Philip Morris International revises its 2019 full-year reported diluted earnings per share forecast for restructuring charges in Germany. On a "like-for-like" basis the company's results reflect pro forma 2018 results, which have been adjusted for the deconsolidation of PMI's Canadian subsidiary, Rothmans, Benson & Hedges, effective March 22, the date of deconsolidation. On November 4, PMI announced that, as part of its global manufacturing infrastructure optimization, its German affiliate, Philip Morris Manufacturing GmbH reached an agreement with employee representatives to end cigarette production in its factory in Berlin, Germany, by January 1, 2020. In connection with the agreement, PMI expects to record estimated pre-tax charges of approximately $355M. This estimated amount includes pension and employee separation costs of approximately $265M, which will be paid in cash, and asset impairment costs of approximately $90M, primarily related to machinery and equipment, which are non-cash charges. The final amount of the charges, as well as the timing of payments, will depend on the separation options selected by impacted employees under the agreement and the final evaluation of the potential future use of assets. PMI expects that most of the pre-tax charges will be recorded in the fourth quarter of 2019 and most of the cash expenditures will occur in 2020. The Berlin factory has a projected 2019 production capacity of approximately 40 billion units. Approximately 950 employees are impacted under the agreement. PMMG will continue the production of expanded tobacco in Berlin. Cost savings anticipated from this initiative are included in PMI's previously communicated annualized cost efficiencies target of over $1B for the period 2019-2021. As a result, PMI revises its full-year 2019 reported diluted EPS forecast to be at least $4.53 at prevailing exchange rates, compared to the previously communicated forecast of at least $4.73, versus $5.08 in 2018. PMI sees FY19 adjusted diluted EPS, excluding currency, of greater than $5.28. Consensus $5.21.

PM Philip Morris
$82.98

1.55 (1.90%)

10/01/19
10/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ericsson (ERIC) upgraded to Buy from Hold at Canaccord with analyst Michael Walkley saying since the Q2 earnings report, Ericsson has announced deals with Nex-Tech, RINA, and KDDI, demonstrating continuing 5G momentum. 2. VMware (VMW) upgraded to Outperform from Market Perform at Wells Fargo with analyst Philip Winslow saying investors have been concerned that growing interest in deploying containerized applications into Kubernetes-centric environments will eventually reduce customer demand for VMware's virtualization-centric product portfolio. 3. Tradeweb Markets (TW) upgraded to Overweight from Equal Weight at Barclays with analyst Jeremy Campbell saying recent weakness in the shares "seems largely technical," which presents an "attractive upside opportunity." 4. Scotts Miracle-Gro (SMG) upgraded to Neutral from Underperform at BofA/Merrill with analyst Christopher Carey saying the bar on the company's earnings consensus may be "too low." 5. Philip Morris (PM) upgraded to Buy from Neutral at BofA/Merrill with analyst Lisa Lewandowski citing the suspended merger discussions with Altria (MO) amid the heightened risk for U.S. vaping category following reports of lung health concerns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/19
BOFA
10/01/19
UPGRADE
Target $96
BOFA
Buy
Philip Morris upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Lisa Lewandowski upgraded Philip Morris (PM) to Buy with a price target of $96 after the suspended merger discussions with Altria (MO) amid the heightened risk for U.S. vaping category following reports of lung health concerns. The analyst notes that the whole industry may be impacted by uncertainty around vaping, but she sees Philip Morris rising above the "noise" due to its lack of vaping exposure, strong underlying fundamentals, and potential for offering alternatives to vaping products.
10/01/19
BOFA
10/01/19
UPGRADE
BOFA
Buy
Philip Morris upgraded to Buy from Neutral at BofA/Merrill
09/26/19
WELS
09/26/19
NO CHANGE
WELS
Wells Fargo not surprised Philip Morris, Altria Group ended merger talks
Wells Fargo analyst Bonnie Herzog says that while she is dismayed by the announcement that Philip Morris (PM) and Altria (MO) have ended merger talks, she is not all that surprised given the length of negotiations and the litany of negative FDA/health headlines throughout. The analyst expects the stocks to trade up sharply since "clearly the market wasn't in favor of this combination." Herzog adds that it appears to her the talks fell apart over JUUL and the companies announced they have agreed to focus on launching iQOS in the U.S. "as part of their mutual interest to achieve a smoke free future." The analyst continues to believe Philip Morris/Altria have a competitive advantage, especially in this environment, with iQOS. She continues to "strongly recommend" both stocks, with Philip Morris remaining her top stock pick.

