Now There’s a Thing – More Big T companies diversifying.
From the Motley Fool:-
Additionally, traditional tobacco supplier Universal (NYSE: UVV ) , the largest leaf tobacco supplier to the industry, has directed a portion of its efforts to creating the liquid nicotine used by electronic cigarettes. As well it might. Revenues at Universal last quarter fell 6% as carryover shipments of tobacco were substantially lower, resulting in a drop in adjusted net income of $18 million. Yet Universal is so new to the e-cig side of the industry there’s no knowing how its entry will play out.