logo
Plus   Neg
Share
Email

Altria Posting Notable Loss After Downgrade By Citi

Extending a recent downward trend, shares of Altria Group, Inc. (MO) are seeing notable weakness in late-day trading on Friday. After hitting its lowest intraday level in over three years, Altria is currently down by 3.5 percent.

The continued drop by Altria comes after Citi downgraded its rating on the tobacco producer's stock to Sell from Neutral.

Citi analyst Adam Spielman said Altria's $12.8 billion investment in electronic cigarette company Juul is "effectively signaling" the company is "doubtful about the future of its core business."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Google added bitcoin's 'B' symbol to its Keyboard on iOS devices, indicating the leading cryptocurrency's growing acceptance in the mainstream industry. The feature, however, is not added to Android keyboards. The addition of the bitcoin currency key reflects Google users' growing interest in bitcoin. According to Google Trends, 'What is Bitcoin?' was the most popular search question in 2018. Shares of Deutsche Telekom AG were losing around 2 percent in German trading after the telecom giant reported Thursday a net loss in its fourth quarter, compared to prior year's profit, despite increased revenues. Looking ahead, the company said its 2019 forecast shows undiminished growth momentum. Hormel Foods Corp. on Thursday reported a 20 percent decline in profit for the first quarter from last year, when results were aided by a benefit related to the U.S. tax reform. However, earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Looking ahead, the branded food company reiterated its financial outlook for fiscal 2019.
Follow RTT