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Altria stock smoked as cigarette shipments drop, Amazon readies for a big ad quarter

Emily Bary
Altria stock smoked as cigarette shipments drop, Amazon readies for a big ad quarter

It’s no wonder Altria Group Inc. felt desperate for a piece of e-cigarette maker Juul Labs. Altria (MO) saw cigarette volume drop more than 14% to start the year, marking the company’s largest decline in at least three years. In all, the shipment numbers were “much worse than feared,” wrote Wells Fargo’s Bonnie Herzog.