TODAY'S FREE FLY STORIES

ATRC

AtriCure

$30.99

1.29 (4.34%)

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
AtriCure management to meet with JPMorgan »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ACAD

Acadia

$51.37

0.915 (1.81%)

, AMGN

Amgen

$233.74

0.3 (0.13%)

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
Clinical Trials on Alzheimer's Disease to hold conference »

12th Clinical Trials on…

ACAD

Acadia

$51.37

0.915 (1.81%)

AMGN

Amgen

$233.74

0.3 (0.13%)

AZN

AstraZeneca

$47.68

0.06 (0.13%)

BIIB

Biogen

$300.27

0.98 (0.33%)

CLB

Core Laboratories

$46.19

1.94 (4.38%)

DNA

Bought by RHHBY

$0.00

(0.00%)

ESALY

Eisai

$0.00

(0.00%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

MRK

Merck

$88.84

0.09 (0.10%)

NVS

Novartis

$92.08

0.42 (0.46%)

RHHBY

Roche

$0.00

(0.00%)

TAK

Takeda Pharmaceutical

$20.27

-0.16 (-0.78%)

VCNX

Vaccinex

$4.95

-0.05 (-1.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 07

    Dec

  • 09

    Dec

  • 09

    Dec

  • 09

    Dec

  • 10

    Dec

  • 10

    Dec

  • 10

    Dec

  • 11

    Dec

  • 16

    Dec

  • 17

    Dec

  • 21

    Jan

  • 24

    Jan

  • 24

    Jan

  • 30

    Jan

  • 05

    Feb

  • 14

    Mar

MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

Investor and Analyst…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 07

    Dec

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
JPMorgan enterprise software analyst to hold an analyst/industry conference call »

Software Analyst Murphy,…

RUHN

Ruhnn

$6.19

-0.2 (-3.13%)

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
Ruhnn management to meet with Mizuho »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 08

    Dec

  • 09

    Dec

FITB

Fifth Third

$30.24

0.365 (1.22%)

, CSCO

Cisco

$43.83

0.29 (0.67%)

18:37
12/06/19
12/06
18:37
12/06/19
18:37
Hot Stocks
Fifth Third issues statement on temporary network outage »

Fifth Third Bank (FITB)…

FITB

Fifth Third

$30.24

0.365 (1.22%)

CSCO

Cisco

$43.83

0.29 (0.67%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 09

    Dec

  • 10

    Dec

  • 12

    Dec

  • 08

    Jan

  • 12

    Feb

STML

Stemline

$10.33

0.5 (5.09%)

, PFE

Pfizer

$38.29

0.26 (0.68%)

18:33
12/06/19
12/06
18:33
12/06/19
18:33
Hot Stocks
Stemline names Robert Francomano as Chief Commercial Officer »

Most recently, Francomano…

STML

Stemline

$10.33

0.5 (5.09%)

PFE

Pfizer

$38.29

0.26 (0.68%)

GSK

GlaxoSmithKline

$45.51

0.29 (0.64%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 09

    Dec

  • 11

    Dec

GOL

Gol Linhas

$17.39

1.07 (6.56%)

18:31
12/06/19
12/06
18:31
12/06/19
18:31
Hot Stocks
Gol Linhas announces preliminary traffic figures for November »

GOL's domestic…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NAVB

Navidea

$0.97

0.07 (7.78%)

