RICHMOND, Va.— Marlboro maker Altria Group posted flat second-quarter earnings Tuesday as higher prices helped to offset decline in the number of cigarettes it sold.» Read More
While the vast majority smokers buy standard-quality products, some take their smoking rituals to another level, paying a hefty price for the luxury and relaxation that smoking can provide.
There's no better example of the law of unintended consequences than cigarette taxes in the United States. Each state sets its own rate, and the disparity is huge. Missouri's state cigarette tax is 17 cents. It's $4.35 in New York. What's the unintended consequence? Crime.
Tobacco is not just a commodity. It is a culture. It is a way of life, as well as a multi-billion dollar business. And it is the most controversial crop on the planet. In many parts of the country, it is the most lucrative crop per acre. Even with huge increases in prices for wheat, corn and soybeans, which average about $300 per acre, nothing makes more money than $1,500-per-acre tobacco.
Most people know that tobacco is America's original cash crop, that smoking is stigmatized in modern American society and that tobacco farmers are a dying breed. But did you know that there's a thriving black market for cigarettes? And that 50 million Americans a day light up?
Pill vs. cigarette. They both have pros and cons as consumer products. But if there is a battle to bring recreational cannabis to market, most believe tobacco companies would have the upper hand over drug companies.
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There are good buying opportunities in the equity markets right now, Daniel Stillhart, technical analyst at LB Swiss, told CNBC Monday.
Whether you favor the lighter claro wrappers or the darker maduro, see what Cigar Aficionado's editors select as their choice sticks for this season.
The international tobacco market is the way to go for investors who want to keep their money safe in this volatile economy, says Charles Norton, co-portfolio manager at Vice Fund.
Altria Group Thursday posted quarterly profit that slightly beat analysts estimates and said market share for its Philip Morris USA unit's cigarettes rose.
European earnings were mixed Thursday, with telecoms reporting results in line or above forecasts, while energy companies and financials posted profit declines or figures below market expectations.
U.S. tobacco market is the way to go for investors who want to keep their money safe, says Nik Modi, a tobacco analyst at UBS.
Richard "Dickie" Scruggs, who became one of the wealthiest civil lawsuit attorneys in the country by taking on tobacco, asbestos and insurance companies, was sentenced to five years in prison for conspiring to bribe a judge.
Imperial Tobacco Group said Thursday that it plans to slash its work force by around 6 percent as part of its restructuring plans after its recent takeover of Spanish rival Altadis.
The U.S. Supreme Court said Monday that it would hear a Philip Morris USA appeal seeking to overturn a $79.5 million punitive damages award won by the widow of a longtime Oregon smoker.
New Yorkers start paying the highest cigarette taxes in the nation Tuesday with the latest $1.25 spike per pack that officials expect to bring in $265 million a year.
Plain packs a risk to UK cigarette profits-analysts British cigarette makers face a new and serious risk to their profits if the UK government rules that cigarettes should only be sold in plain packaging, undermining the power of brands, analysts said on Monday.
Chief executives from around Europe discussed their companies' earnings, opportunities and the challenges they face in 2008 with CNBC Europe Wednesday.
Shares of Philip Morris International, the world's largest non-state-owned cigarette maker, rose as much as 5 percent Monday morning in their first day of trading after the company was spun off from Altria Group.
European earnings failed to drive broader European markets higher, as disappointing numbers from bigger names and cautious guidance mostly pushed shares in reporting companies lower.