Market Overview

Philip Morris Smoked After Q3 Miss

Related PM
Fast Money Picks For September 18
Air Of Cautious Optimism To Start Day On Positive China Talk, Easing Price Fears
The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of ZN, RMTI, ... (GuruFocus)

Philip Morris International Inc. (NYSE: PM) shares are trading lower by $4.00 (3.6 percent) at $108.51 in Thursday's session.

Before the open, the company reported a Q3 EPS miss of 11 cents along with a sales miss of $23 million. That marks the fourth consecutive EPS miss. On the sales front, the company has missed Wall Street estimates in seven of its last eight quarters.

After a much lower open, Philip Morris managed a slight bounce to $109.64 before continuing its move lower. The ensuing decline took the stock to $107.62 and has rebounded back into the mid-$108.00 handle. That low coincides with its Feb. 27 low of $107.23.

Posted-In: Technicals Intraday Update Movers Trading Ideas


Related Articles (PM)

View Comments and Join the Discussion!

Analyst Sees 243% Upside For Corbus Pharma Following Positive Clinical Data

EBay: Slow Progress Better Than No Progress