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Thursday, 01/25/2018 1:17:19 PM

Thursday, January 25, 2018 1:17:19 PM

Post# of 30990
This just came across the wire. Kick that stupid Phillip Morris FDA. Oh it would have been so fun to have hassled them. Didn't have that much money to waste though.

Philip Morris Dives Following FDA Ruling
12:30 PM ET, 01/25/2018 -

[BRIEFING.COM] The major averages haven't changed much since the last update; the S&P 500 is still up 0.2%.

Philip Morris (PM 108.61, -1.98) sold off sharply in recent action after a FDA panel ruled that the company should not be allowed to claim its iQOS electronic tobacco device poses less harm than cigarettes. PM shares were up 0.4% ahead of the news, then immediately dropped 5.5% below their flat line following the headline, and now trade lower by 1.2%.

Elsewhere, the major European bourses finished Thursday on a lower note with Germany's DAX (-0.9%) showing particular weakness.

The euro is up 0.6% against the U.S. dollar at 1.2487 after the European Central Bank decided to leave interest rates unchanged and reiterated the central bank's intention to keep net asset purchases at the new monthly pace of EUR30 billion until the end of September, or beyond, if necessary.
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