Shares of tobacco companies Philip Morris International and Altria Group declined after the Food and Drug Administration authorized Juul Labs to keep its e-cigarettes on the U.S. market. Philip Morris edged down 2.6% to $178.52, while Altria was lower by 2.3% to $57.52 in early afternoon trading Thursday.

WASHINGTON (AP) — The Food and Drug Administration is allowing vaping brand Juul to keep its e-cigarettes on the market.

New York Attorney General Letitia James announced the $462 million settlement with JUUL for its role in the youth vaping epidemic. Now those funds will be distributed to local governments.