Philip Morris makes e-cig acquisition


After cutting its earnings forecast this morning, Philp Morris (PM -2.9%) has announced a new e-cigarette acquisition. The company has purchased Nicocigs, in attempt to stay ahead of the game in the fast growing e-cig market. Nicocigs is Britain's largest electronic cigarette maker, and dominates over 27% of the U.K. market.

Philip Morris already has a licensing and distribution agreement with Altria (MO -0.8%), but the Nicocig purchase marks the company's first actual e-cigarette product.

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Comments (6)
  • Mike Maher
    , contributor
    Comments (2865) | Send Message
     
    Good news for $MCIG as consolidation continues
    26 Jun 2014, 09:49 AM Reply Like
  • Matthew Mazurczak
    , contributor
    Comments (1486) | Send Message
     
    as well as $VPCO. Management is staying ahead of the game which is good to see.
    26 Jun 2014, 12:27 PM Reply Like
  • oscar16509
    , contributor
    Comments (31) | Send Message
     
    I am very long on PM. The are one of the best run corporations in the world!
    26 Jun 2014, 01:11 PM Reply Like
  • ehelpies
    , contributor
    Comments (371) | Send Message
     
    Buy every tobacco stock you can and never stop.
    26 Jun 2014, 05:26 PM Reply Like
  • Profitcripper
    , contributor
    Comments (309) | Send Message
     
    What a buying opportunityyyyyyyy!!!!!
    27 Jun 2014, 12:00 PM Reply Like
  • rosebud2
    , contributor
    Comments (2) | Send Message
     
    PM and EDP the best 2 investments I ever made in12 years
    27 Jun 2014, 01:13 PM Reply Like
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