Why Altria Stock Jumped 6% This Morning
Shares of cigarette maker Altria Group (NYSE: MO) have risen steadily for most of today, jumping more than 6% at one point just before noon, after Bloomberg reported positive news out of the Department of Health and Human Services (DHHS).
According to the news site, DHHS has shelved plans, first proposed two years ago, to force cigarette makers to reduce the level of nicotine contained in their products. As of 3:33 p.m. EST on Wednesday, Altria shares were still up 3.9% on the news.
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Source Fool.com