Worth Watching Stock’s News Analysis Report: Philip Morris International Inc. (NYSE:PM), HCP, Inc. (NYSE:HCP)

On Wednesday, Shares of Philip Morris International Inc. (NYSE:PM), subtract -1.23% and shut at $88.89 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $88.54 and $89.75. Philip Morris International Inc.’s (“PMI”) (NYSE/Euronext Paris: PM) Chief Financial Officer, Jacek Olczak, addresses shareholders recently at the Morgan Stanley Global Consumer & Retail Conference in New York.

PMI revises, for currency only, its 2016 full-year stated diluted earnings per share forecast to be in a range of $4.46 to $4.51 as compared to $4.42 in 2015. Apart From an unfavorable currency impact, at prevailing exchange rates, of about $0.42 for the full-year 2016, the diluted earnings per share range represents a projected increase of about 10.5% to 11.5% as compared to adjusted diluted earnings per share of $4.42 in 2015.

This forecast does not include any share repurchases in 2016.

The adjusted diluted EPS of $4.42 in 2015 is calculated as stated diluted EPS of $4.42, plus a $0.03 per share charge related to asset impairment and exit costs, less a $0.03 per share benefit related to discrete tax items.

Shares of HCP, Inc. (NYSE:HCP), added 0.37% and shut at $29.51 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $28.92 and $29.57. The association’s commercial center capitalization is $13.86 Billion with the general uncommon loads of 467.97 million. HCP (HCP) (“HCP” or the “Company”) declared recently that its Board of Directors intends to elect Tom Herzog, HCP’s current Chief Financial Officer, as Chief Executive Officer and a member of the Board.  The Board also intends to elect Justin Hutchens, HCP’s current Chief Investment Officer, as President.  Both elections are anticipated to be made effective January 1, 2017.

Mr. Herzog has served as CFO since June 2016 after rejoining the Company, having formerly served as CFO from 2009 to 2011.  He will report to Mike McKee, who has served as interim President and CEO since July 2016 and will remain Executive Chairman.  Mr. Hutchens will report to Mr. Herzog.

Leave a Reply

Your email address will not be published. Required fields are marked *