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business newsTicker Shock: Investors Shouldn't Quit Altria
Tuesday's top stories and stocks with potential to move.
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Seriously - shouldn’t we advocate trying to get that money back, much like Obama wants the AIG money back? Talk about throwing good money after bad.
Asian markets were a bit of a mixed bag. The Nikkei was up more than 3%, but the Hang Seng was off under 1%. Meanwhile Europe was in negative territory earlier this morning. And here in the US, futures are currently trading higher.
Here’s what I’m focused on this morning:
Altria (MO):
I can’t believe this stock is trading at right around $17 - 10 times below the current-year estimate. And check out its dividend history. People act like people will never light up again. Folks, wake up! We’ve all heard the Surgeon General’s warning, and we all know about the lawsuits, and the taxes, and the social judgment. But I don’t see the habit getting snuffed out anytime soon. Venture outside just about any office building, and you're bound to see a flock of loyals lighting up with a vengeance regardless of rain, sleet or snow - they brave the elements better than the mailman. And 100 years from now, long after you and I have departed this earth, I’m willing to bet dollars to doughnuts that people will still be bumming a light.
Long story short, I think the shares are undervalued and the stock deserves a heck of a lot more attention then it’s getting.
By the way - no, I don’t smoke, and I’m not condoning smoking, so hold the emails.
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