real-time news and commentary for investors
Tuesday, Jul 23
Weakness in Reynolds America (RAI -2.3%), Altria (MO -2.6%), and Lorillard (LO -4.3%) following...
Weakness in Reynolds America (RAI -2.3%), Altria (MO -2.6%), and Lorillard (LO -4.3%) following FDA guidance on the dangers of menthol cigarettes is likely a buying opportunity Wells Fargo says. The language used by the FDA is "somewhat softer than the menthol language from TPSAC's recommendation," analyst Bonnie Herzog notes, adding that this suggests "a ban is very unlikely." Asked about the report on this morning's call, MO CEO Martin Barrington said: "I heard about the headline when I walked into the room and was focused on the call, so I haven't looked at any of this." (Also: MO earnings, CC transcript)