18:25
12/06/19
12/06
18:25
12/06/19
18:25
Syndicate
Navidea announces $1.9M private placement »

Navidea announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

EFC

Ellington Financial

$18.22

0.09 (0.50%)

18:23
12/06/19
12/06
18:23
12/06/19
18:23
Hot Stocks
Ellington Financial reports estimated book value per share $18.51 on November 30 »

This estimate includes…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BOOT

Boot Barn

$41.93

0.81 (1.97%)

18:22
12/06/19
12/06
18:22
12/06/19
18:22
Hot Stocks
Boot Barn CEO: More than 80% of our business is in the store »

In an interview on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ERIC

Ericsson

$9.24

0.1 (1.09%)

18:18
12/06/19
12/06
18:18
12/06/19
18:18
Hot Stocks
Ericsson to pay over $1B to settle FCPA case »

Ericsson has agreed to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 09

    Dec

GLD

SPDR Gold Shares

$137.59

-1.42 (-1.02%)

17:55
12/06/19
12/06
17:55
12/06/19
17:55
Hot Stocks
SPDR Gold Shares holdings fall to 886.23MT from 888.57MT »

This is the lowest level…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PICO

PICO Holdings

$10.81

0.31 (2.95%)

17:45
12/06/19
12/06
17:45
12/06/19
17:45
Hot Stocks
PICO Holdings sells long-term storage credits for $8.7M in Arizona »

PICO Holdings announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

QHC

Quorum Health

$0.95

0.0522 (5.81%)

17:31
12/06/19
12/06
17:31
12/06/19
17:31
Hot Stocks
Quorum Health receives NYSE continued listing standard notice »

Quorum Health Corporation…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SPRT

Support.com

$1.94

0.01 (0.52%)

17:30
12/06/19
12/06
17:30
12/06/19
17:30
Hot Stocks
Breaking Hot Stocks news story on Support.com »

Support.com trading…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BXRX

Baudax Bio

$6.69

0.34 (5.35%)

17:29
12/06/19
12/06
17:29
12/06/19
17:29
Syndicate
Breaking Syndicate news story on Baudax Bio »

Baudax Bio files $125M…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Dec

LMT

Lockheed Martin

$387.10

1.175 (0.30%)

17:25
12/06/19
12/06
17:25
12/06/19
17:25
Hot Stocks
Lockheed Martin awarded $153.39M Navy contract modification »

Lockheed Martin was…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ENV

Envestnet

$71.72

1.27 (1.80%)

17:23
12/06/19
12/06
17:23
12/06/19
17:23
Syndicate
Breaking Syndicate news story on Envestnet »

Envestnet files to sell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NOC

Northrop Grumman

$344.79

0.4 (0.12%)

17:20
12/06/19
12/06
17:20
12/06/19
17:20
Hot Stocks
Northrop Grumman awarded $189M Navy contract modification »

Northrop Grumman was…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SPRT

Support.com

$1.94

0.01 (0.52%)

17:03
12/06/19
12/06
17:03
12/06/19
17:03
Hot Stocks
Support.com announces special distribution of $1.00 per share »

The record date for the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SPRT

Support.com

$1.94

0.01 (0.52%)

17:01
12/06/19
12/06
17:01
12/06/19
17:01
Hot Stocks
Breaking Hot Stocks news story on Support.com »

Support.com trading…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

RZLT

Rezolute

$0.00

(0.00%)

17:00
12/06/19
12/06
17:00
12/06/19
17:00
Syndicate
Breaking Syndicate news story on Rezolute »

Rezolute files to sell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

16:58
12/06/19
12/06
16:58
12/06/19
16:58
Periodicals
U.S. mulls putting Amazon foreign sites on 'Notorious Markets' list, WSJ says »

The Trump administration…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

16:55
12/06/19
12/06
16:55
12/06/19
16:55
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

Investor and Analyst…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Dec

  • 07

    Dec

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.