Why Altria Group Gained 6.4% in April
Shares of Altria Group (NYSE: MO) gained 6.4% in April, according to S&P Global Market Intelligence. This compares to the S&P 500 Index's decline of 8.8% last month. The stock is getting a boost from rising valuations across the consumer-staples sector and just put up a solid first-quarter earnings report.
On April 28, Altria reported its first-quarter results. The owner of Phillip Morris USA (maker of Marlboro cigarettes), chewing tobacco, cigars, and nicotine-pouch brands generated $5.9 billion in revenue in the first quarter, down 2.4% year over year.
On its face, this might not seem like a great result, but investors should remember that cigarettes have been in decline for many decades at this point, hurting demand for Altria's key Marlboro business.
Source Fool.com
