Philip Morris Cuts Earnings Forecast, Acquires E-Cigarettes Maker

Now watching

Next video starts in : 7 Play

Philip Morris Cuts Earnings Forecast, Acquires E-Cigarettes Maker

Philip Morris Cuts Earnings Forecast, Acquires E-Cigarettes Maker
Replay video
Up next

Primerica's CEO on the Most Foolish Financial Product to Buy

Unlock your personal NFL Now stream by signing in to NFL.com

Philip Morris Cuts Earnings Forecast, Acquires E-Cigarettes Maker

by TheStreet 1:36 mins

Philip Morris Cuts Earnings Forecast, Acquires E-Cigarettes Maker

by TheStreet 1:36 mins

Cigarette-maker Philip Morris has cut its 2014 earnings forecast, citing what it calls a "complex and truly atypical" year. It attributed significant currency headwinds, an improving but weak macro-economic environment in the European Union and challenges in Asia to the reduced forecast. The company also must take a pretax charge of $495 million, or 24 cents a share, in the second quarter, tied to its decision to stop cigarette production in the Netherlands by September. As more consumers seek less harmful alternatives to cigarettes, Philip Morris also announced that it acquired British e-cigarette maker Nicocig for an undisclosed price.

TheStreet

We The Economy

  1. 6:40

    cave-o-nomics

  2. 7:38

    Supply & Dance, Man!

  3. 5:26

    GDP SMACKDOWN

  4. Lemonade War

  5. 6:55

    A BEE’S INVOICE; THE HIDDEN VALUE IN NATURE

  6. 7:06

    Fed Head