Business News • MarketWire • Recession and Federal Regulations Could Not Burn Out Sin Stocks |
Recession and Federal Regulations Could Not Burn Out Sin Stocks |
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Recession and Federal Regulations Could Not Burn Out Sin Stocks
JOHANNESBURG, SOUTH AFRICA--(Marketwire - April 23, 2010) - www.rothmanresearch.com -- The U.S. cigarette industry has seen it all in the last two decades -- endless costly law suits, tightened regulations, tax hikes, smoking bans in public areas, anti-tobacco activists, a killer recession and the list goes on -- and yet in 2009 the overall industry made billions in revenue. With forecasts indicating a drop of 4% to 5% in tobacco consumption in the U.S., renowned cigarette makers are looking for expansion in the emerging economies like China. China is said to have a potential market size bigger than the whole U.S. population count. Philip Morris International Inc. (NYSE: PM), which is now considered as China's second-biggest tobacco company, reported its first quarter earnings pre-market yesterday with a 15% surge in profit as compared to the same quarter in 2009
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