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Philip Morris International Inc. (PM)
After hours:
- Yahoo Finance Video
British American Tobacco faces $31B hit in value write-downs
British American Tobacco (BTI) warns it may lose over $31 billion in revenue following plans to write down the value of certain US cigarette brands. The tobacco giant cited higher inflation driving greater consumer demand toward more affordable cigarette and vaping options, broadly impacting the outlook for premium brands like Newport, Camel, and Natural American Spirit. Yahoo Finance's Rachelle Akuffo and Akiko Fujita break down the details of this trending ticker, expanding upon the rocky outlook for British American Tobacco and its competitors. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
- Bloomberg
BAT Writing Off £25 Billion on US Cigarettes, Shares Fall
(Bloomberg) -- British American Tobacco Plc is writing down some of its US cigarette brands by about £25 billion ($31.5 billion), sending shares to the biggest decline in almost four years.Most Read from BloombergApple Readies New iPads and M3 MacBook Air to Combat Sales SlumpGlobal Bonds Power Ahead as Dovish Bets Take Hold: Markets WrapBiden Says He Might Not Have Sought Reelection If Trump Weren’t RunningKevin McCarthy Leaving House Months After Ouster as SpeakerHarvard, Penn Criticized for ‘
- Zacks
Philip Morris' (PM) Smoke-Free Unit Solid, Cigarette Volumes Low
Philip Morris (MO) looks well-positioned for growth with its pricing power and focus on smoke-free products amid low cigarette volumes.
