Altria shares rise after stronger-than-expected cigarette sales

13 articles · Updated · The Wall Street Journal · Apr 30

The stock gained nearly 7% in morning trading as finance chief Sal Mancuso said demand rose for discount brands Basic and Marlboro Cowboy Cut.
Altria said higher tax rebate checks also supported cigarette spending as consumers squeezed by rising petrol costs traded down to cheaper products.
Earlier, the company reported first-quarter profit of $2.18bn, revenue up 3.2% to $5.43bn, beat forecasts and reaffirmed its full-year outlook.

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