Market Currents

• Wednesday, November 18, 2009

• 09:53 AM JPMorgan is "cautiously optimistic" about the U.S. cigarette market, lifting Reynolds American (RAI) to Neutral after "impressive" Q3 results in October. Firm says recent price hikes will benefit most major brands in 2010. Firm also boosts Philip Morris' (PM) price target to $56 from $50. Comment!

• Monday, November 9, 2009

• 10:20 AM Cigarette giant Reynolds American (RAI +0.6%) is in advanced talks to buy closely held Niconovum AB, a Swedish maker of nicotine-replacement therapies such as Zonnic pouch and Zonnic gum. A deal would be the largest move by Reynolds into nicotine products, as sales of cigarettes continue to decline. Comment!

• Thursday, October 22, 2009

• 09:51 AM Reynolds American (RAI): Q3 EPS of $1.24 beats by $0.07. Revenue of $2.15B (-5.3%) in-line. Shares -0.9%. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Monday, August 31, 2009

• 15:35 PM Camel cigarette maker R.J. Reynolds (RAI) has joined other tobacco makers in suing the FDA to challenge the regulator's new authority over tobacco, saying its First Amendment rights to free speech have been violated and the law's provisions "severely restrict the few remaining channels we have to communicate with adult tobacco consumers." 1 Comment

• Thursday, July 23, 2009

• 09:09 AM Reynolds American (RAI): Q2 EPS of $1.29 beats by $0.13. Revenue of $2.25B (-3.8%) vs. $2.27B. Issues upside FY '09 EPS guidance of $4.40-4.60 vs. $4.15-4.45 prior. Shares +0.8% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ALXN, BG, BLL, BMY, CBE, CELG, CLS, CME, DHR, DO, ECA, EMC, ESI, ESV, F, FITB, FLIR, GR, HBAN, HOT, HSY, IGT, JBLU, KMB, LCC, LLL, MMM, NCR, NEM, NIHD, NOC, NUE, NYT, OMC, ORI, OXY, PLD, PM, PNC, POT, R, RAI, RS, RTN, RX, SIAL, SPNC, T, TIN, TMO, TRA, UNP, UPS, WYE, XRX, ZMH Comment!

• Wednesday, June 17, 2009

• 05:24 AM R.J. Reynolds (RAI) wins a high-stakes patent case against Star Scientific (STSI) over a new method of curing tobacco. Star, which had been seeking several hundred million dollars in damages, plans to file a motion for a new trial. STSI -79.4% premarket. 1 Comment

• Wednesday, June 10, 2009

• 07:36 AM The Senate is poised to put the tobacco industry under FDA regulation. It's good news for dominant Philip Morris (MO) since the new restrictions will make it harder for rivals to gain attention. Smaller firms like Lorillard (LO) and Reynolds American (RAI) cry foul. Comment!

• Wednesday, April 29, 2009

• 07:49 AM Reynolds American (RAI): Q1 EPS of $1.00 beats by $0.05. Revenue of $1.92B (-6.6%) vs. $1.97B. Sees FY '09 EPS guidance of $4.15-$4.45. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ABX, AET, AMG, AMT, ARW, BHI, BKC, CNP, ENDP, FCN, GD, GT, HES, IACI, JNY, MCO, MHS, MT, MTG, MWV, NYB, PX, Q, RAI, RDS.A, ROK, SAP, SEE, SI, SO, SPIL, SPW, TEL, TLM, TWC, TWX, UMC, VPHM, WMI, WYE, WYN Comment!

• Wednesday, February 11, 2009

• 07:59 AM Reynolds American (RAI): Q4 EPS of $1.27 beats by $0.11. Revenue of $2.2B (-2.4%) in-line. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AGU, AYE, BCE, CCE, DF, DVA, GENZ, IR, JNY, LVLT, MAC, MICC, MMC, MT, RAI, SPIL Comment!

• Tuesday, January 6, 2009

• 15:49 PM NY Times' Coming Down on Tobacco may have temporarily re-ignited tobacco-related investor concerns, but it raises no new issues or threats, Morgan Stanley says, adding FDA legislation of tobacco under Obama is far from a done deal. Rough day for the group: PM -3%. RAI -6.7%. LO -2.5%. MO -1.8%. Comment!

• Monday, December 15, 2008

• 10:40 AM The lawsuits against tobacco companies for deceptive marketing of 'light' cigarettes are valid and may proceed, the Supreme Court rules. MO -1.6%. RAI -1.75%. PM -1.7%. LO -4.2%. Comment!

• Wednesday, October 22, 2008

• 00:05 AM Notable earnings before Wednesday's open: ABFS, ABI, APD, ARW, ATI, BA, BHI, COP, DOV, EMC, FCL, GD, GENZ, GSK, KCI, KMB, MCD, MRK, NFX, NITE, NOC, NTRS, NWA, PM, R, RAI, ROH, RYN, SEIC, T, TCB, TRV, WB, WLP, WYE Comment!