FILE- This June 14, 2018, file photo shows cartons of Marlboro cigarettes on the shelves at JR outlet in Burlington, N.C. Philip Morris International is moving its corporate headquarters from New York to Connecticut. The company said Tuesday, June 22, 2021, the relocation will bring about 200 new jobs to Connecticut. (AP Photo/Gerry Broome, File)Philip Morris International is moving its corporate headquarters from New York to Connecticut.
The company said Tuesday that the relocation will bring about 200 new jobs to Connecticut. The new office will include employees on the Americas teams and members of other corporate functions. Its operations center will stay in Lausanne, Switzerland.
Philip Morris split off from Altria years ago. The breakup gave it more leeway to pursue sales growth in emerging markets. Philip Morris has handled international sales for Marlboro cigarettes and has churned out new Marlboro-branded products catering to local tastes in Asia, Europe, Latin America and other regions.
But like many companies dealing with declining cigarette sales, it has been investing in alternatives. This includes a heat-not-burn cigarette option, iQOS.
Philip Morris' new headquarters are expected to be running by the summer of 2022.
Before you consider Altria Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Altria Group wasn't on the list.
While Altria Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.
Get This Free Report
