On June 2, British American Tobacco fell 3.31% in pre-market trading, trading at $58.97/share, with trading volume of $242,900.

On the news front, British American Tobacco released a performance update indicating that global traditional cigarette industry volumes are likely to come in below prior expectations, dampening market sentiment. The company now expects full-year performance growth to land at the lower end of its mid-term guidance range, with revenue growth of 3%–5% and adjusted operating profit growth of 4%–6%.

However, the company raised its outlook for new tobacco categories, including e-cigarettes and nicotine pouches. British American Tobacco now projects its new categories segment to achieve full-year revenue growth of approximately 15%, up from a previous expectation of low double-digit growth, as the non-combustible tobacco market gains momentum.

Within the Tobacco sector, other major names also traded lower, with Philip Morris down 1.54% and Altria down 0.34%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)