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Reynolds American (RAI +0.8%) will match a 6% price increase on cigarettes from Altria (MO...
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Friday, June 15, 2012, 1:51 PM ETReynolds American (RAI +0.8%) will match a 6% price increase on cigarettes from Altria (MO +0.4%), effective immediately. Though the actions mark the first price hikes in the industry this year, they also arrive in a climate of cooling state excise taxes and the high-profile failure of a $1-a-pack tax in California to pass muster with voters. Lorillard (LO +1.6%) is holding prices pat for the moment.
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