{"id":4166,"date":"2018-04-21T03:38:00","date_gmt":"2018-04-21T03:38:00","guid":{"rendered":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4166"},"modified":"2018-04-21T03:38:00","modified_gmt":"2018-04-21T03:38:00","slug":"philip-morris-stock-crashes","status":"publish","type":"post","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4166","title":{"rendered":"Philip Morris stock crashes"},"content":{"rendered":"

\"\"<\/p>\n

Woot! This story made my heart warm. Philip Morris International (a company split off from Altria that focuses specifically on the tobacco market outside of the U.S.) stock dropped 18 percent<\/a> on April 19, partly because sales of its iQos product — a device that heats a tobacco plug without setting it on fire — has not gone as well as projected.<\/p>\n

For the year, PMI stock has dropped 4 percent.<\/p>\n

PMI is such a huge player in the tobacco market that its drop affected the stocks of all tobacco companies. British American Tobacco PLC and Imperial Brands PLC dropped 5.4 and 2.9 percent respectively while Altria dropped 7.7 percent.<\/p>\n

Oh, ouch, I hope people lose their jobs. I hope CEOs lose their bonuses. I can dream, can’t I?<\/p>\n

According to MarketWatch, much of this is tied to the iQos and its performance in Japan. From a MarketWatch<\/a> article:<\/p>\n

Philip Morris and its rivals have spent billions of dollars in recent years to research and market tobacco heating and other new products they believe will help lure existing smokers from conventional cigarettes, whose sales are in decline globally. While tobacco companies have so far been able to offset declining volumes with rising prices, that strategy is seen as having limits, and companies are scaling back investments in traditional tobacco operations.<\/em><\/p>\n

Japan, where Philip Morris launched IQOS in 2016, is closely watched by investors and public-health researchers as a test case for how reduced-risk products could catch on with consumers. Smoking rates in the country have plummeted after IQOS’s introduction — it has captured 16% of the tobacco market — and Philip Morris has pointed to that success as an indication of what could be achieved elsewhere.<\/em><\/p>\n

But Thursday, the company warned that once-breakneck sales in Japan had cooled.<\/em><\/p>\n

“Device sales were slower than our ambitious expectations,” Philip Morris Chief Financial Officer Martin King said on a call with investors. Mr. King warned of a maturing market in Japan, saying Philip Morris had run through early adopters quicker than expected and must win over “the more-conservative consumers, especially the age 50-plus smoker segment which represents approximately 40% of the total adult smoker population.”<\/em><\/p><\/blockquote>\n

I would love to see all these companies go belly-up. I know it won’t happen overnight, but it’s a good sign that the end of Big Tobacco could be in sight.<\/p>\n","protected":false},"excerpt":{"rendered":"

Woot! This story made my heart warm. Philip Morris International (a company split off from Altria that focuses specifically on the tobacco market outside of the U.S.) stock dropped 18 percent on April 19, partly because sales of its iQos product — a device that heats a tobacco plug without setting it on fire — … Continue reading Philip Morris stock crashes<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[755,447],"tags":[756,892],"class_list":["post-4166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-philip-morris-interntional","category-world-tobacco-use","tag-philip-morris-international","tag-stock-market"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/04\/1000x-1.png?fit=1000%2C562&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hpEa-15c","jetpack-related-posts":[{"id":3751,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=3751","url_meta":{"origin":4166,"position":0},"title":"Philip Morris International earnings, revenue down … big time","author":"Pepe Lepew","date":"February 22, 2016","format":false,"excerpt":"Great story! Philip Morris International's earnings and revenue are dropping, dropping faster than forecast by the company. Philip Morris is a spin-off from Altria, which handles Philip Morris' domestic production of cigarettes. According to several stories I came across, Philip Morris' \u00a0revenues dropped 11 percent at the end of 2015,\u2026","rel":"","context":"In "Philip Morris Interntional"","block_context":{"text":"Philip Morris Interntional","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=755"},"img":{"alt_text":"PMI","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2016\/02\/PMI.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4386,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4386","url_meta":{"origin":4166,"position":1},"title":"Philip Morris might stop selling cigarettes in the UK?","author":"Pepe Lepew","date":"August 6, 2021","format":false,"excerpt":"Philip Morris International made a seemingly startling claim the other day \u2013 that the company is looking to drop cigarettes altogether in the United Kingdom within 10 years. PMI is a spin-off of Altria, which was the umbrella corporation over the old Philip Morris company in the U.S. PMI runs\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1141,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=1141","url_meta":{"origin":4166,"position":2},"title":"Philip Morris profits down 8 percent in second quarter 2013","author":"Pepe Lepew","date":"July 20, 2013","format":false,"excerpt":"Oh, happy day. Philip Morris (Altria), the No. 1 private cigarette manufacturer in the world, saw its profits drop a dramatic 8 percent in the second quarter of 2013, mostly due to lagging sales. Philip Morris shares dropped 2.5 percent as a result. Here's what is interesting. We all know\u2026","rel":"","context":"In "Altria"","block_context":{"text":"Altria","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=4"},"img":{"alt_text":"philip morris","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2013\/07\/philip-morris.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4137,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4137","url_meta":{"origin":4166,"position":3},"title":"Philip Morris International getting out of the tobacco business? Huh, what now?","author":"Pepe Lepew","date":"January 12, 2018","format":false,"excerpt":"Philip Morris International this week made the somewhat shocking announcement that it plans to abandon tobacco altogether as its \"New Year's Resolution\" and will focus on \"electronic alternatives,\" (Apparently, that means e-cigarettes). This pronouncement raised some serious eyebrows ... and skepticism. PMI (a separate entity from Altria, which owns tobacco\u2026","rel":"","context":"In "Philip Morris Interntional"","block_context":{"text":"Philip Morris Interntional","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=755"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/01\/47BC9EEA00000578-5233401-The_big_tobacco_company_laid_out_its_new_initiatives_in_full_pag-m-7_1515021579641.jpg?fit=632%2C791&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/01\/47BC9EEA00000578-5233401-The_big_tobacco_company_laid_out_its_new_initiatives_in_full_pag-m-7_1515021579641.jpg?fit=632%2C791&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/01\/47BC9EEA00000578-5233401-The_big_tobacco_company_laid_out_its_new_initiatives_in_full_pag-m-7_1515021579641.jpg?fit=632%2C791&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4074,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4074","url_meta":{"origin":4166,"position":4},"title":"Reuters India investigation: Philip Morris definitely targeting young people","author":"Pepe Lepew","date":"August 31, 2017","format":false,"excerpt":"Interesting read here for my Indian readers on how India is threatening to crack down against Philip Morris International with some kind of \"punitive action\" for violating that country's anti-tobacco laws prohibiting marketing cigarettes to minors. 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I wrote a few days ago about how Altria is expanding its business to marijuana. Altria, which already owns the e-cigarette brand MarkTen, is now making a move to buy into the biggest e-cigarette brand out there, Juul. It's interesting.\u2026","rel":"","context":"In "Juul"","block_context":{"text":"Juul","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=900"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts\/4166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4166"}],"version-history":[{"count":0,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts\/4166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/media\/4167"}],"wp:attachment":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}