The Week In Cannabis: PA, MD, Big Tobacco, GTI, Sundial, MedMen, Earnings, Financings And More

Friday, 30 April 2021, 22:30:35
Cannabis stocks traded mostly in the green this week, as we got into earnings season. “While there were a lot of companies reporting earnings, like Turning Point Brands who gave guidance of $422 million for 2021, I thought the biggest piece of data came from Pennsylvania , ” Debra Borchardt, editor-in-chief of Green Market Report, told Benzinga. “The state reported that in one year it had sold over $900 million in medical marijuana. This demonstrates the demand for cannabis in this state and bodes well for any future adult-use legalization. This is also a big number when one considers that the program has only just gotten underway.” And, while Pennsylvania sales surpassed $900 million in one year, Maryland sales finally hit $1 billion, more than three years after the medical cannabis program launched in December of 2017. Meanwhile, the Swiss-American multinational Philip Morris International Inc. (NYSE: PM ), maker of Marlboro cigarettes, said it's considering getting into the cannabis industry.
— Benzinga

Philip Morris Ponders Joining Booming Cannabis Space

Wednesday, 28 April 2021, 22:16:14
The Swiss-American multinational Philip Morris International Inc. (NYSE: PM ), may join other cigarette producers that have already jumped into the cannabis industry. What Happened Marlboro is analyzing key components of the industry, such as the “toxicity of cannabis, efficacy and differences between pharmaceutical and consumer options,” reported Bloomberg News . CEO Andre Calantzopoulos said the company is assessing the industry in detail because the market is still green and continues to face numerous regulation issues. “We are doing all this … Full story available on Benzinga.com
— Benzinga

Marlboro-maker Philip Morris is eyeing the pot market, CEO says

Wednesday, 28 April 2021, 15:15:53
Once-mighty cigarette giants have been looking for more sources of revenue for years as cigarettes have fallen out of favor amid mounting regulation and behavioral changes.
— New York Post

First-Quarter Earnings Season Is In Progress

Monday, 19 April 2021, 16:41:14
First-quarter earnings season continues this week after last week's reports were dominated by the big banks, with JPMorgan Chase & Co (NYSE: JPM ), The Goldman Sachs Group Inc (NYSE: GS ), and Morgan Stanley (NYSE: MS ) reporting record results as strong trading demand and rising interest rates fueled results. So far, corporate earnings have exceeded Wall Street's elevated expectations. This week, Netflix (NASDAQ: NFLX ) and Snap Inc (NYSE: SNAP ) will be among the major names reporting their first-quarter results. On Monday, Coca-Cola (NYSE: KO ) exceeded revenue and earnings estimates as fiscal first-quarter net income amounted to $2.25 billion. IBM (NYSE: IBM ), United Airlines (NASDAQ: UAL ) will report after the market closes. On Tuesday, Johnson & Johnson (NYSE: JNJ ), Harley-Davidson Inc (NYSE: HOG ), Abbott Laboratories (NYSE: ABT ), Procter & Gamble (NYSE: PG ), Lockheed Martin (NYSE: LMT ), Philip Morris International (NYSE: PM ) will report before the market opens. Netflix (NASDAQ: NFLX ) will report after the market closes.
— Benzinga

Over 80% of SA Smokers Would Switch To Better Alternatives – International Survey Shows

Friday, 12 March 2021, 22:14:38
Public Support Innovative Approaches to Reducing Smoking Rates, Reveals New International Survey from Philip Morris International – Four in five South African adults agree that governments should consider the role smoke-free products can play in tobacco harm reduction Market-level findings from an international survey commissioned by Philip Morris International (PMI) and conducted by independent research […] The post Over 80% of SA Smokers Would Switch To Better Alternatives – International Survey Shows appeared first on South Africa Today .
— South Africa Today