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Fly News Breaks for October 18, 2019
Oct 18, 2019 | 04:53 EDT
Citi analyst Adam Spielman upgraded Altria Group to Neutral from Sell.
News For MO From the Last 2 Days
Feb 21, 2020 | 15:43 EST
The Securities and Exchange Commission has opened a probe related to Altria Group's (MO) investment in Juul Labs, Jennifer Maloney and Dave Michaels report, citing people familiar with the matter. The SEC is investigating whether Altria adequately disclosed to shareholders the risks when it spent $12.8B in 2018 to take a 35% stake in Juul, sources told the Journal. Shares of Altria are off their highs but remain up 32c to $45.88 in late afternoon trading. Reference Link
Feb 19, 2020 | 09:36 EST
Altria reaffirms its guidance for 2020 full-year adjusted diluted EPS to be in a range of $4.39 to $4.51, representing a growth rate of 4% to 7% from an adjusted diluted EPS base of $4.22 in 2019, as shown in Schedule 1. Altria's 2020 guidance reflects increased investments related to PM USA's commercialization efforts for IQOS, Helix's plans to manufacture and expand U.S. distribution of on! and one extra shipping day in the first quarter. The guidance range excludes estimated per share charges in 2020 of $0.05 of tax expense resulting from the Tax Cuts and Jobs Act (Tax Reform Act) related to a tax basis adjustment to Altria's ABI investment. Altria expects the 2020 full-year total domestic cigarette industry adjusted volume decline rate to be in a range of 4% to 6%, which includes the impact of federal legislation raising the minimum age to purchase all tobacco products to 21.