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Altria Group, Inc. is a holding company primarily engaged in the manufacture of tobacco products, which account for 88.9% of its net sales, including brands like Marlboro and Black & Mild. The company also produces smokeless tobacco products, making up 6.8% of sales, and holds a 10% stake in Anheuser-Busch InBev.
Altria Group, Inc. is a holding company primarily engaged in the manufacture of tobacco products, which account for 88.9% of its net sales, including brands like Marlboro and Black & Mild. The company also produces smokeless tobacco products, making up 6.8% of sales, and holds a 10% stake in Anheuser-Busch InBev.
Philip Morris International shares soared to record highs, driven by a significant increase in demand for its Zyn nicotine pouches, which saw shipments rise nearly 40% year-over-year. The company reported strong financial results and raised its earnings outlook, highlighting Zyn as a key growth driver as it expands into new markets. With a 37% increase in 2024, this marks the company's best performance since its separation in 2008.
Earnings season is in full swing, with major companies like Tesla, IBM, and General Motors set to report this week. The S&P 500 has seen a 23% gain this year, and earnings are expected to grow 5%-7% this quarter, led by Information Technology, Communication Services, and Healthcare sectors.Economic indicators are also in focus, with Durable Goods orders anticipated to fall 4.5% year over year. Retail Sales exceeded expectations in September, rising 0.4%, while mortgage rates have climbed to 6.44%. The next Fed rate decision is expected on November 7, with a 90% chance of a 25-basis-point cut.
Altria Group, Inc. has received a sell rating from UBS. The company primarily manufactures tobacco products, accounting for 88.9% of net sales, including popular cigarette brands like Marlboro and L&M, as well as cigars and pipe tobacco. Additionally, it produces smokeless tobacco products, which make up 6.8% of sales, and holds a 10% stake in Anheuser-Busch InBev.
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Altria Group focuses on tobacco products and holds stake in Anheuser-Busch
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