Venture announced its 3Q19 results after market hours on 8 November. Market was not impressed despite a 5% YoY earnings growth and consequently, its shares were sold down c.6%. Several brokerage also downgraded the counter to a Neutral rating. We have previously written about Venture in our article: VENTURE CORP DECLINED BY 4% DESPITE SOLID … Read more
Quick summary: Philip Morris (PM) delivered better-than-expected 3Q19 results although its share fell after the company provided muted 4Q guidance, largely due to timing issues affecting 4Q outlook. The company’s heated-tobacco products (IQOS) were a highlight in the quarter, with management confident that the company is well on its way to hitting its unit-shipment volume … Read more
