Philip Morris to Quit Cigarettes, Not Tobacco
Philip Morris Int'l (PM) is taking a break from cigarettes.
On its website, the largest publicly traded tobacco company explains that it plans to help people quit smoking traditional cigarettes in the hopes of replacing them with smoke-free alternatives like e-cigarettes and heated tobacco products. They took out full-page ads in newspapers in the U.K., claiming it's working toward a smoke-free future where it doesn't sell traditional cigarettes, according to Fast Company.
While Philip Morris is giving up cigarettes, it's not giving up tobacco. The company claims that cigarette alternatives are less harmful and that it "can achieve a significant public-health benefit only when a large number of these smokers switch from cigarettes to better products."
While this is a long way from the years when cigarette company heads paraded in front of Congress claiming that tobacco is not addictive, the idea that some tobacco products are safer or less harmful than others is potentially "misleading," according to the World Health Organization, Fast Company noted.
Global e-cigarette sales amount to about $5 billion a year, and they're expected to grow more than 16% per year through 2022.
Intel Stock Falls on Chip Security Concerns
Shares of Intel Corp. (INTC) dropped about 3.5% in late morning trading on heavy volume Thursday, following a report Wednesday that said mobiles and computers using its chips were vulnerable to being hacked.
Security researchers disclosed a set of flaws that they said could let hackers steal sensitive information from nearly every modern computing device that uses chips from Intel, Advanced Micro Devices (AMD) and ARM Holdings, Reuters reported..
U.S. futures were rising premarket Thursday indicating a strong opening for markets and a new record high for the Dow Jones Industrial Average.
Dow futures climbed 0.43% while S&P 500 and Nasdaq futures rose 0.30% and 0.46% respectively.
Major indices around the world were higher with the major Asian and European markets advancing across the board.
Private sector job creation jumped in December thanks to a strong holiday shopping season that resulted in companies hiring more workers, according to a report from ADP and Moody's Analytics on Thursday.
Companies hired 250,000 new workers to end the year, above Wall Street expectations of 190,000. The month was the best for job creation since March and beat the 185,000 in November, which was revised down by 5,000.
The total brought 2017's private payroll growth as gauged by ADP and Moody's to 2.54 million,an average of 212,000 a month.