Key Highlights: Philip Morris (PM), The Procter & Gamble (PG), Oceaneering (OII)

Albany, New York (09/29/2014) – Philip Morris International Inc. (NYSE:PM) was downgraded to a “neutral” from “buy” at Bank of America Corp. (NYSE:BAC). The cigarette company’s price target was also reduced to $87 from $91. BAC’s analyst, Lisa Lewandowski, raised various issues that are already affecting the stock and some that could pose serious challenges in the future. Lewandowski said that the strengthening U.S. dollar relating to other global currencies was not good news for PM. The company continues to report in U.S. dollar yet 100% of its sales are outside the U.S. Lewandowski also noted that regulatory constraints and economic issues in the markets like Europe and Latin America as well as the unrest in Middle East could increase pressure on the stock. Philip Morris International Inc. (NYSE:PM) is committed to returning value to investors through dividends and shares repurchase. In 2012, it committed to $18 billion repurchase strategy spanning three years.

The Procter & Gamble Company (NYSE:PG) was recently reported as being under investigations in Mexico over irregular tax practices. Investors should keep a close eye on how things unfold on the tax evasion matter because it could have far-reaching implications on the company’s finances if it is found on the wrong side of the law. However, a number of analysts are bullish on the prospects of PG. For example, analysts at Citigroup Inc (NYSE:C) reiterated a “buy” rating on the stock and gave it an elevated price target of $94 from $92. The Procter & Gamble Company (NYSE:PG) is also a good dividend payer, having done so in the past 124 years without interruption. The company also earmarked $6 billion this year for shares repurchase.

Oceaneering International (NYSE:OII), a $7 billion global oilfield provider, announced its upcoming presentation at the Johnson Rice Energy Conference in New Orleans, LA. The company said its EVP, Marvin J. Migura, will present at the event, which takes place tomorrow, September 30. Oceaneering International (NYSE:OII) reported its most recent quarter on July 23, during which it said revenue increased 13% to $927.40 million YoY. Revenue for the quarter also surpassed the consensus estimate of $923.83 million.

About the Author

Cooper is a graduated from Buffalo State College in New York with a bachelor's degree in Broadcast Journalism.

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