Latest Altria Group Inc News

Altria takes a $4.5 billion hit on Juul amid vaping backlash

Oct. 31, 2019 6:13 PM EDT

WASHINGTON (AP) — Marlboro-maker Altria is taking a big financial hit from its multibillion-dollar bet on e-cigarettes. The tobacco giant on Thursday slashed the value of its investment in the beleaguered vaping company Juul Labs by a third, dragging down its results to a financial loss for the quarter....

Former Juul exec alleges company shipped tainted products

Oct. 30, 2019 3:43 PM EDT

WASHINGTON (AP) — A Juul Labs executive who was fired earlier this year is alleging that the vaping company knowingly shipped 1 million tainted nicotine pods to customers. The allegation comes in a lawsuit filed Tuesday by lawyers representing Siddharth Breja, a one-time finance executive at the...

US endorses tobacco pouches as less risky than cigarettes

Oct. 22, 2019 4:56 PM EDT

WASHINGTON (AP) — For the first time, U.S. health regulators have judged a type of smokeless tobacco to be less harmful than cigarettes, a decision that could open the door to other less risky options for smokers. The milestone announcement on Tuesday makes Swedish Match tobacco pouches the first so-called...

Juul halts sales of fruit, dessert flavors for e-cigarettes

Oct. 17, 2019 6:07 PM EDT

WASHINGTON (AP) — Juul Labs stopped selling fruit and dessert flavors Thursday, acknowledging the public's "lack of trust" in the vaping industry. The voluntary step is the company's latest attempt to weather a growing political backlash that blames its flavored-nicotine products for hooking a generation...

MedMen's ends blockbuster deal adding to cannabis stock woes

Oct. 8, 2019 9:05 PM EDT

LOS ANGELES (AP) — Marijuana stocks have come down hard from their highs a year ago, and the skid isn't just spooking investors. On Tuesday, MedMen Enterprises Inc., which sells legal cannabis in California and 11 other states, backed out of a blockbuster deal to buy PharmaCann, a Chicago-based marijuana...

Clampdown on vaping could send users back toward cigarettes

Oct. 5, 2019 11:36 AM EDT

WASHINGTON (AP) — Only two years ago, electronic cigarettes were viewed as a small industry with big potential to improve public health by offering a path to steer millions of smokers away from deadly cigarettes. That promise led U.S. regulators to take a hands-off approach to e-cigarette makers, including...

Asian stocks rise after Trump trade deal remark

Sep. 26, 2019 12:33 AM EDT

BEIJING (AP) — Major Asian stock markets followed Wall Street higher Thursday after President Donald Trump suggested a costly tariff war with China could be resolved soon. Benchmarks in Tokyo, Hong Kong and Seoul advanced. Stocks gained after Trump, speaking to reporters Wednesday at the United Nations,...

Juul stops e-cigarette ads as teen vaping, illnesses grow

Sep. 25, 2019 5:12 PM EDT

WASHINGTON (AP) — Juul Labs Inc. will stop advertising its electronic cigarettes in the U.S. and replace its chief executive as mysterious breathing illnesses and an explosion in teen vaping have triggered efforts to crack down on the largely unregulated industry. The nation's largest e-cigarette maker and...

Nike, Philip Morris rise while Dean Foods, Worthington fall

Sep. 25, 2019 4:59 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday. Nike Inc., up $3.63 to $90.81 The footwear and athletic apparel maker handily beat analysts' fiscal first quarter profit forecasts thanks to strong sales in China. HD Supply Holdings Inc., up $1.32 to $39.24 The industrial...

Markets Right Now: Stocks rise as Trump teases trade deal

Sep. 25, 2019 4:15 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing with solid gains Wednesday after President Donald Trump indicated a trade deal with China could happen soon. The comment from Trump, along with strong numbers on the housing market, helped stocks...