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Marlboro Maker Altria to Sell Wine Business for $1.2 Billion


Marlboro Maker Altria to Sell Wine Business for $1.2 Billion
Jul 09 2021, 10:55 PM
July 09 2021, 7:23 PM
July 09 2021, 10:55 PM
(Bloomberg) Altria Group Inc. agreed to sell its Ste. Michelle Wine Estates business to Sycamore Partners Management LP as the maker of Marlboro cigarettes in the U.S. prunes its non-tobacco holdings.
(Bloomberg) Altria Group Inc. agreed to sell its Ste. Michelle Wine Estates business to Sycamore Partners Management LP as the maker of Marlboro cigarettes in the U.S. prunes its non-tobacco holdings.
The private equity firm will pay $1.2 billion in the cash deal, along with the assumption of certain Ste. Michelle liabilities, according to a statement Friday. The transaction is expected to close in the second half after receiving antitrust approval. ....

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Does ESG Investment Pay Off?


By Tim Boreham, Editor, The New Criterion
The saintly stocks versus the sinners: which ones perform the best?
In a new era in which environmental, social and governance (ESG) considerations have been enshrined in the way fundies pick their shares, the so-called ‘sin’ stocks had been largely discounted as relics of the past.
Until Woolworths’ spin-off of
Endeavour Group (EDV) came along, that is.
By virtue of Endeavour’s sheer size and pure-play focus on booze and pokies, the bifurcation creates an awkward dilemma for ‘saintly’ Woolworths holders who tolerated the sinful stuff as a minority contributor to the grocer’s earnings (about 27% of total underlying profits). ....

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2 Dirt-Cheap Stocks That Could Skyrocket


, would make great choices as they have the hallmarks of a dirt cheap stock with the potential to skyrocket. 
1. MGM Resorts
It would be inaccurate to say that MGM Resorts stock
could skyrocket in price because it is already soaring. Share prices are up 33% year-to-date thanks to optimism surrounding its sports betting platform, BetMGM. The stock also looks poised for continued momentum as the coronavirus vaccine rollout helps bring tourists back to its brick-and-mortar casinos.
Image source: Getty Images.
Analysts at
Morgan Stanley predict a fast, strong recovery in Las Vegas, noting strong airline ticket sales and increased hiring activity on the strip. MGM normally earns 40% of its revenue in Las Vegas, so a resurgence here would help boost its top line after a 60% decline to $5.2 billion in 2020. The company may also emerge from the crisis with a relatively intact balance sheet, helped by the well-timed leaseback sales of its MGM Grand and Mandalay ....

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