NC tobacco company maker of Newport cigarettes, Lorillard, in the Greensboro, was another notable mover in the space, with shares tumbling 4.45% to $107.29 despite the company posting better than expected earnings on revenues that were in line with consensus.
Newport Cigarettes 6 Cartons
$192.00
Because of the low sales of non-menthol
Newport cigarettes, the company put a tremendous amount of advertising for it, so now its second-quarter net income rose more than 10 percent as it sold more wholesale Newport cigarettes and Maverick cigarettes at higher prices.
The company had been trading near its 52-weel high on anticipation of its earning results, as according to reports earlier in the month, the company increased the majority of its cheap Newport cigarettes prices.