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The Altria Group posted a second-quarter profit Thursday that slightly beat Wall Street estimates, helped by higher prices, but the number of cigarettes shipped by its Philip Morris USA unit fell more than some analysts expected. Shipments also declined more than they did in the first quarter, the opposite of what a rival, Reynolds American, reported on Wednesday, and Altria's stock fell. [ABSTRACT FROM PUBLISHER]

The article offers information on several developments related to Altria Group Inc. It is mentioned that Altria which was associated with funding for more than 200 art groups in New York City will now stop funding them. It is stated that the main reason for Altria from withdrawal form giving funds is that, it has moved its headquarters from Richmond, Virginia and also because of a corporate reorganization.

The article reports on the closure of the branch of the Eli Whitney Museum at 120 Park Avenue in New York City. The closure follows the relocation of the headquarters of Altria Group Inc. at 120 Park Avenue. Altria Group paid the operation expenses of the museum, which showcases about four exhibitions a year. The exhibitions primarily focus on work by living artists.

Kraft Foods Inc. will move about 300 employees in the summer of 2004 to 78,000 square feet in Tarrytown, New York, from its 560,000-square-foot headquarters in Rye Brook, New York. The move is part of a previously announced consolidation by the building's owner, Altria Group Inc. which is vacating the complex where 1,000 people are employee. Kraft has signed a long-term lease at the six-story, 204,500-square-foot Reckson Corporate Center on White Plains Road, New York. Rents per square foot in the building average in the low U.S. $30's.

Reports that large tobacco companies such as R.J. Reynolds Tobacco Holdings Inc. (RJR) and Altria Group's Philip Morris USA have decided to end their promotion and marketing efforts inside bars and clubs. Laws enacted in cities such as New York and Los Angeles which ban smoking in restaurants and bars; Use of bar promotions by cigarette companies to market their brands to young adults; Efforts of RJR to build brand loyalty through trips to the Marlboro Ranch in Montana and other theme events; Way that smaller competitors are taking the opportunity to market their cigarette brands in bars.